Edmonton Real Estate Blog - buying

Unlock Your Dream Home: How to Buy Smart and Affordably

When searching for a home to purchase, it's important to keep in mind the practical considerations of budget and financial responsibilities. It can be easy to get caught up in the excitement of the search and lose sight of these important factors. Overspending on a house can have serious consequences, such as difficulty making mortgage payments or covering household expenses. To avoid this, here are some helpful tips to keep in mind.

Know What You Want Before You Start Looking

Create a very specific list of requirements for your new house. Figure out which items are essentials and which are not. Be ready to accept the fact that a house in your budget may not have all of the things that you want. You may have to choose between your needs and some…

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The ABC's of Buying a Home: Part 2

There is a lot of information to digest when buying a home. All of the real estate jargon can get overwhelming. We discussed the vocabulary of buying a house back in January, so here are some more terms and definitions of real estate to help you better understand the process.

Annual Percentage Rate (APR): The rate of interest on your mortgage. It can be at a fixed or variable rate depending on the terms of your mortgage.

Blended Payment: A payment combining principal and interest with the long term effect being a decrease in interest but an increase in principal.

Closed Mortgage: A mortgage type which doesn't allow you to pay it off in full before the agreed upon length without imposing penalty fees.

Depreciation: In real estate…

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Four Things You Should Know Before You Buy a House

For many people, living the dream involves financial security and owning your own home. Owning a home is widely perceived as an investment that leads to long-term stability and security. Although this step is often recommended by financial experts, there are a few things to know before you find your dream home to avoid common mishaps and complications.

Know How Long You'll Live at the Residence

You may have the savings, salary, and credit to purchase a home, but it doesn't necessarily mean that it's a wise purchase if you aren't looking to stay at the property long-term. You should only begin shopping around for a home if you plan to own it for several years without moving again. If you have a job that may relocate you or obligations that…

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The ABC’s of Buying a Home

Buying a new home can be an overwhelming process if you're not familiar with it. During the process of choosing a home, applying for a mortgage and more, you may encounter terms and phrases that you are unfamiliar with. Having a better understanding of the ABCs of home buying will help you feel more confident about the process.

Amortization: A mortgage term that describes the period of time that is required to pay off the original loan balance. 

Appraisal: A statement that indicates the official value of a property.

Bridge Loan: A short-term interim loan that is made to a buyer to purchase a new home before they have sold their current home and can use the equity towards the new purchase.

Builder: A company or a private individual who is…

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How to Buy and Sell a House at the Same Time

The real estate market is generally flourishing in the Edmonton area, which means many people are interested in selling their homes. However, when you sell your home, you have to find a new one. If you're looking to sell your home and buy a new one at the same time, you will no doubt face some challenges. A few helpful tips can aid you so both transactions turn out successful.

Expect the Stress

It is a no-brainer that both selling and buying a home are stressful situations. Therefore, you should go into the situation expecting to feel stressed. Doing one of these activities is stressful enough, so you should realize that doing both at the same time will double the feelings of anxiety you may experience. You will certainly have a few nights where…

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