Buying a home is a big decision, especially if you’re spending close to $1,000,000 on it. The Edmonton real estate market has been buzzing with activity lately. The city has witnessed an influx of a large number of move-up buyers, as many are hopping on to benefit from the low-interest rates and low property values. The trend is also reflected in luxury homes for sale in Edmonton. Recently, Edmonton’s luxury housing market is being fueled by move-up buyers. Interestingly, the average base price of a luxury dwelling in Edmonton is teetering around $1,000,000.
In today’s scenario, most buyers are deriving tremendous value at this price point, as a bulk of the homes are newer infill or old estates marvelously renovated with huge yards, massive lots, scenic surroundings, and beautiful landscaping in mature neighborhoods as well as in new development areas. The criteria of what homebuyers in Edmonton look for in a home has seen a shift recently, due to the COVID-19 pandemic and the resulting changes in lifestyles. We now live in a world where our homes have become our offices, gyms, clubs, and everything in between. Thus, modern home buyers are looking for yards, separate office spaces, and finished basements; and the market is responding quickly. More and more real estate listings are opening up that either offer these amenities or are being modified to include some of these.
According to experts, the housing market in Edmonton is ‘balanced’ currently, which makes it a good time to invest in a house. If you’re planning to purchase a luxury home in Edmonton, now is the right time to do so. A lot of Canadians are moving, creating a trend of relocation throughout the Canadian housing market. At a national level, experts predict a substantial housing price growth, as buyers continue to spur activity in many regions such as Edmonton. Nevertheless, a far-flung shortage of housing supply is expected, imposing challenges for buyers, further propelling the prices to surge. Thus, it is advisable to take advantage of the market conditions now and avoid price hikes in the near future.
Another benefit of parking your funds in a luxury home right comes from the investment point of view. As property prices spike over the coming years, these sprawling real estate assets are going to deliver spectacular capital gains. Individuals or families who have the monetary bandwidth to make large-scale investments in real estate avenues are advised to consider it. Not only can you reap phenomenal returns on your investment, but you can also enjoy living in your plush home with world-class amenities.
The best way to navigate the possibility of purchasing a luxury home is to approach an expert; someone who can help you and guide you through the nitty-gritty of the process. We, at the Chris Hedstrom Group, take pride in assisting our clients to find the best properties across Edmonton, Leduc, Devon and other nearby communities. With a rich experience in real estate, we put our clients first with regards to getting them exactly what they want. To discuss your plans of purchasing a home or find luxury homes for sale in Edmonton, contact us. Our experts would be happy to help you.
