When shopping for Edmonton Real Estate, spending a few hundred dollars on a professional home inspector is the best investment you’ll ever make. A professional inspector brings experience in examining a great many homes, good evaluation standards and an unbiased perspective. And a written home inspection report can be an excellent negotiating tool.

A Typical Home Inspection Looks At:

• Foundation (slab, crawlspace, basement, etc.)
• Electrical, heating and plumbing systems
• Floors, walls and ceilings
• Attic
• Roof
• Siding and trim
• Porches, patios and decks
• Garage
• Property drainage

Make sure you accompany your Edmonton home inspector on the tour. You’ll learn a lot about the home you’re thinking of buying.

Once you have your evaluation, the decision to proceed is yours. A home inspector only gives you a professional opinion of the home’s condition, not advice as to whether or not you should buy.

“The local real estate market is looking up according to the current statistics released by the REALTORS® Association of Edmonton. The average residential sales price is up, the price of a single family detached home or a condo is up, number of sales is up and inventory is up over the previous month.”

Overall, the numbers show that the Edmonton Real Estate market is doing great! The Terry Paranych Team were busy during the month of May. We launched a new website/brand ParanychLuxuryHomes.com, purchased additional investment properties for Paranych Rentals and continued to exceed our client’s real estate expectations.

Ready to buy or sell in the Edmonton Real Estate Market – Contact the Terry Paranych Team today!

The Paranych Team is excited to announce the launch of ParanychLuxuryHomes.com, a website dedicated to the Edmonton Luxury Real Estate market. Featuring only high-end Edmonton and area properties, the Paranych Luxury Homes website will be the premier home of Edmonton Executive Properties on the Internet. Browse the exceptional upscale properties for sale in our Top Ten lists, read our Trends blog, or learn more about our Luxury Home Marketing System and International Real Estate services.

Do you need to relocate away from the Edmonton area? Did you know that the Terry Paranych Team is well connected with top producers accross the world? Let us assist you with finding the right agent for your real estate move.

A good Edmonton Realtor brings to the table an in-depth knowledge of the current housing inventory in their area, and continually updates that knowledge by touring homes as they are placed on the market.

This works to your advantage. Trying to personally see every available home that might fit your needs would be a overwhelming process, if not an impossible one! If you are thorough in communicating your needs and what you can realistically afford, then your agent can help you narrow down the list of prospective homes to those that best suit your needs. This will save you much time and energy.

When the time comes to settle on one home, you can do it with confidence that you’ve made a well-informed choice.

The desirability and resale value of your home-to-be depends on location more than any other single factor. Again, don’t let emotion get in the way of a wise investment. No home is an island, and the value of yours is affected by the homes that surround it.

Assuming you’ve already considered the elements that make up a desirable community — character, quality of schools, access to places and services, recreational facilities, etc. — there are several elements that combine to create a good location.

Your first consideration is always the neighbourhood. Every neighbourhood has its own unique character: you need to make sure you’d be comfortable in the one you’re thinking of living in. Take a long walk and observe carefully. Do people take care of their yards and homes? Are the yards fenced? Do children play in the streets? Talk to the neighbours and ask questions that give you a better feel for the area. Always remember to be careful not to appear judgemental: you could be talking to a future neighbour!

If the neighbourhood is to your satisfaction, look at homes on the market in the area. Extremely large homes surrounded by smaller ones tend to appreciate less than a larger home surrounded by other large homes. Conversely, the smallest home in the neighbourhood tends to be “pulled up” by the other homes on the block.

The outer edge of a neighbourhood is usually not good for resale value. There are noticeable dividing lines between unlike neighbourhoods. It could be a difference in architectural styles, home size, property use or something else. Look for a home in the middle of a community of similar homes; it will hold its value better.

An exception to this rule is a house on the edge of a neighbourhood bounded by woods, park land, a golf course or other open space. Natural boundaries appeal to buyers, and these “edge” homes can actually command a better price. Of course, the exception to this exception is when there’s an unpleasant use planned for the open space: a field with a babbling brook is nice, a new freeway or factory isn’t.

Other things that can negatively affect property values are traffic, sounds and smells. Be sure to give the entire neighbourhood a long, hard look. The home you’re interested in may be perfect, but if the neighbourhood has problems, you’re investment won’t be worth as much when the time comes to sell.

Once you have a clear, detailed picture of the home you want, make sure your Edmonton REALTOR® has the same picture. This communication is critical. Otherwise you’ll both waste your time looking at homes you’re really not interested in.

Always make sure your Edmonton Realtor® knows your priorities. Your shared goal is to find a home that meets all of your needs; after making sure your needs are met, a good real estate agent will then try to satisfy as many of your desires as possible.

A good Realtor will ask you several questions about what you’re looking for and what you can reasonably afford, and then — most importantly — listen carefully to your answers.

Getting a loan pre-approval is the smart way to shop for a home. A pre-approved mortgage tells sellers you’re a serious prospect, and you know in advance the maximum mortgage you can afford. Make sure you get a commitment in writing. I’ve seen many buyers make the mistake of learning what they qualify for but not getting that pre-approval in writing.

The good news is it’s easier than ever to qualify for an Edmonton home loan. Lenders have modify qualification rules and created programs to help people even if they have problems with their credit or employment histories. Many programs call for dramatically reduced down-payments — by far the biggest obstacle for first-time home buyers in particular.

Before you begin shopping for Edmonton Real Estate, understand there are two homes out there vying for your interest: the one that meets your needs and the one that fulfills your desires. In a perfect world you’d find a home that satisfies both your needs and wants. Since it isn’t a perfect world, you’re going to find yourself confronted with choices.

Do you choose the three-bedroom home with room for your family to grow, or the one with the big backyard and deck that’s perfect for entertaining? Is having a big kitchen more important to you than a few extra rooms?

The reality is you’re going to find homes you fall in love with for different reasons. That’s why you should list the features you want before you start shopping. Break down your list into two categories — “Needs” and “Desires” — and prioritize every item on the list.

Understanding what you really need as opposed to what you’d like to have will help you keep your priorities straight as you hunt for a new home. We’ve seen people fall in love with a home for the wrong reasons, then regret their purchase when the home fails to meet their needs.

Don’t let emotion cloud your judgement. Satisfy your needs first. If you find a home that meets all your needs and also fulfills some of your desires, so much the better. The important thing is to know the difference before you get caught up in the excitement of the hunt.