Lots of people seem to be migrating from all across Canada to resettle in the West, primarily in Alberta. Why? What is the major draw? Well for one the workforce demand in Alberta is higher than anywhere else in the country, making it appetizing for Canadians from Newfoundland right to British Columbia. Edmonton real estate is another big reason why people are flocking to Alberta. Although the market in Edmonton can be aggressive, its considered fair overall when compared to other markets across the country that simply don’t offer the same job and wage prospects.
A good starting range for Edmonton real estate is about $300K. For this price you can get a decent starter home, single-detached, or a very nice condominium. While $300K might seem steep for the first-time buyer, in Edmonton many wages, especially for skilled labor jobs (oil field, or any trades work) can pay upwards of $40/hr. Similarly, jobs in the medical field also pay substantially more in Alberta than in Eastern provinces. The thing is, in Eastern provinces many homes still average out to $300K. While they may be a little more than a starter home, it’s still a lot to ask in a province where wages and work just don’t measure up.
Edmonton has become a great place to purchase investment properties as well. Whether you are in the market to find rentals or to flip homes, Edmonton real estate offers many fantastic opportunities. If you are willing to invest in a property to increase its value (replace some floors, update a kitchen etc.) you can purchase a great home at a very reasonable price, and turn it around for a significant profit. This is another reason why people are loving the Edmonton real estate market. You don’t have to be a skilled labourer to make a great living in Edmonton- or even see a side hobby really pay off.