Being a first time home buyer can be a scary and exciting moment in your life. Being a first time buyer in Edmonton? Even more so. Edmonton is a competitive market but above all, it’s one worth getting into. Whether you are looking at it from an investment standpoint or you simply want to buy your first house, you couldn’t pick a better market than Edmonton.
What makes Edmonton so great?
From a real estate perspective the market is great for sellers. It’s pretty difficult to lose money on your real estate in Edmonton (although as with anything, markets fluctuate) and what’s more is that housing is in high demand. This means that a good property won’t be sitting on listing sites very long, so as a first time buyer in Edmonton, you want to make sure you invest in something smart. Choose an up and coming location, or one that is being totally overhauled. This will allow you to buy at a great price and sell at an even better one.
It seems too expensive. Can I get a good deal in Edmonton?
Absolutely. Depending on what you are looking for, there are several areas of the city where you can get a great property without a huge price tag. Some areas a first time buyer in Edmonton will want to consider are the future arena district and the school districts. The areas surrounding Grant McEwan University and the University of Alberta, are great places to purchase properties that need some updating. For a moderate price you can pick up real estate that needs some work, but will definitely sell easily once the work is done (or be easily rented out). As for the arena district, there are many brand new condominiums being built in this zone. Purchasing a condo during the construction phase is the best way to ensure a great price. After construction on the arena is completed, these condos are going to skyrocket in both value and demand. If you are looking to make a serious profit – buy here and now.