If you are deciding to purchase a brand new home, it’s time to narrow down your options. You already know you want to be in the Edmonton area, 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?
Here’s what you’ll need to think about when it comes to choosing a new home at a price you can afford.
Where Do You Want to Live?
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 or Stony Plain will be less than what you’d pay in the urban centres of Edmonton.
For instance, a new townhome in Langdale makes a great family home and starts at only $274,800! Another great option would be the Sanctuary Double Front Attached Garage Model in Secord Heights, starting at just $410,000.
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 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 your home and your lifestyle. For this reason, you have to think about what 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, the value of your home is likely to increase well beyond the cost of purchase.
Are You Considering Upgrades?
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 have better buying positions with suppliers, allowing them to pass on savings on high-end features and upgrades to the home buyer, like Sterling Homes.
Whether you choose to live directly within Edmonton or one of its surrounding communities, rest assured you have a variety of options available to you. Now that you know the basics on what might affect the average starter home price in the capital region, you’ll be well on your way to finding the new home of your dreams!