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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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Year-end Wrap for Properties in Edmonton!

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Over the course of the last year, I’ve written lots of blog articles about all things properties in Edmonton. With December quickly passing us by, I thought it would be fitting to write a year-end blog recap for our 2022 blog content. This way, you can check out all of the posts I wrote and catch up on any missed information about properties in Edmonton. In this article, I will provide you with a short summary of each post, categorized by season. Continue reading below to discover the content you missed from 2022!

Properties in Edmonton – Spring & Summer Blog Recap

May – Why Choose Sherwood Park Real Estate?

Sherwood Park real estate is an appealing place to put down roots. This highly sought-after neighbourhood is located just east of Edmonton. Residents can enjoy a relaxed suburban lifestyle only minutes from Edmonton’s downtown core. Sherwood Park real estate is the perfect balance between big city living and community comforts. Learn more about the various perks of owning Sherwood Park real estate in this article!

June – Why Choose Real Estate in Downtown Edmonton?

Real estate in Downtown Edmonton is an exciting place to call home. Homeowners of real estate in Downtown Edmonton can enjoy superb nightlife, great restaurants, new architecture, and plenty of green spaces! Living in Edmonton’s downtown core provides you with endless opportunities for work and pleasure. Discover why you should choose to live in Downtown Edmonton, here.

July – Seller’s FAQ With An Edmonton Real Estate Agent.

When selling a home, many tough questions can arise. For most individuals, your home is your most valuable possession. As your Edmonton real estate agent, I want to ensure that you get the best deal possible for your home. In order to do so, I answered some common questions that I get asked during the selling process. Learn more about this article now! 

Aug – What Makes a Good Sherwood Park Real Estate Agent?

A good Sherwood Park real estate agent is quantified in a number of ways. Your agent will be responsible for negotiating, finding you the right property, helping you market your home for sale, and/or guiding you through the process. There are three major qualities that any great real estate agent must possess. Continue reading this article to find out what these qualities are!

Fall & Winter Blog Recap

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Sept – Sell Your Home Fast & Move Into a Sherwood Park Property.

If you want to sell your home quickly, this is the article for you! Getting your home sold can be a lot of work. However, with the help of a trusted agent and some tips, you’ll sell your home in no time. Move into your dream Sherwood Park Property right on schedule with these home-selling tips!

Oct – Fall Maintenance For Homes in Sherwood Park!

Fall is the perfect time to get ahead on your chores list! Getting your home ready for cooler temperatures is essential. This will help you to avoid issues with your heating, roofing, drainage, and overall safety. Take care of these mundane tasks now, so you can enjoy your winter worry-free! Most of these items are easily completed without the help of an expert. Check out this article for some fall maintenance tips!

Nov – How to Prepare Real Estate in Sherwood Park for the Holidays!

The holidays have a funny way of sneaking up on you. November and December tend to fly by without warning. So, it is important to prepare your real estate in Sherwood Park for the holidays as early as you can. Especially, if you are planning to host guests and holiday events. From deep cleaning to checking that the essentials are in order, it is crucial that you get a head start on the holiday season. In this article, I went over the best tips for preparing your home for the holidays!

Contact Me About Properties in Edmonton!

Properties in Edmonton are a great investment for the new year. I’d like to thank all of my clients for another wonderful year in the Edmonton real estate market. For more information on selling or buying homes, contact me today. I’d be happy to answer any questions you have about how to achieve your real estate goals in 2023. 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.

Happy holidays everyone!

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How to Prepare Real Estate in Sherwood Park for the Holidays!

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The holidays have a funny way of sneaking up on you. November and December tend to fly by without warning. So, it is important to prepare your real estate in Sherwood Park for the holidays as early as you can. Especially, if you are planning to host guests and holiday events. From deep cleaning to checking that the essentials are in order, this guide will get you a head start on the holiday season.

In this article, I will be going over the best tips for preparing your home for the holidays. Follow along below to learn more!

Start As Soon As Possible!

The best tip for preparing your home for the holidays is to begin as early as you can. There’s no time like the present when it comes to getting ready for November and December. To make sure that you stay on top of things, try creating a timeline for the weeks leading up to guests’ arrival or festive parties. During the early weeks, it is good to focus on getting the necessary supplies for the holiday season. For instance, gift wrap, food staples, drinks, and gifts. These are the tasks that usually cause the most stress, which is why it is good to get them out of the way early on. You can save chores like cleaning and decorating until guests arrive. 

You may also consider prepping some baked goods or dinners for the upcoming weeks so that you don’t have to worry about cooking on busy days. It is also a good idea to make room in your fridge and freezer for all of the holiday food that is sure to come your way! There’s nothing more satisfying than a clean fridge and freezer. 

Make Sure Your Real Estate in Sherwood Park is Functioning Properly.

As you gear up for the holidays, the most important thing to do is ensure that your home is functioning properly. Colder temperatures and snowfall can cause all sorts of mayhem within your home. This is why it is important to make sure everything is in working order before guests arrive for the holidays. Check the essentials like your heating, A/C, and water pressure. You can check the water pressure of your showers and faucets by purchasing a pressure gauge from your local hardware store. Generally, you want the pressure to be somewhere between 40 and 60 psi. 

In addition to this, you’ll want to clean out your vents, fans, filters, and AC registers. Whether you’re having guests over or not, this is a good maintenance task to add to the list. Many people neglect to clean the places where air circulates which causes poorer air quality. Especially, because people tend to spend more time indoors during the winter months. 

Furthermore, you will want to check your furnace before it is time to kick on the heat. During the summer when your furnace is not used, it will typically collect dust. It is important to clean the dust off of your furnace before you turn it on to avoid the burning smell that will otherwise happen. You may also want to have a professional come and inspect your furnace if you believe there is anything wrong with it. 

Get Cleaning and Make Necessary Improvements.

Finally, the last thing you’ll need to do is clean and make any necessary improvements. You can begin by decluttering and donating any unused items. Not only is this a good way to keep things neat and tidy, but it is also a great way to help out your community during the holidays. Things like old winter clothes, toys, blankets, and pillows are all good donation items. Once you have effectively decluttered, you can get into the cleaning. 

Before your guests arrive, it is important that you vacuum, wipe dusty surfaces, clean the kitchen and remove any grime from the bathrooms. This will help keep the dust down and remove any germs. With guests from out of town and changing weather, it is easy to get sick during the holidays. This is why it is so important to keep your home clean and tidy!

Contact Me Today!

Preparing your home for the holidays in advance will help you minimize stress and maximize relaxation time. Create a basic to-do list and get started with preparing your real estate in Sherwood park for the holidays. For more information on selling or buying homes, 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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Sell Your Home Fast & Move Into a Sherwood Park Property

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If you’re looking to sell your home quickly, then this is the article for you! Getting your home sold can be a lot of work. However, with the help of a trusted agent and some tips, you’ll sell your home in no time. Move into your dream Sherwood Park Property right on schedule with these home-selling tips! Follow along below to learn more about how you can sell your home quickly! 

Hire a Great Real Estate Agent!

The first step in selling your home during a time crunch is hiring the service of an experienced real estate agent. There are tons of reasons why hiring a REALTOR® will accelerate the sale of your property. For instance, a real estate agent has marketing knowledge and resources that will help to promote your property. It is hard to get this kind of platform when you choose to sell your home as an FSBO.  REALTORS® have access to a Rolodex of contacts, and an efficient marketing team.  These factors make hiring an agent an invaluable investment. 

Furthermore, a real estate agent’s job is to sell your house. This means that all of their time is spent on making your real estate dreams come true. If you were to sell the home on your own, there might be other responsibilities that hinder your ability to sell the home on a schedule. Lastly, a real estate professional will be able to give you advice and provide information about areas of uncertainty. This will help save you money and time. 

Showcase Your Home’s Greatest Assets.

If you’ve recently made some renovations to your home or added some cosmetic improvements, be sure to showcase these in your listing. Features like these will capture buyers’ attention when they check out your listing. If you think your home lacks a stand-out feature, talk with your real estate agent about how to change this. Or, try doing a bit of landscaping to clean up your yard. Nothing jumps out at buyers more than great curb appeal. Consider planting some colourful flowers, and invest in a new welcome mat. You can also buy a new front door or paint it a fun colour. Ensuring that all garden beds are weeded and the lawn is mowed are also key factors in good curb appeal. Do what you can within your budget to set your home apart from your neighbours! This will help to draw people toward your home. By doing so, you’ll be one step closer to your dream Sherwood Park property!

One Coat of Paint = One Step Closer to Your Sherwood Park Property!

So, you decided to paint your walls neon green. Unfortunately, this isn’t going to fly with most buyers scouring the market. If you have some crazy coloured walls, you may want to consider changing up the colour palette. Buyers need to be able to envision themselves and their things in the space. Sadly, most people can’t do that with neon wall colours. Opting for something neutral like white is usually a good move. Repainting will give the home a fresh smell and help brighten up the place. It’s also a good idea to declutter the shelves, walls, and countertops of your home. Do this by removing any family photos and personal items. This is an important step because it makes room for others to envision themselves in the home. 

Stage 1-2 Key Rooms In Your Home.

In some cases, spending the money to hire a professional stager can help you sell your home more quickly. Many sellers opt to stage their homes for a variety of reasons. For example, outdated furniture, too many personal items, or not enough furniture. Staging your home is a great way to remove your personality from the home and add value to the property. Contrary to popular belief, you don’t have to stage every room in your house. In fact, staging 1-2 rooms can be just enough to entice buyers. Areas that you would want to stage are the living room, master bedroom, and kitchen. 

Be sure to finish any incomplete renovation or home improvement projects. These are not appealing for a buyer to have to take on. Sometimes, unfinished projects can be a red flag to buyers. Avoid this by completing all of your handy work!

Make Sure the Listing Price is Perfect.

This is a step where having a real estate agent is incredibly helpful. Pricing your property right is essential in selling your home and making a good profit. Ask your agent to help you find a price that suits your property. If you want a second opinion, ask a home appraiser to provide you with a complete report on your home’s worth. Using a home appraiser will provide you with an impartial idea of the value of your property. This will be based on market conditions, and any time limitations you have. 

Contact Me About Buying a Sherwood Park Property Today.

For more information on buying a Sherwood Park property, 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.