Edmonton Home Buyers Guide
Congratulations !!! Whether this is your first home or your tenth home, this guide is intended to help you navigate the Edmonton home buying process. We developed this to help inform our Buyers of the home buying process. These are the steps that will make you an educated Buyer and will empower you to be comfortable making decisions about the home you are going to purchase. And we are to help through each step!
8 Reasons Why Home Ownership is Important
- Quality of Life - Home ownership is part of a better quality of life for most buyers. The quality of our living situation directly impacts how we feel.
- Spend Money to Make Money - With the right Real Estate Consultant, homeownership and the potential for appreciation mean that ultimately you have the opportunity to get a great return on your investment.
- Principal Accumulation - As a homeowner, a portion of each amortized mortgage payment typically goes to principal, which is in the long term your protected investment.
- It's the Canadian Dream - Owning a home is The Canadian Dream. We work with so many first time home buyers, and it truly is a dream come true for most of them.
- Independence - For many homeowners, one of the greatest freedoms is acquired through home ownership. They can get rid of their landlord and are no longer surrounded by neighbours in an apartment with the walls. The freedom to do whatever they wish with their homes is a big incentive for many new homeowners.
- Leverage - At current Interest Rates, you can put your money to work somewhere else. These days you can still purchase a home with as little as 5% down as the down payment.
- Why Rent when you can Own? - The real cost of Renting at $1000 per month with a 5 % rental increase per year means you will pay $150,932 over 10 years of renting. Just think of how much of a home you could have paid off in that amount of time.
- Because you get to work with a professional REALTOR® who will work incredibly hard and protect your interests!
Home Buying Process - 10 Steps
- Get Pre-Qualified with a Mortgage Broker or Bank / Lender
- Find a REALTOR® who is Right for YOU!
- Get Exclusive Market Data ( Neighbourhood Specific Sold data)
- Book Showings with your REALTOR®
- Make an Educated OFFER
- Prepare for a Counter Offer & Negotiations
- Finalize the Contract / Final Signing ( PENDING DEAL )
- Satisfy Conditions and Waivers ( Home Inspections, Financing, etc. )
- Prepare for possession day!
- Closing Day - Final Walk Thru
In addition to these 10 Steps of Buying a Home, you should consider ADDITIONAL CLOSING COSTS