Edmonton is lucky in many ways, but one of its biggest advantages is the amount of space it has to grow. Citizens in Edmonton and the surrounding area have been gifted with the ability to buy in rural or acreage markets and still be able to drive into the city for work without crazy commute times. It’s a phenomenon that other parts of the country do not get to experience. But buying property in rural areas is much different from buying in the city. If you’re considering moving out into the country, here are some tips to make sure you get what you want, need, and love.

1. Think About the Costs

It’s true: rural living often comes with much lower property taxes, especially if you are living south of the city, but that doesn’t mean all of your expenses…

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Edmonton and Calgary have been making national headlines because of the economic downturn in Alberta, but not all the news has been bad news. In fact, real estate in Edmonton especially has had plenty of good news, especially when compared to Canada’s most overheated and volatile markets: Toronto and Vancouver. This month, the CMHC has released detailed assessments of each of Canada’s fifteen most substantial real estate markets. Here’s what they said about Edmonton, Calgary, and other important markets, and what that means for people buying and selling property in Alberta.

At the centre of Edmonton’s real estate market was a warning about pricing overall, but not in the way many consumers would expect. Instead of warning of falling prices that sink…

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Low ball offers are always a risk, ones that can have a great payoff for the buyers. But the low ball is an art form in and of itself, and those who want to use it must be careful not to make many of the small mistakes that turn sellers off. Here are some of the most common low ball mistakes that people make when buying a home, and how to avoid doing them the next time you go bargain hunting for property.

1. Not Factoring In Other Things

A lowball offer still has to have stuff that the seller wants, even if the price isn’t what they want. In these terms, it may be best to think of your lowball offer like a nonprofit looking for good workers. Classically, nonprofits offer much lower wages than private corporations, so to attract great accountants and…

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Your home’s foundation is one of the most important aspects of your home, and one of the most expensive to repair. But that doesn’t mean that you should simply cross your fingers and hope for the best. Instead, homeowners who want to save on foundation repairs are prudent in diligent when it comes to inspecting their home. The reason is simple: foundation repairs are cheaper when they’re less significant, so catching problems early is key. Here are some common signs that your home may have foundation issues.

1. Leaky Basement

One of the first signs that something is wrong with your foundation is a leaky basement. Water can come into your home from a variety of different sources, from broken plumbing to worn out windows, but it also frequently comes…

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Mortgages are complicated things that involve a lot of money. While the application process can be very convoluted in and of itself, it doesn’t mean that all that time applying means you know what all the numbers and figures mean. From the interest to the insurance, here are the most important components of your mortgage, and how each one effects what you are paying at the end of the day.

1. Principal

The principal of a mortgage is, simply put, the money you borrowed to pay for your home. So if you borrowed $250,000 to buy your property, your principal is $250,000. What you pay every month in your mortgage payment goes partly against that principal partly against the interest you are paying for the loan. So if your mortgage payment is $1000 a month…

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Downsizing is usually a great thing, even if it means you’re moving from something big to something small. Not only does downsizing represent the chance to start fresh, it also helps you set up for a more viable financial future. But it also means having to leave some things behind because of your new living situation. If you’re about to downsize, here are some tips on getting everything ready, what to toss, and what to keep.

1. Give Yourself Time

Decluttering for downsizing is a time consuming process, so be sure to leave yourself at least a couple of days to do it right. Not only do you have to personally assess each item up for consideration, but you have to give yourself a few moments to say goodbye to things. Everything in your home has value…

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The mortgage approval process in Canada is surprisingly straight forward even if it appears to require a lot of paperwork and time. Here are the typical things involved with getting a mortage approval in Canada.

Step 1: There’s Actually Two Steps

Mortgage qualification in Canada is actually a two-step process at the beginning, with evaluation coming in the forms of the person applying for the mortgage and the property itself. Naturally, the economical situation of the applicant needs to be considered to see if they can afford to make the mortgage payments, etc. The other things inspected is the home itself, which needs to be considered for the amount of money asked and that it provides enough security for the amount of money required for the loan.

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Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton. Copyright 2023 by the REALTORS® Association of Edmonton. All rights reserved.

Listing information last updated on June 5th, 2023 at 8:16am CDT.