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affordable homes for sale under 300k in edmonton alberta canada

How to Find Edmonton Houses for Sale Under $300 000?

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Finding a house in Canada that suits your budget can be a challenge. With the national average home price sitting at $669,630 many homebuyers face difficulties finding affordable options. This is especially true for real estate in major cities like Vancouver and Toronto. By contrast, Edmonton still remains relatively affordable with the benchmark price sitting at $399,400. For those looking to downsize or enter the market for the first time, these conditions present great opportunities. In this article, we’ll highlight how you can find Edmonton houses for sale under $300,000. Follow along below to discover how you can achieve your year-end real estate goals!

How Can a REALTOR® Help You Find an Affordable Home?

If you are looking to find an affordable home, hiring an Edmonton REALTOR® can be a smart move. Real estate agents are skilled negotiators who can increase your chances of securing a home in your price range.  Knowing when to make counteroffers and how to use leverage are crucial negotiation skills that not every homebuyer has. To be an effective real estate negotiator you must know the market inside and out. This is especially true if you’re negotiating against the seller’s real estate agent. For these reasons, having a REALTOR® on your side to negotiate deals is critical in finding a property within your budget. 

In addition to their negotiating skills, REALTORS® also have contacts with several people in the industry. These connections can range from developers and potential sellers to other brokers in the city. Having a strong rolodex of contacts is helpful when you’re searching for a home with a strict budget. A well-connected REALTOR® could have access to off-market listings or pre-sale homes that may be priced lower since they haven’t hit the public yet. Access to these opportunities can make a difference in your ability to score a home in your price range.  

Beyond these factors, real estate agents have access to the MLS® (Multiple Listing Service).  The MLS® is a comprehensive database of properties, which includes listings that may not be as widely available to the public. This access can give you the upper hand in finding potential homes that meet your budget before other buyers are aware they exist. Another advantage of using the MLS® is that your REALTOR® will get real-time updates on new listings, price updates, and properties that have returned to the market. This ensures that no opportunity passes you by. 

Tips for Finding Edmonton Houses for Sale Under $300 000

affordable homes for sale in edmonton

Besides working with a REALTOR®, you can make the task of finding Edmonton houses for sale under $300,000 easier by focusing on a few key details. The first is to consider alternative housing options like townhomes and condos. These housing types tend to sell for less than single-family properties due to their smaller size. However, as a trade-off for their size, townhomes and condos are often situated in central, amenity-rich areas. Moreover, they are generally stratified which means you don’t need to worry about certain maintenance tasks as you would with a single-family home. 

Another way to increase your odds of finding an affordable home is to look for pre-construction deals. Pre-construction homes are properties that are available for purchase but have not yet been built. Developers will often list these units at a lower price since there is some risk in purchasing a home before it has been constructed. However, choosing this option means you need to be prepared for a timeline that may not allow for immediate move-in. Despite this, it can be a smart strategy to secure a turnkey home at a fraction of the cost.

Scoring a good deal sometimes means compromising on your wishes. For example, buyers who expand their search radius to include more rural properties are more likely to find a home within their budget. This is because houses on the outskirts of metropolitan areas are further away from key amenities. As a result, homeowners are forced to commute a bit longer than they otherwise would. If you’re okay with a little extra driving time, it might be worthwhile looking for properties outside of your ideal neighbourhood. 

Contact us Today for Help Finding a Home!

For more information about finding Edmonton houses for sale under $300 000, contact us today! We’d be happy to help you find a well-suited property in this quickly growing city. Arrange a meeting with one of our experienced REALTORS® and discover how to achieve your end-of-year real estate goals. Be sure to reach out to us with any questions about Edmonton real estate for sale and stay tuned to our blog for more home-related content. We look forward to working with you in the near future!

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Are Houses for Sale in Edmonton A Cheaper Alternative?

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If you’ve been following the news surrounding Canadian real estate since January of 2022 you’d know about the record high prices sweeping the nation. Home prices have reached their peak across every province in Canada. For some, these high prices are forcing families to relocate to their hometowns. Especially for those currently living in the Okanagan. If you are interested in learning more about how the cost of living is affecting homeowners in Canada, continue reading the article below.

Why are Okanagan Homeowners Moving Back to Houses for sale in Edmonton?

The Okanagan has seen incredible hikes in the price of real estate over the course of the last five months. The extraordinary cost of living is making it difficult for most out-of-province homeowners to afford their properties. In April of 2022, the benchmark price for a single-family home in the Central Okanagan climbed to a whopping $1.1 million. Last year, the average price for a home in the Okanagan sat around $829,000. Thus, indicating a 34% increase in cost. On the contrary, the average single-family home price in Edmonton was $510,988 in April of 2022. 

It is apparent that the cost of living in places like Edmonton is much more affordable than in the Okanagan. Residents who have lived in the Okanagan most of their lives are moving back to the prairies in order to make ends meet. Renters and homeowners alike are being priced out of their homes in the Okanagan. Despite having full-time jobs and living with family, many people claim that it is still too expensive to live in the Okanagan. New families are finding it especially hard to afford housing in the Okanagan. Living off of one salary is almost impossible given the rate of inflation. 

Residents who have chosen to move from the Okanagan to Edmonton and other surrounding areas in Alberta are much more comfortable with their finances. People living in Edmonton are able to afford spacious houses in place of their tiny Okanagan apartments. And, all of this is afforded at a lower price point. The one thing that former Okanagan citizens miss, is the scenery. 

Homes for sale in Edmonton, Calgary, Airdrie, and Cochrane all boast a low cost for a substantial property. Citizens of Alberta can purchase 3-bedroom houses for under $450,000. 

Why You Should Consider Making the Move to Edmonton:

There are several reasons why people in the Okanagan have made the decision to move to homes for sale in Edmonton. The number one reason is a lower cost of living. Everything from real estate to food is cheaper in Edmonton than in the Okanagan. Residents who may not have been able to afford a 2 bedroom apartment in the Okanagan will often be able to afford large, upscale homes in Edmonton. Furthermore, the average cost of groceries is about 200-400 dollars per month in Edmonton. However, this estimate can vary depending on brand, taste, and habits. 

Aside from a lower cost of living, the Edmonton job market has seen positive growth in the last little while. Large employers like the Alberta Health Services, the Government of Alberta and Stantec, provide hundreds of thousands of jobs to Edmonton citizens. Salaries average around $60,000 per year for your typical Edmonton citizen. 

Edmonton’s landscape provides individuals with plenty of wide-open spaces outdoors. For instance, the Elk Island National Park and Beaver Hills Dark Sky Preserve are both popular places to visit outside of the city. There are also plenty of hiking, biking and walking trails for residents to explore. Check out William Hawrelak Park or The Grandin to Groat Loop for an epic outdoor adventure! 

There are also plenty of restaurants, breweries and bars to choose from for a night out. As well as, nightclubs, theatres and festivals to keep you entertained throughout the year. 

Contact Us About Houses for Sale in Edmonton Now!

The real estate market is much more affordable in Edmonton. Make the move to houses for sale in Edmonton today for more financial freedom. If you have any questions or concerns about buying a property in Edmonton, contact us today. Don’t hesitate to reach out if you’re interested in buying a new home. Our team can put you in touch with the resources you need to get your real estate goals on track. We look forward to working with you in the near future!