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

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

(NC) Many of us have heard that fresh air is good for us, but what does that mean and why is it important?

Basically, fresh air is when the particles of air around you are regularly replaced; it’s the movement of air. Outside, this happens naturally when air is moved by a breeze. Inside, you need good ventilation to improve air quality, by letting fresh air in and preventing stale air from being trapped inside with you.

Respiratory viruses may be transmitted from person to person through the air by small respiratory particles called aerosols. For example, when someone who has COVID-19 breathes, talks, sings, shouts, sneezes or coughs, they can release respiratory particles with the virus into the air and spread it to others. The smaller and more crowded the room, and the longer that others stay in the space, the higher the risk that COVID-19 may spread. Good ventilation helps to reduce the levels of potentially infectious particles in the air, by letting fresh air in, which is especially important when you're with people from outside your immediate household.

Some easy tips to help you improve the ventilation in your home:

• Open windows and doors whenever possible. Even if it’s cold outside, a few minutes of fresh outdoor air can still help.

• Run a kitchen or bathroom exhaust fan continuously at low speed and open a window - even if it’s in a different room - to provide replacement air.

• Consider using an air purifier with a high-efficiency particle filter (known as a HEPA filter), that’s sized for the room.

• Regularly clean or replace filters in your heating, ventilation and air conditioning (HVAC) system.

These steps are especially helpful before, during and after having guests in your home. Combine ventilation with other important public health measures, such as keeping up with vaccinations, hand washing, wearing masks in crowded indoor spaces and staying home when sick to help keep you and others protected against respiratory viruses, like COVID-19 and the flu.

Find more information at canada.ca/coronavirus.

(NC) Downsizing for retirement can relieve stress and help you focus on what is truly important. Whether you feel ready for the change or you’re a little nervous to plant roots somewhere new, here are some tips for a smooth and easy transition.

Start decluttering now
Even if you don’t plan to move for some time, it’s worth cutting down on your clutter. Begin thinking about items you really want to keep forever, such as your mother’s china. If those antique dishes mean a lot to you, keep them for your next place and plan to actually use them. If they are just taking up space, recognize that and don’t feel bad about finding them a new home. Beginning to tackle this step now will save you last minute stress and guilt when it comes time to move.

Consider your lifestyle
Are you looking to leave behind the hustle and bustle of city life? Or, are you excited by the option of walking to nearby shops and activities in an area where you don’t have to rely on a car? Will your new pad be the home base for a rotation of visiting family or are you planning to live the more nomadic life of the frequent traveller? Consider your physical, social, and personal needs as you think about how and where to live in retirement.

Use all tools available 
There are many options and considerations when creating a retirement plan, so use all the resources available to help you make an informed decision for your golden years. For example, you can use free census data to learn about a potential new community before moving there. You can find useful details on population, age and types of dwellings in different places. Specifically, you’ll be able to see if there is a higher concentration of seniors or lots of young children, along with the type of housing in your target area. It’s a great way to learn more about a place before you move there.

Find more information at statcan.gc.ca/census.

(NC) There’s nothing like a warm fire on a cold day to nurture your soul. But despite its cozy scent, wood smoke contains pollutants that can be harmful, including chemicals and fine particles. Fine particles can penetrate deep into your lungs and bloodstream, sometimes leading to serious health effects or even death.
If you use a wood stove or fireplace in your home, here are some steps you can take to reduce your health risks:

Maintain your stove

• Make sure that your wood stove is well-maintained, vented correctly and working properly.

• Have it inspected by a qualified professional at least once a year.

Clean your chimney

• Clean your chimney and flues regularly, following the manufacturer's instructions.

Use your dampers

• Allow more airflow (ventilation) when starting a fire and close the dampers when the wood is well charred. This technique produces more heat, so you use less wood.

Burn wisely

• Avoid burning wood on days when outdoor air pollution levels are high.

• Only burn dry, seasoned wood. Cut, split and stack wood in a dry area for at least six months before burning it.

• Never burn wood that has been painted or chemically treated; household garbage or cardboard; ocean driftwood, plywood, particle board or any wood with glue on or in it; or wet, rotted, diseased or mouldy wood.

If you are looking to upgrade or install a woodstove or fireplace:

• Choose a low-emission stove
  Install an "advanced combustion" wood stove or fireplace insert to reduce toxic emissions.

• Look for appliances that have a sticker from the United States Environmental Protection Agency. This sticker certifies that the appliance emits up to 95 per cent fewer particulates and is up to 20 per cent more fuel-efficient than regular models.

Find more information on keeping a healthy home at canada.ca/healthy-home.

(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.

(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) 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.

(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.

(NC) An estimated three million Canadians have one, and they have emerged as the single largest contributor to the growth of household debt in Canada.

Yet many consumers do not appear to fully understand how they work.

No, we’re not talking about credit cards or car loans. We’re talking about home equity lines of credit or HELOCs.

According to a 2019 survey by the Financial Consumer Agency of Canada, many people appear to lack awareness of the terms and conditions of this widely sold financial product, exposing them to the risk of over-borrowing, carrying debt for extended periods and uninformed decision-making.

HELOCs are a secured form of revolving credit. The lender uses your home as a guarantee that you'll pay back the money you borrow. And, as you pay your HELOC down, you can borrow it again, up to a maximum credit limit.

Most major financial institutions offer them with a mortgage as a combined product, which is sometimes called a readvanceable mortgage. Many use them for renovations, debt consolidation, vehicle purchases and day-to-day expenses.

When used responsibly, HELOCs can benefit consumers through low interest rates, convenient access to funds and flexible repayment terms.

Unfortunately, the convenient features of HELOCs can encourage consumers to add too much to their debt load.

In fact, 27 per cent of those who responded to FCAC’s survey said they make mainly interest-only payments on their HELOCs. Considering that, on average, Canadians owe about $65,000 on their HELOCs, this means many homeowners end up carrying debt for long periods.

So, if you have a home equity line of credit or are considering getting one, you need to ask yourself:

• Would a HELOC tempt you to use your home like an ATM?

• Could you still afford HELOC payments if you lose your job or interest rates go up?

• Are you prepared to stick to a plan to pay it off fully, and avoid continually borrowing against your home equity?

Those are just some of the questions to consider before borrowing money that will be secured by your home equity.

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.

(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.