Is there such a thing as the best way for home buyers save a down payment? Well, in my opinion, yes there is. But what is it?

Home Down Payment

Most home buyers  believe that a minimum down payment of 5% is the normal requirement needed for the purchase of most properties. Although this may be the case for the majority of home purchases, it is not always the case. One the one end of the spectrum, all investment properties in Canada require a minimum 20% down payment(As of late 2010). There are also similar guidelines should you want to purchase a recreation property.

At the other end of the spectrum are options that would require much less than 5% in hand for a down payment. Here are a few of those options:

  • RRSP Use for down payment - You may use any RRSP…

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Knowing the role the deposit cheque plays in home buying includes where that money goes, where it comes from, what is applied towards, and rules surrounding it. The most frequent question I get from new home buyers regarding the deposit is "Is it an extra cost on top of the purchase price?". The quick answer to this is no. So how exactly does the deposit cheque in real estate work?

The deposit cheque forms part of the offer and is placed immediately in seller's brokerages' trust account once final acceptance occurs. It shows the home seller that the home buyer is serious about buying the home and fulfilling the terms of the agreement. Many real estate brokerages will require that the deposit cheque be certified if there is less than a 30 day period…

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One of the biggest differences in the real estate business over the past 15 to 20 years is how home buyer offer presentations have changed. Back then the majority of the process was face to face. I would meet my buyers and fill out the paperwork and then contact the seller's Realtor. I would then have a meeting with the sellers and their Realtor. I would make a full presentation regarding my buyers, the home, and the offer. If there was a multiple offer situation, or if my buyers were in a time crunch, it was not unheard of for the buyers to wait outside the property in my vehicle while I presented the offer to show their commitment to buying the home. I remember the first time I tried to fax an offer to a fellow Realtor. It was sometime in the late…

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Edmonton Highlands is consistently recognized as one of the best neighborhoods in Edmonton to live. Formed over 100 years ago, this thriving area has a great mix of new and older homes, as well as picturesque streetscapes and river valley views.There were 10 single family homes in Edmonton Highlands sold in the month of October. The specific sales are as follows:

 

ADDRESS                    PROPERTY  TYPE     LIST PRICE          SALE PRICE         DAYS

11252- 50 Street              Single Family Home        $299900                $285000                37

11308 - 66 Street             Single Family Home        $315900                $310000                49

11420 - 62 Street             Single Family Home        $349900               …

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There are numerous benefits to knowing how home showings work, and is a very easy procedure to learn. When you indicate to your Realtor that you are interested in viewing a property or series of properties, you should also have a day and time period in mind. It is also most efficient to keep your showings centered in a particular area of the city. Having showings all over the city is the number one time and energy waster in the home viewing process due to the increased traffic and driving time involved.

Once you give these details to your Realtor ®, they go ahead and contact the home seller's Realtor ® and make arrangements for the showings via phone, email or text. There is a secured keybox on site at the property that will be used to enter the…

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Knowing how to use the walkscore rating when buying a home can be an important tool for those with young families, those who use public transportation, or those who like to do business where they live. It is also becoming more and more important to people in Edmonton and other major cities across Canada as a function of 'living local'. Living local is simply the idea that in the day and age of large corporations and suburban spread, that it is possible to live happily by staying focused on living, working, and supporting business in a local community.Edmonton Walking

For those of you who take public transportation, there is also a similarly themed 'transit score' which shows you exactly how your city and neighborhood stack up. As expected, there are general trends…

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Understanding your lifestyle when buying a home  will help you feel more comfortable and confident in your eventual decision. What you are trying to figure out are your general preferences on how you usually spend your time, energy, and money. You should also take into account your likes and more importantly your dislikes. By doing this it will help you to select preferences as wide ranging as building type, ownership style, location, amenities, site influences around the home, and more.

Prioritizing what is more important to you is also an important aspect of this exercise. For example, you may enjoy the environment of a small town, but absolutely hate spending a lot of time in traffic. If you work downtown, these lifestyle preferences are contrasting…

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Edmonton Real Estate Statistics

The RAE (Realtors Association of Edmonton) have just released their October 2014 Edmonton real estate sales statistics to the public. October is often a transition month for Edmonton real estate sales. As the weather cools, traditionally the market cools as well as far as the number of home listed and sold. However, this past month was a fantastic month weather wise in the city of Edmonton; did the real estate market stay just as nice?

It appears that the Edmonton real estate market is still doing very well. Sales continue to be strong and the prices for home across all residential sectors have gone up over last year. Here are 5 interesting sales statistics in the Edmonton real estate market from October 2014:

  1. There have been almost $6.2…

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Finding the right Realtor™ to help you is a great first step in the home buying process. Establishing a relationship with a real estate professional you can trust will take a lot of doubts out of your mind when it comes down to their expertise during the important stages of parts of home buying such as property selection and negotiation.

 This is especially true if you are a first time home buyer or have not bought a home in some time. First time home buyers can get the education they need from their Realtor™ in the early stages of home buying and can ask as many questions as possible to help them feel confident. That's why there is almost never too early for first time home buyers to find a good Realtor™ and start the learning process.

Experienced …

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New records were set again as the Realtors Association of Edmonton released the Edmonton Home Selling statistics for September 2014. The RAE is the local authority and regulating body for real estate in Edmonton and area and produces a monthly statistical snapshot to help the public keep informed with what is going on in the Edmonton real estate market.

September 2014 turned out to be another strong month for both overall sales and average sales. Did you know that last month alone over $421 million in Edmonton and area real estate was sold? This is truly an astounding amount, and an increase of over 14%. And this amount is for single family home sales only!

The average Edmonton home sale also rose in September.  Single family homes were sold on…

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