Alberta REAL ESTATE
Major Alberta Cities
Airdrie384Beaumont125Bonnyville Town101Calgary6,405Camrose128Canmore175Chestermere133Cochrane229Cold Lake162County Of291
Edmonton6,633Fort Mcmurray676Fort Saskatchewan213Grande Prairie638Lac La Biche95Lacombe111Leduc220Lethbridge649Lloydminster157M.D. Of121
Medicine Hat358Okotoks132Peace River104Red Deer639Rural Bonnyville M.D.100Rural Foothills County151Rural Lac Ste. Anne County166Rural Parkland County234Rural Red Deer County108Rural Rocky View County252
Other Alberta Cities
Raymond24Red Earth Creek6Redcliff21Redwater30Rimbey24Rocky Mountain House83Rural Athabasca County56Rural Barrhead County20Rural Beaver County32Rural Big Lakes County11
Rural Brazeau County38Rural Camrose County40Rural Cardston County8Rural Clear Hills County6Rural Clearwater County40Rural Cypress County40Rural Flagstaff County17Rural Kneehill County9Rural Lacombe County49Rural Lamont County15
Rural Leduc County75Rural Lethbridge County17Rural Mackenzie County18Rural Mountain View County62Rural Northern Sunrise County8Rural Ponoka County61Rural Saddle Hills County12Rural Smoky Lake County11Rural St. Paul County34Rural Thorhild County19
About Alberta Real Estate
When you think about Alberta, do you envision a province that encompasses a wealth of vast forests, prairies, hundreds of lakes, mountains, desert badlands, multiple national parks, and natural waterfalls? If you do, it is no wonder why you are considering moving to Alberta! This province has limitless opportunities with a sound economy, a rich real estate collection, and countless options for adventures! Armed with major cities (Edmonton & Calgary being the largest) and being surrounded by wildlife and nature, it is no surprise that home buyers do not need much convincing to invest in real estate in this western province. Alberta is the third largest oil reserve in the world (coal & natural gas), as well as being a frontrunner for other industries such as hi-tech & agriculture, not to mention tourism... plenty of opportunities for job seekers and entrepreneurs alike. Kids enjoy the exploration of the great outdoors that Alberta offers during all four seasons (not to mention checking out the largest & complete dinosaur skeletons collection in the world!). Albertans are friendly neighbors with a deep sense of community, which is ideal for home buyers that are planning to start or already have children. Foodies love the diversity of cuisines in Alberta, and the arts & culture scene are just as desirable!
First time home buyers can sometimes feel that the real estate market is more of a challenge than enjoyable, but a bit of additional knowledge can go a long way to changing that. You may have already been searching through the MLS listings (an Internet-based multiple listing service that describes homes & dwellings for sale) and wonder to yourself 'what is my next step'? You can figure out where your affordability level is for a new home by using the tools provided on banking & third party websites like an affordability calculator. A good next step is to decide if you will approach a major bank, a credit union, or a private lender about borrowing the money to buy a home if you do not have the funds you need saved. All lenders have separate expectations from their borrowers (as far as qualifications are concerned), they offer different interest rates and various terms and conditions of loaning out money to buy a home & property. Banks & credit unions tend to have stricter criteria but offer lower interest rates, whereas private lenders are a bit more lenient but have higher interest rates. There are many types of mortgages that your chosen lender will go over with you, but you will have guidance from your mortgage professional about which mortgage would suit you financially and keep pace with your future goals.
Alberta real estate is super-diverse because of all the internal climates that it supports and the range of cities vs. rural areas. Everything from small cabins tucked away in forests to private estate mansions to condominiums can be found here, as well as vacant lots for new constructions. With such a vast collection of real estate types, you can be sure to find the ideal home well within your budget & affordability comfort zone. Once you have secured a lender and you have gone through the preapproval process with your lender (you really need to know precisely how much you can borrow), it is then time to obtain the services of real estate professionals. In your arsenal, you should have a real estate agent or realtor (this professional works on your behalf with the seller) and a real estate lawyer (this professional will handle all the legal aspects of your home purchase). Between these two real estate professionals, you will be guided on every step of the home purchasing process and inform you of various scenarios such as if you need to hire an appraiser, explain closing costs, completion day, conditional offer if applicable, when to make a deposit with your lawyer, if there are any liens on the home, and much more.