5 Tips You Need to Know Before Buying a Home in Edmonton
Posted in: Commercial,Residential
On July 18, 2023

Edmonton is one of the best cities in the world to live, work, and raise a family. It boasts a great quality of life, a top healthcare system, an incredible school system, low taxes, and a high average household income with a much more affordable cost of living than many other Canadian cities. The combination makes Edmonton one of the most appealing cities in the country to buy a home.

As you start your search for a house for sale in Edmonton, keep these five tips in mind to make the home buying process as straightforward as possible.

1. Understand the Full Costs of Closing

While you may be pre-approved for a mortgage and have a budget for how much house you can buy, you should also consider the full cost of closing. Closing costs include things like inspection fees, legal fees.

Buying a Home in Edmonton

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In addition to all of those closing costs, keep in mind that property taxes are typically paid in advance, not for the past. If the previous owner pays the full property tax on the June 30 due date shortly before you purchase the home, you may be expected to compensate them.

2. Get Ready to Read All the Listings

There’s a limit to how many viewings you’re going to be able to realistically do. At some point, all the houses are going to look the same.

But before you step inside a house for sale, you have the listings. Search as widely and thoroughly as possible. It will give you a sense of how much you can get within your budget and how you can balance size, location, and other features. Sometimes you have to sacrifice size for a great location.

3. Let Viewings Guide Your Choice

Buying a Home in Edmonton

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As you start to view houses, your wants and expectations may change. Some features that topped your wish list may not matter as much anymore once you see them, or what you have to give up to get them, and other features may become a lot more important. Don’t be afraid to let your preferences change as you start to see houses up close and in person.

4. Don’t Sweat Small Changes

When you start going to viewings, try not to let little things get in the way of the bigger picture. Sometimes homebuyers will fixate on little things, like paint colour, flooring, or decorative elements that are easy to change. Remember, this is going to be your home. You can change all of those things.

It’s the size, location, and layout of the house that you can’t change after the fact. Try to focus on those things that you’re going to have to live with.

5. The Inspection May Surprise You – Be Prepared

Buying a Home in Edmonton

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The home inspection is meant to reveal issues with the property that may not have been visible at the viewing. If you’re surprised when the inspection turns something up, it’s doing what it’s meant to.

Take what you learn from the inspection into consideration. Talk it out, and see if you can get quotes for how much it will cost to fix certain major issues.

Keep in mind that most sellers won’t renegotiate on small issues after the inspection, but you may be able to get a discount for major challenges.

Edmonton is a great place to buy a home. These tips will help make the process go smoothly!

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