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All About Home Inspections For Properties in Sherwood Park!

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Home inspections are an important part of any buyer’s journey to finding the right home. Having a home inspection conducted by a trusted professional will ensure that your dream home doesn’t come with any costly issues. Although home inspections aren’t mandatory in Canada, they are strongly recommended! In this article, I will be going over everything you need to know about home inspections for properties in Sherwood Park. Continue reading below to learn more. 

What’s a Home Inspection and Why Get One?

A home inspection is a type of inspection that is done by a house inspector. House inspectors are trained professionals who evaluate homes to determine their condition. Usually, a home inspector is hired before closing to determine if there are any serious/non-serious issues with the home. The main purpose of a home inspection is to ensure that the buyer is investing in a home that is in good condition and worth the sale price. 

As I mentioned earlier, home inspections are not mandatory in Canada. Because of this, many buyers will choose to skip the home inspection in order to seal the deal before the home is snatched up by another buyer. This is especially common in aggressive markets like Toronto. It was also a common trend in 2021 and 2022 when Canada’s real estate market set numerous records because of the pace at which homes were selling. Despite this, nearly any real estate professional will advise you to have an inspection done before buying a home. After all, no one wants to discover costly issues after they’ve already closed the deal. 

Cost, Time, and How to Hire?

A home inspection is a cost that you’ll want to factor into your budget when buying a home. Unfortunately, there is no one-size-fits-all cost for home inspections. In Alberta, residents can expect to pay anywhere from $250 to $600 on average for a home inspection. This cost fluctuates depending on the square footage of the home that needs to be inspected. For instance, a small apartment or condo will likely cost about $250 for an inspection. Whereas, most single-family detached homes will be closer to the upper end of $600. 

Home inspections take roughly 1-3 hours to complete. However, this timeframe is again dependent on the size of the house. 

Unlike other provinces/territories in Canada, Alberta is one of the only places that regulates home inspectors. This means that finding a trustworthy inspector will be much simpler. Albertan home inspectors must satisfy a few key criteria in order to obtain their mandatory licensing. For instance, a completed application form, a criminal record or police information check, and proof of education. It should be noted that all Albertan home inspectors must have a license provided by Service Alberta. Be sure to do your due diligence when searching for a home inspector. Just like with any other trade, it is important to shop around so that you can find the most suitable candidate for the job!

What’s Covered in a Home Inspection for Properties in Sherwood Park?

Home inspections typically cover a wide range of evaluations of both the interior and exterior of the property. These inspections are non-invasive and meant to uncover any hidden/obvious defects within the home. The areas checked by your home inspector will likely depend on the size of the home. Some areas that are commonly checked include:

  • Electrical wiring
  • Plumbing
  • Ventilation
  • Heating/cooling systems
  • Insulation
  • Basement
  • Attic
  • Windows/doors
  • Ceiling, floors, and walls
  • Roof
  • Gutters
  • Garage
  • Decks
  • Fencing
  • Drainage
  • Foundation
  • The slope of the property (grading)

Once your home inspection is complete, you will receive a report usually within 24 hours. It is worth mentioning that homes never fully pass an inspection. In fact, it is quite common for things like doors and faulty faucets to be listed on the report. However, you’ll want to keep an eye out for issues with the roofing, foundation, plumbing, heating and electrical systems! These are often telltale signs of costly repairs. 

Contact me About Properties in Sherwood Park!

As you can see, getting a home inspection is an important part of the home-buying process. Contact me today to learn more about home inspections for properties in Sherwood Park. For more information on selling or buying real estate in Edmonton, check out my social media. I’d be happy to answer any questions you have about how to achieve your real estate goals. Feel free to reach out to me at any time! Be sure to check back next month for more real estate-related information. I look forward to working with you in the near future. 

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Energy Efficiency & Sherwood Park Homes for Sale!

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Energy efficiency is becoming increasingly important. With the rise in climate concerns, a number of homeowners across the country are looking for ways to reduce their carbon footprint. Thankfully, there are tons of new energy-efficient alternatives to basic home fixtures. And, contrary to popular belief, most of these options can be implemented without breaking the bank. In fact, the majority of homeowners who incorporate green alternatives, end up saving money! In addition to this, a Vancouver-based company has just released new software to generate energy efficiency ratings for single-family homes in Edmonton and Calgary. To learn more about how to make Sherwood Park homes for sale energy efficient, continue reading this article!

Minimizing the Carbon Footprint of Sherwood Park Homes for Sale

  1. Replace Incandescent Bulbs with LEDs

Incandescent light bulbs make a huge impact on your carbon footprint. Those who still have incandescent bulbs in their homes will have a much higher carbon footprint than those who use LEDs. In general, LED bulbs use 85% less energy than their incandescent counterparts. By replacing 30 incandescent bulbs, you can save as much as 4000 lbs of CO2 per year. Not to mention, LEDs are way cheaper since they require less energy. Furthermore, LED bulbs are good for roughly 50,000-100,000 hours. By comparison, incandescent bulbs only last about 1,200 hours.

  1. Air Seal and Insulate Your Home

Air sealing your home can vastly improve its energy efficiency. Closing up any gaps in your insulation will keep your home cooler during the summer and warmer during winter. Hiring a professional air sealing company and upgrading your insulation can eliminate a host of household problems. For instance, eliminating that pesky draft, or keeping critters from getting inside. Ensuring that your home is sealed properly has also been proven to enhance the efficiency of your HVAC system as well—talk about a win-win. 

More Ways to Go Green!

  1. Use Less Water (Specifically, Hot Water)

Another way that homeowners can minimize their carbon footprint, is by using less water. More specifically, by using less hot water. Hot water is much more resource intensive than cold water. One of the easiest ways to reduce your hot water usage is to do your laundry with cold water. This simple switch can bring down your carbon footprint and make your clothes last longer.

  1. Switch to Solar

While this solution is not as affordable as the others, it does make an impactful difference. Solar energy is a great way to cut down on carbon emissions and reduce monthly energy bills. Depending on where you are located, your municipality may have solar initiatives that incentivize homeowners to invest in solar by paying for a portion of the cost. So, solar doesn’t always have to be expensive. Investing in solar wherever possible is a great idea. Even solar-powered generators can make a huge difference. 

The Future of Energy Efficiency in Edmonton Homes

Earlier in the article, I mentioned a new technology that can generate energy efficiency ratings for single-family homes. This software was rolled out on March 30th by a Vancouver-based company called Lightspark. According to Lightspark, the site’s beta version will run for three to six months as a pilot project. However, it has been under development for the past few years. 

This technology uses artificial intelligence and machine learning to determine the energy efficiency of homes in the area. On the map on their website, you can see which homes in Calgary and Edmonton are more energy efficient and which homes are less efficient. Houses that appear red are considered inefficient and houses that appear green are very efficient. 

Lightspark uses data from the census, EnerGuide labels, light detection, and property tax rates to approximate the efficiency of each home. To help advance the software, homeowners can register their homes with Lightspark and provide more information to improvise the scores’ accuracy.

Edmonton city officials are excited about this software as it will ideally help the city reach its carbon reduction targets sooner. Unfortunately, as it is right now, both Edmonton and Calgary would require homes to undergo energy-efficient upgrades every year until 2050 in order to reach their goals surrounding carbon emissions. 

Contact me About Sherwood Park Homes for Sale

Considering ways that you can cut back on carbon emissions is essential to our future. Plus, in most cases, being energy efficient means spending less money over time. 

Contact me today to learn more about Sherwood Park homes for sale. For more information on reducing your carbon footprint, feel free to reach out. I’d be happy to answer any questions you have about how to achieve your real estate goals. Be sure to check back next month for more real estate-related information. I look forward to working with you in the near future. 

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Condos in Edmonton: All About Condo Fees.

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Often, condos are praised for their affordability compared to traditional homes. They are seen as a great option for young people looking to get on the property ladder or retirees that don’t want to maintain an entire house. At face value, condos boast better prices. However, once you dig past the surface, you might find that condo fees are the catch. Condo fees are monthly dues that condo owners must pay in addition to their mortgage payments. In general, condo fees cover the maintenance of common areas in the building. This might mean, landscaping, window washing, snow removal, pool maintenance, etc. If you’re curious about the fees associated with condos in Edmonton, continue reading this article.

Below, I will go over the basics of condo fees in Edmonton!

How do Fees get Calculated for Condos in Edmonton?

Usually, condo fees are calculated as a percentage of the total amount of maintenance required for the building. Annual maintenance costs and additional money for the reserves will comprise the condo fee. The reserve fund is set aside for any unexpected expenses or long-term repairs like redoing the roof. Finding a building with a healthy reserve fund is always ideal when searching for a condo. All of these costs are managed by a condo board that oversees the budget and tracks annual maintenance expenses. 

Typically, the amount that you contribute is calculated based on the value of your unit. To provide an example, Sterling Homes writes that “if there were 100 condos of equal value in the building, each condo owner would be responsible for one percent of the total annual charge, divided into 12 monthly payments.” Obviously, not all condos in a building will be of equal value because of size, amenities, view, etc. So, when you purchase a condo, you can expect that the more valuable your unit, the more expensive your condo fees will be. Be sure to inquire about condo fees prior to purchasing a unit. 

Condo Fees Aren’t Set in Stone

A diligent condo board will maintain an organized budget and follow it. However, depending on the age of the condo the reserve fund might be sparse. In this case, any unexpected costs that cannot be covered by the base condo fee will require a “special assessment”. A special assessment must be paid by all owners. 

Although, special assessments can happen whether there is enough money in the reserve or not. For example, if the board uses all of the money in the reserve to repaint the interior and then the elevator breaks, you and all other occupants are on the hook to cover the cost of the repair. 

For newer buildings, you will generally have to pay a greater condo fee at the start to help build up the reserve fund. Contrastively, you will have more special assessments. 

Average Fees and What to Consider

Condo fees vary immensely from building to building. And, it is almost impossible to give an average because the range is so large. Some condo fees may be at the low end of $200-300 per month. Whereas, others may be closer to $1000. While you search for the right home for you, be sure to factor in this expense. A high condo fee can sometimes equate to being the same or more expensive than owning a single-family home. 

Before you sign anything, make sure you understand what is covered by each condo fee. Take a close look at the fine print and ensure that you aren’t paying for a ton of amenities that you aren’t going to use. For example, if your building has a pool, but you hate public swimming, you might resent paying for the upkeep each month. Especially, if/when something breaks. In general, you want to be sure that your condo fee covers the important stuff. For example, landscaping, heat and water, insurance for the structure, security as needed, reserve fund contributions, etc. Looking into condo fees is essential in preventing yourself from being hit with a bunch of surprise fees. 

Contact Me About Condos in Edmonton

Contact me today to learn more about the fees associated with owning condos in Edmonton. For more information on selling or buying condos, contact me today. I’d be happy to answer any questions you have about how to achieve your real estate goals. Feel free to reach out to me at any time! Be sure to check back next month for more real estate-related information. I look forward to working with you in the near future. 

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Owner’s Rights of Condos in Downtown Edmonton

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Buying a condo and buying a house are two very different things. While the process of buying may be similar, the differences in living are apparent. Condos and homes both come with their pros and cons. If you’ve decided that owning a condo is right for you, it is important to consider your rights as an owner of condos in Downtown Edmonton. In this article, I will be answering your most commonly asked questions about owning a condo. For instance, what do you actually own? What’s the difference between a condo and an apartment? And, are there benefits to condo ownership? Follow along below to learn more about this topic.

Differences Between Condos in Downtown Edmonton and Apartments.

Condos and apartments share many similarities. However, the biggest difference lies in ownership. Generally speaking, an apartment is owned by a leasing company that will lease out units. On the flip side, condo units are owned by individual condo owners. Thus, as a person looking for a home, you can: a) rent an apartment unit, b) rent a condo unit from a condo owner or c) buy a condo unit and become a condo owner. 

Those who rent an apartment will generally have a managing company that oversees everything to do with the apartment building. However, if you rent a condo, your landlord will be the condo owner. This can result in frequent check-ins, and delayed problem-solving. Especially, if your landlord has never managed a property before. On the contrary, if you own a condo, you don’t have to worry about landlords or management companies. 

In general, condos and apartments both have companies that deal with exterior maintenance. However, apartments also have companies who manage the interior. This means that you have less freedom and control over your apartment. But, it also means that an apartment is less maintenance than a condo. 

What do I Own When I Buy a Condo?

Before you buy a condo, it is important to determine if you are buying a conventional condo or a bare-land condo. A conventional condo means that buyers own everything inside their property based on the boundaries set in the bylaws and rules. Moreover, owners of conventional condos share ownership of the land with all other investors in the condo complex. 

Differently, bare-land condos allow buyers to purchase the plot of land on which the property is built. This usually means that bare land condos cost more. Although, for owners who want control of the exterior and interior of their property, a bare-land condo is ideal. Bare-land condo owners can modify their landscaping, and change up the exterior of their units. As well as, make changes to the interior. 

Both conventional and bare land condos share one common feature: common spaces. Typically, common spaces like sidewalks, parking garages, games rooms, and fitness centers will be maintained by a separate company. This maintenance is usually paid for through fees collected from the unit owners. Furthermore, amenities such as balconies, private parking spaces, and patios are usually considered exclusive-use common spaces. Thus, they are owned by the community association.

If you aren’t sure what kind of condo you are buying, be sure to figure this out. Ask your real estate agent for further clarification on what areas are exclusive and what areas are common. It is important to know everything about your condo before you make the decision to buy!

Why Own a Condo?

Owning a condo comes with a host of benefits. Whether you choose to buy a conventional or bare-land condo, your freedoms are plentiful compared to living in an apartment. In addition, condo units go up for sale in a number of different price ranges. This means you can find affordable units or luxury ones! 

Moreover, you won’t have to worry about much outdoor maintenance. This gives you the freedom to spend your time how you’d like! Further to this, most condo buildings offer several amenities that you wouldn’t otherwise have access to. For instance, fitness centres, security, games rooms, gated boundaries and more. 

Lastly, owning a condo means that you can live in a centrally located area like Downtown Edmonton! Unlike other property types that allow ownership, condos are generally available in all areas of a city – from rural to ultra-urban!

Contact me today to learn more about owning condos in Downtown Edmonton. For more information on selling or buying condos, contact me today. I’d be happy to answer any questions you have about how to achieve your real estate goals. Feel free to reach out to me at any time! Be sure to check back next month for more real estate-related information. I look forward to working with you in the near future. 

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Want to Buy Houses in Sherwood Park then here are 5 Goals to set in 2023

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Happy new year everyone! 2023 is finally here and we are excited to bring you this year’s content. If you have plans of purchasing houses in Sherwood Park in the new year, this article is for you! Buying a home is one of the most challenging and important purchases that a person can make. In addition, buying a home requires extensive planning and lots of prior tasks. In order to make your dream of buying a home come true, it is important to set yourself some goals. In this article, we have listed the top five goals that you should set in 2023 if you are looking to purchase a house.

Continue reading below to learn more to get inspiration for your new year’s resolutions!

Goals to Help you Purchase Houses in Sherwood Park!

  1. Improve your Credit.

Your credit score is a crucial part of the home-buying process. In fact, your credit score can significantly affect the amount of money you pay for a home. Furthermore, it can determine whether or not you qualify for a mortgage. Depending on how good or bad your credit score is, you may need to pay a larger down payment and get charged higher interest rates on your loan. If homebuying is a near-future goal for you, then we recommend you start taking the necessary steps to raise your credit score. 

You can improve your credit rating by doing simple tasks every month. For instance, lowering your monthly spending, paying dues on time, eliminating debt, and not opening or closing credit accounts. Additionally, you’ll want to avoid applying for things that require a hard inquiry. Keep up to date with your score by checking your credit report via a credit bureau or by a creditor.

  1. Pay off Debt.

The amount of debt you carry will also significantly impact your ability to purchase a home. Not only does debt affect your credit score, but it also affects the size of the mortgage loan you can acquire. Most mortgage lenders will want to see a debt-to-income ratio of 40% or lower. Anything higher than 50% generally prevents you from attaining a loan with better interest rates. Focus on one payment at a time and make minimum payments on other cards or loans while you work to pay off debt. 

  1. Avoid Big Purchases!

If buying a home is your main goal in 2023, then we suggest that you avoid making large purchases. This means no vacations, no new cars, and anything else that is non-essential. Making an effort to reduce spending will help fast-track your way to buying a home. 

More Goals!

  1. Save for a Downpayment.

Any person who is planning on buying a home should have “saving for a down payment” as their number one priority. Downpayments are one of the most challenging and tedious processes of buying a home. It takes lots of planning and effort in order to wrangle the funds for a down payment on a home. Moreover, the larger your down payment is, the more you’ll save in the long run on interest and insurance. In order to successfully save for a downpayment, it is important to budget each month, spend less, and find resources like grants in your local area for first-time home buyers!

  1. Don’t Start a New Job!

Many people make the mistake of switching jobs when they are looking to purchase a home. Especially at the beginning of the year when most people have new year’s resolutions to improve their lifestyle or change their career path. While it might seem like common sense that a higher-paying job would make you look better at a lender’s office, it’s not necessarily true. In reality, most lenders require you to be at your current job for a specific amount of time in order to prove financial stability. However, if a job change is absolutely necessary, there are steps you can take to mitigate risk. For example, staying in the same field or providing proof of a four-year degree in a similar field. 

Contact Me Today!

For more information about what new year’s resolutions, you should consider setting as a first-time buyer, contact me today! I would be happy to help you set the right goals to buy houses in Sherwood Park in 2023. If you have any questions about buying or selling a home in the new year don’t hesitate to reach out. Be sure to check back on my blog each month for more real estate-related information. For now, happy new year’s everyone! I look forward to working with you all in 2023.