Edmonton Real Estate Blog

Edmonton Economy Guide

The city of Edmonton, the capital of Alberta, has more than 930,000 residents. Situated along the North Saskatchewan River, it's the second-largest community in Alberta after Calgary. The metro area has an estimated population of 1.3 million, making it one of the most populated regions in Canada.

There's an incredible number of things to do in Edmonton, including shopping at the largest mall in North America, visiting the largest living history museum in the country, and enjoying the celebrations of Canada's Festival City. The city boasts millions of visitors each year, and many of them decide to move to Edmonton. However, before such a relocation, potential residents should consider Edmonton's economic background. After all, even the best of

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Things to Do in Edmonton

Edmonton is one of the entertainment capitals of the world. Lovingly called the Gateway to the North, this massive city is home to a range of activities that keep locals and tourists alike entertained throughout the year. Even with Candian winters, the activities in the Edmonton community manage to provide fun and excitement for all ages. It's no wonder that individuals from all over the world consider moving into Edmonton's new construction homes and lake houses to explore all the sights and sounds of this marvellous city. Read on to discover some of the many fun things to do in Edmonton.

Edmonton Outdoor Adventures

Several outdoor activities are available in every season. Whether one enjoys a simple stroll through a park or more exciting and

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Edmonton Cost of Living Guide

As the second-largest city in Alberta, the Edmonton community is a fast-growing star. The 2019 municipal census indicated a population of 972,223, a growth of almost 40,000 since the 2016 count. The city displays a strong economy and plenty of opportunities for new residents. Most importantly, the cost of living is generally much lower than in other areas of Canada, which may explain why nearly 3/4 of the regional population prefers to live inside the city itself.

In a cost of living ranking of North American cities, using a baseline index of 100, Edmonton places 33rd with an index of 149. That places the community on par with Dallas, TX, and Atlanta, GA. In contrast, Calgary, Canada, places 27th with an index of 153. On the other side of the scale,

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Edmonton Best Neighbourhoods

Residents living in Edmonton have many opportunities when it comes to experiencing popular restaurants, shopping, nightlife, and attractions, as well as exploring the hidden gems the city has to offer. Those planning to relocate to Edmonton should be prepared for numerous destinations designed to enrich, educate, and fascinate. Along with various things to do, Edmonton neighbourhoods offer residents and potential residents several choices in types of residences, business opportunities, quality schools, and convenience in modes of transportation when navigating around town. Anyone house-hunting in Edmonton should read on and keep the following communities in mind, as they're some of Edmonton's most popular neighbourhoods.

Downtown

Downtown

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Moving to Edmonton, AB Living Guide

Living in Edmonton, AB

As the capital of the province of Alberta, Edmonton is naturally a centre of commerce and culture in the area. Also known as Canada's Festival City, the community was founded in 1795. It was later incorporated as a city in 1904 and named for Edmonton, London. As of 2016, the city's population was 932,546. However, only a few years later, the municipal census of 2019 noted that 972,223 residents called the locale home.

Outside the city proper, the metro area has a bit over 1.3 million residents, meaning that nearly 74% of the area residents choose to live within the specific Edmonton jurisdiction. The combination of steady growth and the focus on the central city often means a strong economy and pleasant living conditions.

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4 Commute-Related Questions to Consider Before Making an Offer on a HouseHome buyers may look at many attributes in a home before putting in a bid. Common things they look at include upgrades in the kitchen or bathroom, number of bedrooms, presence of smart technology, useable yard space, and green features. One thing that's sometimes overlooked is commute time—but overlooking this is a big mistake.

Many new homeowners are shocked to learn how long it takes to commute because of high traffic volumes or lack of proximity to major roadways. Commute times matter. Here are four questions to consider before making a seller an offer.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

How Long Will the Commute Take?

Perhaps the

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Do I qualify for the residental capital gains tax exemption?Home prices tend to rise over time, so when you sell a home you've owned for a while, you may turn a profit. You have a capital gain. In Canada, taxes must be paid on most capital gains.

However, there's an exception available to most Canadian homeowners called the Principal Residence Exemption (PRE). It says that homeowners don't have to pay capital gains tax on a home that has been their principal residence. Most people who've lived in their homes are eligible for PRE, but there are still conditions homeowners must meet.

If the home was not the owner's principal residence the whole time, the owner might have to pay part or all of the capital gains tax. If it was a money-making property, the owner has some tax to pay. Even if a homeowner is

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What is the timeline of the Canadian mortgage process?For a first-time home buyer, the Canadian mortgage process can be daunting. You may have heard terms such a pre-qualify, pre-approve and condition of finance. You may wonder how these apply to you and your home purchase. However, if you break the mortgage process down into its steps, it becomes more understandable and less intimidating.

For informational purposes only. Always consult with a licensed mortgage or home loan professional before proceeding with any real estate transaction.

Can I Afford a Mortgage?

The first step is to sit down and decide if you can afford a mortgage and, if so, for how much. As a rule of thumb, you can pay up to 32% of your income for housing costs and up to 40% for all your debts, including other loans. You also

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What is a Debt-to-Income Ratio and How Does it Affect Me?When it comes to buying a West Edmonton home, hopeful owners are often asked to step outside their comfort zone. Maybe they're forced to look in different neighborhoods than they would have originally considered or to settle for a home with a smaller kitchen than they wanted. Beyond these compromises though, there are also complications that will affect the buyer's finances. Learn more about the debt-to-income (DTI) ratio and how lenders use it to decide on potential candidates.

For informational purposes only. Always consult with an attorney, tax, or financial advisor before proceeding with any real estate transaction.

One Number of Many

Buyers are understandably confused when it comes to how lenders assess them. If everyone's focused on the

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Construction of Home Additions: What Owners Must Know FirstConstructing a Central Edmonton home addition is an ideal way to increase the square footage of an existing home for more storage or livable space. Home additions approached wisely can also increase property values, but failure to think things through from start to finish could result in a costly mess. Check out these tips for a streamlined project.

Hire Professional Contractors for Home Additions

Even homeowners who are master carpenters themselves should consider getting the assistance of designers, architects and professional contractors on board right away. There are just too many aspects of such projects for a complete DIY such as permitting, utility access, and ensuring the primary structure is suited for a home addition. Save time, money

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