There is a lot of talk about how real estate in Edmonton is hard to come by, and how there is a colossal housing shortage…but is this true? The answer is both yeas, and no. There is a shortage of housing in certain price ranges, but generally speaking, there are many homes available in the Edmonton market. It’s not so much that real estate in Edmonton is hard to come by, as it is how quickly it sells.
Edmonton is an employment hot-spot, and as such the population has seen consistent growth. This growth has simultaneously caused a growth in housing construction and a competitive real estate market. While there are many homes available to purchase, and many new homes coming available each day, there are also many people house hunting here. This means that real estate in Edmonton can often boil down to competing offers, and not leave much time to consider a property before losing it.
The overwhelming benefit of owning real estate in Edmonton is how valuable it is, and there is a very good chance you can make a profit off of it. This makes Edmonton real estate a good investment, whether you are looking to expand your portfolio, get into rental properties, or simply buy and sell for profit.
Renting in Edmonton is far less affordable than buying. Many rental properties are marked up as much as 50% due to the demand for rental housing, which is influenced by seasonal workers and military families. If you can afford to rent in Edmonton than you should be able to afford to buy real estate in Edmonton. It may take some time to save up for it, but in the long run it’s a better use of your finances than renting could ever be.