Uncategorized • 22 March 2024

Renting in Edmonton? Use a REALTOR®

by Christina Reid

Renting in Edmonton? Use a REALTOR®
Navigating the rental market can be a daunting task, especially in competitive housing markets. Using a Realtor to find your next rental property can offer significant advantages. Here are some key benefits of enlisting the help of a real estate professional:
* Expert Guidance: A Realtor can provide invaluable insights into the local market, helping you find properties that meet your specific needs and budget. They are knowledgeable about the areas you’re interested in and can advise on the pros and cons of different neighbourhoods .
* Access to More Listings: Realtors have access to the most comprehensive and up-to-date rental listings, some of which may not be advertised publicly. This access can give you a competitive edge in finding your ideal home .
* Time Savings: Searching for the right rental can be time-consuming. A Realtor can save you time by handling the search process, scheduling viewings, and filtering out properties that don’t meet your criteria .
* Negotiation Skills: Realtors are experienced negotiators. They can help you secure a better deal, ensuring you pay a fair price for your rental property .
* Lease Agreement Assistance: Understanding the terms of a lease agreement can be challenging. Your Realtor can walk you through the leasing agreement, explaining the terms and conditions to ensure you know exactly what you’re agreeing to .
* Avoid Scams: With a Realtor, the risk of falling for a scam is significantly reduced. They ensure the legitimacy of listings and landlords, protecting you from potential fraud .
In conclusion, while it’s possible to find a rental on your own, the benefits of using a Realtor can make the process smoother, faster, and more secure.
🌐 Sources
* realtor.ca – The Benefits of Using a REALTOR® When Looking to Rent
* zoocasa.com – Using a Realtor to Help You Find a Rental in a Competitive
* rentspree.com – How Realtors Can Help You Find Rentals
* realtor.ca – The Ultimate Guide to Renting: Your Questions Answered
* thecontentpanel.com – Our Ultimate List Of 135 Real Estate Blog Topic Ideas
* realestate.usnews.com – Should You Use a Real Estate Agent to Find A Rental?

BUILT GREEN® Homes

by Christina Reid

What is BUILT GREEN®?

In Alberta, the Built Green® certification stands out as a voluntary program aimed at promoting environmentally friendly home construction. This program sets a comprehensive range of building standards, focusing on creating homes that are not only sustainable but also provide healthier living environments for residents. The certification touches on various aspects of construction, from the choice of materials and methods to energy efficiency and resource conservation.

For builders, embracing Built Green® standards means committing to practices that go beyond the conventional building requirements, focusing on sustainability and environmental stewardship. Homes certified under this program integrate features that are designed to reduce their environmental impact significantly. These include energy-efficient appliances, water-saving fixtures, and materials that are sourced responsibly. Additionally, Built Green® homes incorporate the EnerGuide label through Natural Resources Canada, ensuring that they meet specific energy performance criteria.

The benefits of Built Green® certification are manifold, offering advantages not just for the environment but also for homeowners. These homes are designed to provide a healthier living space, potentially lower utility bills due to their energy efficiency, and even rebates that acknowledge their reduced environmental footprint. For those in Alberta looking to build or purchase a new home, considering a Built Green® certified property could mean investing in a future that values sustainability, comfort, and environmental responsibility.

Why Build BUILT GREEN®?

Building Built Green is increasingly important for several compelling reasons. Firstly, it reassures homeowners and buyers about the quality and sustainability of their investment, highlighting a commitment to energy efficiency, healthier living environments, responsible building practices, and more. Built Green Canada offers practical and affordable methods for builders, renovators, restorers, and developers to achieve continuous improvements in their projects, fostering a culture of sustainability within the construction industry .

Moreover, homeowners are becoming more environmentally conscious, prioritizing green initiatives in their renovations and new builds to reduce water consumption, annual heating costs, and their overall carbon footprint . Built Green Canada is a national, non-profit organization driven by the industry to support builders interested in responsible sustainability practices, ensuring that green building becomes a standard rather than an exception.

The program is voluntary, setting building standards to create environmentally friendly homes that offer long-term benefits to both the environment and the homeowners through energy savings and improved indoor air quality . It also promotes a network of home builders committed to producing smarter, more responsible, and healthier homes for future generations.

BUILT GREEN® Rebates

Built Green Canada offers enticing rebates and financial incentives to promote sustainable housing. For homeowners and buyers interested in environmentally responsible living, these rebates can make a significant difference. Single-family new homes that achieve BUILT GREEN® certification at the Gold, Platinum, and Net Zero+ levels are eligible for a partial mortgage loan insurance premium refund of 25% . This initiative is available in select markets across the country and underscores the financial benefits of investing in energy-efficient, sustainable homes .

Moreover, specific communities and local governments have recognized the value of sustainable building practices by offering additional rebates. For example, the City of Lethbridge offers a rebate of $2,500 for purchasing a BUILT GREEN® Silver certified home and $3,500 for a Gold certified home . These incentives not only lower the initial financial barriers for homeowners but also encourage builders and developers to adopt sustainable practices.

In addition to these rebates, the Canada Greener Homes Grant provides access to rebates for a wide range of equipment and retrofitting measures aimed at improving home energy efficiency . These programs collectively aim to foster a more sustainable building sector, reduce environmental impacts, and offer financial benefits to homeowners who prioritize green building standards.

Requirements for BUILT GREEN®

The requirements for achieving Built Green® certification focus on various sustainable building practices and are categorized into different tiers, including Bronze, Silver, Gold, and Platinum. Specifically, for reaching the Gold tier, a project must accumulate a minimum of 35 points. These points can be earned through a variety of measures that contribute to the sustainability and energy efficiency of the home. Areas where points can be earned include energy efficiency, materials and methods used in construction, indoor air quality, and the overall environmental impact of the build. The program emphasizes the importance of reducing a home’s energy consumption, using sustainable building materials, and minimizing the environmental footprint of construction activities.

Built Green® also acknowledges projects that achieve net-zero energy status (where the home produces as much energy as it consumes) by offering recognition for this significant achievement, particularly for projects at the Gold or Platinum levels . This certification is not only a testament to the home’s sustainable design and construction but also offers proven savings in resources, water, energy, and money over time.

The movement towards built green homes represents a significant and essential step towards sustainable living and environmental responsibility. As demonstrated by various studies and initiatives, the advantages of green building extend far beyond energy savings and reduced environmental impact. Green homes contribute to more sustainable economies by lowering energy consumption, reducing costs, and even creating jobs in green construction fields . They embody a long-term dedication to the principles of natural and sustainable living, offering countless benefits that include but are not limited to health, environmental, and financial advantages.

🌐 Sources

Edmonton New Construction Info • 17 March 2024

Net Zero Homes and New Construction

by Christina Reid

Net Zero Homes

Net zero homes are energy efficient buildings designed to produce as much energy as they consume over the course of a year.

The Evolution of Residential Construction Towards Sustainability

The construction industry is undergoing a significant transformation, driven by a collective realization of the urgent need for sustainable and environmentally friendly practices. This evolution is not just a trend but a response to the growing concerns about climate change, energy consumption, and environmental degradation. The shift towards sustainability in residential construction is marked by the adoption of innovative technologies, materials, and methodologies that aim to minimize environmental impact while enhancing energy efficiency and inhabitant comfort.

A pivotal element in this shift is the emergence and adoption of net-zero and net-zero ready homes. Net-zero homes are designed and built to produce as much energy as they consume over the course of a year. This is achieved through a combination of energy-efficient construction practices and the use of renewable energy sources, typically solar panels. Net-zero ready homes are constructed to the same high standards of energy efficiency but do not have the renewable energy systems installed from the outset. However, they are “ready” for such systems to be added, making the transition to a net-zero energy status straightforward in the future.

This move towards net-zero and net-zero ready homes signifies a major step in the industry’s commitment to reducing carbon footprints and advancing towards a more sustainable future. These homes not only offer a way to combat climate change but also provide homeowners with lower energy bills, increased comfort, and a sense of contributing to a greater good. As the industry continues to innovate and push the boundaries of what is possible in sustainable construction, net-zero and net-zero ready homes stand at the forefront of this evolution, embodying the principles of sustainability and environmental stewardship.

The Benefits of Investing in a Net Zero Home

Investing in a Net Zero Home brings several significant benefits, emphasizing not just immediate advantages but also long-term impacts on both the homeowner and the environment.

• Reduced Energy Bills: Net Zero Homes are designed to be highly energy-efficient, utilizing renewable energy systems such as solar panels to produce as much energy as they consume. This drastically reduces, if not entirely eliminates, the energy bills that homeowners need to pay.

• Increased Comfort: Better insulation and air sealing are hallmarks of Net Zero Homes. These features help maintain a consistent indoor temperature, reducing the need for heating and cooling. This not only contributes to reduced energy consumption but also significantly increases the comfort level within the home.

• Enhanced Indoor Air Quality: The same measures that improve a home’s energy efficiency, such as tight air sealing, also help to improve indoor air quality. By reducing the amount of outside air that can infiltrate the home, these homes also reduce the ingress of pollutants, leading to a healthier living environment.

• Smaller Carbon Footprint: By relying on renewable energy sources and operating more efficiently, Net Zero Homes have a much smaller carbon footprint compared to traditional homes. This contributes to the global effort of reducing greenhouse gas emissions and combating climate change.

While the initial costs of constructing or retrofitting a home to meet Net Zero standards can be higher than those of a conventional home, these expenses are offset by the long-term savings on energy bills. Additionally, the environmental benefits of a reduced carbon footprint and the personal benefits of living in a healthier, more comfortable home contribute to the overall value of investing in a Net Zero Home. The upfront investment supports not just a more sustainable and energy-efficient lifestyle but also promises significant economic returns over the lifespan of the home.

The Market for Net Zero Homes

The market for Net Zero Homes is witnessing a significant upsurge, driven by a growing consumer demand for sustainable living options. This shift reflects a broader societal movement towards environmental consciousness and a desire to reduce personal carbon footprints. As awareness of climate change and its impacts grows, homebuyers are increasingly prioritizing energy efficiency and sustainability in their housing choices.

Current market trends indicate that Net Zero Homes are not just a niche segment but are becoming a mainstream preference. This is due in part to their ability to significantly reduce energy bills through efficient design and renewable energy sources, such as solar panels. Additionally, these homes offer improved indoor air quality and comfort, making them attractive to a wide range of buyers.

The influence of this demand is palpable in the real estate market, with a noticeable increase in the value and desirability of Net Zero Homes. Studies and market analyses suggest that homes with green certifications, which include Net Zero standards, command higher resale values compared to traditional homes. This premium reflects not only the reduced operational costs associated with these homes but also the growing consumer preference for sustainable living spaces.

Looking to the future, the trend towards Net Zero Homes is expected to continue, if not accelerate. This is supported by advancements in technology, making sustainable features more accessible and affordable, and by evolving consumer attitudes towards environmental stewardship. Furthermore, policy initiatives and incentives aimed at reducing carbon emissions in the residential sector are likely to further bolster the market for Net Zero Homes.

The increasing consumer demand for sustainable living options is thus shaping the real estate market, making Net Zero Homes a pivotal element in the evolution towards more sustainable and resilient communities.

The Role of Real Estate Agents in Promoting Net Zero Homes

The role of real estate agents is pivotal in promoting Net Zero Homes, as their expertise and guidance can significantly influence homebuyers’ decisions. By being knowledgeable about net-zero homes, agents can effectively communicate the myriad benefits these homes offer, thus fostering a market that values sustainability alongside comfort and design.

Educating clients on the benefits of net-zero homes is essential. Real estate agents must be able to articulate the long-term energy savings these homes provide, thanks to their energy-efficient construction and renewable energy sources. Furthermore, they should highlight the environmental benefits, such as reduced carbon emissions and a smaller ecological footprint, which resonate with eco-conscious buyers.

Marketing strategies for net-zero homes should leverage these unique selling points. Agents can use various channels, including social media, real estate listings, and open house events, to showcase the advanced features of net-zero homes. Emphasizing the potential for increased property value is also crucial; as demand for sustainable living options grows, net-zero homes are likely to appreciate faster than traditional homes. By positioning these homes as not only environmentally friendly but also as smart financial investments, real estate agents can appeal to a broad spectrum of buyers.

In summary, real estate agents play a crucial role in bridging the gap between homebuyers and net-zero homes, using their expertise to educate and persuade the market about the long-term benefits and value of sustainable living options.

The Future of Net Zero Homes in Real Estate

The future of net-zero homes in real estate looks exceptionally promising, driven by a combination of technological advancements and shifting consumer preferences towards sustainable living. As awareness about climate change and its impacts grows, so does the demand for homes that not only reduce energy costs but also minimize environmental footprints. Net-zero homes, which are designed to produce as much energy as they consume through renewable sources, stand at the forefront of this trend.

Advancements in technology, particularly in renewable energy sources like solar panels and wind turbines, along with improvements in insulation and building materials, are making net-zero homes increasingly attainable and affordable. These advancements are expected to lower the initial costs associated with building net-zero homes, thereby making them more accessible to a broader segment of the population.

Consumer demand for sustainable living options continues to rise, further propelling the net-zero home movement. As more people become aware of the benefits of net-zero homes—not just in terms of energy savings and environmental impact, but also regarding the enhanced comfort and air quality these homes offer—the demand is likely to grow even further.

Given these trends, there is a strong potential for net-zero homes to become the standard in new home construction. This shift will not only transform the real estate market but also significantly contribute to the global efforts in combating climate change by reducing the residential sector’s carbon footprint. As policies and regulations evolve to support sustainable construction practices, net-zero homes may well become the norm, rather than the exception, in the construction and real estate markets.

Considering buying a Net Zero Home? Click here to check out new construction net zero homes in Blatchford, Edmonton.

🌐 Sources

• CHBA – Net Zero Homes

• LinkedIn – Eco Impact of Net-Zero Homes

• Draw Designs – Why Net-Zero Energy Homes Are The Future: A Deep Dive

• Alair Homes Burnaby – Why Net-Zero Homes Are the Future of Real Estate

• True North Living – Net Zero Homes: Bridging the Gap Between Sustainability and Comfort

• Next Home – Edmonton leads the way in Alberta’s net zero homes revolution

• MDPI – Understanding the Barriers to Adopting Net Zero Energy

• Solar Homes Inc – Net Zero Benefits

• UCA Helps Alberta – Tips to Save Money on Utility Bills

• Energy Star – Why Seal and Insulate?

• Terra View – Hidden Benefits of Owning a Net Zero/Net Zero Ready Home

• Energy Rates Canada – How to Keep Your Alberta Energy Bills Under Control in 2024

• Energy.gov – Air Sealing Your Home

7 March 2024

Top Mistakes When Buying A New Construction Home

by Christina Reid

Top Mistakes When Buying A New Construction Home

Buying a new construction home for the first time is an exciting journey that comes with its unique set of challenges. Here are the most common mistakes first-time homebuyers make when purchasing a new construction home, compiled from various expert sources, and tips on how to avoid them:

Not Getting Pre-Approved for a Mortgage

Mortgage pre-approval is an essential step where lenders evaluate your financial situation to determine how much they are willing to lend you. It is not a guarantee, but a statement of how much you’re eligible to borrow. Without pre-approval, you risk falling in love with homes out of your price range, and it could ultimately lead to disappointment if you’re unable to secure financing.

Not Anticipating Hidden Costs:

Beyond the mortgage, remember to account for taxes, insurance, maintenance, and other homeownership expenses. [2].

Many Edmonton builders will require you to put down a refundable landscaping deposit to complete your landscaping within 1 year of possession. The landscaping deposit varies by neighbourhood and typically between $1,000-$5,000. This deposit is refunded once you have completed the landscaping to neighbourhood requirements.

Be prepared for other additional costs such as blinds, security systems, fence, and decorating.

Failing to Prioritize:

Personalize your search to fit lifestyle and financial constraints [3]. Buying a new home you can over pay on soft upgrades such finishings, consider that you can’t make the space larger in the future. Sometimes there are options to widen the garage or add square footage, which might better accommodate your family’s growth. A light fixture can always be changed out in the future for minimal cost comparatively.

Ignoring Long-Term Needs:

Consider your future in the home, not just your immediate requirements. Think about family expansion, workspaces, and resale value [4].

Skipping the Home Inspection:

Always opt for a professional inspection to avoid unexpected repair costs down the line. [5].

Not Shopping Around for Mortgages:

Explore different lenders to find the best rates and terms that suit your financial situation [6]. Does a fixed rate mortgage make more sense than a variable? Do you work with a completion mortgage builder or a builder who does draw mortgages?

Overlooking the Importance of a Good Location

Overlooking the importance of a good location when buying real estate can be a significant oversight. Location dictates desirability and, therefore, the demand for the property, which directly influences its value [2]. A prime location can ensure consistent property value growth, making it a safer investment in the long run.

Access to amenities and transportation, proximity to schools, healthcare, shopping, and entertainment can dramatically impact your quality of life and the ease of renting or selling the property in the future. When buying a new construction home you need to factor in future potential. Economic development, community plans, and potential changes in infrastructure can significantly affect a property’s future value and livability.

Rushing the Buying Process

Rushing the buying process when purchasing a home can lead to several problems. It’s essential to take adequate time to research and understand the intricacies involved in buying a property to avoid future regrets [5]. You risk overlooking better financing options, which could save money in the long term [1]. Compromise on essential features or locations due to a lack of comparative market analysis of other new home builders [3]. Fail to negotiate the best deal, possibly due to a lack of awareness of market conditions or by not utilizing a REALTOR®[4]. Experience buyer’s remorse if the decision was made without due consideration of your long-term needs and financial stability [6].

Choosing the Right Real Estate Agent:

An experienced agent can make the new home buying process smoother. Ensure your agent has a solid track record and understands your needs [1]. New construction homes are built on different specifications, make sure you have a REALTOR® who is knowledgeable in construction and the building process.

Avoiding these mistakes can lead to a more informed decision-making process and a smoother transition into homeownership. Take your time, do your research, and don’t hesitate to seek help from your REALTOR®.

🌐 Sources

• linkedin.com – 10 Common Mistakes First-Time Home Buyers Make and…

• moneysense.ca – Top 10 mistakes first time home buyers make

• jasper.ai – Real Estate Copywriting: How to Sell More Properties With…

• homebuyer.com – The Big List Of First-Time Home Buyer Mistakes

• pine.ca – The 10 mistakes to avoid as a first-time homebuyer

• rocketmortgage.com – 15 First-Time Home Buyer Mistakes

Fort Saskatchewan Home Sales Statistics • 5 March 2024

Fort Saskatchewan Real Estate Market Statistics- February 2024

by Christina Reid

Fort Saskatchewan Real Estate Market Statistics

Fort Saskatchewan Home Sale

Bar Graphs Below Are Interactive

Fort Saskatchewan MLS® Listings

There was a 23% increase in Fort Saskatchewan MLS® listings during February. 85 listings came on market, last February there was 69 new listings.

Fort Saskatchewan Average List Price

The average list price in Fort Saskatchewan was $492.4k up from $407.7k. This is an increase of 20.76%.

Fort Saskatchewan Home Sales

There was 61 homes were sold during the month. This is almost double to February 2023 where there was 35 homes sold.

Fort Saskatchewan Average Home Sale Price

The average sale price for a home in Fort Saskatchewan was $428.1k. This is a slight increase of 2.86% from last February.

Fort Saskatchewan Average Days on Market

Homes in Fort Saskatchewan were on market an average of 88 before sales.

City of Fort Saskatchewan Website

St. Albert Real Estate Market Stats • 5 March 2024

St. Albert Home Sales Statistics February 2024

by Christina Reid

St. Albert Real Estate Statistics

Bar Graphs Below Are Interactive

St. Albert New Listing Count

147 homes were added to MLS® in St. Albert during February 2024. LAst February only 118 homes came to market.

St. Albert Average List Price

The average list price of St. Albert homes is up 23.7% from last year. The average home price was $583.4k versus $471.7k last February.

St. Albert Home Sales

89 homes sold in February, this is an increase of 41% over same time last year.

St. Albert Average Cost of Home

The average price of a home in St. Albert this month was $525.6k, an increase of 26.4% over the $416k average price last February.

St. Albert Days on MLS®

St. ALbert homes were on maket an average of 82 days before selling.

St. Albert Website

Parkland County Real Estate Market Statistics • 5 March 2024

Rural Parkland County Acreage Sales Statistics February 2024

by Christina Reid

Rural Parkland County Acreage Sales

Below Graphs Are Interactive

Parkland County Acreage Listings

73 acreage listing came on to MLS® for Parkland County during February. Similar to last year Februarys 71 listings.

Parkland County Acreage Average List Price

The average list price of Parkland County acreages was $722.4k in February. This is a 9.3% increase over February 2023 listing price of $661.1k.

Parkland County Acreage Sales

36 Parkland County acreages sold in February. Last February saw 28 acreages sell.

Parkland County Acreage Average Sale Price

$583.3k was the average sales price for acreages in Parkland County. This is an $80k difference from last February when the average sales price was $503.5k.