The Canadian Real Estate Association is predicting an increase in home sales in Alberta for 2017. Stability in the price of oil and a rise in hiring has helped Calgarians feel more confident about the housing market. Despite the doom and gloom sentiments experienced in our province in recent months, real estate sales in Calgary only dropped about 5% last year and sales are now on the way back up.
Alberta is one of only 3 areas in Canada set to see an increase in home sales for 2017. Sales are predicted to increase in Alberta by 3.5% in 2017 which is the highest increase in any province. With a typical increase in demand for housing in the spring market, we can predict a general price increase. So, if you are considering purchasing a home, you can take advantage of this knowledge by purchasing soon.
With the market flooded with choices, it can be challenging to decide where to buy a home. We recommend starting the home buying process by finding a neighborhood you love. Here are our top tips on what to look for in a neighbourhood when house hunting.
What amenities does your neighbourhood offer? Does the neighbourhood have nearby grocery stores, shops or restaurants? These amenities can make a neighbourhood more attractive to buyers and more convenient for you.
If you have kids, this may be a high-priority item on your list. If you don’t have children, consider the affect proximity of schools may have on the resale value of your home. A home in a neighbourhood with high ranking schools may hold a greater resale value.
How far is the neighbourhood from where you work? What options are there for travel? If you don’t drive, consider transit stops, bus routes, proximity to c-train stations. If you do drive, consider parking availability, nearby highways, and additional fuel costs depending on the distance to work.
If you are looking for a quiet neighbourhood, check if there are any nearby major roadways or if there is contruction planned in the area. You also may want to look for nearby industrial businesses that could be noisy.
What are the people like in your new neighbourhood? Look around to see if the area has young families or retirees. Your real estate agent can help you with demographic data on specific neighbourhoods.
Whatever neighbourhood you decide to purchase a home in, Advanced Mortgage and Lending Solutions can help you along the way. Advanced MLS has a team of mortgage experts who offer free advice on how to reach your mortgage (and neighbourhood) goals. Check out our site at www.advancedmls.ca to send us a quick note or give us a call at (403) 466-6654.
Advanced MLS – We will help you make cents of your mortgage.