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Tips for first-time home buyers on getting pre-approved for a mortgage quickly: Talk to a loan officer for guidance, ask for referrals from friends, review your credit report for errors, gather necessary documentation, work with one mortgage professional to find the best option, consider interest rates, fees, and customer service when choosing a lender. Continue…

In 2024, Albertans show a stronger inclination to buy homes, surpassing the national average of 18%. Alberta's younger population and high migration are key factors driving homebuying intentions.

Monthly payments become more manageable for young Canadians aiming for homeownership. Some advocate for broader eligibility, expressing concerns about effectiveness in high-priced markets.The industry expects a significant impact, potentially spurring more construction and aiding rental market relief.

Edmonton has the fastest rent growth in Canada, with a 27.5% increase from March 2023 to March 2024. Alberta's job market and affordability make it attractive. Vancouver is the most expensive city for renters, while Manitoba's Winnipeg saw the second-fastest annual growth in rental prices. Continue to full article

Federal government partners with Edmonton aims to fast-track over 5,200 new housing units over the next 3-yr to address the affordability crisis.The Fund, with an investment of over $175M, seeks to eliminate barriers to building affordable housing and create more housing options.

Edmonton was ranked as the 7th best place to live in Canada. The cost of living for 1 person in Edmonton is ~$1,479.

The Governments of Canada and Alberta provided nearly $15 million for 120 new affordable homes in Edmonton. The project, Civida Lendrum, offers one to four-bedroom units with various amenities. Funding came from federal, provincial, and city sources, aiming to address the housing crisis and provide safe and affordable housing for Edmontonians. Continue to full article

Alberta's low taxes and affordable housing magnetize most interprovincial migration. Absence of land transfer tax in Alberta lures out-of-province homebuyers.