The Edmonton Journal reported on an interesting statistic coming from a CIBC survey released earlier this week. Apparently Alberta homeowners have big plans for home renovations in the year ahead. Our Edmonton real estate office was not too surprised.
Not to brag about our city and province (wait, yes, let’s brag) but Edmonton (and the province) continues to post higher results for many positive economic indicators than the national average. When we hear that Alberta homeowners planning renovations are investing an average of $22,900 for the year (compared to the national average of $15,300) our Edmonton real estate team is quick to point out that this trend is reflected in another trend evident in Alberta – the rise in sales of existing homes.
While anyone driving through Edmonton can see that new construction homes are popping up in a feverish pace in residential developments throughout the city, the resale market remains strong. The weekly Economic Review from Finance Alberta reports on this continuing trend and as Edmonton Realtors we are quick to take notice. While many Edmonton real estate agents jump on the new construction bandwagon Edmonton Properties remembers where our bread & butter comes from – the beloved homeowners of Edmonton that decide on their terms when it’s time for an upgrade (e.g. for young families) or a transition into something more practical (e.g. empty nesters). Sure, we also accommodate residents and new households moving into the region looking for new construction Edmonton homes but we will always serve to represent our city as the go-to Edmonton real estate team for those looking to sell their existing home, matching them with the perfect buyer at a fair market price.
We’re happy to see homeowners investing in their existing homes with these increases in home renovations. Anything to make your home more enjoyable and livable for generations to come the better. If you do end up selling your home in the near or far off future you will have added to the resale value and increased your chances of turning a nice profit on your home sale, making it that much easier to transition into the next one that then better accommodates your lifestyle.
Again, Edmonton Properties is the real estate team of the entire Edmonton community, so if you are looking for a real estate team to represent you and your home you’ve come to the right place. Contact our Edmonton real estate team today and let’s add you to the existing economic trend of Albertans successfully selling their homes for a fair market value.