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.

Before you start hunting for a new Edmonton home, it’s a good idea to research the different types of homes available and figure out which might be the best match for you and your lifestyle. Homes range in types from a single family detached house to a condominium: knowing the different between kinds of homes — and the pros and cons of each — will help get your search for Edmonton real estate off on the right foot.

Single Family Detached House

A single family detached house is a free-standing home which sits on its own lot and is occupied by only one family. This style of home offers the most privacy and are the most common kinds of homes found in Edmonton. All property maintenance falls on the shoulders of the home owner: when you purchase a single family detached house, you purchase both the buildings and the land they’re on. These homes typically have the highest price per square foot except for certain luxury high-rise condominiums.

Semi-Detached or Duplex Homes

These are single family homes that are joined to one another by a common wall. Duplexes come in a wide variety of different styles from bungalows to two-story homes. Typically sharing either a front yard or driveway (sometimes divided by a walk or short fence), these homes usually have divided fenced back yards. Duplexes make great starter homes and usually come with lower price tags than detached houses, but the trade off is a little less privacy and some shared space that may require sharing maintenance with your neighbour, including shovelling driveways and mowing lawns.

Townhouse or Row House

A townhouse is one of several single family homes joined by common walls, much like duplexes, except usually there are more than two homes linked together. Townhouses have other homes on either side — except of course for the ones on the end of the row. Townhouses are usually smaller than duplexes and typically offer the smallest yards. Because there is more shared or “common” space, townhouse complexes are usually maintained by a Homeowners Association that takes care of exterior maintenance like mowing lawns and clearing snow. These are great options for people who don’t mind reduced privacy and low-maintenance homes.

Condominium

These multi-storey residential buildings contain multiple units, ranging in size from a dozen homes to potentially over a hundred. They can be walkup buildings of three or five storeys, or highrise buildings with 30 or 40 floors. Most of your walls — and your floor and ceiling — are shared. Building maintenance is covered by condo fees, but the interior of your space is yours to customize including types of floors, colours of paint, kinds of cabinets, etc. Sometimes there are shared amenities available such as pools, gyms or meeting spaces.

Mobile Home

A mobile home is a factory-built, single family residence that is built off site in a manufacturing facility then transported to a location and set on a foundation. These homes are typically found in designated  parks or communities with other similar homes, and while they carry the lowest price tag they also have the lowest resale value. These kinds of homes are frequently found on recreational or lakefront properties.

The Paranych Team is excited to announce a new mobile-optimized version of www.paranych.com that lets you easily search for Edmonton Real Estate on the go, from anywhere!

This completely free version of our website is immediately available on all the most popular smartphones including iPhones, Blackberry and Android phones. Just visit www.paranych.com from your mobile browser and you’ll be instantly taken to the phone-friendly site, streamlined to be fast and easy to use on the small screen.

The best part about our mobile site is the new GPS MLS® System Listings Search. This new search tool is only available on your mobile phone and uses your GPS coordinates to find Edmonton homes for sale near your location. You can also use search filters to narrow down your search to only homes that fit your criteria, including price, square footage and number of bedrooms or bathrooms.

Edmonton GPS Listings Search is a fantastic new way to explore Edmonton Real Estate for sale in your area. Take your phone with you for a drive by or walk the streets of the neighbourhood yourself. If the location of your new home is critical, there’s no better way to get a feel for the area than using our GPS search.

There are two additional searching options for home buyers on our mobile site: browsing for listings by Edmonton community, or by entering a specific MLS® System number.

No matter which way you decide to search, you can still access additional details and pictures connected to each listing easily. And once you’ve found a listing that captures your interest, you can bookmark it with a star icon to come back to later.

Try out the Paranych Team Edmonton Real Estate Mobile Website from your smartphone today: we’re sure you’ll love it as much as we do.

It happens to every parent eventually: children grow up and move out on their own, leaving parents with an empty nest and extra space. If you’re considering downsizing now that your children are out on their own, remember that you don’t have to make your mind up immediately. Always investigate all your options, from condos to walk-ups and even houses with smaller footprints. Don’t rush to put an offer on the first thing you see: you’ve invested 20, 25 or even 30 years into your current home, so take the time to transition to a place you’ll love just as much.

The Terry Paranych Team would like to wish everyone a wonderful holiday season. We wish you luck in the new year and the next decade, and look forward to another successful year of helping our amazing clients buy and sell Edmonton real estate.

Prospective Edmonton home buyers continuing to hunt for a new home over the holidays still have access to up-to-date Edmonton listings, and should check out our recent blog post about buying homes at Christmas for seasonal house hunting tips.

Happy Holidays, and we’ll see you in the New Year!

With only a few weeks until Christmas, the holiday season is officially upon us with all its excitement. People are at their busiest during the holidays, with hectic personal, social and business schedules that don’t allow much time for anything else. And we all know how the Christmas season can put a strain on the budget, whether from gift-giving, baking or holiday entertainment expenses.

So what if you’re in the market for a new home? Should you start looking during the Christmas season or postpone the house hunt until the new year?

If you can fit house shopping into your busy holiday schedule, Christmas can be the best time to buy a house. Real estate prices are at their yearly low in December: most buyers turn their attention to seasonal duties and abandon their house hunt, so the buying market dries up and drives prices down.

But for those with the time and determination to continue looking for a home during December, the possibility of property bargains are at a yearly high. Since most buyers disappear, sellers determined to sell who keep their homes on the market over the holidays tend to be more negotiable.

Things for buyers keen to keep shopping for Edmonton real estate over Christmas to consider:

• People — including sellers — are in high spirits during the holidays. Good moods during Christmas often means good deals: sellers are feeling generous and much more inclined to negotiate than they might at other times of the year.
• Home prices are at their 12 month lows during Christmas: the perfect opportunity for the buyer on a strict budget looking for a good deal.
• There are fewer serious buyers house hunting this time of year so there’s little to no competition on even the most attractive homes. The chances of the home you like getting multiple offers is much lower.
• Sellers who keep their homes on the market over Christmas tend to be very serious about selling and likely to put fewer restrictions or conditions on the sale.
• The holidays are a great time for buyers to revisit listings where stubborn sellers wouldn’t negotiate a particular price. During the holiday season these sellers are often more willing to consider lower offers just for the peace of mind selling their home before Christmas.

It’s important to also keep in mind that scheduling viewings during December can be more difficult: buyers who are willing to be flexible with their time to accommodate festivities will garner goodwill and good deals.

Looking to buy during the Christmas Season, contact the Terry Paranych Team today to get started!