The Average Starter Home Price in the Edmonton Area
In Edmonton, the average price of a single-family home is $450,306. Townhouses rose by 31% year over year, to an average price of $361,827.
Once you’ve decided to purchase a brand-new home, the first thing you’ll need to do is narrow down your options. But where do you start? Which homes and neighbourhoods will give you the most for your hard-earned first-home dollars? What else do you need to take into consideration when it comes to affording your first new home?
We’re here to help!
Here’s what you’ll need to know when it comes to choosing a new starter home in the Edmonton area at a price you can afford.
What’s The Best Community For You?
The average starter home price will vary depending on where you want to live in and around the city. For example, the amount you’ll pay for a single-family home in a bedroom community like Fort Saskatchewan (where the average is around $377k) or Stony Plain (where you’re looking at around $363k) will be less than what you’d pay in the urban centres of Edmonton.
Within the city, there are affordable starter home options in all product lines, including townhomes, duplex homes, laned homes, and front attached garage homes.
Take a look online at starting prices for different homes in different areas. As you search, consider what’s realistic for you. A small commute from a bedroom community like Spruce Grove (where average house prices are around $413k) could translate into a lot of savings and be a great place to buy your first home.
If being closer to work or other Edmonton-specific amenities is more important, choosing a townhouse or duplex in a community like Secord Heights may be the best choice.
What Kinds of Amenities Do You Need?
There are certain amenities you should expect in a new community and being within walking distance will add a lot of value to both your home and your lifestyle. For this reason, you should think about which amenities are most important to you.
The best part about choosing a new community is they generally have access to common amenities without the added cost. In fact, as new amenities are developed the value of your home is likely to increase well beyond the cost of purchase.
What Home Upgrades Suit Your Lifestyle?
Purchasing a brand new home means you’ll have the choice between standard or upgraded features. Generally, upgrading means selecting higher-end finishes and features; this is appealing to many homebuyers because they may love the homes in the area but are looking for something a little extra.
Certain builders (like Sterling Homes!) have better buying positions with suppliers, allowing them to pass on savings on high-end features and upgrades to the home buyer. Our DesignQ design centre allows you to choose from a huge range of features and finishes for your brand-new home, and allows you to pick from a selection of professionally-designed colour boards for decorating.
Evolve Models Are Ideal Starter Homes
If you’re looking for your ideal starter home at a great price, consider taking a look at our Evolve line of home models. By streamlining our whole construction process, we can efficiently produce a line of homes that’s not only high-quality but also affordable – you can build a brand-new home in a great new community starting at less than $300,000!
We have a wide selection of home models available in this line, including the Renew and Revive, spacious duplex homes that are great for young families, downsizers or multigenerational families, the Reveal townhome, or the Sansa, a single-family home.
Evolve homes are available in a variety of communities (especially newer ones), so if you have a favourite neighbourhood in mind be sure to check and see which models are available. Alternatively, you could contact one of our Area Managers to help you get on the right track.
Whether you choose to live in Edmonton or one of its surrounding communities, you have a huge variety of options available to you. Now that you know the basics of what can affect the average starter home price in the city, you’ll be well on your way to finding the first home of your dreams!
Originally posted August 1, 2017, updated December 2, 2021
About the Author:
At Sterling Homes, our mission is to provide the opportunity for affordable homeownership without compromise. Over the last 70 years, Sterling Edmonton has quickly become one of Edmonton’s most popular builders. We bring more than seven decades worth of exceptional customer service, superior design and unparalleled craftsmanship to the greater Edmonton area. As a member of the Qualico Group, Sterling Homes focuses on greater Edmonton’s finest family communities, while being able to offer some of the region’s most family friendly prices thanks to volume purchasing power for materials, trades and land. This has not only made Sterling one of Edmonton’s bestselling, move-up builders, but also one of the industry’s most respected home providers.
Learn more about:Sterling Homes - Home Builder in Edmonton