Edmonton Real Estate Blog

It is wise to ask questions (simple or complex) when buying an Edmonton house.  However, sometimes the answers get lost because of the excitement that you feel when you finally see that Edmonton house that could be yours, for the first time!  Emotions may be high but it is best to think with your head and not just with your heart.

In order to help, here are some simple questions to ask when buying an Edmonton house.

About the Price

• How much will you offer?

You should research the location of the Edmonton property and compare prices to know how much is reasonable.  Home values are constantly changing!

• How long has it been on the market?

You can negotiate a discount if the Edmonton property has been on the market for quite some time.  The sellers may be quite motivated to sell and move on!

• How many offers has the Edmonton house received?

You should give a firm offer for an Edmonton house that received numerous offers.  Obviously, it is quite popular.

About the Location

• What are the other types of Edmonton properties in the area?

When it’s time to resell, certain neighbourhoods have better value in this regard.

• How far are main roadways and highways from the Edmonton house?

Traffic brings noise and noise brings discomfort especially if the freeway is close to the Edmonton house.  But not being too far away brings convenience for driving.

• What is the crime rate in the neighborhood?

The safety of yourself and your family is a top priority when buying and Edmonton house.  This can be checked through the City of Edmonton Website.

• Are the amenities close?

From schools, malls, restaurants etc. Knowing that amenities are close by is a comforting sign for an Edmonton property.

Condition of the Edmonton House

• How old is the Edmonton house?

The price could be lower or higher depending on the age of the home.

• What is the material of the roof?

The condition of the roof depends on the material used.

• What type of foundation does it have?

There are different types of foundations and it is important to know what kind has been used in the Edmonton property for insurance and other purposes.

• Are there repairs needed?

Knowing if there are repairs needed in an Edmonton house is important. From roofing, drainage to plumbing and electrical systems etc. you may be able to negotiate a lower price and you will also have an idea as to the amount of savings needed for these repairs.

Remember to follow Serge on Instagram @SergeBourgoin and get a first hand view on how he’s helping Edmonton homebuyers, sellers and investors.

For a complete list of available Edmonton homes for sale, check out the new Edmonton MLS listings.

Buying an Edmonton house is one of the most important decisions you’ll ever make in your life. From picking a location to choosing a mortgage loan, there are plenty of things to decide on when buying an Edmonton house.

With a whole lot of patience and a proper mindset, you can answer these questions without any doubt.

Here are 5 questions to think of before buying an Edmonton house.

Are You Ready to Settle Down?

The first question to ask yourself is: Are you ready to settle down? Deciding to buy an Edmonton property should not be driven by impulse. This will be a big investment and that’s why you’ll need to think it carefully. It will be a nuisance (financially and emotionally) later on to realize that you aren’t ready to settle down yet.

How much is Your Budget?

Money is what will drive this process. Without the proper estimate of your budget, you’ll just be blindly searching for an Edmonton house which could result in failure. You should know your budget. By answering this question, you will also know if you are going to require a mortgage loan. By doing so you’ll know which Edmonton house you can afford.

What’s Your Credit History?

You may find an Edmonton house that is within your price range but you’ll still need to know if you can close the deal. Before making an offer on an Edmonton property, it’s important to get pre-approved for a mortgage and before that takes place you need to know your credit history.  A damaged credit history can kill your hopes for an Edmonton house even if it’s just a little scratch.  Steps to repair your credit history will need to be taken in order to secure a mortgage loan in the future

Will you be Responsible?

From power outages to faucet leaks, you will be responsible for any repairs that will be needed in your Edmonton house. If you have limited funds available to you after paying for your mortgage, taxes and utilities, it may not be the right time to buy an Edmonton home.

Is This Really What You Want?

At the end of the day, you have to ask yourself is having an Edmonton house really what you want? Nobody will judge you if you want to back out and think about it for a year or two. It is a big responsibility to own your own property, but at the end of the process, there is a sense of fulfillment which only Edmonton homeowners can understand!

Evaluate yourself and your circumstances to see if you are really ready to buy an Edmonton house. Do not be pressured.  Do not think that you’ll never find your very own Edmonton home. Opportunities will eventually arise.  You just need to be ready when the questions come knocking.

Remember to follow Serge on Instagram @SergeBourgoin and get a first hand view on how he’s helping Edmonton homebuyers, sellers and investors.

For a complete list of available Edmonton homes for sale, check out the new Edmonton MLS listings.

After buying an Edmonton house, you will need to consider the other expenses which will be brought about by the purchase. You may not be thinking about it right now because of the excitement that you feel at the moment but sooner or later the realization will come that you’ll need to buy different items to prepare your Edmonton home.

Read on to know what items to purchase after buying an Edmonton house.

Security

Securing your new Edmonton house is a top priority. Just like most people, the previous owner might have given his/her neighbors and close acquaintances keys to entrust in looking out for their previous Edmonton home. Change the locks after buying the Edmonton property, ensure there are dead bolts and better yet, consider installing an electronic security/monitoring system for extra protection.

Tools & Equipment

This is a must-have in every Edmonton house. If you don’t have one yet, then buy a well-stocked toolbox for future repairs and emergencies. Essential equipment needed in an Edmonton property could include pliers, hacksaw, hammers, tape measure, wrenches, screw drivers, flashlight, etc.

Appliances

Buying an Edmonton house most often comes with appliances. However, some older homes may have original appliances, and will need to be replaced.  If you have a tight budget,  consider buying gently used appliances which will save you a whole lot of money.

Snow Removal Equipment

Whether it snows a little or a lot, you’ll need to get snow removal equipment such as shovels, ice scrapers and even a snow blower if you have some disposable income to clear your Edmonton property.

Lawnmower

Don’t be that one neighbour whose lawn evolves into a jungle! Unless you plan to hire a professional caretaker for your yard, then it’s essential  to have your very own lawnmower.  And while you’re at it, better purchase some garden supplies for your Edmonton house.

Remember to follow Serge on Instagram @SergeBourgoin and get a first hand view on how he’s helping Edmonton homebuyers, sellers and investors.

For a complete list of available Edmonton homes for sale, check out the new Edmonton MLS listings.

Humans are very fearful creatures especially of the unknown. As a first time Edmonton homebuyer you’ll have doubts lurking in the back of your mind, wondering how you will know if you have found the right Edmonton house.

Delaying the purchase of the Edmonton property you have found could easily lead to somebody else snatching up the opportunity but rushing the buying process can result in disappointment over time.

With that in mind, we have come up with 7 ways for you to recognize that you have found the right Edmonton house.

Better Than the Rest

You had that “this is it” moment when you saw the Edmonton house. The previous Edmonton properties you had visited seem insignificant compared to what you are seeing right now. You want to finish the endless searching with this Edmonton house.

Inviting Vibe

The Edmonton house gives off an inviting vibe. It wants you to explore the interior of the Edmonton property from top to bottom. The feeling is just so right. Is this a sign? Yes, it is.

Envision

If you are seeing yourself redoing the interior and exterior paints of the Edmonton house, arranging furniture or you can even visualize where the perfect spot to put the Christmas tree, then this is a hint that the Edmonton house is the right one for you.

Defend the Edmonton House

While your Edmonton real estate agent discusses with you the faults of the Edmonton property you can see right thru them. “It could be fixed”, “I can live with that”, with every flaw you rebut without hesitation.

Basic Needs

There are enough bedrooms, there isn’t a swimming pool. There is a garage but no office. Not everything on your list is checked off but the basic requirements are given. Realizing that you can live in the Edmonton house without having fulfilled everything in your list is another hint that this is the one.

Bragging Thoughts

The excitement in you is manifesting after viewing the Edmonton house. Thru social media posts and sending photos to your close friends and family you can’t help but brag about the Edmonton house.

Buy It!

The uncertainties in your mind have suddenly vanished and all you can think about is buying the Edmonton house. You don’t want to sleep on it and your instincts are telling you to move forward –  Buy it!

Remember to follow Serge on Instagram @SergeBourgoin and get a first hand view on how he’s helping Edmonton homebuyers, sellers and investors.

For a complete list of available Edmonton homes for sale, check out the new Edmonton MLS listings.

Buying an Edmonton house is full of many steps and decisions along the way.  Sometimes we can make mistakes because we lack certain information which can help us. For the first-time Edmonton homebuyer, it can be a nerve-racking experience to venture out in the open to look for that Edmonton house you’ve always dreamed off.

To help you with your journey, we’ve come up with a list of potential errors that you should try to avoid when it’s finally time to buy that Edmonton house.

Not Saving Enough

An Edmonton house is a huge investment that requires saving a lot of money. It is wise to check your savings in the bank before you buy a home.  Also, consider other expenses like property taxes and utility bills before you purchase in order to save yourself undue financial stress.

Not Wanting to use a Real Estate Agent

First-time Edmonton home buyers often think that hiring a real estate agent may cost them a lot of money.  Not true.  Most of the time, the buyers’ real estate agent will negotiate their commission with the sellers and the sellers’ real estate agent. It is important to secure the services of a real estate agent. They have the experience to guide you through the whole process making it much easier to purchase your home.  As well, they will negotiate the very best price for you so in the end you will actually save money!

Not Doing a Home Inspection

A home inspection may cost you additional money at the outset but it is something that should be embraced. With a home inspection, you will be able to identify if there are any problems in an Edmonton property and help you gauge the possible costs to fix.  In certain situations, you may walk away from purchasing a money-pit.  In the end, a home inspection can actually save you big dollars.

Not Researching

Before making an offer on the Edmonton home that you think might be the right one, do your research. Look into possible neighborhoods, accessibility to amenities and even the crime rate of the area. Knowing your facts will help you keep focused remain smart in your decision making when it comes time to write an offer.

Not Knowing Your Limit

Be realistic when looking for an Edmonton house. Buy what you can afford, not necessarily what you are approved for!  It’s easy to get caught up in the purchase process raising the bar higher and higher.  By sticking within a budget will help you turn an Edmonton property into your Edmonton home!!

The choices we make define who we are.  We make mistakes and hopefully learn from them.  But if you know what to avoid from the beginning, the life lessons may not be so difficult!!

Remember to follow Serge on Instagram @SergeBourgoin and get a first hand view on how he’s helping Edmonton homebuyers, sellers and investors.

For a complete list of available Edmonton homes for sale, check out the new Edmonton MLS listings.

There may be a time when the market becomes tight.  This happens when inventory is low and as a result, Edmonton home prices tend to go up in particular areas. It can be an overwhelming process to buy an Edmonton house, especially in a tight market.

Read on to know what to do in this kind of situation.

Know Your Budget

The Edmonton buying process starts with knowing your budget. Besides your savings, you can get pre-approved for a mortgage to get an idea of what your financial limit is. Consider additional costs such as taxes and utilities when buying an Edmonton house.

Work With an Agent

Don’t underestimate the value of an Edmonton real estate agent. With their unparalleled wisdom and years of experience, they can give you an advantage which is badly needed in a tight market. Work with an agent who is familiar with the neighborhood where you are considering buying an Edmonton property.

Choose what is Important to You

With the market being tight you may need to choose between what you really want with what you really need. There are many wants that could be easily added to an Edmonton house after purchase such as hard wood floors or an office. But there are certain wants which cannot be addressed later, such as living in a certain neighbourhood.  Prioritize and then sacrifice where necessary.

Be Ready to Decide

In a tight market, Edmonton properties rarely stay for long. When an Edmonton house becomes available with all the requirements you want, be ready to make an offer on the Edmonton property. If you hesitate in this kind of setting then chances are the only opportunity for you to buy an Edmonton house will come to pass.

You don’t need to over-complicate the buying process on your end when looking for an Edmonton house in a tight market. With the right preparations and the right agent, an Edmonton property will be yours in no time!

Remember to follow Serge on Instagram @SergeBourgoin and get a first hand view on how he’s helping Edmonton homebuyers, sellers and investors.

For a complete list of available Edmonton homes for sale, check out the new Edmonton MLS listings.

How do you know that the Edmonton house that you are looking at is the right Edmonton home for you? Is it gut feeling or is it the right price? Maybe it’s just plain ol love at first sight!

Here are some tips to help you find the right Edmonton home.

Don’t Believe the ‘Excitement’ (Good or Bad)

When looking for an Edmonton home in a particular area, do your own research of that neighbourhood. Is hot or not?  Don’t get carried away by the hype. The internet is one tool to use to find information about a certain location. Look for great insights into the area you’re considering for your next move.

Location

Be very clear about what matters to you. You want a property that delivers to you what you need now and also what you need in the future. Do you need access to major roads, public transportation, entertainment centers, schools etc?

If you want to be sure about the home’s location, then you could try to do some field work in the area. Try walking around, grab a coffee or a meal. Pretend that you are already living there. Experiencing firsthand the area gives you an idea for the reality of that location. This experience can inform your decision about whether you really want to live in that neighbourhood.

Expert

Talk to local real estate agents or even better hire one from the outset. You may think hiring an agent is expensive but in truth they can save you a whole lot of time and money. An agent can help you find the Edmonton home that you always dreamed and at the same time, can deal with all the intricacies of the buying process.

Upside Lookout

There are some locations hitting the bottom of a pricing cycle, so there are bargains to be had. Cooler periods in the housing market can be opportunity for you. It’s worth keeping an eye on interest rates and the latest market trends.  Your Real Estate agent can help you with that.

Inspect Smartly

Sellers naturally stage their properties to make sure they look their best when you visit them. Make sure to have your ‘A Game’ when inspecting. You don’t want any troubling leaks or pest problems in the near future after you buy your own Edmonton house. Hiring a certified and licensed home inspector can bring you peace of mind.

Knowing the state of the real estate market is useful to help you make your decision, but it shouldn’t be the only thing that motivates you. What matters in the end is whether it’s your time to buy for your own needs and circumstances.

Are you ready?

Remember to follow Serge on Instagram @SergeBourgoin and get a first hand view on how he’s helping Edmonton homebuyers, sellers and investors.

For a complete list of available Edmonton homes for sale, check out the new Edmonton MLS listings.

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Time and time again we hear stories of successful people around the world and they all have one thing in common – they worked hard to become experts in their fields!! They invested a lot of time, energy and practice into their fields of expertise.  And they weren’t afraid of the unknown. Looked upon it as a challenge. The same goes for the real estate industry – staying ahead of the competition means preparing so you can stay two or three steps ahead of everyone.

Here are some insights into preparing for buying and selling in the real estate market.

Research Local Pricing

When targeting a location, research the current price trends in that specific area. Look to see if the prices of Edmonton houses are accelerating faster in some locations than others. Check if the average Edmonton property is priced differently than in other neighboring cities. By doing so, this will provide you with an idea of where the biggest demand lies.

Mortgage Pre-approval

Getting pre-approved for a mortgage is favorable. The top advantage is a financial benefit. Once you are pre-approved for a mortgage, most lenders will lock in an interest rate for you for several months. This ensure that you get a lower interest rate if interest rates rise while you’re house hunting.

Look For Change

A sign that an area is up-and-coming and will be in demand in the future is the development of new infrastructure. When you see new roads, schools, malls and businesses being built, it’s a sign that the community is set to grow even more.

Know School Rankings

Access to quality education is a big selling point to new Edmonton home buyers.  When your are looking for an Edmonton property to invest in, check for schools that are moving up or are at the top of the rank list.  These are often desirable for parents.  There is a lot of useful information on school districts websites.

View the Outskirts

If Edmonton properties in a certain location have become overpriced, the areas on the outer fringes will most likely be in demand soon.  Values of areas close to major bus and rail transportation will certainly increase.

It pays to be prepared. When you want to be successful at something giving yourself whole heartedly. By preparing and expanding your horizons, new doors to worlds you can’t even dream of will open for you!!

Remember to follow Serge on Instagram @SergeBourgoin and get a first hand view on how he’s helping Edmonton homebuyers, sellers and investors.

For a complete list of available Edmonton homes for sale, check out the new Edmonton MLS listings.

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Researchers and trade groups have estimated that the median price of Single Family Homes in Edmonton will be up 3% to 5% this year. While we are still in the early months of 2017, this year is heading in the direction of becoming another seller’s market for  Edmonton Real Estate.  If you are thinking it’s too late to start your real estate journey for 2017 then you are mistaken. With the economy moving forward and the year just getting started, there is still enough time for you to kick your home search into high gear.

Here are some tips for buying Edmonton real estate in a Sellers’ Market!

Don’t Overreach

If you end up participating in a bidding war, you may end up overspending. Then in a market where prices stabilize or sink, paying an inflated price initially can make it hard to resell.  Rather than winning a losing war, look at comparable homes in neighboring areas with similar schools and amenities. Set a bid limit and work to have other deals in the works so that you have other options to choose from.

Always Be Ready

Don’t wait until you find an Edmonton home to get a mortgage, keep yourself pre-approved. If you wait until you find an Edmonton property to get a mortgage, that Edmonton home you have your eye on might be snatched up long before you get approved.

Handy Professionals

Hire a Real Estate Agent to assist you with the buying process. Then after you put in an offer on an Edmonton house, hiring your own inspector to give you a thoroughly analysis of the property will give you a sense of security. Hiring a professional can save you time and money in the long run so consider them as a choice rather than doing everything yourself.

Seek Out Up-and-Coming Neighborhoods

When investing in the real estate market, look out for new or resurgent business centers, light-rail stations, new retailers, schools, restaurants and other commercial tenants. These are signs that prices of Edmonton homes in that area will increase when all the amenities are up and working.

Beware of Hidden Costs

There are hidden costs involved when buying an Edmonton property such as mortgage insurance (depends on your down payment and credit rating), property taxes and other pre-occupancy costs. Always prepare for surprises by having extra money in your bank account beyond the down payment.

Remember, it is never too late to invest in the real estate market. The time for you is now!!

Remember to follow Serge on Instagram @SergeBourgoin and get a first hand view on how he’s helping Edmonton homebuyers, sellers and investors.

For a complete list of available Edmonton homes for sale, check out the new Edmonton MLS listings.

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The Edmonton home buying experience should not be a sad process no matter what. It should be an enjoyable experience before and after you buy an Edmonton house.

Before you start searching for that Edmonton dream home, here are some ‘what not to dos’ when buying an Edmonton house.

Not Looking For Help

There are too many Edmonton home buyers who think that they can do everything on their own. They are the ones who are not willing to make the commitment to be helped which is a big risk that they put onto themselves unnecessarily.  Why wouldn’t a buyer want to be supported by a real estate agent who has years of experience in buying and selling Edmonton properties?  Improve your chances of getting that Edmonton dream home by hiring an agent who will guide you through the process.

Not Getting Pre-approval

If you are not pre-approved, it looks like you are not a serious buyer to everyone involved in the process. But by getting yourself pre-approved, you will be taken seriously by sellers and you will know much you can really afford when looking for an Edmonton house.  Staying pre-approve will make things easier when you finally find the right Edmonton house because sometimes it can take longer than expected.

Not Making Sudden Decisions

Do not make sudden decisions such as getting a new job, buying a new car or opening new credit lines before a deal is almost done. This can jeopardize the transaction. Take your time and take advice from your agent for the best course of action, for the most positive development in the buying process.

Not Overpaying

Some Edmonton properties are at competitive price points and they are receiving multiple offers.  This can often result in an over-inflation of home prices. Lenders may take caution with a buyer’ who is willing to pay way beyond the appraisal value of an Edmonton house. The buyer may get rejected for a mortgage outright.

Not Hiding

You hire a real estate agent for a reason. If you have any questions, concerns, wants and needs with the Edmonton buying process then tell it to your agent. Don’t hide anything from them. Be sure to advise of them all specific wants and needs in order to make the buying process efficient and fruitful with only appropriate listings being presented.  By telling your Realtor exactly what you like and dislike in an Edmonton house, searching for the right Edmonton home will become a straightforward process.

Giving your very best even if you don’t win at first will give you the courage to carry on with what you are looking for. The day will come when you find the right house with the right price, with the right terms and it will be yours because you have prepared for that day. So stay prepared!!

Remember to follow Serge on Instagram @SergeBourgoin and get a first hand view on how he’s helping Edmonton homebuyers, sellers and investors.

For a complete list of available Edmonton homes for sale, check out the new Edmonton MLS listings.

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