By evaluating which neighborhoods you prefer, you can narrow your home search, allowing your Edmonton REALTOR® to more efficiently focus his attention on homes located in areas you see as desirable.
Your Edmonton real estate agent can also give you information to help you evaluate various neighborhoods. Depending on your family’s needs and preferences, some aspects will be more significant to you than others. Some characteristics you may want to consider include the following:
- School District
- Property Values
- Amount of Traffic
- Crime Rate
- Planned Future Developments
- Public Transportation Accessibility
- Closeness to Freeways
- Various Area Amenities
Budget-Friendly Neighborhood Search Strategies
If you’re a first-time homebuyer with a limited budget, you will want to employ some creativity in order to maximize your neighborhood search. In the long run, you will benefit by buying a home located in the best neighborhood possible, even if the home itself doesn’t quite match up to your “wish list”; by buying in a promising area, you’ll be more likely to sell your home for a good price, in a few years, enabling you to find an Edmonton home that more closely resembles your wish list in the end. In order to purchase a home in the most desirable location possible, you may want to consider one of the following possibilities:
- Up-and-Coming Neighborhoods
Areas likely to increase in popularity in years to come can often be found near neighborhoods that are consistently desirable. By finding out about highway extensions, new businesses, or community amenities, you can get a pretty good idea of areas that are expected to boom. Urban sprawl also plays a part in future home values, too, so you’re better off looking in neighborhoods that are farther from the heart of Edmonton.
- In-Demand Areas
By canvassing the area yourself and asking your Edmonton real estate agent about home sales, you can find out whether a particular neighborhood is in demand. Questions you might ask include these:
- Are there multiple offers being made on houses up for sale?
- Has the gap between the list price and the sale price been decreasing?
- Are there many “Sale Pending” or “Sold” signs in the area?
If the answers to those questions are mostly “yeses,” then you’ve found a promising area to buy your new home.
- Alternative Housing in Desirable Areas
Even if you’re ideally looking for a single-family home, in the long run, you’ll be better off buying into a co-op or a condo in a promising neighborhood than purchasing a house someplace where it’s unlikely to sell for a good price. In addition to finding traditional single-family homes for sale in Edmonton, your real estate professional can help you find condos for sale in Edmonton.