Real Estate Blog - July, 2014

Starter Homes Part 2

So what is the new definition or trend in starter homes, if not what we are commonly used to seeing? Well, many real estate markets (especially in major cities) are very expensive to get into. Buying a home in an established neighbourhood can be quite costly, and based on the housing demand, could be impossible to find. As major cities in Canada continue to grow, so do the amount of development projects, which often provide brand new housing in a variety of styles and price ranges.

Because of this, many people are purchasing brand new homes for their first home. This means that walls and ceilings are fresh and unstained, flooring is new and environmentally friendly, and you won’t have to replace your roof or kitchen for years to come- if ever! The…

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Starter Homes Part 1

Many people want to move into a brand new home where they don’t have to lift a finger to make the place livable. The idea of the starter home, for many people, is now about size rather than quality. In decades past the starter home was often smaller than desired, as well as older. First time buyers would purchase a starter home knowing full well that it wasn’t ultimately what they wanted, but rather simply what they could afford. This was normal.
With an older and smaller starter home, first time buyers were able to get their foot in the real estate door, without going broke. Over time the home would become more valuable as it was upgraded. New flooring, a new roof, fresh paint and maybe even a renovated bathroom or kitchen eventually, would allow the…

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Living in a New Real Estate Development

There are some really great aspects of living in a brand new neighbourhood. Primarily, you get the benefit of knowing that all the homes are new and you don’t have to worry about the same things you would in an established neighbourhood – such as whether a home on your street is condemned, or the lawn looks like a farmer’s field. There are many perks to buying new real estate.
New developments mean new parks, playgrounds and walking trails. There is a good chance the majority of your neighbours will also be home owners, and not tenants (although not always), which means there is a higher likelihood that the homes and properties will be well taken care of. The only real downsides of new real estate developments are trying to live in an ongoing construction…

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The Cost of Selling Your Home

What is the cost of selling your home?

Actually selling your home won’t cost you a fortune – not out of pocket anyway – unless the home needs some work done first. Your realtor generally takes their commission from the sale of the home, and doesn’t receive anything until the home sells – this is why realtors are so motivated to work for their clients. Your realtor will handle advertising your home on all the relevant channels (online, in newspapers, and with signage).

What if you’re selling your home privately?

If you decide to sell your home without a realtor then there is a good chance you will incur many out of pocket expenses. While you can advertise your home for free online in many places, reaching as far as a realtor, for as long as you…

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The Many Faces of Real Estate

Buying your first home
There are many things you need to take into consideration when buying your first home. From the budget to the wish list, buying a home can be exciting, stressful and even financially straining. Getting into real estate is often the single best investment anyone can make – even if the only real estate you own is your family home. When getting ready to buy your first home, you’ll want to make sure you speak to your bank or whoever it is you plan to get your mortgage through. Getting preapproved for a mortgage can eliminate a lot of stress during the home buying process. Secondly, you’ll want a great realtor – someone you feel comfortable with and trust. Lastly, ensure you have enough money accumulated to cover all your buying costs,…

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Finding Homes for Sale in Edmonton

Where to begin?
Edmonton is a busy city, particularly when it comes to real estate. The market is known for being hot and fast-moving, making it necessary for buyers to be decisive and informed when house hunting. If you are looking at homes for sale in Edmonton, you’ll want to do your research ahead of time to ensure you can give your realtor all the information they need to find the best housing options for you.
Start by deciding on an area of the city that you want to concentrate your search in. You’ll want to consider transportation routes and options, proximity to your work place, or schools if applicable, and how near you will be to important amenities.
Housing type
What sort of home are you looking for? If you are willing to consider buying any type…

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Deciding to Get into Real Estate

Real estate is a lucrative business, even for those who aren’t realtors. Investing in the right real estate can pay off big, while investing in the wrong real estate can cost you big – its anything but a risk-free business. One of the major draws of real estate is the potential for earning. Flipping and selling homes, or owning properties and renting them out can pay some pretty incredible returns – but it’s a lot of work and certainly not for everyone.
Just get your toes wet
Rather than diving in head first, you should approach real estate slowly. Research the market you want to shop in very well. Find out what the housing demand is like and what is the busiest price market for your area. You want to provide yourself with the best chance at success and…

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Looking Forward to Homeownership?

Everyone has goals in life that they hope to achieve by a certain, and for many, homeownership is a big one. Buying your first home is often only something you can afford to do after a lot of hard work and saving.

The Work
Paying off major debts like student loans and credit cards is a vital part of getting ready to own a home. Banks want to see good credit before they approve a mortgage - but they also need to see that you have money in the bank for a down payment and closing costs. Your down payment can be a gift from your parents but it can't be borrowed. You have to remember that homeownership is a major financial investment, and you don't want to be house poor - this means freeing up as much of your income as possible beforehand, is important.

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