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Finding Your Home Sweet Home: A Newcomer's Guide to the Edmonton Real Estate Journey

Hey there, future Edmontonians! Moving to a new city is always an exciting adventure, and Edmonton, Alberta, offers a vibrant lifestyle and a booming real estate market. As a newcomer, diving into the Edmonton housing market might seem like a daunting task, but fear not! Your friendly neighborhood REALTOR® is here to guide you through the process. Here are some valuable tips to help you navigate the Edmonton housing market successfully:

1. Understand Your Budget:

Before you start your home search, figure out your budget. Consider your income, expenses, and potential mortgage rates. Getting pre-approved for a mortgage will give you a clear picture of how much you can afford, making your search more focused.

2. Explore Different Neighborhoods:

Edmonton is a city of diverse neighborhoods, each with its unique charm. Research communities that align with your lifestyle and preferences. Whether you prefer a bustling urban vibe or a serene suburban setting, Edmonton has something for everyone.

3. Work with a Local REALTOR®:

Having a knowledgeable local REALTOR® (like me) by your side can make a world of difference. I am well-versed in the Edmonton real estate market and can help you find properties that match your criteria. From negotiation to paperwork, I’ve got you covered.

4. Consider Your Commute:

Edmonton is a sprawling city, so consider your daily commute when choosing a neighborhood. Think about the distance to your workplace, schools (if you have children), and other amenities. Edmonton's public transportation system and road networks are well-developed, making it easier to get around.

5. Stay Updated with Market Trends:

The real estate market is constantly evolving. Stay updated on market trends, housing prices, and upcoming developments. Being aware of the market dynamics will empower you to make informed decisions.

7. Be Prepared to Act Fast:

Edmonton's real estate market can be competitive, with properties sometimes selling quickly. If you find a home that meets your criteria, be prepared to act fast. Having your finances in order and working with a proactive REALTOR® can give you an advantage in a competitive market.

8. Embrace the Edmonton Spirit:

Lastly, embrace the spirit of Edmonton! The city is known for its friendly residents, diverse culture, and numerous festivals and events. Get involved in the community to truly experience the essence of your new home.

Remember, I’m here to assist you every step of the way. If you have any questions or need guidance, feel free to reach out. Happy house hunting, and welcome to Edmonton!

Brought to you by Jason Hafso - REALTOR® with MaxWell Challenge Realty

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How to prepare your family for fire emergencies

(NC) Fire can spread rapidly through your home, and the National Fire Protection Association predicts you may only have as little as one or two minutes to escape safely once smoke alarms sound.

“We encourage everyone to evaluate their level of preparedness against potential dangers,” says Ashley Gocken of First Alert, a leading fire safety brand. “It’s imperative that people develop and practice a fire escape plan and install, maintain and regularly test smoke and carbon monoxide alarms. These are life-saving practices that can make a real difference.”

To ensure you and your family are prepared and protected, follow these steps:

Check your alarms.

Early detection is critical to preventing tragedies. Install smoke and carbon monoxide alarms in every bedroom and on every level of your house, including the basement. Test them regularly and change the batteries every six months. To eliminate battery replacements for a decade, upgrade to 10-year battery alarms.

Map your home.

Involve everyone in your household when developing escape routes. Walk through your home and inspect all possible exits. Identify two ways out of each room, including windows and doors. Make sure everyone in the home understands the plan.

Practice your plan.

Conduct fire drills at least twice a year during the day and night, making it as realistic as possible. Allow children to master the fire escape routes beforehand. The objective is to practice, not to frighten, so telling children there will be a drill before they go to bed can be as effective as a surprise drill.

Have a meeting location outside.

Choose a designated outside meeting place a safe distance from your home. Once you’re out, stay out. Under no circumstances should you ever go back into a burning building. If someone is missing, inform the fire department dispatcher when you call. Firefighters have the skills and equipment to perform rescues.

Find more home fire safety tips at firstalert.ca.

 
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Smart ways to save for a house or condo

(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, so it’ll be easier to set aside and watch your savings steadily grow.

Switch to a no-fee bank account
A small step that you can take that will add up to big savings in the long run is switching to a no-fee bank account. The PC Money Account is the bank account reimagined with no monthly fees and opportunities to earn PC Optimum Points on every dollar spent everywhere you shop. Now, instead of having to pay monthly banking fees, you can put your hard-earned money towards saving up for a house or condo.

Cut down on unnecessary spending
Try cutting back on expenses such as takeout food and shopping for things you may not actually need, like subscription services. Instead, put this money, which could potentially add up to thousands each year, towards a significant investment opportunity, such as a future home.

 
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4 easy tips to make working from home so much better

(NC) After a year of working from home for many of us, it’s only natural to be hitting a rut. No matter how great your at-home work setup is, you might need a refresh.

Here are few tips to make working from home so much better:


1. Declutter your workspace
A lot of work-related clutter can build up over time. Take a few minutes to collect any office items lying around the house, such as your video call headphones or your loose papers and sticky notes. Then recycle anything you don’t need and store the rest in a dedicated location. You’ll feel fresher and ready to take on what’s next.

2. Upgrade your workwear
Just because you aren’t going into the office doesn’t mean you don’t deserve to feel your best and look sharp. If you’re keen on business wear, try easing into a new pair of pants or a simple summer dress to find a more relaxed summertime vibe. If you’ve defaulted to pyjamas and sweats every day, consider finding the happy medium with a new pair of sleek joggers, just for a change.

3. Get outdoors

Take advantage of the season and head outside while you can. A quick walk in a local park is a great way to take a break or end your workday. If you have a backyard or balcony, set up a simple internet extender to move the office outside on warm days. The fresh air will lift up your spirits and do wonders for your productivity.

4. Boost online security for your personal devices
According to a recent survey, only 18 percent of Canadians are using online identity theft protection tools, and most of us just don’t know where to start. With so much online activity taking place, including a high volume of info sharing, we’ve become increasingly vulnerable to cyberattacks and identity theft, so it’s worthwhile to update your security measures for your personal devices as best as you can.

While no one can prevent all identity theft or cybercrime, using an all-in-one solution like Telus Online Security Powered by NortonLifeLock can help protect your personal devices, online privacy and information. Made for consumers, the comprehensive coverage is available across Canada (excluding Quebec residents) and includes multiple layers of protection that can help protect your identity and provide restoration if your personal information is ever stolen.

Overall, changes like these can help bring peace of mind to your work-from-home life going forward. Find more information at telus.com/onlinesecurity.

 
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Identity Theft

Identity theft has been on the rise so I thought I would share some information to protect yourself from identity theft.

How to Spot Identity Theft

  1. Review your credit report regularly to spot suspicious account openings.
  2. Check banking transactions regularly. Report anything strange immediately.
  3. Recognize, and look into it, if youre not getting important pieces of mail (i.e. bills, bank statements).
  4. You are receiving calls from debt collectors about debts that aren't yours.
  5. You get a notice that your information was compromised at a place you do business with or have an account. 

How to Protect Yourself

  1. HTTPS. Purchasing or putting your information into a website that does not have the prefix HTTPS means it is not secure. Watch out for sites that only have HTTP.
  2. Secure your mail. Do not leave any trace of information on credit card statements, utility bills, and the like. This is a strategy lots of thieves use to gather information from you. Shred anything that has your name and address on it.
  3. Read your credit card statements thoroughly and often.
  4. DO NOT EVER give personal information such as your SIN, DOB, and banking information away without 100% knowing who you are talking to - even if they are threatening you with legal action or imprisonment. 

Here is a true story:

I recently had some clients who had their house up for sale and received an offer. They were so excited and went off to put an offer on the home of their dreams. When it came time to get their mortgage financing in place, the mortgage insurers declined the client. We couldn't understand why as they had solid employment, great credit, no debt and their own funds for the down payment from the sale of their home.

After digging a little more, we pulled their Trans Union credit bureau, which is what the insurers pulled and saw that a credit card with a limit and balance for $22,000 was outstanding for 4 months and was heading to collections. When this was discussed with the clients, they noted it was not theirs. So, I directed them to reach out to Equifax and Trans Union and do a fraud inquiry. Here is what was found out:

The credit card had been open for 14 years ago, each time, drawn down and paid in full. When this typically happens, the lender keeps increasing the limit until it reached $22,000. At this time, they had taken a cash advance for 22k and walked. The mailing address of the cardholder was Montreal Quebec. The client had never lived there. They thought this would be cleared up quickly but to their surprise, it could take up to 6 weeks so no lenders would proceed with their purchase. They had to walk away from the offer on their dream home as they couldn't get new financing till the fraud was cleared up and they also had to walk away from the sale of their home as they would be homeless.

This is just a prime example of starting your preapproval process early so that any surprises can be detected early on.

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Rich in bricks but strapped for cash? How to own a home without being house poor

(NC) The term “house poor” is likely one we’re familiar with as Canadians. Given the ever-changing housing market, it’s something you may even have identified with. But what does it really mean? And how can we avoid it?

“House poor” is a situation that describes a person who “over-extends” themselves and spends an unusually large proportion of his or her total income (roughly 30-40% or more) on home ownership, including mortgage payments, property taxes, maintenance and utilities. If you’re feeling like a disproportionate amount of your income goes towards your home-related expenses, then you might be in this group.

According to the 2019 RBC home ownership poll, half of Canadians claim they would avoid a situation where they become house poor as they say it’s mentally stressful and financially irresponsible.

However, one in four Canadians does identify this way and approximately one in ten is prepared to put themselves in this position. Here are some budgeting tips to avoid it:

Adjust your expectations. Buying a home can often be about compromise. This may mean expanding your neighbourhood scope or looking at condos or townhomes instead of detached homes. The poll found that proximity to public transit and work are compromises that most Canadians are willing to make.

Take your time. Buying a home is one of the largest financial decisions you will make. Take some extra time to make sure you have saved what you need to live comfortably and understand fundamentally what you need to buy your first or next home. Creating a budget and payment plan schedule is a great way of staying on track.

Broaden your horizons. Rate is just one aspect of shopping for a mortgage, and solely focusing on it can have negative impacts in the long run. It’s important to make sure you have the right mortgage to suit a variety of needs and the flexibility to adapt to potential changes in your life. Consider the type of mortgage, term and amortization rate, as well as factors including if this is your first house, an investment property or you are buying and selling at the same time.

See just how much you can afford at rbc.com/60seconds.

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How to put out a fire at home before it starts

(NC) For many of us, the aesthetics of our home –– a colourful garden, new furniture or trendy appliances –– often become our primary focus. But this can leave little time for unseen elements that can become a safety hazard.


Something overlooked like a loose or frayed cord can spark a house fire, and this happens most frequently during the winter months, according to the Canadian Red Cross.


It doesn’t take much for a fire to start in your home, but it doesn’t take much to prevent one. That’s why around this time of year, it’s crucial to take small, precautionary measures that will keep your family out of harm’s way. Here are four easy steps for a fire-free home:


  1. Develop a fire escape plan. Should a fire occur, it’s important to evacuate the home as quickly as possible. Creating a fire escape plan and practicing that plan twice a year will help ensure the safety of your loved ones in the event of a fire.
  2. Check smoke detectors frequently. A functioning smoke detector can be the difference between a false alarm and a life-threatening scenario. Install them on every level of the house and take the time to test them monthly, replacing batteries at least twice a year; daylight saving time always serves as a good reminder.
  3. Store and recycle batteries the right way. Once you have changed the batteries in your devices, be sure to recycle the old ones. Used batteries that are disposed of or stored incorrectly or damaged can be a safety hazard. Keep your home and the environment safe by recycling all your old batteries. Call2Recycle Canada has more than 8,000 drop-off locations across the country, so one is bound to be close by. You can visit their website at call2recycle.ca and plug in your postal code to find one closest to you.
  4. Pay attention to detail. Have an eye for the little things. Make sure your home’s heating sources are clean, as many house fires are started by poorly maintained furnaces or stoves, or chimneys with buildup. Check wiring and cords and fix or replace any frayed extension cords, exposed wires or loose plugs. Finally, make sure to store combustible materials in open areas and away from heat sources.
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