Edmonton Real Estate Blog

(NC) With Canada’s housing market hotter than ever, saving up a down payment can feel impossible. But wise spending and saving decisions can add up over time. Here, Vanessa Bowen, money expert and accountant, offers simple yet effective ways to save for the home you’ve had your eye on.

Ensure you have a good credit score
A better credit score means that you can qualify for lower interest rates and loans that you may require when investing in a future property. Working to improve your overall credit score, such as by avoiding late bill payments, will help make your savings go further as you look towards purchasing the house or condo of your dreams.

Contribute lump-sum payments to your savings
Large annual payments such as a work bonus or your tax return can be added as lump-sum contributions to your savings. Contributing larger sums helps you reach your end-goal more quickly, so remember to save these payments. It’s money you don’t count on in your day to day anyway,...

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If you're looking for a concrete highrise condo in Edmonton's downtown, the options seem endless. One criterion that often gets overlooked, especially when budgeting what you can afford, is the condo fees.


Condo fees can have a dramatic effect on the affordability of any condo, and it's important to know what the fees include. Some condos may start out with low fees when they're first built, but once a condo board and reserve fund is established, those fees can increase significantly and very quickly. Some buildings, at first glance, may seem to have high condo fees, but they may be including amenities such as a gym, pool, car wash, social/games rooms and guest suite. When you factor in the cost of a gym membership or paying to get your car washed, you may actually find you can save money. Some buildings even include extra utilities or services, such as electricity, cable and wi-fi.


When buying any condo, the fees and what they include is an essential consideration.


With that said, I've...

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