Selling and Buying Homes in Alberta
Alberta’s big cities and its small towns are full of opportunities for the right real estate investor. Still, I essential to understand more about the region, its characteristics and its people before diving right in.
Learning a bit more about the area and what its hottest and most consistent markets have to offer should be the start of your investing research, but it will at least give you a starting point to help inform the rest of your journey.
Alberta has one of the strongest economies of any place on earth, fueling its status as a desirable place to live. What else do we know?
What is the best time of year to invest in Alberta?
February and March are generally the best times to buy property in Alberta. What does this mean?
Firstly, in colder climates, an influx of new workers means an increase in demand for housing, so when people come to Alberta to work, they also tend to rent a place or purchase something new.
Additionally, the quarter should be a great time to buy real estate as it is still very far from the summertime when the demand starts to peak.
Do Alberta markets have a future?
In Alberta, we have a few markets that offer opportunities to invest, one of them being Calgary. Like so many other North American cities, this city has struggled for a few years with the oil crisis and low commodity prices.
What are the hottest markets in Alberta currently?
The oil patch boom is in full swing and still alive. However, after dipping in the economic meltdown, the good times are rolling again, and in Edmonton, Calgary and Fort McMurray, our high oil prices are shining through.
With a housing shortage and easy mortgage access, real estate sales are still among the strongest in the country. And if you want to avoid all the hassles of house flipping and investing in the actual property, many investors specialize in the property buying and selling market.
How can I benefit from the boom?
Real estate investment is the best way to benefit from the boom, but it’s not an easy investment.
What is the average sale price for a house in Alberta?
Here’s an idea of the numbers we need to know: You need to spend $310,000 to buy a house in Edmonton in Canada’s 10th largest city, compared to $265,000 in nearby St. Albert. You need to pay $249,000 in Calgary.
In smaller cities like Fort McMurray (pop. 78,790) and Lethbridge (pop. 115,077), you need to spend less, around $170,000.
If you live in Alberta, you’re not leaving the province anytime soon! You’re likely going to be living in some of the country’s biggest cities.
If you find a house you love, you can even make that investment a financial windfall. It’s a good thing because the average sale price for a house in Alberta increases every year.
It hit $370,012 in February 2018, an increase of 10.8% from the same time in 2016.
How is the rental market like in 2022?
There are good and bad rental markets in Alberta. There’s no accurate picture of the future, so it’s wise to do some investigating and find out which of these markets offer the best opportunities.
The top factors in this decision are, of course, the quality of the building, the location, the size of the rental unit and whether you live in a bustling area with lots of businesses or a quieter part of town.
Generally speaking, Edmonton, Calgary, Fort McMurray and Red Deer all have perfect rental markets, while the rest of Alberta and the rest of Canada aren’t bad by any means. Edmonton has the best and fastest-growing market of any city in the province. Calgary has the second-best but is a little slower growing.
Who are some of the most active investors in Alberta right now in 2021?
One of the best reasons to go after property in Alberta is its relative value right now compared to other Canadian markets. Calgary, Edmonton and Lethbridge are still the top areas for real estate investing, but we have seen some strength in some of the province’s smaller cities, which we don’t always see.
We are seeing people put money into the wine region around Cochrane, the natural gas area around Smoky Lake, and the health area around Camrose.
That means that we’re starting to see a lot of action from folks putting money into this area because it’s still relatively new, and it has a strong economy right now. How much value can investors expect to get out of their Alberta real estate investments over the next four years?