Real Estate Blog - September, 2016

The Pros And Cons Of Buying New Condos

So you’ve decided to buy a condo. In Edmonton’s current real estate market, that’s an excellent decision, especially since so many condo developments are currently being built. But for all of the new places in the construction phase, it may be difficult to see the advantages of buying a resale condo over a new one. Here are some key considerations for new condos, and why each including important advantages and disadvantages.

New condos are usually sold before they’re even built, which means you can (sometimes literally) get in on the ground floor of a development. A new condo will be yours first and you get to make it whatever you want, as long as it’s in line with whatever the condo board allows.

Advantages:

New condos have a number of…

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The Amenities that Actually Impact Your Home’s Value

The game of house pricing can often seem like staring into an abyss, throwing something in, and just seeing what happens. Some renovation projects, for example, can actually lower your home’s value, others may only help you break even, while seemingly innocuous improvements can net very large gains. Thankfully, when it comes to amenities, there are some tried, tested, and true things that will increase your home’s value. here are the amenities that matter, whether they’ve been proven to raise or lower your home’s value, and how to use them to your advantage when selling or buying.

Con: Train Tracks

Nearby train tracks lower your homes value and it’s not difficult to see why: the constant noise is hardly a selling feature. We have consistent evidence…

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Simple Steps To Make Your Rental Perfect For Animals

When landlords think of pets, they often think that they’re simply not worth the effort. Being prone to extra noise and possible damage, many landlords would rather say “no pets” and be done with the issue. But it turns out that there are plenty of advantages to having pet owners as renters or tenants. Not only are they statistically more stable, income-wise, you can often charge pet owners a little more in rent just for allowing them to be there. Plus, mitigating the risks associated with pets and pet owners is very simple. Here’s a few things to do when renting to pet owners to get the most out of your experience.

1. Interview the Pet and Pet Owner

While interviewing potential renters is pretty much mandatory, many landlords neglect to meet the…

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British Columbia Real Estate Industry Getting Overhauled

In a press conference last week, British Columbia premier Christy Clark did not mince words about her province’s real estate industry. Sitting on one of the most expensive markets in North America, if not the world, she has opted to reign in the powers of the industry to regulate itself after years of leaving them to their own devices.

Christy Clark outlined a new approach to the real estate industry in her province, which will include a government-appointed Superintendent. According to Clark, the new plan “will include transferring all authority for regulation, for penalties and rule-making away from the Real Estate council, and put it directly in the hands of the Superintendent.”

The major shift comes after a major “shadow-flipping” scandal was…

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Important Information About Gifted Down Payments

The modern housing market in much of the world has made it nearly impossible for many people to get into the market on their own. In fact, most people were gifted some amount of money to help them get into the real estate market, both in Canada and in many parts of the western world. If you’re looking to buy a home and need help getting that 5% down payment (plus 10% of any amount over $500,000), then you need to know if you can be gifted that money, how it affects your mortgage application, and how to go about it in the best way possible. Here are some tips about gifted down payments that you need to know.

Gifted down payments can’t simply come from anyone, they have to come from someone that the lender considers “arm’s length.” This essentially means…

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