Real Estate Blog - January, 2016

Things to Do Before You Move Out

So your house is sold and you’re moving on to something else. It’s an exciting time, filled with lots of packing, planning, and anxiety about the future. But before you turn the keys over to your home’s new owners, there are a few things you’ll need to do. Some of them are simply common courtesies, but others are in your best interests as well. Before you move out, be sure to cover this checklist.

1. Switch Your Utilities

Getting a double bill your first month in a new house is never a good thing, so be sure you switch all of your utilities to the new home before you get there. This will ensure that the lights actually turn on, but it also helps the people moving in to have everything ready as well. Some utility companies won’t switch until both…

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Co-Purchasing: The Mortgage Alternative

As rental rates in Edmonton seem to only be soaring, making that initial down payment a near-impossible option for many, one alternative is becoming a more commonplace practice in the Edmonton real estate market: co-purchasing.

Co-purchasing, or buying a home with more than one person (who isn’t a partner or spouse), is one possible way for people to get into the housing market who may not be able to afford an entire place on their own. The concept is simple: find some friends or business partners, find a house that either has suites or can be renovated to have separate suites, get a lawyer to draft up an agreement that makes everyone happy, and settle into your new home. It can be an effective way to get into the market early, and it can even lead to…

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Buyer Beware: Parking Spaces and Square Footage

Square footage, unlike the number of bathrooms or whether there’s an attached garage, is often something we have to take on faith alone. After all, it’s not like we’re going to bring a measuring stick and a calculator to every home we look at. It would take hours to get all the measurements, and most of the time they’d be right. But square footage is often one of the most important parts of a house listings. It gives a general sense for size and, especially in an increasingly condo-centric market, it can give the competitive edge during a sale.

In many of these instances, the mislabelled square footage is a problem of miscommunication for both the real estate agent and the potential buyers. The agent, for example, may not know all of what is being…

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No Land Transfer Tax a Welcome Aspect of the Alberta Budget

Alberta’s new NDP government tabled its first budget since it was elected earlier this year and, surprisingly, there’s one tax that has many real estate experts excited. Or, rather, a lack of tax. Unlike many other parts of the country, Alberta’s latest budget actually forgoes a fairly standard tax on home sales, a land transfer tax. The effort, seen by many as a way to keep housing affordable through the tougher economic times, is being praised by many in the Edmonton real estate markets.

The CEO of the Alberta Real Estate Association (AREA), Ian Burns, praised the move, arguing that the “budget demonstrates the province’s commitment to affordable home ownership,” according to a recent interview. Indeed, similar taxes in other parts of the country…

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