sherwood park neighbourhood buying guide

A Buyer’s Guide to Sherwood Park Real Estate for Sale

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If you’re looking to capitalize on Edmonton’s real estate market and invest in a home, this guide is for you. Buying a home involves many nuances that both new and previously sidelined buyers should review. From understanding the risks of homeownership to making sure you’re financially ready, there’s a lot to consider. For those who are eager to purchase Sherwood Park real estate for sale, we will be going over everything you need to know about the steps to attaining homeownership in this neighbourhood.

Follow along below to learn more about buying in Sherwood Park, Edmonton. 

Taking Your First Steps

As you start on your journey to finding Sherwood Park real estate for sale, it is important that you begin by assessing your needs and wants. This is an essential step that can help you narrow your search and ensure that buying a home is the right decision. To do this, take some time to reflect upon your future plans. Do you see yourself moving in the next five years? Did you just accept a new job? Are you planning on starting a family or approaching retirement? Asking these questions is a critical first step. If you determine that buying is the most appropriate choice for your situation, you can then start considering more specific questions about purchasing a property. For instance, what size and type of home you want, how many bedrooms/bathrooms you need, and so on. 

The next step is to set your budget. Budgeting is likely the most important part of your buying journey. Finding a price range will dictate several factors. For example, what homes are in your price range, what kind of mortgage you will be looking for, and how much your down payment will be. To get a better idea of your budget, it is a good idea to speak with a mortgage advisor or financial planner. During this step, getting pre-approved for a mortgage of your choice is also a smart decision.

Another key step in the early stages of buying a home is hiring a local real estate agent. Partnering with a real estate agent who understands the local market can play a major role in the success of your purchase. An experienced agent will have great negotiating skills, an in-depth knowledge of the area you’re buying in, and several industry connections to help ease the process. 

What to Know About Buying Sherwood Park Real Estate for Sale?

For those who are interested in buying Sherwood Park real estate for sale, it is a good idea to get a sense of the neighbourhood before narrowing down your search. Sherwood Park, formerly called “The Park”, began in the mid-1950s as a satellite community for Refinery Row industrial employees. However, today, Sherwood Park is a highly sought-after community known for its safe and amenity-rich neighbourhoods. From recreational facilities to greenspaces, Sherwood Park is a desirable area that many Edmonton residents aspire to call home. Within the community exist several high-quality schools and nearby police/ambulance services. 

One of the newer developments in Sherwood Park is called Centre in the Park. This neighbourhood combines modern residential homes with retail services, public spaces, and municipal services. Furthermore, it integrates with older amenities in the community such as Broadmoor Lake Park, the Heritage Trail System, and Festival Place. There are also several businesses and schools connected within the area offering a complete sense of community. 

Another important aspect of Sherwood Park is its hamlet status. In Alberta, the term hamlet is used to define an urban centre governed by the municipality in which it is located. To grasp the significance of this classification, it is important to know that Sherwood Park is a part of Strathcona County. Strathcona County was incorporated in 1996 as a specialized municipality due to its combination of urban and rural areas. This means that the county can receive grants and other provincial benefits available to both rural and urban municipalities. 

Contact me Today!

Working towards buying Sherwood Park real estate for sale is an exciting process. Contact me today to learn more about the real estate market in this area. I’d be happy to answer any questions you have about how to achieve your 2024 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. 

edmonton houses for sale real estate outlook 2024

Houses for Sale in Edmonton: 2024 Market Outlook

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Happy New Year to everyone! If you’re considering entering the Edmonton housing market this year, you’ve come to the right place. Throughout 2023, Edmonton consistently ranked among the top places to live in Canada in terms of affordability and opportunity. Additionally, it boasted some of the most stable housing prices, as reported by CREA. Now, you might be wondering about the changes expected in 2024. What can buyers and sellers anticipate in this year’s market? In this article, I will provide a market outlook for the New Year, offering insights into the latest trends and projections. Join me below as we delve into what to expect from the housing market in Edmonton in 2024!

Trends to Expect From Houses for Sale in Edmonton in 2024

In 2024, buyers and sellers can expect to see some shifts in the market. One of the predictions outlined by experts this year is that the market will shift from one that is balanced to one that favours sellers. This means lower inventory levels and more demand from buyers. So, for those who have been waiting for the right time to list their homes for sale, now may be your chance. 

In Edmonton, RE/MAX forecasted that the two greatest trends that will impact the area will be rising interest rates and interprovincial migration from Ontario. Interest rates will continue to play a crucial role in shaping the dynamics of the real estate market. As interest rates go up, the cost of borrowing will follow suit which is likely to affect the decisions of both buyers and sellers. Higher interest rates in Edmonton may cause changes in affordability in Edmonton which is something the city has yet to see thanks to its stability over the past year. 

As for new residents migrating from Ontario, this will likely equate to more competition for housing. Thus, influencing the value of property in Edmonton and surrounding areas. With Ontario being one of the least most affordable provinces to live in Canada, it’s no surprise that many will be making the move to Edmonton this year. 

Sellers should be aware that single-family homes will be the most popular in 2024. This prediction suggests that among all property types, single-detached homes will be preferred among buyers. If you’re looking to list your single-family home, be sure to tailor your listing in accordance with this trend. Factors such as a growing desire for more space and a heightened sense of privacy are driving the popularity of this housing type. 

Other Items to Note Going Into the Edmonton Real Estate Market in the New Year

Whether you are a buyer or seller going into the Edmonton real estate market, there are some other items worth noting. For instance, in 2024, the city is expecting to experience a four percent increase in average residential prices and a decline of five percent in regard to sale transactions. 

During 2024, experts envision that the top three most desirable neighbourhoods in Edmonton will be Oliver/Downtown, Rutherford/Heritage Valley, and Terra Losa. Recognizing the desirability of these areas holds value for both sellers and buyers. For instance, buyers may want to begin their search in one of these neighbourhoods, as current popularity often signals a smart investment opportunity. Furthermore, sellers in these locales can enhance their market appeal by highlighting unique characteristics that make their property stand out. Thereby, minimizing their home’s days on the market and attracting prospective buyers!

It has also been noted that similar to national trends, the rising interest rates have had a cooling effect on the Edmonton market. However, despite the growing rates, Edmonton has been able to remain relatively affordable. Thus, reinforcing the province’s resilience. Edmonton’s low housing prices and high household incomes are two of the main reasons driving Canadians from out of province to relocate to this city. 

Contact me About Houses for Sale in Edmonton in 2024!

If you’re looking to jump into the real estate market in Edmonton in 2024, now is the time to begin. 2024 is going to bring plenty of opportunities for sellers and buyers alike. Contact me today to learn more about buying or selling houses for sale in Edmonton this year. I’d be happy to answer any questions you have about how to achieve your New Year’s 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 2024! 

blog recap steve leddy real estate in edmonton

Houses in Edmonton: A Year-End Blog Recap!

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2023 is quickly coming to an end! In lieu of this, I thought it would be best to keep with our annual theme of writing a year-end blog recap. After all, one of the best ways to move forward is by reflecting on the past! In this post, I’ll go over all of this year’s content so that you can catch up on any missed articles. All of the content will be categorized by the season/month in which it was published. Follow along below to see what was on my blog about houses in Edmonton during 2023!

Houses in Edmonton – Winter and Spring Recap

donwtown edmonton real estate

Jan – Want to Buy Houses in Sherwood Park? Then, here are 5 Goals to set in 2023

When the New Year hit, I kicked off 2023’s blog content with an article that listed five goals to set for those who were looking to purchase a house. Check out the post if you haven’t already to get inspiration for your 2024 New Year’s resolutions!

Feb – Owner’s Rights of Condos in Downtown Edmonton

Buying a condo and buying a house is very different. In this article, I answered your most commonly asked questions about owning a condo. 

Mar – Condos in Edmonton: All About Condo Fees

Often, condos are praised for their affordability compared to traditional homes. However, once you dig past the surface, you might find that condo fees are the catch. If you’re curious about the fees associated with condos in Edmonton, read this article.

Apr – Energy Efficiency & Sherwood Park Homes for Sale!

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. To learn more about how to make Sherwood Park homes for sale energy efficient, check out this April blog post!

May – All About Home Inspections For Properties in Sherwood Park

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 discussed everything you need to know about home inspections for properties in Sherwood Park. 

Rewinding to Summer and Fall

apartment in Downtown Edmonton

Jun – Apartments in Downtown Edmonton: Creating Your Own Space in a Shared Home

Sharing an apartment with another person can help to significantly reduce your cost of living. In this article, I went over some tips for living in a shared apartment in downtown Edmonton! 

Jul – How Does an Agent Help Buyers of Homes in Edmonton South?

Are you looking to buy homes in Edmonton South in the New Year? If you are, you may be wondering how an agent will help you accomplish your goal. In this post, I wrote about all of the ways that an agent can help a buyer. 

Aug – Closing Costs to Consider When Buying Edmonton South Real Estate

Unfortunately, when you purchase a home, it’s not just the house you have to pay for—there are an assortment of closing costs that must be paid before the home is officially yours. To help you out, I created a list of typical closing costs associated with buying Edmonton South real estate. 

Sept – Real Estate in Edmonton: Pros and Cons of a Cashback Mortgage

Many Canadians have been opting for cashback mortgages to aid in the purchase of real estate in Edmonton. In this article, I discussed the pros and cons of a cashback mortgage. 

Oct – 6 Reasons to Buy a Condo in Edmonton

Living in a condo comes with a variety of benefits. Many of which, most homeowners aren’t aware of. In this blog post, I wrote about six different reasons that you should consider investing in a condo in Edmonton. 

Nov – A Buyer’s Guide to Edmonton Condos for Sale!

Buying a condo is very different from buying a single-family home. To help you out, I compiled a list of tips that you can refer to as you work towards buying your first condo!

Contact me Today!

Houses 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 2024. 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!

sherwood park homes for sale

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. 

condos with pools edmonton

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.