Melissa Fox

eXp Realty


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Buying Pre-construction: The Pros and Cons of Investing in Edmonton's Future Homes

Discover an, in depth guide on purchasing construction properties in Edmonton through our detailed blog. Delve into the benefits of customization, financial advantages, designs and the lively real est... ...more

Edmonton New Construction

April 01, 20243 min read

Buying Pre-construction: The Pros and Cons of Investing in Edmonton's Future Homes

Hi! I’m Melissa

Innovative, Client-Focused, and Always Ahead of the Curve.

Whether you're searching for your dream homeor seeking to maximize your property's value I'm your preimer choice. My approach combines local market insight with global trends, personalized service, and strategic marketing, ensuring unparalleled results.


"From the moment we listed my house, Melissa's marketing skills were evident. Within just six days, we had an offer on the table, and I couldn't believe how smoothly everything was progressing. Melissa's dedication to keeping me informed throughout the entire process was truly remarkable. Her communication skills are top-notch, and she always made herself available to answer my questions or address any concerns I had, no matter how big or small. - Gloria "

• Gloria | Edmonton

"Working with Melissa was an absolute pleasure and made our home buying experience truly exceptional. From the moment we met them we knew we were in good hands.

Her deep knowledge of the local market and extensive experience in the real estate industry were immediately evident. They took the time to understand our unique needs and preferences, and their expertise allowed us to find the perfect home that met all of our criteria."

• Dave | St.Albert

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Is it worth buying a house in Edmonton?

Sure thing. Edmonton has a mix of city vibes and tight knit community feel, making it a popular spot, for young professionals and families alike. The variety of neighborhoods ranging from the downtown area to suburbs offers a wide selection of housing choices. Moreover Edmontons strong economy and vibrant cultural landscape contribute to its charm as a sought after place, for living and real estate investment.

How much do you need to make to buy a house in Edmonton?

The amount of money required to purchase a home in Edmonton can vary depending on factors such, as the type of property its location and the current market situation. Its generally advised that your monthly housing expenses (including mortgage payments, property taxes and utilities) should not go over 32% of your income. Considering the housing costs, in Edmonton a rough estimate indicates that an annual household income of around $70,000 would be needed to afford a typical priced home. Nevertheless this number may change based on situations and the constantly evolving real estate environment.

How much down payment is needed to buy a house in Edmonton?

In Canada the minimum amount you need to put down for a home purchase depends on how the home costs. If the home is priced below $500,000 the down payment is 5%. For homes priced, between $500,000 and $999,999 you'd pay 5% on the $500,000. Then 10%, on the rest. When it comes to homes that're $1 million or more you'd have to make a payment of 20%. This means that in Edmonton, where housing prices vary greatly the required down payment could differ significantly based on the value of the property.

Are house prices dropping in Edmonton?

Urban areas such, as Edmonton experience changes in market trends influenced by conditions, interest rates and the balance of supply and demand. Despite price fluctuations the real estate market in Edmonton has demonstrated its ability to withstand challenges. To stay informed about the trends and projections seeking guidance from real time market analyses or a reputable real estate consultant is advisable, for current insights.

What are the disadvantages of living in Edmonton?

Edmonton has its perks. One downside could be its winter weather, which might be quite a change, for those used to milder climates. Moreover although the city boasts a developed public transport network the urban sprawl often makes owning a car of a must than a choice for certain residents, especially those, in the suburbs.

What is the real estate outlook for Edmonton in 2024?

The future of real estate markets is always uncertain. Edmontons market seems set for growth. Economic diversification, population increases and infrastructure developments all play a role, in shaping the real estate landscape. There is expected to be interest in commercial properties thanks to housing prices that remain relatively affordable compared to those, in other large Canadian cities.

Will Edmonton home prices go up?

Considering past patterns and current economic signals it seems plausible that the housing prices, in Edmonton could see an uptick. Elements like interest rates, a consistent flow of residents to the city and ongoing construction projects are expected to contribute to potential price hikes. However the pace of this increase may vary so prospective buyers and investors should stay up to date on the market conditions and predictions.

These insights strive to give a summary by combining details with your expertise. Staying informed about market trends and economic factors will help you provide up, to date guidance to your clients and audience.