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Maybe your home is outdated, and you’re tired of sinking money into expensive renovation projects.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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After making an offer on a home, a home inspection should be the automatic next step. This part of the home buying process sees a qualified professional examine every inch of the property in question – searching for problems you, as a buyer, are unlikely to see on your own. While you do have the right to wave an inspection before purchasing, we strongly urge against it and here’s why:

1. Room to Negotiate

An inspection can help you save a ton of money on the home’s overall sale price or any necessary repairs. If there are defects present in the home, you can ask the seller to either a) drop their asking price to cover the cost of repairs or b) perform the repairs themselves.

2. A Homebuyer’s “Out”

A home inspection also allows you to back…

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Whether you’re looking to sell fast and for top dollar or find the perfect home on time and under budget, partnering with a REALTOR® will help you get the most out of your next real estate transaction. But, with so many expert agents to choose from in and around the Edmonton area, how do you choose the right REALTOR® for your unique wants and needs?

Here are a few tips:

Maximum Exposure 

For home sellers in particular, it's important to choose an agent with a “maximum exposure” guarantee. In other words, their approach to marketing and advertising your home is one that ensures your property will be seen anywhere and everywhere, 24/7. As a buyer, you’ll benefit from having immediate access to hot new listings as they crop up on the market. 

…

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Are you thinking about buying an Edmonton home? Unsure of whether to buy brand-new or a home that’s been previously owned? While each style has its perks, the decision ultimately comes down to which purchase will best suit your unique wants, needs and lifestyle.

Here are a few advantages and disadvantages to consider:

New Construction Homes 

Buyers considering a new construction home in Edmonton can find a property in a number of flourishing new neighbourhoods around the city.

New Construction Home Advantages:

  • Potential to Customize – When building from the ground up, you’ll get to choose every fit and finish right down to the last detail. The same option may apply to spec homes, which are already in construction but have yet to…

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