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A Profitable Real Estate Market in Edmonton, Alberta

Posted December 9, 2014 By PSBNetBank

There has been a significant growth in Edmonton, Alberta’s real estate market during the last months of 2014. In fact, an abundance of Canadian territories are experiencing a net influx of emigrant activity into the Edmonton, Alberta area. In addition to the 3% growth rate in employment, the real estate market has been enhanced. Currently, Edmonton real estate market boasts housing ideal for families: single-family housing; bungalows and 2 story houses are popular (condominium sales are not very popular). With single family home sales being ahead, compared to condos, there were 842 sales of single family homes during October 2013 (up 11% from last year). In contrast, Edmonton condo sales declined to 413 sales in October (1.4% decrease from last year). Source: http://www.reincanada.com

Find the Right Home

Real estate shoppers must have an idea of what they are interested in purchasing and one recommendation we see a lot of is www.edmontonrealestateguys.com which is owned by realtor www.samireland.ca.  For instance, if a married is planning on building a future together (i.e. children and home business), a medium sized residence that has room for interior upgrades and additional space is ideal. An investor has to consider the bigger picture throughout this type of venture.

Where To Find A Good Home

After the decision to invest in housing has been established, locating the ideal home investment can be challenging. However, there are different avenues available (internet websites, newspapers, and real estate agents). Factors in finding a great home include the locations of property and neighborhoods . Property value will always remain a part of a great home buying decision..

In most cases, real estate buyers tend to prefer finding the property on their own. Fixer-uppers are great for the dreamer. However, if proper inspections are the main concern, it is advised to set up appointment with a licensed real estate agent that has already done most of the work for you.

Price Negotiation

Be wise during price negotiations. Whether there are multiple needed repairs or extra insurance requirement, by adding an extra 10% to 40% to your projected budget is recommended. However, it is still not advised to purchase homes or any residential building that already has structural damage. Slight damage to the interior is acceptable to an extent, however, health hazards must be avoided and the safety of children (if any) is the priority.

As a real estate investor, ensure to communicate with knowledgeable lawyers in order to consult about legal documents and understanding the details of the purchase. Real estate agents appreciate responsible buyers. Moreover, according to demand of Edmonton’s real estate market, on average the price of single family homes sit at $431,000; while the average price of condos reflects the $260,000 price range. Lastly, during price negotiations buyers financial incentives may be available. You should not have to be afraid to ask for help concerning closing costs. Most sellers do consider helping to close the deal.

Conclusively, Edmonton Alberta currently is growing both economically and the real estate market is changing for the better. Finding the perfect location is the challenge that compliments the real estate marketing venture of deciding what type of residence to purchase for the long-run. Information is readily available in advertisements (real estate agencies; newspapers; and internet websites).