Are you trying to decide between a resale (previously owned) home and a new construction home? While both have their merits, the answer will depend on which option best suits your unique needs, wants and lifestyle.

Here are nine benefits to look forward to when purchasing a new construction home in Edmonton.

New Construction Homes Defined 

While “new construction” may sound straightforward enough, brand new builds may be purchased in various stages. In fact, knowing the difference between these new home “types” is crucial to the new home buying process. Here’s what you need to know:

Pre-Sale Homes – Pre-sales are the “ground up” builds. From lot size and orientation to layout and finishes, pre-sale homes allow you to take an active role in…

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From vintage crown moulding and arched entryways to hardwood flooring and one-of-a-kind curb appeal, older homes provide a unique sense of character you just won’t find in a newer property.

Unfortunately, older homes also come with their own unique set of challenges – challenges that can leave you feeling both unprepared and overwhelmed if caught unawares.

If you’re considering purchasing an older home in one of Edmonton’s many mature neighbourhoods, here are 10 questions to ask before you sign on the dotted line

1. Are There Any Foundation Issues? 

Over time, foundations are susceptible to corrosion, water damage, dry rot and more. As a result, older properties may exhibit signs of foundation cracking, sinking or upheaval and water…

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Despite any transitional ups and downs, 2020 was a record year for real estate in Canada. As a result, Edmonton’s healthy buyer’s market conditions (combined with record-low mortgage rates) have created favourable opportunities for budding real estate investors looking to secure a fantastic deal on their first investment property.

That is, of course, if they know what to look for.

If you’ve been thinking of investing in Edmonton’s lucrative real estate market, here are four things to consider when choosing the right property.

See our previous post: Why Now Is the Best Time to Buy an Edmonton Home and Take Advantage of the Lowest Mortgage Interest Rates in Decades

The Right Neighbourhood 

We’ve said this before – but we think it…

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For most first-time buyers, affordability is the number one priority for choosing the right home. The good news is, Edmonton features a variety of diverse and budget-friendly home styles, guaranteed to suit every lifestyle and personality.

Here are three affordable and first-time buyer-friendly home styles you’ll want to consider:

Apartment-Style Condos

Average Price: $230,688*

Minimum Down Payment: $11,534

Depending on the size, style and location, apartment-style condos are perhaps the most affordable home style around. For this reason, they are a popular choice among first-time buyers looking to enter the market and build valuable home equity. They’re also extremely low-maintenance, making them an attractive option for working…

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Buying a home is a significant financial investment for anyone – but for a first-time buyer, it can be downright daunting. Between worrying about your credit score, saving for your down payment and trying to determine what you can reasonably afford, there’s a lot to take in.

But the good news is, there are several strategies that first-time home buyers can employ – not only to make the home buying process easier – but much more affordable in the long term.

Here’s what you need to know:

1. Improve Your Finances   

First thing’s first. The best way to affordably purchase a home in Edmonton is to ensure you’re financially ready to do so. This may sound like a no-brainer, but we strongly recommend improving your finances as much as…

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Entering into the Canadian real estate investment market is a great way to boost your finances and generate passive income. However, there’s a lot more to it than simply purchasing a property, making a few changes, then selling or renting it out.

Here are a few first-time investment tips you’ll want to consider in advance.

1. Pay Down Your Debts

Credit cards, student loans, mortgage payments and other forms of debt will have a significant impact on your debt-to-income ratio – thus affecting your ability to save your down payment and obtain a low-interest mortgage. For this reason, we recommend significantly paying down (or clearing, if possible) any high-interest debts before beginning your investment journey.

2. Secure Your Down…

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Maybe your home is outdated, and you’re tired of sinking money into expensive renovation projects. Or perhaps you’re a growing family who’s walls are bursting at the seams. Whatever the case may be, if your current home no longer suits your lifestyle, it’s time to move up and move on.

However, there’s a lot more to consider than updated features, and a larger floor plan – including your finances, selling your current property and more.

But don’t worry, we’re here to help. Here’s everything you need to know about moving up to your next home in five simple steps.

Step 1 = Determine Why You Want to Move

Take the time to pinpoint your reasons for wanting a new home. Do you plan on expanding your family? Is your square footage large enough,…

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Recent numbers released by the REALTORS® Association of Edmonton have revealed that Edmonton’s housing market is nothing short of thriving. In fact, despite early market uncertainties as a result of the recent pandemic, the capital region has experienced “record-shattering” home sales over the last several months.

Healthy Market Increases

In September alone, sales were up a whopping 35.55% from September 2019. While there was slightly less inventory available (down 15.15% from last year), the number of new residential listings on market is up both year over year and month over month (10.73% from 2019 and 5.90% from August 2020).

An Uptick in Single-Family Home and Condo Sales 

September also saw single-family home sales up nearly 50% from…

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From modern features and finishes to contemporary floor plans and flourishing neighbourhoods, there are plenty of perks that come with purchasing a newer home – including new home warranty. As of 2014, all new homes in Alberta became subject to mandatory coverage for up to ten years!

If you’re thinking of buying a new(er) home here in Edmonton (or anywhere else in the province, for that matter), here’s what you need to know about new home warranty in Alberta.

What is New Home Warranty? 

As we mentioned above, all homes built after February 1st, 2014, require new home warranty coverage under the province’s New Home Buyer Protection Act. This means all builders must provide coverage on all new construction properties (including condos and…

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How long does it take to buy a home? Well, it depends. Research has shown, it takes an average of 4 ½ months to find a new home and an additional 30-45 days to close the deal. But with so many steps involved, the entire process could take much longer if you’re not prepared.

Here’s what you need to know:

Doing Your Research: 1-14 Days 

Shorten your home buying timeline by getting an idea of what you’re looking for ahead of time. See what’s currently available on the market and compare it to what you can afford. From here, you can draft a realistic list of wants vs. needs with which your REALTOR® can use to find your dream home.

Partnering With a REALTOR®: 1-7 Days 

Now that you’ve done your research, its time to team up with a…

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