Are you thinking about buying your first home in Edmonton or the surrounding area? Becoming a homeowner is an exciting milestone — but it takes careful planning to get there. If you’re wondering how to start preparing for home ownership, this guide will walk you through the key steps to take.

1. Understand Your Financial Situation

Before you start looking at homes, take a close look at your finances.

• Check your credit score: A higher score can help you secure better mortgage rates.

• Pay down debt: Reducing credit card balances or loans will improve your debt-to-income ratio.

• Save for a down payment: In Canada, most buyers need at least 5% down, but 20% will help you avoid mortgage insurance.

2. Create a Realistic Budget

It’s important to know how much house you can afford — not just what the bank will approve.
Consider:

• Mortgage payments

• Property taxes

• Condo fees (if applicable)

• Home insurance

• Utilities and maintenance costs

3. Get Pre-Approved for a Mortgage

Mortgage pre-approval helps you:

• Understand your price range

• Strengthen your offers

• Show sellers you’re a serious buyer

Work with a trusted mortgage broker or lender who will help you explore your options and lock in a competitive rate.

4. Start Learning About the Market

The Edmonton real estate market changes throughout the year.
Research:

• Neighbourhoods that fit your lifestyle

• Current home prices and trends

• Types of homes available (single-family, duplex, condo, etc.)

Tip: The sooner you start learning, the more confident you’ll feel when it’s time to make a decision.

5. Partner With a Trusted Local Realtor

This is one of the most important steps. Working with an experienced Realtor helps you:

• Navigate the process from start to finish

• Access expert market insights

• Avoid costly mistakes

• Negotiate the best terms

If you’re thinking about buying a home in Edmonton or the surrounding area, I’d be happy to help. As a full-time, experienced Realtor® with MaxWell Challenge Realty, I guide buyers through every step — from first showing to keys in hand.

6. Stay Organized and Patient

Buying a home takes time. Stay organized with:

• A checklist of what you need to do

• Regular check-ins with your Realtor and mortgage professional

• A willingness to be flexible as you search

Ready to Take the First Step?

If you’re preparing for home ownership in Edmonton, let’s connect. I’ll answer your questions, help you create a personalized plan, and support you every step of the way.
👉 Contact Jason Hafso – Your Edmonton & Area Real Estate Expert

(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.

(NC) COVID-19 has brought changes to everything, and home design is no exception. Experts are expecting to see lasting impacts on everything from the materials we use to the rooms we prioritize. Check out these and other noteworthy trends:

Houses over apartments. Many people who live in condos or apartments do so to be closer to the action – work, entertainment and shops – and never planned on spending much time at home. But the pandemic has changed that, and more people are going to want a home that offers plenty of room and outdoor space in case they need to self-isolate again.

Self-sufficiency: A hard lesson we’ve learned is that things and services we thought we could count on aren’t necessarily a sure thing, so items that increase self-reliance will become very popular. Expect to see more homes with sources of energy like solar panels, sources of heat like fireplaces and stoves and even urban and indoor gardens that allow you to grow your own produce.

Outdoor living. Between playgrounds closing and parks becoming overcrowded, many of us are turning to our balconies, patios and backyards for fresh air and nature. This means we’re going to be investing more in our outdoor spaces, with functional kitchens, soothing water features, cozy firepits and high-quality outdoor furniture to create a much-needed escape.

Healthier spaces. Thanks to spending more time indoors and reprioritizing our health, we’ll turn to design to help ensure our homes are safe and healthy for our families. We’ll see a rise in products like water filtration systems as well as materials that improve indoor air quality. For new homes and additions, alternatives to wood-framing like insulated concrete forms from Nudura, which offer improved ventilation for healthier indoor air quality and an environment that’s less susceptible to mould, will be key.

Home office space. Business experts are suggesting many companies will see that working from home is not only possible but offers tangible benefits, like saving money on office space rent. With working from home on the rise, creating a home office space that inspires productivity will be a major project many of us tackle. Luxury home office furniture that feels chic and blends into your décor as well as ergonomic chairs and desks will see a major boost.

Custom and quality. With the hit to the economy, people are going to be buying less, but what they do buy will be better quality, while at the same time making an effort to support Canadian businesses. When it comes to design, trends will shift to locally made furniture, custom-built homes and pieces and materials that stand the test of time.

Find more information at nudura.com.