Terry Paranych Real Estate Group Blog - Buying a Home

Top Edmonton Neighbourhoods for Young Families

Edmonton has become an increasingly popular destination for young families seeking affordability, excellent amenities, and a welcoming atmosphere. Many families are making this move, drawn by its abundant job opportunities and vibrant community life. Whether you're looking for more space, better schools, or a fresh start, choosing the right neighbourhood is a crucial step in your relocation journey. Therefore, let's see the top Edmonton communities for young families. Here, you will find insights into areas with top-tier schools, expansive parks, and a strong sense of community.

Key Factors to Consider When Choosing a Neighbourhood 

When relocating to Edmonton, selecting the right neighbourhood is a decision that can greatly impact your…

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Exciting News for First-Time Home Buyers: 30-Year Amortization and Increased RRSP Withdrawal Limits

Are you a first-time home buyer dreaming of stepping into your own home? The Canadian government has just rolled out two major updates that could transform your home-buying journey: extended amortization periods for newly built homes and significantly higher RRSP withdrawal limits. These changes aim to make homeownership more attainable and affordable for Canadians starting August 1. Let’s dive into what these updates mean for you and how they can help you secure your dream home.

What's in this Blog?

In this detailed guide, we'll explore:

• The benefits of the new 30-year amortization periods for insured mortgages.
• How the increased RRSP withdrawal limits can boost your home-buying budget.
• Insights from officials on how these…

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Finding the Perfect Time to Buy a Home in Edmonton: A Comprehensive Guide

Purchasing a home is one of the most significant financial decisions you’ll ever make. While there’s no one-size-fits-all approach to buying a home at the perfect time, there are several factors you’ll want to consider to help you make an informed decision.

Your Financial Circumstances

Buying a home is an exciting milestone, and your finances play a crucial role in determining the right timing for such a large investment.

Savings and Down Payment:

Having sufficient savings for a down payment is essential when purchasing a home. 5% is the minimum down payment required in Canada, with all down payments of less than 20% subject to mortgage insurance. Keep in mind, the more you put down, the lower your monthly mortgage payments and the better…

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The Terry Paranych Real Estate Group Ultimate Home Viewing Guide

Searching for your dream home can be an exciting but overwhelming experience. With so many factors to consider, gathering all the necessary information when viewing a property is crucial. To help you make an informed decision, we’ve put together this handy guide outlining what questions to ask when considering a home, red flags to watch out for, how to negotiate effectively and how to find the perfect REALTOR® for your new home needs. 

Let’s dive in!

Questions to Ask When Viewing a Home

By asking the right questions, you'll gain valuable insights into the property whether or not it will meet your wants and needs. Here are a few questions to ask to make a well-informed purchase.

How long has the property been on the market?

Knowing the…

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How to Avoid Paying Too Much for a Home: Our Top Tips for Home Buyers

Buying a home is one of the most significant investments most of us will ever make. The good news is there are several useful tips and strategies buyers can use to help stretch their budget and avoid overspending. From establishing your wants and needs to choosing the right REALTOR® and negotiating with sellers, here are our top 10 tips for avoiding paying too much when buying a home.

Tip 1: Establish Your Wants and Needs

If you’re trying to save money, it’s important to determine your wants and needs before buying a home. If you don't know what you’re looking for, you’re more likely to make impulsive decisions and spend unnecessary money on your purchase.

Another reason to establish your wants and needs is to avoid expensive renovations and…

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Top Moving Tips from The Terry Paranych Real Estate Group

Whether you’re moving across town or the country, our expert tips will help simplify the process.

Download a Moving Checklist 

Moving checklists are a handy tool for planning ahead, reducing stress and keeping your move on track. They also ensure you remember important details, stay organized and plan your upcoming move quickly and efficiently.

Decide if You’ll Hire Movers 

There are pros and cons when it comes to hiring movers. On one hand, relying on friends and family is a great way to save on moving costs. On the other, movers will help you save time and stress on move day. If you do decide to hire movers, we recommend getting at least three quotes and booking well in advance to secure your desired move date.

Cut the Clutter 

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The Benefits of Owning a Manufactured Home

Thanks to their affordability and versatility, “mobile” or manufactured homes are becoming an increasingly popular choice among Edmonton home buyers. Whether you’re a first-time buyer, downsizer, a growing family (or you fall somewhere in between), these prefabricated structures are a great choice for any age, lifestyle and budget.

But that’s not all.

Here are eight benefits of living in a manufactured home:

Affordable Homeownership

As we mentioned above, manufactured homes are highly affordable – giving Edmonton home buyers the chance to own their own homes at a fraction of the cost of a traditional site-built home. According to experts, the average 1,800 square foot manufactured home costs around $180,000 to $360,000 to build (or…

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How to Avoid Paying Too Much For a Home in Edmonton

Finding the right home is challenging enough, but knowing it’s one of the largest purchases you’ll ever make can be nothing short of overwhelming. The good news is, there are steps you can take to find both your dream home AND save money at the same time. 

Here are our top tips to avoid paying too much for a home in Edmonton:  

Tip 1. Establish Your Wants and Needs

When purchasing a home, buyers must often choose between features they’d like to have vs. features they actually need. For example, should you choose the two-storey home with more than enough space for your growing family, or the quaint bungalow with the backyard perfect for entertaining? Is a chef-inspired kitchen more important than a home office? Is a finished basement a…

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Edmonton Ranked the Most Affordable Major City in Canada

City of Champions, Winter City, Festival City and Oil Capital of Canada are just a few of many distinctions Edmonton has picked up over the years. Recently, Alberta’s capital has earned another title: the most affordable major city in Canada. 

A recent study has revealed despite any ups and downs, the Edmonton real estate market is better than it’s been in years. In reviewing numbers from 2007 (before the real estate crash of the following year), experts have determined homes are only slightly more expensive now (2022) than they were then - with average prices compared at $361,000 and $350,000 respectively.

Though interest rates are also slightly higher than they were in 2007 (in the 6% range), average annual household incomes have leapt from…

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The Benefits of Choosing a Semi Detached Duplex Home in Edmonton

From growing families and first-time buyers to downsizers and working professionals, Edmonton duplexes are ideal for every taste, lifestyle and budget. In addition, these spacious semi-detached homes offer many of the same benefits as the average single-family property, less the price tag and maintenance.

Here are just a few of the many benefits that come with owning a duplex in Edmonton:

Duplex Living Defined

In short, duplexes are multi-family homes containing two units in the same building. Duplexes are commonly side-by-side, but they may consist of two floors with separate entrances. Unlike a townhome or apartment-style condo, duplexes share only one common wall with the neighbouring unit, giving them more of a “single-family home feel.”

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