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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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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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Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.