Moving to Edmonton? Top Tips for Settling In and Shopping for a Mortgage
Kris Crawford
December 18, 2024
Are you thinking of making the move to Edmonton, Alberta? Whether you’re drawn by its affordable cost of living, vibrant arts scene, or proximity to nature, Edmonton is a fantastic place to call home. But let’s face it—moving to a new city comes with its challenges, and securing a mortgage can feel like a daunting part of the process.
As a local Edmonton mortgage broker, I’ve worked with countless new residents to help them find their footing—and the right mortgage. Here are a few practical tips to make your move smoother and ensure you get the best deal on your new home.
1. Get to Know Edmonton’s Neighborhoods
Edmonton is a city of neighborhoods, each with its own unique charm. Whether you’re into the trendy vibe of Old Strathcona, the family-friendly feel of Terwillegar, or the quieter, suburban pace of St. Albert, there’s a spot for everyone.
When choosing where to live, think about your priorities. Do you want to be close to schools? Work? Public transit? Spend some time exploring the city before you commit to a home. Knowing where you want to live will make your house-hunting process much easier—and help your mortgage broker find you a deal that fits your budget.
2. Understand Edmonton’s Real Estate Market
The real estate market in Edmonton is known for being more affordable than other major Canadian cities, but that doesn’t mean you shouldn’t be strategic.
In 2024, home prices in Edmonton are still relatively stable compared to places like Toronto or Vancouver. But as always, timing is everything. Working with a mortgage broker gives you an advantage because we keep a close eye on the market and can guide you through fluctuations to get the best possible rate.
3. Partner with a Mortgage Broker Early
Speaking of mortgage brokers (wink, wink), partnering with one early in the process is a game-changer.
Here’s why: A good mortgage broker works for you, not the banks. That means I shop around, compare rates, and help you navigate the fine print to find a mortgage that fits your financial goals. I also understand the unique challenges that come with moving to Edmonton, whether you’re a first-time homebuyer or relocating from another city.
Plus, mortgage brokers often have access to deals and rates that aren’t advertised to the public. So, before you start applying for loans or making offers, let’s chat—I can save you time, stress, and money.
4. Consider Pre-Approval
If you want to hit the ground running once you find your dream home, getting pre-approved for a mortgage is a must. A pre-approval not only gives you a clear picture of your budget but also shows sellers that you’re serious.
As a mortgage broker in Edmonton, I can walk you through the pre-approval process, making sure your application is strong and setting you up for success.
5. Plan for Edmonton’s Winters (and Budget Accordingly!)
It’s no secret—Edmonton winters can be intense. When you’re shopping for a home, consider how winter will impact your living expenses.
For example, homes with energy-efficient features like triple-pane windows or upgraded insulation can save you big on heating costs. And don’t forget about the little things, like budgeting for snow removal or winterizing your car.
Let’s Make Your Move to Edmonton a Breeze!
Moving to a new city is exciting, but it’s even better when you have the right support. Whether you’re still figuring out which neighborhood suits you best or you’re ready to shop for a mortgage, I’m here to help.
Let’s connect and chat about how we can make your Edmonton home-buying journey as smooth (and stress-free) as possible.
Ready to get started? Contact me today to find the right mortgage for your new Edmonton home!