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        <title>Edmonton Real Estate Blog</title>
        <link>https://www.edmontonhomes.ca/blog/home-selling-blogs-edmonton/</link>
        <description>Welcome to the Edmonton Real Estate Blog - We will keep you up to date on the Edmonton Real Estate market with the most current news and market trends.</description>
<item>
    <guid>https://www.edmontonhomes.ca/blog/affordable-front-yard-curb-appeal-improvements.html</guid>
    <link>https://www.edmontonhomes.ca/blog/affordable-front-yard-curb-appeal-improvements.html</link>
        <author>info@edmontonhomes.ca (Edmonton Homes.ca)</author>
        <title>How to Enhance your Front Yard Curb Appeal on A Budget</title>
    <description> <![CDATA[ 


Barbara Corcoran, a real estate mogul, argued that buyers decide to purchase a home within the first eight seconds of seeing it, so the first impression matters. This is why it’s so important to have a home with great curb appeal.


A home with front yard curb appeal is easier to sell and brings in a higher price offer. It also adds value to your property and gives a good impression to anyone visiting. And who said enhancing your front yard curb appeal has to be expensive? You can accomplish it on a budget and still turn heads with these tips.


Start With the Basics


Before spending any money, start by landscaping your front yard. Stroll around and identify areas that need attention, such as overgrown bushes, dead plants, or cracked pavement. These are things you can easily fix and will make a huge difference. 


Begin by trimming bushes, pulling out weeds, and mowing the lawn. Sweep and wash your driveways and pathways to remove accumulated dirt and debris. Also, repair uneven surfaces and fill in cracks to ensure a visually appealing approach to your home.


Replace or Paint Your Front Door


The entrance of your home sets the tone for what's inside, so make sure it is welcoming. If your front door is outdated or faded, consider replacing it with a new one. You can also paint the door in a bold color that complements the style of your house. 


A fresh coat of paint will give your front door an instant facelift and make it stand out. You don't need much paint for a door. You can save a lot by looking for &quot;oops&quot; paint (paint that came out the wrong color or used the incorrect base by mistake), which is usually discounted. Just ensure you buy paint intended for exterior use to avoid peeling and fading. 


You don't need to spend a lot on a new door, and you can often find affordable options at flea markets or garage sales. Another idea is to add decorative elements like a wreath, welcome mat, or house numbers to make your front door more inviting.


Install an Awning


Installing an awning to cover your patio, entry areas, or windows can add to the visual appeal of your front yard. You can choose between retractable or permanent options, depending on your budget and front yard patio decor. The awning's shape—concave, domed, triangular fixed frame, or rounded entrance canopy—adds aesthetic appeal and can complement the architectural design of your home.


You may want to match your awnings to the trim or front door color instead of the roof color. Try to find something that adds charm and protection from the elements while also fitting in with your existing design. Along with improving your home's exterior aesthetics, they also provide shade, offer protection from rain or snow, keep your home cooler, and reduce energy costs.


Upgrade Your Roofing


An old, outdated, or deteriorated roof is a huge turnoff to prospective buyers who don't want to deal with expensive replacements. If your roof is leaking, everything beneath is at risk. Thus, you want to make sure your roof looks its best. Even if you don't have the budget for a full roof replacement, there are still ways to improve its appearance. 


Consider power washing your roof to clean off moss and debris. Or, hire a professional to repair any visible damages. You can also consider adding architectural shingles or painting your roof in a complementary color to give it a fresh look.


Add Some Greenery


Plants, shrubs, and flowers add life and color to your front yard. They also make the space feel more inviting and welcoming. You can purchase affordable plants at local nurseries or hardware stores. Or, you could even propagate from cuttings of existing plants in your backyard. 


Use planters and hanging baskets to add height and dimension to your front yard. Choose plants that are low maintenance and can thrive in your climate to save on future costs.


Create an Outdoor Seating Area


An outdoor living area can make your front yard more welcoming and attractive. Look for budget-friendly patio furniture at thrift stores, garage sales, or online marketplace platforms. A well-designed patio serves as an extension of your living space, and it’s perfect for relaxing, entertaining guests, and enjoying the outdoors. Add some throw pillows and an outdoor rug to make the space cozy and inviting.


Install Exterior Lighting


A well-manicured lawn and attractive front yard shouldn't be hidden when the sun goes down. Lighting can enhance the look of your front yard and highlight key features such as pathways, plants, and architectural elements. Don't just settle for safety or functional lighting. Go for decorative options that add to the aesthetics of your home. Create an effect you love that's inviting and catches everyone's attention for all the right reasons. 


Perfect Your Driveway Edges


Driveway borders create a margin between your lawn and the paved area. They prevent grass and weeds from growing onto the pavement, making your front yard look neat and well-maintained. The edges also prevent cars from creating ruts in your lawn, which can be unsightly and costly to fix. You can use bricks, stones, or pavers to create a defined border that complements the exterior of your home.


Incorporate Outdoor Art


Outdoor art pieces such as sculptures, fountains, or decorative yard signs can add personality and character to your front yard. Look for affordable options at local art fairs, or create your own DIY pieces using materials such as pallets and driftwood. Just make sure the art piece is weather-resistant and complements the overall design of your front yard.


Upgrade Your Mailbox


A simple paint job or decorative elements can transform your mailbox into an interesting focal point. Look for creative ideas online, such as using stencils to paint designs on your mailbox or incorporating them into a flower bed. You can also replace the entire mailbox with a more stylish and modern design. Just make sure you follow regulations. Curbside mailboxes should be securely mounted with the bottom positioned between 41 to 45 inches above the ground.


Enhancing Your Front Yard on a Budget


Front yard curb appeal builds a connection to the rest of your home. With these budget-friendly ideas, you can create a warm and inviting space that will make any prospective buyer or guest feel welcome. Continue to maintain your front yard with regular upkeep and seasonal updates, and you'll have a yard that stands out in the neighborhood and adds value to your home.


 ]]> </description>
    <pubDate>Wed, 25 Oct 2023 11:41:00 -0600</pubDate>
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    <guid>https://www.edmontonhomes.ca/blog/capital-gains-home-selling.html</guid>
    <link>https://www.edmontonhomes.ca/blog/capital-gains-home-selling.html</link>
        <author>info@edmontonhomes.ca (Edmonton Homes.ca)</author>
        <title>Do You Qualify for the Residential Capital Gains Tax Exemption?</title>
    <description> <![CDATA[ 


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 PRE-eligible, they must report the sale of their home to the CRA. This reporting has been required since 2016.


Here are some more things to know about capital gains tax and the PRE.


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

All Kinds of Dwellings Are Eligible


The PRE isn't limited to single-family houses. Your home also can be a townhouse or a condominium. It can be a mobile home or even a houseboat. If that's where you live, and you own it, it can be eligible. 


In fact, it doesn't even have to be located in Canada. 


One Residence Per Family


Before 1982, a husband and wife could each have a principal residence, and each could claim the PRE when they sold. Since then, however, a family can have only one principal residence each year. A family consists of the owner, their spouse or domestic partner, and their children under 18.


Cannot Be An Income Earning Property


If it's a rental property or a place of business, the owner can't get the PRE, even if they live there. For example, if they live in one unit of a 4-plex and rent the other three, they can't claim the exemption.


What if the property has gone back and forth between residence and rental over the years? In that case, every time the status changes, the CRA deems that the owner has sold it and re-acquired it at the market rate.


If the owner kicks out their renters and moves back in there themselves, they must report it as a sale and pay capital gains tax that year. However, the owner pays the tax only on the appreciation in the years that the property earned income.


Does Not Include Surrounding Land


This restriction applies to farmers and also to anyone else with a large tract of surrounding land. Owners can claim the exemption for only one-half hectare of land. That's about 1.2 acres. For farmers, that's only the farmhouse and its immediate surroundings, not the entire spread. In a few exceptional cases, a larger plot of land can be included if it's required for the enjoyment and use of the property, such as for access to a public road.


Definition of Residence


On the surface, the definition is simple. A home is a principal residence for a calendar year if the homeowner “ordinarily inhabited” it during that year. Whatever place the owner lived in most of the time is their principal residence.


However, the CRA has taken note that some people buy houses and live in them only briefly with the intention of “flipping” them for a profit. This is considered a business and is not eligible for PRE. If the CRA suspects that the owner is doing this, they'll look at their income and real estate buying history to see if what they have is actually a business venture.


What if you rent the home out for a few weeks while you're gone in the summer? That can be OK. That kind of short-term rental does not make your property ineligible for PRE.


Capital Gains on Homes That Are Not a Primary Residence


Second homes and vacation homes, as they aren't the homeowner's primary residence, are not eligible for the PRE. However, sellers do have options to mitigate capital gains taxes on these homes. Be sure to research and understand capital gains taxes applicable to your particular home before going through the selling process. Getting professional advice from a financial planner or real estate agent can help.


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

 ]]> </description>
    <pubDate>Tue, 04 May 2021 08:14:00 -0600</pubDate>
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    <guid>https://www.edmontonhomes.ca/blog/drones-in-real-estate.html</guid>
    <link>https://www.edmontonhomes.ca/blog/drones-in-real-estate.html</link>
        <author>info@edmontonhomes.ca (Edmonton Homes.ca)</author>
        <title>How to Use Drones to Showcase Your Home</title>
    <description> <![CDATA[ 


Using drones in real estate is not a new concept. However, there have been some recent changes in exactly how drones are being employed to sell properties. Given the drop in price in the technology, it's opened the possibility of drones to more than just the luxury market. Learn more about why drones are more effective at giving Northeast Edmonton buyers the scope of a home before stepping foot on the property.


The True Scale


It's easy to see why drones would have dominated luxury home marketing. A property with several acres of land and a 12-bedroom home sitting squarely in the middle simply demands to be shot from above. Drones show not just the extent of the property, but also the outdoor amenities (e.g., the deck, a summerhouse, a pond, etc.) that justify the home's asking price.


But today, drones can be used for nearly any sized property. Traditional professional photographs can be used to make spaces look bigger and brighter than they actually are. And while drone footage can (and should) be edited to make the home look as attractive as possible, it's more difficult for buyers to be misled when considering whether to visit a home or not. A drone will capture the totality of the grounds and structure. This gives buyers more confidence if they do choose to visit, and makes them more likely to take the property seriously from right off the bat.


Think Bigger


A property is more than just the material of the roof and the sod in the backyard. Some property owners will highlight the strengths of their neighborhood by including photos of the surrounding sidewalks, roads, and amenities. The grocery store up the street, the recently paved roadways, and an unblemished sidewalk can be huge perks to a Canadian buyer.


Look for an Expert


An expert drone operator not only has the right equipment to canvas the home and neighborhood, they're also aware of regulations in different neighborhoods. The fines for operating a drone at the wrong time of day or in a restricted space can be staggering. A qualified professional will strategize how to portray the home, taking into account both their experience and the buyer's desires. This is a winning combination that can result in a tight and streamlined video or aerial photos that will immediately bond potential buyers to the home.


Don't Overstep


Those who do opt for DIY drone photographs should know the most common regulations in Canada:




It is strictly forbidden to fly in a restricted airspace. Those who live anywhere near an airport (whether public or private) will need to be particularly careful when operating their drone equipment.


Sellers cannot capture images of people without their permission. This isn't always a major concern if taking footage from far away, but it's worth noting for closeup images.


Drones always have to yield to children or animals in the area. Those who aren't familiar with drones may have a difficult time reacting quickly enough in an unexpected situation.




Consulting a real estate agent can help property owners understand more about if and how to use a drone to sell their home. These professionals are well-versed in which aspects are selling in certain neighborhoods, giving clients a leg up in their sale.


 ]]> </description>
    <pubDate>Thu, 20 Feb 2020 07:31:00 -0700</pubDate>
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    <guid>https://www.edmontonhomes.ca/blog/risks-of-fsbo.html</guid>
    <link>https://www.edmontonhomes.ca/blog/risks-of-fsbo.html</link>
        <author>info@edmontonhomes.ca (Edmonton Homes.ca)</author>
        <title>Considering FSBO? Some Risks You Need to Understand First</title>
    <description> <![CDATA[ 


Homes are valuable assets, and most individuals understand that they will pay a commission of some type based upon that value when selling through traditional methods. This is a primary reason many Devon AB homeowners looking to sell find the idea of a ‘for sale by owner' (FSBO) transaction appealing. However, regardless of the route taken, owners will spend some money out-of-pocket and face some risks when selling a home in Canada. Here's the scoop on costs and potential pitfalls.


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

Time is Money—Sellers Must Evaluate the Value of Theirs


Owners tend to underestimate the immense amount of time it takes to sell or buy a home without a real estate professional. Selling property typically takes more than one or two local ads, as the majority of serious home buyers search real estate multiple listing services, where ads for FSBO homes cannot be included. This means creating great ads, taking photos and putting them online, navigating phone calls from interested parties, showing the home, etc. If these tasks will interfere with work schedules, the cost of an agent to market the home may be well worthwhile.


Paperwork and Legal Errors Can be Costly


There are numerous real estate transaction laws and loads of paperwork to complete, and just one misstep can delay the sale or even result in catastrophic legal consequences. Mistakes in FSBO transactions can invalidate the sale or leave the buyer feeling financially shorthanded. Errors in calculating taxes can become big problems, as well as any type of construed violations of the Fair Housing Act on behalf of the seller.


Sellers should be ready to face a lot of paperwork, and many of these legal documents will have strict timeframes and deadlines that must be enforced for legitimacy of the sale. This will entail financial documents, contingency requirements, legal paperwork, appraisal and assessment documents and final closing paperwork. First-time sellers without legal prowess may find themselves in a bind quickly in FSBO scenarios.


Knowing What to Disclose to Buyers


Most Canadian provinces have some sort of legal requirements concerning disclosing potential problems with the property for sale to potential buyers. However, these laws often dictate that one discloses issues that can be considered a ‘latent defect disclosure,' which would make the structure dangerous to reside within or completely uninhabitable.


Conditions meeting that requirement include mould, severe structural damage, roof damage and leaks, and the presence of asbestos and sometimes lead. Keep in mind, these issues may not be deal breakers, as many buyers may plan to raise the structure and custom-build a home of their design.


A Lawyer is Required to Sell a Home in Canada


In provinces such as Ontario, a lawyer is a necessary contributor to the process of finalizing all home sales, which means sellers will pay up front out-of-pocket for these costs. When handling private sales rather through a real estate agent, lawyers have more work to do and charge more. The positives of this requirement is that a real estate lawyer will do a lot to ensure the legality of the sale and protect the seller's interest.


For example, they help determine closing costs and set up the date for finalization in addition to securing earnest money in a trust until the sale is complete. They will also make sure all the legal steps and actions are taken by both buyers and sellers, including meeting deed and contingency obligations. Those who ultimately opt to hire an agent will likely not work directly with the lawyer, as the agent handles most correspondence. Furthermore, the costs of the agent and lawyer are generally absorbed through proceeds from the sale, rather than directly out-of-pocket.


Before deciding to sell a home without an experienced real estate professional, keep all of these potential downfalls in mind. Then determine whether the 'savings' are actually worth the final payoff.


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

 ]]> </description>
    <pubDate>Thu, 03 Oct 2019 09:15:00 -0600</pubDate>
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    <guid>https://www.edmontonhomes.ca/blog/top-methods-real-estate-agents-use-to-market-homes-for-sale.html</guid>
    <link>https://www.edmontonhomes.ca/blog/top-methods-real-estate-agents-use-to-market-homes-for-sale.html</link>
        <author>info@edmontonhomes.ca (Edmonton Homes.ca)</author>
        <title>Top Methods Real Estate Agents Use to Market Homes for Sale</title>
    <description> <![CDATA[ 


In the competitive world of real estate, dedicated agents must use a combination of tactics to effectively market homes for sale. Using their varied approaches, they work hard to position each property in front of ideal buyers to facilitate a quick sale at a competitive price. When homeowners work with real estate agents, they can expect them to use any number of the following techniques to market their homes for sale.


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

Multiple Listing Service


Real estate agents start the marketing process by placing the property in the Multiple Listing Service (MLS) database. This step is an industry norm that allows agents to see the properties for sale as they hit the market. These agents can then market the properties to buyers interested in acquiring real estate similar in spec to that listing. Since the MLS system is only available to participating brokers, the general public cannot view the listings without assistance from an agent.


Networking


Although MLS posts jumpstart the networking process, they are not the only way to get things done. Real estate agents also reach out to their professional contacts directly to share listings that may be relevant to their current clients' interests and needs. They may pick up their phone and call the closest in their network, while sending out emails to the remainder.


Digital Advertisements


With digital advertisements, it is possible for real estate agents to get the word out to the general public about the property's availability, specs, and features. They must create the digital ads using many high-quality pictures and video content to quickly generate interest and secure the sale. With the creation of engaging and informative ads, they can post them on real estate marketing websites and other online publications. Agents can then share the ads through social media, email, and more to inform buyers of properties newly hitting the market.


Social Media Posts


Social media gives real estate agent a way to quickly inform their followers of houses as they hit the market. They can simply post links to their digital ads to show homebuyers the property characteristics and encourage them to schedule a showing. Their followers may share the ads with their friends, family, and neighbors, helping generate interest in the available properties. They can leverage their social influence and pay for social media ad spots to successfully market homes for sale.


Email


Email gives real estate agents another way to share their digital advertisements and engage with interested buyers. They can infuse their ads into educational newsletters or other value-driven content to build interest in their available properties. As homebuyers hunt for the perfect property, they often look forward to receiving listing updates in their email inbox each day. The extra content boosts the value of the emails, raising the open rate and conversion rate across the board.


Video Tours


In marketing real estate, video tours have become wildly popular, especially when drones are involved. Agents may have drone pilots and videographers collaborate to create a 3D video tour to share in all their digital marketing materials. As homebuyers view the tours, they can envision themselves living or working there, inspiring them to bid on the property and complete their purchase.


Brochures


Real estate agents rely on physical brochures to drum up interest from local homebuyers. They create these brochures using a few key pictures and bullet point descriptions that sum up the property. Their brochures are designed to help buyers see if the home will work for their needs and feel inspired to schedule a walkthrough. Tech-savvy agents may include QR codes and other elements that quickly lead homebuyers to digital ads, video tours, and other marketing materials for that property.


Onsite Signage


Onsite signage remains effective in generating leads as interested buyers drive by and spot the home for sale. The signs usually have eye-catching graphics that encourage people to pull over and take a look. The interested parties can then take a brochure from the holder to view the property specifications and features. These signs also encourage organic sharing of the marketing materials. People who live around the home for sale may take pictures of the onsite signage and brochures to share with their family and friends, for example, encouraging them to come live nearby.


When real estate agents rely on a mix of the above marketing tactics, they can quickly find qualified Spruce Avenue new home buyers who are ready to purchase the property of their dreams. Homebuyers greatly benefit from this collaboration, as their properties are more likely to sell quickly and at a competitive price.


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

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    <pubDate>Thu, 08 Aug 2019 07:58:00 -0600</pubDate>
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    <guid>https://www.edmontonhomes.ca/blog/repairing-pet-damage-projects-to-complete-before-selling.html</guid>
    <link>https://www.edmontonhomes.ca/blog/repairing-pet-damage-projects-to-complete-before-selling.html</link>
        <author>info@edmontonhomes.ca (Edmonton Homes.ca)</author>
        <title>Repairing Pet Damage: Projects To Complete Before Selling</title>
    <description> <![CDATA[ 





In Canada, about 67 of households own at least one pet—that’s millions of homes with furry, feathery, or scaly friends. That’s a lot of pets, and, as all pet owners know, a lot of potential damage that can be done to a home. When preparing to sell a home, it’s important to try to reduce as much of that damage as possible because buyers typically don’t like to buy homes, especially in a hot housing market, that require a lot of fixing unless they’re specifically looking for a fixer-upper. Here are some of the different damage types pets tend to cause and how to fix them.


Scratched or Stained Wood Floors


When dogs, especially big dogs, run through a home to chase after a toy, their nails can cause a lot of damage to floors. And in the event of accidents, pet urine can also seep into floors and leave unsightly stains. However, replacing wood floors can be extremely expensive, and homeowners can’t be expected to replace them just because of one stain or some scratches. In this case, homeowners can instead get their hardwood floors refinished. Refinishing will require sanding to remove any previous finish and surface scratches on the floor, cleaning, staining, and a new coat of finish to protect it. 


Stained or Smelly Carpets


Many pets have a special spot that they love to lay on, but those spots can hold in odors, especially if they happen to be carpeting; and just like with hardwood floors, pets who have accidents indoors can cause large stains to get stuck in the carpet. Fortunately, there’s an alternative to ripping out all the old carpeting and getting it replaced. Hiring a service to come and deep clean the carpet with steam can remove stains and smells from carpet. There is also a number of different cleaning products intended specifically for pet stains on the market that homeowners can use as well if deep cleaning doesn’t remove every last trace.


Smudgy Windows


Many pets love to look out through windows to try to find squirrels and other critters that scurry around the backyard. Because of this, the windows may have a lot of doggy slobber on them from wet noses and tongues. Buyers notice when windows aren’t clean, so it’s important for homeowners to make sure their windows are smudge-free. Fortunately, this can be done easily with glass cleaner and a rag—no replacements required.


Dead Grass


Pets need a place to do their business everyday, but unfortunately, that business can lead to dead grass. Dead grass isn’t appealing to any sort of buyer, so homeowners need to take care of their lawn to get it looking bright and green again. Here’s how to regrow grass that has been killed by pet urine:




Remove as much of the dead grass as possible with a rake.


Spread extra-fine ground limestone over the spot.


Water the area gently to help the limestone absorb, but be careful not to wash it away.


Let the limestone sit for a week.


Spread preferred grass seed over the spot and water as directed on the packaging.




There are many different types of grass seed available, including some that are specifically intended for use on pet-ruined grass, so be sure to pick the right one for the yard.


Pets are great additions to a family, but they can unfortunately damage a Spruce Avenue new home without meaning to. When preparing to sell a home, keeping these projects in mind and completing them as necessary can help bring a home to a sellable condition.


 ]]> </description>
    <pubDate>Thu, 16 May 2019 10:07:00 -0600</pubDate>
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    <guid>https://www.edmontonhomes.ca/blog/sell-home-in-buyers-market.html</guid>
    <link>https://www.edmontonhomes.ca/blog/sell-home-in-buyers-market.html</link>
        <author>info@edmontonhomes.ca (Edmonton Homes.ca)</author>
        <title>How to Sell a Home in a Buyer's Market</title>
    <description> <![CDATA[ 





Sellers who are getting ready to let go of their property first have to determine what type of market they're in. In primary markets, it's clear that sellers have an advantage. In others, the upper hand goes straight to the buyer. There are a number of ways to spot a buyer's market even if sellers aren't real estate experts—For Sale signs sit out for months, abandoned homes are common, and valuations continue to drop every year. But sellers can still exercise control, even when their prospects seem dire.


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

Getting Ready to Sell Your Home


One of the smartest things a seller can do is manage their own expectations before getting started:




Mental preparation: A seller has so many emotional attachments to a home, and these sentimental feelings can make it difficult for sellers to accept the lack of interest in their home. Prior to putting the home on the market, the seller should plan ahead in case the home remains unsold for several months (or more).


First impressions: For better or worse, buyers are very susceptible to the first impressions of their home. Improving the outside of the property with top-notch curb appeal can be a great way to draw buyers in and help them make their own emotional connections to the home. In addition, sellers can consider getting their own inspection of the home. Buyers who can look at an official report are assured that sellers feel confident about the state of their home—even if buyers get an inspection of their own.




Home Sale Negotiations in a Buyer's Market


Buyers aren't given carte blanche to make outrageous demands to the seller just because they're in a buyer's market. However, sellers may want to be more flexible when it comes to buyer requests. For example, if a buyer asks the seller to store some of their furniture in the garage until move-in, it's easy for a seller to turn this request down. But in a buyer's market, it's these kinds of compromises that can sell a home faster. Buyers may be more willing to meet the seller's financial expectations if they know the seller is willing to go the extra mile for them. Other sellers in the area may be willing to drop the price, but not as willing to facilitate the buyer's move.


Understanding Your Neighborhood


Each neighborhood has its own quirks when it comes to what people want and how they choose to buy. For the most part, these patterns are often only apparent to the real estate agents who have the opportunity to see how the details play out in the real world. A good agent can help a seller understand how to brand and market their home. For example, some provinces may see more buyers on specific Facebook groups. If the real estate agent is already active on those groups, they can introduce new buyers to the home. Other markets may skew toward a certain demographic (e.g., young families, retirees, etc.), which can help a seller decide how to stage their home.


Glenora sellers who can't afford to wait until the market takes a turn for the better may need to adjust their expectations of how their home sale will go. Those who can work within the system have the best chance of getting the price they want at the time they want it.


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

 ]]> </description>
    <pubDate>Fri, 04 Jan 2019 10:08:00 -0700</pubDate>
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    <guid>https://www.edmontonhomes.ca/blog/selling-papers.html</guid>
    <link>https://www.edmontonhomes.ca/blog/selling-papers.html</link>
        <author>info@edmontonhomes.ca (Edmonton Homes.ca)</author>
        <title>How to Complete Your Selling Paperwork for Faster Closing</title>
    <description> <![CDATA[ 





The paperwork of a home sale can be difficult to wade through for those who aren't familiar with real estate. Not only is it time-consuming, but it's also confusing to interpret the many terms and contingencies that lace through practically every form. Those who want a relatively quick and easy escrow process should have an idea of their obligations so they can speed their closing date along.


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

Clean Title


Home buyers are justifiable to demand a clean title before purchasing a home. The last thing they need is for a bank to show up with a lien on the property or an ex-spouse to claim the property is rightfully theirs. Home sellers need to either prove their total ownership of the home or disclose any potential problems that may interfere with the buyer's ownership.


So if the neighbor has been pestering the seller that the hedges that border the property are in dispute, sellers need to either work this out before selling or officially tell the buyer about the conflict in the title paperwork. Sellers also may need to include information about their mortgage payment history, including any penalties they may have incurred. 


Included Information


Buyers and sellers will typically work together to decide exactly what is included in the home sale. If the seller wants to take the bedroom ceiling fan with them when they go, they'll need to specify this in the paperwork so there are no disputes. This step may take some time, but it's the best way to ensure everyone gets what they're looking for.


Sellers should also work to give buyers the financial data they need to budget for home ownership. This can include anything from utility bills to property taxes from the last 12 months. If the seller has a contracted worker (e.g., gardener, pool cleaner, etc.), they need to provide the future buyer with the official paperwork.


What's required of a seller varies by province, but this step is a smart one regardless of whether or not it's necessary. Sellers can also include information about the future of the neighborhood (e.g., if there's a major shopping center being developed in the next 10 years). Going the extra mile can save time in case buyers ask for additional information before closing. 


The Tone of the Paperwork


Sellers should want to show buyers just how much care and attention went into the home over the past year. For example, sellers who score high marks on their Certificate of Location can confidently tell buyers that their home was deemed to be in excellent condition by the local surveyor.


If sellers have made major renovations to your Northeast Edmonton property, they'll want to include the documentation as to who they hired, what was done, and how much was spent. Active warranties on appliances or workmanship and user manuals can all go a long way to assuring a buyer that the seller was responsible and careful enough to hold onto this useful information.


The best way to complete selling paperwork is always going to involve having a real estate agent help fill everything out. They're the ones who can button up each clause to ensure buyers get everything they need. At the same time, sellers will need to take some responsibility by understanding the forms and gathering the documents they need to make the process as smooth as possible.


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

 ]]> </description>
    <pubDate>Thu, 13 Sep 2018 07:53:00 -0600</pubDate>
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    <guid>https://www.edmontonhomes.ca/blog/what-to-know-about-tax-laws-when-buying-second-homes.html</guid>
    <link>https://www.edmontonhomes.ca/blog/what-to-know-about-tax-laws-when-buying-second-homes.html</link>
        <author>info@edmontonhomes.ca (Edmonton Homes.ca)</author>
        <title>What to Know About Tax Laws When Buying Second Homes</title>
    <description> <![CDATA[ 





The 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 capital gain of $150,000. The government collects taxes based on a portion of this amount in proportion to the seller's income. Most primary homeowners can deduct capital gains from their sale, but vacation homeowners will not enjoy the same privileges.


How to Calculate the Total


The Canadian government taxes at half the amount of the capital gains. When it comes to the official total, sellers add half their gains to their current yearly income. So in the case of the above example, the seller would add $75,000 to their income for that year. As sellers can imagine, a huge windfall can easily push them into the next tax bracket, meaning they could be paying 40 or more on their capital gains. (Income tax laws vary by province and person.)


Tips to Reduce Total Capital Gains Payment


Sellers are allowed to deduct costs associated with the purchase and sale (e.g., closing costs, etc.) as well as major home remodels. In the case of remodels, the total cost of the home improvements is added to the purchase price of the home, so the difference between purchase and sale price won't be nearly as drastic. So if the example seller completed $20,000 in repairs over the course of their lifetime, then the purchase price would be $70,000 and the capital gain would be $130,000.


Changing the Status of a Secondary Home to Primary Residence


Because primary and secondary homes are taxed differently, some vacation homeowners will move into their second home for a year and sell it as their primary home to avoid paying capital gains. This is a valuable option for individuals whose secondary residences has heavily increased in value. Once the homeowner has established their secondary home as a primary residence, they can then sell it and move to another home.


However, homeowners should research the legal requirements of establishing a home as a primary residence, as it requires planning and legal considerations. If the homeowners' primary home has plummeted in value, the vacation homeowner could sell both properties and deduct their capital losses from their capital gains (for a net zero effect.)


Donations and Contingencies For Capital Gains


Homeowners also have the option of donating their capital gains to a charity in order to receive a tax credit. The tax credit may not be enough to make the donation worth it, but homeowners should talk to a financial planner to clarify. If sellers know they're going to be in for a particularly long escrow period, they can also appeal to the Canadian Revenue Agency to grant an extension on the capital gains tax.


Sellers do have some options when it comes to reducing their capital gains tax, so it's important they realize this before declaring as part of the process to sell a home. But because the laws and paperwork can be complicated, it's always going to be best to talk to financial planner or real estate agent before making any major moves.


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

 ]]> </description>
    <pubDate>Thu, 19 Jul 2018 06:42:00 -0600</pubDate>
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    <guid>https://www.edmontonhomes.ca/blog/3-tips-for-better-staging-when-selling-a-home.html</guid>
    <link>https://www.edmontonhomes.ca/blog/3-tips-for-better-staging-when-selling-a-home.html</link>
        <author>info@edmontonhomes.ca (Edmonton Homes.ca)</author>
        <title>3 Tips for Better Staging When Selling a Home</title>
    <description> <![CDATA[ 



No 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 practically nothing or that they should run while they still have the chance. Good home landscaping, such as an updated front stoop, a walkway lined with flowers, and a fence with a fresh coat of paint are all relatively inexpensive steps to make the outside look a lot more welcoming.


Staging Questions


Upstairs laundry units, hedges or fences, big closets, formal dining rooms, fireplaces: these are just some of the features that sellers may want to highlight. Staging these areas effectively can help bring more attention to the best parts of the home as a way to encourage buyers to start their bidding. Cashmere throws near the fireplace, a big table in the dining room, and closets that are about halfway to three-quarters full will all draw the buyer's eye to the benefits they're looking for. It may not be strictly necessary for a seller to get their asking price (or above), but it certainly couldn't hurt.


Go the Extra Mile


No one is immune to the scent of a pie in the oven or a cup of fresh hot chocolate on the counter. These little touches all take some extra effort on the part of the seller, but they're not difficult to accomplish. Even a small water fountain in a foyer can set a calm and inviting mood of potential buyers immediately. Choose neutral colors whenever possible to give buyers a chance to imagine their own decor in the Beaumont home.


The home selling process can be a tiring one, but there are plenty of rewards for those who approach it with a little logic and a lot of heart. Buyers want to know that their new home was loved and cherished, and the right staging done prior to a home showing will tell a very compelling (and truthful story) about the home's history.


 ]]> </description>
    <pubDate>Thu, 19 Apr 2018 11:42:47 -0600</pubDate>
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