Edmonton Real Estate

[Kavvy]

Hello All,

I am moving to Edmonton and thinking about buying a place instead of renting. Unlike Calgary, I can't seem to find any recently built high rise condo's near the river valley.

Does anyone have any insights on the Edmonton (river valley, central) real estate market?

I am moving in a couple weeks, it is my understanding most rental agreements usually have 1 year terms, does anyone know of a good place to start looking for shorter rental agreements to enable me to buy my time?

Thanks for any tips!

Kavy

[metallicat]

Originally Posted by Kavy

Hello All,

I am moving to Edmonton

My condolences. Do you know what you're getting yourself into? Who's putting a gun to your head? Have you lost your mind? Make sure you get your tetanus shot.

Does that cover it CP?

[mykalberta]

How close to the River Valley do you want, and on what side? You are looking at approx a 10% price deduction compared to Calgary for a comparable place/location.

There are/were lots of plans for the North side as a redevelopment near Telus field, not sure how concrete those plans are now that they lost the Expo bid.

Also remember, 1 main difference between Edmonton and Calgary is the height of allowable wood structures. in Edmonton 6 (province rule) was the limit, in Calgary 5 was. As a result unless you see a towering condo tower, they are mostly wood.

I would also look on the Edmonton web site for plans about the new bridge across the River Valley into downtown, you might buy a condo today and then 5 years from now have a 6 lane freeway next to your window.

[Regulator75]

Bring lots of Febreze.

[Kavvy]

Originally Posted by mykalberta

How close to the River Valley do you want, and on what side? You are looking at approx a 10% price deduction compared to Calgary for a comparable place/location.

There are/were lots of plans for the North side as a redevelopment near Telus field, not sure how concrete those plans are now that they lost the Expo bid.

Also remember, 1 main difference between Edmonton and Calgary is the height of allowable wood structures. in Edmonton 6 (province rule) was the limit, in Calgary 5 was. As a result unless you see a towering condo tower, they are mostly wood.

I would also look on the Edmonton web site for plans about the new bridge across the River Valley into downtown, you might buy a condo today and then 5 years from now have a 6 lane freeway next to your window.

Thanks for all the comments, funny and serious.

I would like to be right on the river valley if possible, and the north side - only for the reason I get the south facing sun (what I think I really want is a west sun at nighttime). The view of a condo on the south-side of the river valley, facing south isn't so great from what I have seen.

Interesting about the wood, I didn't know that,t I think I prefer concrete, it is my understanding it makes a much more quiet condo (and allows me to be louder).

Thanks for the new bridge info, I had no clue, I will look into that!

Kavy

[Winsor_Pilates]

Yeah, concrete is much better but generally costs more. Usually worth it IMO.
I know nothing about Edmonton, but know of a few Realtors there. Can send you some referrals if you're interested in having an agent help you out.

[Byrns]

I'd stick to the south side. More stuff to do there.

[Kavvy]

Originally Posted by Winsor_Pilates

Yeah, concrete is much better but generally costs more. Usually worth it IMO.
I know nothing about Edmonton, but know of a few Realtors there. Can send you some referrals if you're interested in having an agent help you out.

Thank you, and yes if you don't mind, please send me them. I probably won't be contacting them right away as I haven't got pre-approved yet (I currently work shift work up north which doesn't allow for a whole lot of personal time).

Originally Posted by Byrns

I'd stick to the south side. More stuff to do there.

I think your right, i just need a west facing condo then I guess. I want that view and the evening sun!

Thank you

Kavy

[@theCBE]

Originally Posted by Kavy

I am moving in a couple weeks, it is my understanding most rental agreements usually have 1 year terms, does anyone know of a good place to start looking for shorter rental agreements to enable me to buy my time?

University will be out in about 3 weeks.. I'm pretty sure there will be a bunch of people wanting to sub-lease their aparments for the summer. You would probably be able to find something fully furnished for a decent price on a 4 month term.

Maybe there is a housing forum, notice board or something similar run by the UofA?

[Yeah_Baby]

Originally Posted by oilers_fan

My condolences. Do you know what you're getting yourself into? Who's putting a gun to your head? Have you lost your mind? Make sure you get your tetanus shot.

Does that cover it CP?

I think you forgot "Be sure to grow a mullet!" and "I hope you like sweatpants!"

[Kavvy]

Originally Posted by @theCBE

University will be out in about 3 weeks.. I'm pretty sure there will be a bunch of people wanting to sub-lease their aparments for the summer. You would probably be able to find something fully furnished for a decent price on a 4 month term.

Maybe there is a housing forum, notice board or something similar run by the UofA?

Good point, thank you!

Kavy

[metallicat]

Originally Posted by Byrns

I'd stick to the south side. More stuff to do there.

I live on the northside, and haven't been able to make it to the southside to do stuff in a long time due to the lack of bridges and river crossings.

On a serious note though, I thought buildings taller than 4 stories had to be concrete. I had no idea it was 6.

[mykalberta]

Originally Posted by oilers_fan

I live on the northside, and haven't been able to make it to the southside to do stuff in a long time due to the lack of bridges and river crossings.

On a serious note though, I thought buildings taller than 4 stories had to be concrete. I had no idea it was 6.

Its 6 in Edmonton, 5 in Calgary.

My buddy just bought a weird ground/underground suite in a building near the legislature - as soon as he said his place was 6 stories I was like great its concrete, nope - that is just a Calgary thing.

Province regulation max height for wood buildings is 6.

[Yeah_Baby]

Originally Posted by oilers_fan

I live on the northside, and haven't been able to make it to the southside to do stuff in a long time due to the lack of bridges and river crossings.

It was such a shame that those crossings burned down in 2006. Why Oilers fans? Why????

[Winsor_Pilates]

Originally Posted by oilers_fan

I live on the northside, and haven't been able to make it to the southside to do stuff in a long time due to the lack of bridges and river crossings.

On a serious note though, I thought buildings taller than 4 stories had to be concrete. I had no idea it was 6.

4 is the usual go to for wood. 5-6 storey wood buildings are pretty rare.
BC just started allowing for 6 storey wood a couple of years ago, I think AB has likely only allowed them for a short period of time as well but would have to double check to be sure.

Reminds me of a fellow Realtor the other day who came into the 17 story Drake development I'm selling and asked if it was concrete or wood
Clearly great at her job!

[Teh_Bandwagoner]

Originally Posted by Winsor_Pilates

4 is the usual go to for wood. 5-6 storey wood buildings are pretty rare.
BC just started allowing for 6 storey wood a couple of years ago, I think AB has likely only allowed them for a short period of time as well but would have to double check to be sure.

Reminds me of a fellow Realtor the other day who came into the 17 story Drake development I'm selling and asked if it was concrete or wood
Clearly great at her job!

You missed a great opportunity to say something about your 17-storey wood structure.

[squiggs96]

If they are built with CLTs they can go higher than 6 stories and still be built out of wood. There is a 12 story would building going up near UBC and there are bigger ones in Europe.

I lived in Edmonton for the first 7 months of 2005 while articling with KPMG. I almost bought a one bed, one bath condo in a concrete building that was a few blocks away from Jasper and 109th, but at the time I couldn't afford $200,000. I have kicked myself a few times over that, but I was just looking through Google maps and the place never got built. Lucky me that I didn't put a down payment on it.

I liked the area a little ways from there near the Safeway at Westmount. It wasn't the greatest place, but it was good, had most things I was looking for and I never was shot at once.

[Byrns]

Originally Posted by oilers_fan

I live on the northside, and haven't been able to make it to the southside to do stuff in a long time due to the lack of bridges and river crossings.

On a serious note though, I thought buildings taller than 4 stories had to be concrete. I had no idea it was 6.

The N. Saskatchewan is a tricky swim when you've had a few beers.

[Kavvy]

Originally Posted by squiggs96

If they are built with CLTs they can go higher than 6 stories and still be built out of wood. There is a 12 story would building going up near UBC and there are bigger ones in Europe.

I lived in Edmonton for the first 7 months of 2005 while articling with KPMG. I almost bought a one bed, one bath condo in a concrete building that was a few blocks away from Jasper and 109th, but at the time I couldn't afford $200,000. I have kicked myself a few times over that, but I was just looking through Google maps and the place never got built. Lucky me that I didn't put a down payment on it.

I liked the area a little ways from there near the Safeway at Westmount. It wasn't the greatest place, but it was good, had most things I was looking for and I never was shot at once.

CLT = cross laminate timber? what is the difference between that and normal wood?

[MoneyGuy]

PM sent. You can thank me later.