Terry Paranych Real Estate Group Blog - buying a home

The 5 Key Advantages of Buying a Home This Winter

With Edmonton’s freezing winters, the thought of braving the icy streets to hunt for your dream home might send a chill down your spine. But don’t hang up your house-hunting boots just yet! Believe it or not, winter might just be the best time to dive into the real estate market. While spring and summer get all the hype, there are a handful of advantages to buying a home in the colder months that you simply can’t ignore.

Let’s dive into five key benefits of buying a home in Edmonton this winter—you’ll thank yourself later when you’re settling into your new space before the spring thaw!

1. Less Competition: It’s All Yours!

One of the biggest perks of winter house-hunting? Fewer buyers! Let’s face it—most Edmontonians aren’t keen on bundling…

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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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6 Key Benefits of Purchasing an Infill Home in Edmonton

Simply put, infill refers to the process of building brand new homes on vacant or under-used land within an already established neighbourhood. This typically involves either buying an existing, older home and demolishing it to build a brand new one OR buying a vacant lot (in which the home has already been removed) for the same purpose.

For Edmonton home buyers seeking both a contemporary new home and a mature community characterized by tree-lined streets, walkability, established amenities, and endless charm, infill homes represent the best of both worlds.

Could an infill home be the right decision for you and your family? Here are six key benefits to consider:

1. Fantastic Locations

Edmonton is home to an amazing array of diverse,…

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Canada’s First-Time Home Buyer Incentive Explained

Are you a first-time buyer struggling to purchase a new home in Edmonton? Canada’s First-Time Home Buyer Incentive may help make homeownership more affordable.

What Is the First-Time Home Buyer Incentive and How Does it Work?

Simply put, the First-Time Home Buyer Incentive helps first-time home buyers live more affordably by reducing their monthly mortgage payments. Without adding to their current debt load, first-time buyers can enter into a shared-equity mortgage with the Government of Canada, which will match the buyer’s initial minimum down payment by an additional 5 or 10% (10% applies to newly constructed homes, only).

In receiving the Incentive, first-time buyers may not need to save as much to make their mortgage payments more…

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How Long Does It Take to Buy a Home?

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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8 Key Advantages of Buying a Home This Fall

Of course, buying a home in Edmonton during the spring (or early summer) certainly has its perks. After all, it’s the most popular time of year for real estate. BUT, did you know for every good reason to buy in the spring, there’s an equally GREAT incentive to buy in the fall?

Here are a few things to consider:

1. Less Competition

One of the first (and best) reasons to consider buying in the fall is the lack of competition. As Edmonton’s hot weather tapers off, so does the real estate market. Because many homebuyers have already opted to purchase earlier in the year, there will be less buyer-based competition for you to worry about.

2. Taking Your Time

Less competition also results in less pressure to run out and buy the first…

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First-Time Home Buyer FAQs

How Do I Know If I’m Ready to Buy My First Home?  

While the “right” time to buy will vary based on your unique circumstances, here are a few signs you might be ready:

1. Your credit is in good standing (more on that below) 
2. How have a stable job 
3. You’re planning on staying put 
4. You’ve saved a down payment 
5. You can afford monthly mortgage payments (as well as current debt payments, taxes, bills etc.) 
6. You can afford maintenance and upkeep 
7. You’ll still have money left over after you buy

Will My Credit Score Impact My Ability to Buy?  

Your credit score is one of the first things a lender will look at when deciding to qualify you for a mortgage. This is because your credit history is a clear indication as to whether you…

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How to Buy a Home and Save a Ton of Money

Is it really possible to buy a home in Edmonton AND save money at the same time? With the right information, you bet it is. Here are a few key strategies to help you buy your dream home without breaking the bank.

Work With an Edmonton REALTOR® 

Whether you’re just starting out or you’ve had tons of real estate experience, partnering with a qualified Edmonton REALTOR® WILL save you money (potentially thousands)! Navigating current market conditions, assessing a home’s true value and expert negotiation skills are just a few of the many ways your agent will help you save on your dream home. 

Establish Your Wants Vs. Your NEEDS 

Viewing homes without understanding your wants and needs is a lot like visiting the grocery store with no grocery…

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