Edmonton Real Estate Blog

Do You Need to Pay LMI?Some potential home buyers may only be concerned about how much their mortgage payments will be, without realizing some of the additional fees and payments that may be serve to inflate their monthly payments. Those who are looking to be approved for a home mortgage loan should be aware of LMI, and how a fraction of the monthly payment made include this recurring expense.

Understand more about LMI and where your monthly payments will go today.

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

What is LMI?

Lenders mortgage insurance, or LMI, is a type of insurance required from Canadian lenders when taking out a home mortgage loan. Any payments made go

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How to Purchase a New Construction HomeNew construction homes are the ultimate blank slates for homeowners and their families, but they're also a brave new world for buyers who are used to traditional home sales. Not only are the expectations different when it comes to a new home sale but the negotiation strategy will need to be adjusted as well. Learn more about the timelines, contracts, and research a home buyer has to do to avoid making mistakes.

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

Schedules and Delays

Even in an age of communication, it's not always easy to coordinate schedules or meet deadlines. A newly constructed home has multiple players involved that could delay the

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How Taxes on Vacation Homes WorkThe tax laws in Canada are going to put up a few hurdles for homeowners ready to sell their vacation or second home. From capital gains to depreciation, it's clear those with second homes bear a heavier burden than their primary homeowner counterparts. Before officially listing a Sherwood Park home, it helps to have any idea of what the taxes will be like before pulling the trigger.

For informational purposes only. Always consult with a financial advisor before proceeding with any real estate transaction.

Capital Gains of Second Homes

Capital gains or losses refer to the appreciation or depreciation of any given asset from the time it was purchased to the time it was sold. A home purchased for $50,000 and sold for $200,000 would have a

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Consider Ongoing Financial Commitment Before Buying Second HomeA second home or vacation retreat can be a wonderful idea as well as a smart financial decision. But the mortgage qualification guidelines can be more stringent than those for a primary residence. Here's what to know, some points to consider and things to think about before you begin the search for another property:

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

Financial Basics

Many good reasons exist for buying a second home in addition to the desire for a vacation getaway. It may be that a condo in another city could be used for business as well as pleasure, or a second home might be the perfect answer to housing for a college student or

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How to Decide Which Home Buying Contingencies to IncludeReal estate clauses will vary slightly for each sale, but there are certain ones that will pop up again and again. While many are obvious standards to protect buyers from purchasing a proverbial money pit, the specifics of each clause are not always universally understood by all buyers. See how the common stipulations work, so the negotiation process can go smoothly from start to finish.

Offer to Purchase

The Offer to Purchase is where buyers make their demands known to sellers. It's not a standard document in that each offer is structured to fit the particular home sale. If the buyer is purchasing a home during the height of a seller's market, they may offer to pay for the property in cash without any conditions. However, most buyers will

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Your Guide to Home WarrantiesOftentimes the first time homeowners review the intricate complexities of their home warranty coverage is when they discover a major problem, despite having the policy since they purchased the home. Unfortunately, because this happens more often than most people understand, it is imperative for homeowners to review their coverage fully. Warranties not only vary by the company issuing them but also by the province they're issued in. To avoid unnecessary confusion, find out more about how they work so there are fewer unpleasant surprises down the line.

Not Every Part of the Property Is Covered

Certain warranty companies will only cover the building envelope (or the physical components that separate the outside of the home from the interior.) So

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Steps You Can Take If You Have Foundation DamageThe foundation of a home may not seem very mobile, but it's far less static than most homeowners realize. Homes settle and adjust over time, which can put enough pressure on the foundation so that it cracks under the weight of the structure. Homeowners who understand the signs of foundation damage have a much better chance of catching it early (so they can save themselves the worst of the potential consequences).

Warning Signs of Foundation Damage

Homes with major foundational damage are easy to spot because they look like they're on the brink of collapse. The bulging and sagging will get to the point that it's visible from the outside. But before that day comes, homeowners will thankfully have a few more warning signs. Doors and windows won't

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When is a Roof Repai Suitable and When is Replacement the Best Option?There is a lot more to a home's roof that many may not realize. Trusses are covered by wood decking which is covered with an underlying membrane. There are valley flashings, chimney flashings, roof vents, drip edges, and more. When most people think about their roof, however, they generally only consider the roof surface, most often asphalt shingles.

This is the most visible portion of a roof that faces the brunt of the sun's heat, wind, rain, snow, and ice. Like most aspects of a home, repairs can become necessary due to age or damage that has occurred. How does a homeowner decide though, when a roof replacement is a better option to a repair? Here are the factors to consider.

Overall Age

A big factor to consider, when deciding whether a

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How to Create the Right Ambiance With the Right StagingNo matter how special a home is to the seller, a successful home sale always starts with seeing the home through the buyer's eyes. And the trends for Canadian buyers are clear—they're looking for practical touches over luxury when they start off on the buying process. The best way to offer home buyers the best view of any property is through good staging. Here are some effective methods to highlight a home's practical touches and biggest selling points.

Start Outside

Hedges, fences, yards, flower beds—buyers have a tendency to make their first impression carry them all the way through the rest of the showing. If the outside is a mess, it sends a strong message to the buyer that the seller is either willing to part with their home for

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Easy Landscaping Tips for Hearty Grass and PlantsBeautifully green grass and shrubs accented by lovely flowers and plants can make a yard truly stand out. While having hearty lawns and landscaping plants requires effort to maintain, these basic landscaping tips can help Beaumont homeowners boast a healthy and attractive yard year round.

Mowing Tips for Healthy Grass

First and foremost, avoid mowing when it's wet, as the lawn clippings that remain are heavy and can smother the grass. Break out the mower on dry days and mow the grass to an ideal level of 2.5 to 3 inches or 6 to 8 cm to help its root system get stronger and make the lawn thicker. Always mow with a sharp blade, which allows for easier recovering of the grass for owners who want to use some as compost for other plants. However,

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