Edmonton Real Estate Blog

What You Need to Know About LMILenders Mortgage Insurance (LMI) is a way for lenders to mitigate their risk if a homebuyer should default on their mortgage, but not every homeowner is required to have it in Canada. Learn more about when you need to worry about LMI and how it affects your monthly payments on your Bonnie Doon home.

Down Payments

The standard down payment on a home was always meant to be at least 20 percent of the final offer. So if you buy a $100,000 home, you should have at least $20,000 in cash to give to the seller. The more the homeowner puts down, the more equity they'll have in the home and the lower their monthly payment will be. Banks can be reasonably certain that the mortgage will be paid every month because the homeowner has a major stake in the

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How to Sell a Tenant-Occupied HomeIf you're a landlord or thinking about becoming one, it's important to know what you're getting into. When it comes to selling your property, it may not be as easy if there are tenants living within the home. Here are a few things to consider if you want to sell a property in Alberta with occupied by tenants.

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

Work With Your Tenant, Not Against Them

Check and see if your tenant is possibly interested in purchasing the home before putting it up on the open market. Even if they're currently enjoying a very affordable rental rate, they may love the home so much they're willing to get a mortgage in order to

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As you've probably noticed in previous blog posts we've mentioned how much value Edmonton offers property investors. This is due in no small part to the booming economy of the province, the industrial and commercial diversification of the city and of course our highly educated workforce. So for a change of pace in terms of talking about all the logical things that Edmonton can offer you we wanted to take a few "fantasy" moments here and look at the most expensive properties in the city, without getting into specific details though.

$15,000,000
This particular property is located on Whitemud Road and is based on 7 acres of land with river access and is a little over 30-years old. With a price tag this size you'd expect to get a lot in terms of

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How Can a Deck Improve a Home's Resale Value?Installing a deck can provide extra living space for the home, a comfortable outdoor entertaining space and a necessary update to the property's curb appeal. Many homeowners prefer to consider the return on investment for home improvement projects, as a way to ensure that they will get more than personal contentment from the result. These aspects of the process help people understand how best to approach ROI or resale value from installing a deck.

Considering Resale Value

Experts estimate that the resale value of a deck approximately 18 square meters is about 70-80 percent. This means that homeowners can expect to recoup about two-thirds or more of the price they pay in a higher home value. This is especially important when selling a home.

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5 Things to Know About Home Buying ContingenciesBuying a home usually involves a certain number of rules that buyers and sellers intend to follow, and contingencies are an important part. With a better understanding of the types of contingencies they might need, and how contingencies work for a home sale, buyers can be more prepared to make an offer.

What Are Home Buying Contingencies?

As a complicated and costly purchase, buying a home requires a great deal of careful consideration. Buyers may not always know if a home is going to be a good investment for them when they first see it. They may have other limitations that could slow down the buying process. Buyers often need some basic protections while they make sure that everything is in order with the home and the way they plan to pay for

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How to Prepare to Show Your HomeWhen the time comes to sell your property, home shows are a great way to show off your property and make connections with buyers. Preparing your home for the event can help ensure that your home show is a productive use of everyone's time. Staging your home, boosting curb appeal and making other preparations can help ensure that buyers will see the best in your house.

Make A Book

What do you love about your house? Your neighbourhood? The town where you live? When visitors come to your home, you probably won't be there answer questions and point out the small things that make your home a special place to live. Making a book listing local attractions, convenient pointers and your home's special features can help make your property more appealing to

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How to Sell Your Vacation HomeCanadian owners of a second home or vacation home can use guidance on selling the property. Aside from Canadian tax regulations, there are a number of considerations that can make selling a vacation home more challenging then selling a primary residence. Prior to getting a home ready for sale, learn more about where to effort in order to make selling a home an easier and more profitable process.

Take time to learn about specific concerns when selling a vacation property in Canada to avoid potential headaches and save money in the long-run.

Check for Restrictions

Canadian homeowners of condominiums or other homes in communities may need to check for any restrictions prior to listing a vacation home for sale. Stipulations may include selling a

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How to Pay Off Your Mortgage QuicklyAfter you buy your new house in Edmonton, it's time to set up a plan to pay the mortgage every month. Sometimes you need a little help with the best plan of attack. Here are a few tips for better mortgage repayment.

Pre-Approval

If you have not started shopping for a home yet, you want to receive a pre-approval first. The last thing you want to do is start shopping for a home, find one you love and find out you can't get the mortgage you need to purchase the home. Pre-approval will help you understand what you can afford and make it much easier to start shopping.

Bi-Weekly Payments

Most mortgages are set up with monthly a payment, which means you will pay 12 times per year. However, if you pay half your mortgage payment on a bi-weekly

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3 Hidden Home Dangers and How to Eradicate ThemHidden problems can present a number of risk factors to families, and they can quietly lurk in the most unexpected places around the home. Here are 3 common home dangers to be on the lookout for and ways to solve any issues encountered during such inspections.

Musty Mould and Mildew

Moisture-prone spaces with poor ventilation like bathrooms and basements create ideal havens for issues like mildew and mould. While mildew is unsightly and smelly, it's not nearly as dangerous to one's health as the presence of mould can be. Mould is known to cause chronic respiratory diseases, lung infections, eye irritation, sinus congestion and exacerbate allergies in humans and animals.

If mould is detected, eradication and removal is necessary immediately. To

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What Is a DTI Ratio in Home Buying?There are several things a lender will look at when a potential home buyer is trying to get a mortgage to buy a home. Pne of those is the tdebt-to-income (DTI) ratio. This refers to how much debt a homeowner has in relation to their total income. The equation takes into account far more than just the purchase price of the home and the buyer's monthly wages though. Once a lender has this number, they'll factor it into their decision of whether to approve a loan application. See how to calculate DTI to get a better idea of the odds of approval.

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

How to Calculate DTI Ratio

Hopeful homebuyers need to first list

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