2015 is now upon us, and many of you are considering entering or re-entering the Edmonton real estate market this year. The new year will see quite a few changes in the legal, marketing, purchasing, and designing of real estate in Edmonton and area. Here are 5 real estate trends to look for in 2015:
Better Protection for Buyers of Condos For Sale in Edmonton
The Government of Alberta recently Amended the Condominium Act to better protect those who have bought this form of real estate. These changes include a focus on helping owners in new condo developments make decisions while the builder is still selling the new units. These changes also require condo boards to be more transparent and accountable with unit owners in their decision making process. Condo owners will able to better resolve disputes more effectively and be better protected.
Accessing Edmonton MLS Listings Online Becomes More Important
Real estate professionals continue to enhance its service to their clients by making more and more content available online. Online marketing through idx search engines of MLS listings help home buyers sort through the thousands of Edmonton homes for sale in a time efficient manner. This vital piece of marketing is being further enhanced by professional photos from dedicated real estate photographers and more concise tax and neighborhood information being provided.
Edmonton Infill Housing Changing the Shape of Mature Neighborhoods
Many home buyers are choosing to live closer to the downtown core in infill housing. This type of housing is where a home that is no longer habitable in an older area is knocked down and replaced with a new design. Infill housing programs and think tanks are becoming very important to the overall design to changing Edmonton's mature neighborhood overlay. The biggest struggle within this is keeping the charm of the original neighborhood while allowing for individual tastes in new homes being built.
Improved New Home Warranty Plans for New Homes
The Alberta government passed a new bill in 2014 stating that no new home construction permit can be started without a warranty first. These warranties have also been specified to include separate warranty periods for labor and materials, gas/plumbing/electrical systems, the building envelope (or waterproofing system), and the structural and foundation systems. These different warranties range in time from 1 to 10 years and more clearly spell out the requirements of the builder, insurer, and home owner.
Cool Colors and Crisp White Home Designs Back in Style
The past 10 years or so has seen a flooding of beiges, browns, and other warm colors flood almost every home that was put up for sale. That design has become tired, however, and designers are going back to combining cool color schemes such as greys and softer blues with the more familiar warm colors. Crisp white has also become much more popular, especially in smaller spaces and areas that receive sunlight. Variety in design is back!
Edmonton is no longer a small city - it is a bustling metropolis that is changing at a great rate. As such there are many more than 5 things that will be changing in the housing market. These are only a few of many trends coming into the Edmonton real estate market in 2015!