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For anyone buying an Edmonton house for the first time, it can be a long and emotional process. You need to be reasonable and logical when it comes to buying an Edmonton house because emotions can take you to places you don’t want to go - to the land of unsound decisions!  

Thankfully! there are many opportunities available in Edmonton for first time home buyers.  Before you take advantage of all these opportunities, here are some things you can do to avoid mistakes when buying a home in Edmonton for the first time.

Educate Yourself

Education is so important in truly understanding the Edmonton home buying process.  You should learn about locations and specific neighbourhoods, home construction, mortgages, legal documentation, etc.   It could take you awhile to really educate yourself. And this is where having a Real Estate agent can really assist in this process. 

Don’t Over Extend Your Budget                                   

There is a good chance that a first time Edmonton home buyer isn’t fully aware of the costs of homeownership. After educating yourself with the Edmonton home buying options, the second step is to get a mortgage pre-approval. If you are not pre-approved then you may be looking for Edmonton homes in the wrong price range.

To know what you can truly afford, start by trying to calculate your expenses when you start living in your new Edmonton home - Gas, water, electricity, internet/tv, food, etc. Take also account savings, travelling, hobbies etc.  Your mortgage specialist will tell you what you can afford but they don't look at all the little extras that come with a particular lifestyle. 

Know Your Priorities

By making a list of priorities before you purchase an Edmonton property, the decision about what Edmonton home to buy can be made much easier. The same goes for when you are buying with your significant other. By understanding each other’s priorities, less complications will arise when the time comes to purchase.

Find the Right Agent

It is important to find the right agent because it will be additional stress if you hire the wrong one. Get an agent who you can trust, who you feel comfortable talking with and is always there to assist you in every step of the transaction.  Real Estate agents have access to so many different resources in the city in order to help you with your Edmonton home purchase.

Buy With Reason Not Emotions

Everyone struggles with their emotions in different situations and buying an Edmonton home is no exception. First time buyers can be blinded by the excitement and fear of the process. Offers may be rejected and negotiations can be complicated. This can lead to high stress. You still have to remain reasonable and not base your decisions on emotion. Again, this is where Real Estate agents can assist. But if you feel that you have truly found the perfect Edmonton, then it’s your decision at the end of the day.

If you are going to buy an Edmonton home for the first time, then do your share of work and prepare for the waves that you will likely need to ride at some point when you enter the Edmonton home buying process. But if you have educated yourself and put in the preparation, in the end you can expect smooth sailing!!

Come and follow the team on Twitter at @teamleadingedge. Make sure to subscribe to Team Leading Edge to get newsletters on the Edmonton Real Estate market.

Note: Remember, you can access all our available Homes For Sale in Edmonton through our Edmonton MLS Listings page.

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