Fort Mcmurray Real Estate BlogRecently posted or modified blog postshttps://www.fortmcmurrayrealestate.com/blog/Copyright FortMcMurrayRealEstate.com2022-12-22T12:11:03-07:00tag:fortmcmurrayrealestate.com,2012-09-20:164514 Tips For Buying Your First Investment Property: Income Properties For Beginners<img src="/userFiles/1785/image/investment-buying-guide.jpg" style="display: block; margin: 0 auto 20px auto;" alt="Guide for Buying Your First Investment Property" />
Owning an investment property is an excellent opportunity to earn passive income and increase monthly revenue. Investment properties like <a href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-duplexes-for-sale/" title="Fort McMurray Duplexes For Sale">duplexes</a> can either be part-time or become a primary occupation. In either case, buying one for the first time might feel overwhelming. Here are four tips for buying your first investment property.
What to Look For in an Investment Property
Not every home or property is the right fit for an investment opportunity. Therefore, you must carefully consider the property's different aspects before purchasing it.
The house itself should be in decent shape. You don't want to purchase an investment property that needs immediate repairs or expensive fixes before you can begin to rent it out. Additionally, you don't want a property that will require a lot of ongoing maintenance responsibilities, so consider the home's overall repair needs.
The property's location is another essential factor when considering your options. It should be in an excellent location appealing to buyers and renters, as this will be a key point to highlight when <a href="https://www.fortmcmurrayrealestate.com/blog/how-to-advertise-rental-properties/">advertising your rental property</a>. Access to schools, shopping, entertainment, and public transportation are things tenants seek in their rentals.
Consider Expenses vs. Potential ROI
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When you first consider buying an investment property, you can easily see the appeal of potential revenue gain and overlook the required expenses. However, you'll need to determine how to balance the costs against the possible return on your investment. There's a lot more to buying an investment property than just the purchase price of the home and the rent you can collect—you must remember other expenses like taxes, fees, cleaning costs, insurance, maintenance, repairs, and advertising.
A budget is essential when looking at your <a href="https://www.fortunebuilders.com/rental-property-investment/" target="_blank">investment property's finances</a>, as one allows you to plan for significant repairs and potential damage. It also helps you stay realistic about the property's cash flow and plan how you will spend the income you receive from renters. Ultimately, a budget allows you to stay consistent, avoid overspending, and make better financial decisions regarding the property's needs.
Decide on Self Management or a Property Manager
You'll also need to decide how to manage your investment property, either by <a href="https://rcpmsolutions.ca/self-managing-vs-property-management/" target="_blank">yourself or by hiring a property manager</a>. Self-management gives investors more control over the property's decisions and saves them significant money while allowing them to create relationships with their tenants. On the other hand, independently managing a property can be time-consuming. It's also hard to do if you are not local to the area where the investment property is located. A manager or management company can apply their expertise but it can be expensive, so investors must weigh these options carefully.
Consult the Professionals
Finding the best investment property on your own might not be the best option. When you explore different properties without a professional, you might miss essential factors or be unaware of the local area and pick the wrong location. Having the support of a real estate professional can help you feel more at ease with your investment and have more confidence that you've picked the right property.
Local real estate agents will know the region very well. They have insider knowledge of high-demand areas, market trends, and which properties will be the best options for rentals. Investors should ensure the agent they pick has expertise in investment properties and access to <a href="https://www.investopedia.com/articles/personal-finance/121415/how-find-and-buy-offmarket-homes.asp" target="_blank">off-market homes</a> to expand their purchase options.
Experience the Benefits of Investment Properties
Whether it be a duplex, a <a href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-condos-for-sale/" title="Fort McMurray Condos For Sale">condo</a>, or a <a href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-single-family-homes-for-sale/" title="Fort McMurray Single-Family Homes For Sale">single-family home</a>, investment properties are excellent ways to earn additional income, as you can collect rent and list your home on the real estate market. With these tips and ensuring you select the right rental property, you can experience numerous financial benefits and achieve your investment goals.
2022-12-20T10:56:56-07:002022-12-20T11:04:48-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:164134 Tips for Advertising Your Rental Property: Market Better, Earn More<img src="/userFiles/1785/image/investment-property-marketing.jpg" style="display: block; margin: 0 auto 20px auto;" alt="How to Market an Investment Property" />
With investment properties becoming more accessible and easily found thanks to apps and websites, property owners should know how to advertise their homes successfully. The following tips for marketing your investment property can help interested renters discover what makes it unique.
Take Quality Pictures
The photos you use to market your investment property give potential renters their first impression of the home. If your photos are grainy, unprofessional, or don't showcase the house's best features, potential renters likely won't be interested in renting. Taking high-quality pictures helps you stand out from the crowd and display your property's potential.
The first step is to use a good camera, as using your phone won't deliver the best results. A <a href="https://www.hgtv.com/lifestyle/real-estate/take-better-real-estate-photos" target="_blank">digital camera with at least five megapixels</a> is your best bet.
It's also vital to <a href="https://www.fortmcmurrayrealestate.com/blog/home-staging-your-way-to-a-better-offer/" title="How to Stage a House">stage the house</a> before you take any pictures. Set it up to look inviting but not cluttered. Make sure everything is clean and small things like coasters and picture frames are out of view. You can even place items like flowers to add freshness and a pop of colour.
As you take the pictures, use natural lighting and take photos from angles that show the size of the rooms, like doorways and corners. Once you've taken your photos, use simple editing tricks like tweaking the brightness and contrast to make them really shine.
Write a Captivating Listing
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The next step is to create a captivating copy description to accompany your photos. Your listing helps add context and educate potential renters on the benefits of your investment property. Fill your listing with accurate details, and use adjectives to help sell the promise the home can provide renters. Words like 'cozy,' 'vacation,' and 'luxurious' all help tell the story of the property and intrigue readers.
If the property has standout features like specialty equipment, waterfront access, unique rooms, or an excellent location, ensure you highlight those factors in your listing. Ensure you are grammatically correct, and <a href="https://www.xara.com/real-estate-headlines/" target="_blank">write your headline</a> to describe a short snapshot of the property that grabs attention. Include the home's best features in your headline and expand upon them in the listing.
Diversify Your Advertising
Even the best photos and descriptions won't be enough to get renters if they can't find your listing. Advertising your property is key to maximizing your investment. To begin, figure out who your renters will be. Are you renting to long-term tenants? Or those who want a weekend getaway? Knowing who you are advertising to can help create a compelling marketing message.
Many <a href="https://www.lifestorage.com/blog/moving/the-best-free-home-and-apartment-finding-real-estate-apps/" target="_blank">renters use apps to find properties</a>, so having listings on these digital channels helps you find renters. You should also have signs on the road by your property so people driving by can see that it is available for rent.
Word of mouth is also a meaningful way to spread the word. Having people in the community who vouch for the property and give it great reviews on social media goes a long way in helping you find renters.
Plan Your Price & Timing
When you are ready to list your property, it's essential to consider the price and timing. You want to ensure the cost of your rental property is similar to the area around you while maintaining its profitability. However, renters have expectations about rent in specific locations, and you want to stay competitive with other properties. Conducting market research can help you get a better feel for the area and your property's price range.
Listing your investment property at the right time is also essential. <a href="https://www.mysmartmove.com/SmartMove/blog/best-time-list-rental-property.page" target="_blank">Summer is peak rental season</a>, as more people often seek properties during this time. Therefore, when you list during summer, you can find renters faster and may even be able to charge a higher rent price than in off-seasons like winter and fall. You can also try timing your leases to end in the peak season to get the best chance of re-rental.
Get the Most Out of Your Investment Property
An investment property has many benefits and can be an excellent way to gain more monthly income. To get the most out of your investment property, you must ensure you are putting effort into your marketing and doing everything you can to maximize your investment and keep it rented year-round. By following these steps to market your home, you can enjoy the rewards of an investment property and stand out from other rentals in your area.
2022-12-15T12:20:01-07:002022-12-15T12:41:52-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:95435 Best Parks & Trails in Fort McMurray: Wood Buffalo Park & Birchwood Trails<img src="/userFiles/1785/image/best-parks-fort-mcmurray.jpg" style="margin: 0 auto 20px auto; display: block;" alt="Best Parks in Fort McMurray" />
Fort McMurray, or simply "McMurray," as the locals call it, is a very outdoorsy community. Locals enjoy nearby trails and scenic views year-round, and the area parks are one of the <a href="https://www.fortmcmurrayrealestate.com/blog/what-is-fort-mcmurray-known-for/">things Fort McMurray is known for</a>. Living in a neighbourhood with easy access to local parks makes enjoyment of the community that much greater for homeowners. It's easy to walk out the front door in many neighbourhoods and stroll on the local trail system or get some exercise and fresh air in a nearby green space. Here are five of the best parks that are easily accessed from <a href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-homes-for-sale/">Fort McMurray's homes for sale</a> and the neighbourhoods nearest to them.
Wood Buffalo Park
Wood Buffalo Park is located off Wilson Drive and Woodward Lane in Fort McMurray. A small parking area is free to use at 187 Woodward Lane. Street parking is also allowed on a first-come, first-serve basis. A seasonal splash park is available right next to the parking lot. A large children's playground with a wood chip surface is one of the big draws of this park and is open year-round.
A paved walking path runs through the park, which is perfect for jogging or pushing a stroller. Wood Buffalo Park has a full-sized soccer field and a basketball court. Visitors can bring along a picnic lunch, as tables and benches are available for seating. The park also has a large grassy area for people to walk around, enjoy a book, or toss a frisbee.
This park is located adjacent to <a href="https://www.fortmcmurrayrealestate.com/wood-buffalo-homes-for-sale/">homes in Wood Buffalo</a> on the western edge of Fort McMurray. There are primarily single-family bungalows and a few townhomes available for housing. Wood Buffalo Park is centrally located in the neighbourhood.
Birchwood Trails
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The Birchwood Trails are a sprawling network of outdoor trails that are, as the name suggests, lined by beautiful birch trees that are native to the area. The trails are primarily located between Thickwood Boulevard and Confederation Way in the north part of McMurray. The system has many types of trails to meet various outdoor activity needs, rounding out the many <a href="https://www.fortmcmurrayrealestate.com/blog/fort-mcmurray-things-to-do/">things to do in Fort McMurray</a>.
There are some short, unpaved trails that are less than a kilometre in length. These are great for a short walk through the woods, where bridges cross local creeks and wildlife can sometimes be viewed. Longer paved trails provide opportunities for mountain bikers and long-distance runners. Some trails have steep slopes, providing more of a workout for residents, and numerous outdoor "green gyms" are located along one of the trails in the southern part of the network. Many trails are also groomed for cross-country skiing in the wintertime.
Birchwood Trails are located within three neighbourhoods in the north-central part of McMurray:
Timberlea
<a href="https://www.fortmcmurrayrealestate.com/dickinsfield-homes-for-sale/" title="Dickinsfield Homes for Sale">Dickinsfield</a>
Thickwood
Single-family starter homes are the primary home type in these three neighbourhoods, but there are a limited number of townhomes and a few low-rise condo buildings. There are dozens of access points to the trail system from these neighbourhoods. A <a href="https://www.rmwb.ca/en/parks-and-recreation/resources/Documents/Birchwood-Trails-Map.pdf" target="_blank">trail map</a> provided by the city gives a sense of how many opportunities the trails offer in the area.
MacDonald Island Park
<a href="https://www.macdonaldisland.ca/visit-mip" target="_blank">MacDonald Island Park</a> is a massive sports complex that is the heart of the community in Fort McMurray. The park covers MacDonald Island and has a huge variety of things to see and do. The Suncore Community Leisure Center includes many of the following amenities and activities:
Two indoor ice arenas
Curling rink
Indoor aquatic center/pool
Indoor playground and kids' clubhouse
Fitness centre
Community art gallery
Indoor running track
Squash and racquetball courts
Shell Place offers multiple outdoor fields and arenas for soccer, baseball, and other sports, and numerous outdoor skating rinks are available during winter. The Miskanaw Golf Club is also on the island, providing 18 holes of championship golf during the summer months. There are also interpretive trails that can be walked on the island to learn more about the local flora, fauna, and history.
The <a href="https://www.fortmcmurrayrealestate.com/thickwood-homes-for-sale/">community of Thickwood</a> is closest to MacDonald Island Park. It has a nice mix of single-family homes, duplexes, townhomes, and a few condos.
Borealis Park
Borealis Park, a must-see for visitors and those <a href="https://www.fortmcmurrayrealestate.com/blog/moving-to-fort-mcmurray/">moving to Fort McMurray</a>, is located directly across the Snye River from McDonald Island Park. There are numerous indoor and outdoor activities here, and ample parking is available at the east end of Borealis Park, at the end of Morimoto Drive. There is also a smaller parking lot on the park's west end. A pond and a short walking trail are the main draws here.
There's no elevation change to worry about on the park's easy-rated trail, which encircles the pond. During the winter, the pond becomes an outdoor skating rink that's free for the public to use. Festive lights keep the rink well-lit and stay on nightly until 11 p.m., weather permitting. The Haxton Centre in the park is an indoor space where kids can enjoy entertainment after school or on Friday nights. They have movie nights, cooking classes, yoga, and other activities for local teens.
This park is situated at the north end of the city, near the <a href="https://www.fortmcmurrayrealestate.com/downtown-condos-for-sale/">condos in downtown Fort McMurray</a>. Most of the housing in the downtown area consists of condominiums, although a few single-family homes are scattered throughout the neighbourhood. Some condos have spectacular water views of the Snye River and the Clearwater River.
Syncrude Athletic Park
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The Syncrude Athletic Park is an extensive community sports centre in the northwest part of Fort McMurray. The outdoor fields include a cricket pitch, six baseball/softball fields, four soccer fields, and an outdoor ice rink. All of the outdoor facilities also provide plenty of spectator seating. This park is home to many local and regional sports tournaments due to the ability to field multiple games at once.
The park includes a public playground for kids, a splash park, and one of the few skateboarding parks in town. The Syncrude Clubhouse is a 9,691-square-foot facility that provides additional amenities for visitors and athletic teams, including locker rooms, a kitchen, and an outdoor atrium with seating for 120 people. Concessions are available at many sporting events. An outdoor patio provides another space to relax and watch games from a distance. There's even an indoor multi-purpose space that can be reserved for events.
Syncrude Athletic Park is located in close proximity to <a href="https://www.fortmcmurrayrealestate.com/timberlea-homes-for-sale/" title="Timberlea Homes & Real Estate">homes in Timberlea</a>. This part of town has a variety of bungalow-style single-family homes, duplexes, and condos. A few of the homes even fall within the category of luxury homes. Parents wanting easy access to the sports facilities at Syncrude Athletic Park would do well to explore this neighbourhood for a home.
Parks by Activities Offered
Here are lists of some of the best choices in the Wood Buffalo area for different activities.
Parks and Outdoor Areas for Sports
If you're looking for a park or area with basketball courts, ball diamonds, soccer fields, outdoor boarded rinks and other sports activities these are your best choices.
Father Beauregard & Centre Boreal School Sites - <a href="https://www.fortmcmurrayrealestate.com/abasand-homes-for-sale/" title="Abasand Homes for Sale">Abasand neighbourhood</a>
Ecole Dickensfield & Sister Mary Phillips School - Dickinsfield
Reidel Street next to Boys & Girls Club - Downtown
Father Mercredi Community Field - Thickwood
Timberlea & St Anne School Sites - Timberlea
Wood Buffalo Park - Wood Buffalo
Gregoire Park - <a href="https://www.fortmcmurrayrealestate.com/gregoire-homes-for-sale/" title="Gregoire Homes for Sale">Gregoire neighbourhood</a>
Ross Hennigar Park - Thickwood
Syncrude Athletic Park - Timberlea
J. Howard Pew Park - <a href="https://www.fortmcmurrayrealestate.com/waterways-draper-road-homes-for-sale/" title="Waterways and Draper Homes for Sale">Waterways neighbourhood</a>
St. Gabriel School/Hinge Bay - Thickwood
Waterways Community Park - Waterways
MacDonald Island Park - Downtown
Timberlea Community Park - Timberlea
Parks with a Boat Launch
Two parks in the Wood Buffalo area provide boat launches and they are:
Snye Park - Downtown
Sitskaw Park - Waterways
Skateboard Parks
Three parks in the Wood Buffalo area provide a place for skating fun. They include:
Simons & Lucas Park - Abasand
Casselman Lush Memorial Skate Park (Borealis Park) - Downtown
Syncrude Athletic Park - Timberlea
Spray Parks
When the warmer weather comes around it's nice to know where the spray parks are found. Here are the five choices:
Grayling Terrace Park - <a href="https://www.fortmcmurrayrealestate.com/grayling-terrace-homes-for-sale/" title="Grayling Terrace Homes for Sale">Grayling Terrace neighbourhood</a>
Lakewood Park - Timberlea
J. Howard Pew Park - Waterways
Wood Buffalo Park - Wood Buffalo
Beacon Hill Spray Park - <a href="https://www.fortmcmurrayrealestate.com/beacon-hill-homes-for-sale/" title="Beacon Hills Homes for Sale">Beacon Hill neighbourhood</a>
Parks with Running Tracks and Area Trails
If you want to enjoy a running track or one of the area trails, the best choices are:
Timberlea Community Park - Timberlea (Also includes a Javelin Pitch)
Composite High School Site (Corless Field) - Downtown
Father Mercedi Community Field - Thickwood
Birchwood Trails - Fort McMurray
Enjoy the Great Outdoors in Fort McMurray, AB
There's a bounty of <a href="https://www.fortmcmurrayrealestate.com/blog/best-outdoor-activities-fort-mcmurray/">outdoor recreation in Fort McMurray</a>, and residents make good use of local parks and trails year-round, whether they're going for nature hikes in the summer, cross-country skiing, or inline skating in the winter. Finding a home in the right neighbourhood for the activities one enjoys can be a significant quality-of-life enhancement while living here. There are other outdoor parks and activities to explore here, but the ones on this list are some of our favourites.
2022-10-26T08:00:00-07:002022-11-01T12:18:58-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:16015Buying a Vacation Home: 4 Tips For a Successful Second Home Purchase<img src="/userFiles/1785/image/vacation-home-buying-guide.jpg" style="display: block; margin: 0 auto 20px auto;" alt="Guide to Buying a Vacation Home" />
Many people dream of owning a vacation property to escape to whenever the mood strikes. As enticing as the thought may be, there are some things you'll want to consider before making a purchase. Whether you want a vacation home to enjoy time away from your "normal" routine, or you want a <a href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-duplexes-for-sale/" title="Fort McMurray Duplexes For Sale">duplex</a> as a way to earn income while building real estate equity, there are financial challenges and maintenance to think about.
Weigh the Pros & Cons of Owning a Vacation Home
As you consider the relative advantages and disadvantages of vacation home ownership, you'll also want to consider travel arrangements, the cost of travel to and from your second home, and the need for ongoing maintenance and periodic repairs. Check the availability of needed services and security beforehand to determine if your vacation home will be appropriately <a href="https://www.fortmcmurrayrealestate.com/blog/vacation-home-maintenance-guide/">maintained when you're not there</a>. Confirm that such services are part of the contract if you plan on renting it and listing with a management company.
Pros of Vacation Homes
By choosing wisely and investing in a second home in a popular area, you might expect vacation property to appreciate relatively quickly in value. If you decide to rent it out, you can typically still enjoy using your vacation property when you wish but also earn additional income that will help pay the mortgage and maintenance bills. The return on investment, especially if you own property in sought-after locations, can be impressive, and the equity build-up is a bonus.
In addition to the <a href="https://www.fortmcmurrayrealestate.com/blog/are-fort-mcmurray-vacation-homes-a-good-investment/">financial advantages of owning vacation property</a>, most buyers consider a vacation home an investment in their quality of life.
Cons of Vacation Homes
Many of the costs associated with vacation home ownership are the same as those associated with your primary residence. Added concerns like the property's location, and your ability to monitor and control costs from afar, might be potential challenges. Even if your vacation property is within a day's drive, it is likely impossible to keep a close watch on its condition and know exactly what needs to be done on a routine basis, whether the home is empty or rented out.
If you choose to place your vacation home with a <a href="https://www.vacasa.ca/homeowner-guides/what-is-full-service-property-management" target="_blank">full-service rental property management company</a>, you should receive regular statements and updates, but you will be required to pay a fee for management services. Ensure the rent you receive will cover the management costs, any debt service, and the cost of utilities, taxes, and maintenance. No property will be rented 100% of the time. Figure out the required occupancy rate based on all associated costs.
If you choose not to rent a vacation property, it is even more imperative that you consider the total annual cost of ownership and your ability to carry the financial load.
Consider the Finances
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Owning a second home is a bit more complicated than doubling the payments you are obligated to make on your primary property. Because there are various ways to treat a vacation home—either as a personal asset or strictly as an investment, based on the way it's used or rented out—you should obtain the advice of both a legal representative and a tax accountant before entering into a contract to buy a second home.
It's also typically more difficult to secure a <a href="https://www.fortmcmurrayrealestate.com/blog/vacation-home-buying/">mortgage for a vacation home</a> and might require a much higher <a href="https://www.fortmcmurrayrealestate.com/blog/down-payment-guide-for-home-buyers/">down payment</a>, sometimes as much as 50% of the value. Consider how each scenario might impact your current financial reserves and income. Budget for the costs of utilities, routine maintenance and upkeep, periodic repairs, taxes, and, if pertinent, any association fees or community dues. Ask all the relevant questions, and satisfy yourself with answers before you decide to buy.
If you <a href="https://www.fortmcmurrayrealestate.com/blog/sell-vacation-home/">sell your vacation property</a> for a higher price, you will be liable for capital gains tax on your investment and the associated selling costs. Know beforehand what that might entail.
There are numerous good reasons to <a href="https://www.fortmcmurrayrealestate.com/blog/how-to-get-started-in-real-estate-investment/">invest in real estate</a>, mainly second homes and vacation properties.
Decide If You Want to Rent or Not
Deciding to rent a vacation home may seem easy on the surface. However, there is a lot more involved than most people think.
Many people dream of owning a vacation home for reasons that have little to do with economic gain or financial reward. If you have the capital to purchase a second home and the income to pay the added ownership expenses over time, you may not need to rent your property.
If you rent your vacation home, you shift from second home owner to business manager. Renting allows you to recoup some of those dollars and treat the expenses as business deductions. <a href="https://www.vacasa.ca/homeowner-guides/how-to-run-vacation-rental-business" target="_blank">Running your vacation rental like a business</a> will decrease your annual income tax burden and save you money. Strict rules must be followed to report your yearly expenditures. Be clear about what expenses can be counted as losses and the allowable percentage you can claim annually.
Spend the time and money upfront to get the answers you need, like understanding the governing rules and regulations. Budget realistically for repair and replacement costs, and don't leave anything of high value in the home when you're not there.
Choose the Best Location
No matter your dream, the big question is, "Where do you want to live that dream?" Because, by its very nature, a vacation home caters to your preferences. Select a location that you love. Whatever your preferences are—mountain ski chalet, secluded pastoral land, a hunting and fishing retreat, lakefront cabin, or beach cottage—look for a vacation home in your price range that satisfies your wants and needs.
Other valid considerations include a vacation home's proximity to your primary residence and its earning potential if you rent it for short-term stays or a part of the year. Evaluate the property's potential for appreciation, and consider whether your vacation home could become your full-time residence.
Are You Ready to Buy a Vacation Home?
Once you have all the facts, you're ready to search for the right vacation home.
No doubt purchasing vacation real estate has surged over the past several years, and second-home ownership will continue to be a popular option for investors. Whether you choose a duplex, a single-family home, or a condo in a resort community, you are part of a growing trend. Buy for the "right reasons," and you should have a stable investment and a second home to enjoy.
2022-10-18T09:59:06-07:002022-10-26T08:29:54-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:159744 Ways to Handle Vacation Home Maintenance When You're Not There<img src="/userFiles/1785/image/maintain-vacation-home.jpg" style="display: block; margin: 0 auto 20px auto;" alt="How to Maintain Your Vacation Home When You're Not There" />
After carefully considering the <a href="https://www.fortmcmurrayrealestate.com/blog/are-fort-mcmurray-vacation-homes-a-good-investment/" title="Buying a Vacation Home in Fort McMurray: 3 Things to Consider">viability of purchasing a vacation home</a>, you've taken the plunge and purchased a <a href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-duplexes-for-sale/" title="Fort McMurray Duplexes For Sale">duplex</a>. Now what?
Sadly, most people can't be on vacation all the time, so it's necessary to make arrangements for maintaining your vacation home when you're not there. Whether it's a vacation home for your private use or one that you rent out for other people to enjoy, there are plenty of ways for you to manage maintenance on your property from afar.
Are You Renting Out the Home?
Simply put, vacation homes are properties intended for vacationing, and rental homes are properties intended to turn a profit.
If you have a vacation home that only sees visitors, including yourself, a few times a year, the maintenance demands on the property are likely lower due to less wear and tear. Many maintenance needs for unoccupied vacation properties are more preventive and proactive. For example, you should take steps to ensure the gutters are clean and debris-free to prevent flooding and that all windows and doors are sufficiently sealed.
Of course, renting out a vacation home is more profitable than letting it sit unoccupied, but doing so comes with its responsibilities and costs. Maintenance will almost certainly be more frequent and reactive with a rental property. For example, a mysterious leak may develop under a sink, or a tenant may accidentally put a hole in the wall. These are costs you can anticipate and somewhat factor into your profit calculations but can't exactly plan for until they happen.
In Canada, you can also <a href="https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/rental-income/completing-form-t776-statement-real-estate-rentals/rental-expenses-you-deduct.html" target="_blank">deduct rental property maintenance and repair costs</a> from your taxes in most cases. Note that this only applies to work performed by someone else, and you're limited to writing off minor maintenance and repair costs.
Handle Maintenance on Your Own
Although you lose the tax deduction, you can still save money by handling maintenance on your rental property yourself. Consider these tips for <a href="https://www.thebrecklife.com/blog/how-to-take-care-of-vacation-homes-when-youre-not-there/#:~:text=Install%20Smart%20Technology" target="_blank">managing your vacation property</a> on your own.
Buy Near Your Primary Home
It's a good idea to buy a rental property relatively close to your primary residence in case you need to pop in to handle maintenance issues. This is especially true regarding emergency repairs, as calling a professional for this type of service often comes with a high price tag.
Use Smart Technology for Monitoring
Thanks to all kinds of modern "smart" technology, you're no longer in the dark about what's going on at your rental property. Install tools like Ring cameras so you can easily check up on the house and get notifications. Another wise addition for rental property owners is motion-sensitive lights around your property.
Buy a Home in an Association
If you can't buy a home that's physically close to you, an alternative is to buy one in an area with neighbours who are happy to check up on the property while you're not there. Community associations are neighbourhoods or buildings where you pay a fee for certain amenities, including maintenance and upkeep.
Property Management for Vacation Rentals
<img src="https://assets.site-static.com/userfiles/1785/image/property-management.jpg" alt="Property Managers Can Be Expensive But Handle All the Work" style="display: block; margin: 20px auto;" />
Property owners who aren't close enough to their property to manage it themselves often hire property management companies. It's a bit simpler to maintain real estate investments that you live in and rent out, but this doesn't apply to most vacation homes. Each company will offer a suite of different services, but it's not uncommon for many property management companies to handle all aspects of the rental experience for owners. This could include initially posting the listing, vetting potential tenants, facilitating inspections, and overseeing maintenance and repairs.
Since vacation rentals have different considerations than a regular rental property, a property management company may be the best way to ensure you're getting the most out of your home. A good property management company will allow you to be as hands-on or hands-off as you want as an owner. Here are some pros and cons of using a property management company for your vacation rental.
Pros
24/7 support to handle emergencies
Manage bookings and payment collection
Professional knowledge of local property laws
Cons
Services can be expensive
It can be challenging to find a reputable property management company
Not all property management companies are equipped to manage vacation properties
Property Management for Non-Rentals
Suppose your vacation home isn't doubling as a rental property. In that case, you may not need to worry about having a dedicated property management company since your home's maintenance and repair needs should be much fewer and farther between. Even so, having an extra set of qualified eyes on your vacation property can go a long way in catching issues early on and providing you with the peace of mind that your property is protected. That's where non-rental organizations for home watching come in.
These associations offer services that include checking up on vacant properties to monitor for obvious issues, such as leaks, pests, or signs of an invasion. They also manage other tasks like snow removal and picking up the absent owner's mail. Home watch companies are staffed by trained professionals who can manage affairs on your behalf and relay key information about the property to you. Here are some pros and cons of hiring a home watch company.
Pros
Less expensive than full property management services
Professionals accredited through the <a href="https://www.nationalhomewatchassociation.org/" target="_blank">National Home Watch Association</a>
Customizable to your property's unique needs
Cons
Less comprehensive services
Fewer home watch companies are available
Cannot conduct major repairs on your behalf
Keeping Up With Your Home
Ultimately, your vacation home should be a place of comfort, fun, and perhaps even some profit. Make sure it's not a source of stress by having solid monitoring and maintenance protocols in place if you're an out-of-town owner.
You can make it easier on yourself by living as close to your vacation home as possible, relying on community support, and investing in technology that lets you keep an eye on your home. If possible, <a href="https://www.fortmcmurrayrealestate.com/blog/home-security-features-for-condos-townhomes/">consider a home's security systems before buying</a>. Once you've purchased a vacation property and it makes sense for you, don't hesitate to contact a property management or home watch company to ensure your vacation home is always guest-ready.
2022-10-10T12:38:00-07:002022-10-10T13:54:42-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:9496Halloween Events in Fort McMurray [2022]: 9 Spookiest Halloween Parties<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/1785/image/fmre-halloween.jpg" alt="Halloween Events in Fort McMurray" width="475" />The scary season is nearly here, and it's time to find the right events for your fun Halloween in the <a href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-homes-for-sale/" title="Fort McMurray Homes For Sale">city of Fort McMurray</a>. Whether you need a place to take the kids or somewhere specifically for adults, you can find it here. Some of the top events include:
Tipsy Trivia's The Office Trivia: Halloween Edition
Oct. 11, 7 p.m.
<a href="https://www.google.com/maps/place/The+Canadian+Brewhouse+(Fort+McMurray)/@56.7597229,-111.439944,17z/data=!3m2!4b1!5s0x53b00917ca294e25:0x1f1b5346c0f8b41c!4m5!3m4!1s0x53b0093c51c679a1:0xe20d31ec1975724!8m2!3d56.75972!4d-111.43775" target="_blank">The Canadian Brewhouse (Fort McMurray), 108 Riverstone Ridge, Fort McMurray</a>
<a href="https://www.eventbrite.ca/e/tipsy-trivias-office-halloween-trivia-oct-11th-7pm-cbh-fort-mac-tickets-430026469747" target="_blank">Buy your tickets for Tipsy Trivia here</a>
Are you a fan of The Office? Have a friend that is? Good at guessing? Or maybe you just want the entertainment value of watching people try to answer trivia after having a few drinks. If any of these sound like you, you're sure to have a blast at The Canadian Brewhouse on October 11th!
Solo contestants and teams of up to 6 can register to compete in four rounds of trivia about the Halloween episodes of The Office. Hundreds of dollars in prizes are on the line, whether being won by the top three teams, as door prizes, or to the winners of the costume contest! Do note that spectators also require tickets.
Junior Boo
Oct. 22–23, 10 a.m.–5 p.m.
<a href="https://www.google.com/maps/place/Boys+and+Girls+Club+of+Fort+McMurray/@56.7231391,-111.3659852,17z/data=!3m1!4b1!4m5!3m4!1s0x53b00f4df46c50a5:0x990ae41f0de10146!8m2!3d56.7231292!4d-111.3637842" target="_blank">BGC Fort McMurray, 20 Riedel Street, Fort McMurray</a>
Held at the Boys and Girls Club of Fort McMurray, this weekend-long spooktacular will have everything from bouncy castles and carnival games to face painting and prizes! Entry is free, but tickets can be purchased at the door with proceeds going toward funding children's and youth programs. Learn more at the <a href="https://fmbgc.ca/event/junior-boo-2/" target="_blank">BGC website</a>.
Fort McMurray International Airport Family Halloween Event
Oct. 23, 11 a.m.–4 p.m.
<a href="https://www.google.com/maps/place/Fort+McMurray+International+Airport+(YMM,+CYMM)/@56.6487997,-111.2304729,15z/data=!4m2!3m1!1s0x0:0xa84e6ba570e55d62?sa=X&ved=2ahUKEwiynMDrrcn6AhV8nWoFHfk4A1AQ_BJ6BQiDARAF" target="_blank">Fort McMurray International Airport (YMM, CYMM) 100 Snow Bird Way Fort McMurray</a>
<a href="https://www.eventbrite.com/e/fort-mcmurray-international-airport-family-halloween-event-tickets-428753572477" target="_blank">Register for the party here</a>
It's all about the kids at the Family Halloween Party! Held on Level 1 of the airport, this party will have a DJ, trick-or-treating, a best costume contest, and other fun activities for all ages. You can even get a family photo to commemorate the occasion in exchange for a donation benefitting the United Way Fort McMurray and Wood Buffalo.
Parking is free for event guests. Guardians need to register children in advance but don't need to register themselves.
Spooky Scary Halloween Stunting Party + Boo-Tastic Halloween Preschool Camp
Preschool Camp: Oct. 28, 8:30–10:30 a.m.
Stunting Party: Oct. 28, 5:30–7 p.m.
Location for both: <a href="https://www.google.com/maps/place/Premier+Academy+Cheerleading+%26+Tumbling+Fort+McMurray/@56.7121194,-111.3517961,15z/data=!4m5!3m4!1s0x0:0x1d90d0f9b95589e1!8m2!3d56.7121194!4d-111.3517961" target="_blank">Premier Academy Fort McMurray, 8115 Franklin Ave, Fort McMurray</a> (Fieldhouse 4 inside Keyano College)
Register for either party on the <a href="https://premieracademy.ca/camps-clinics/#fortmcmurray" target="_blank">Premier Academy website</a>
Premier Academy is hosting two Halloween events this year, and both are sure to be a frightful delight!
The Boo-Tastic Halloween Preschool Camp is being held for ages 3–5 and will be filled with fun events, including games, circuits, arts and crafts, and storytime. Costumes are welcome, though please leave any props at home, as well as any costume that may present a safety hazard. Participants should bring a small snack and a water bottle.
The Spooky, Scary Stunting Clinic later in the afternoon is for ages 6+ and promises a night full of festive fun with Halloween games and lots of stunts and tumbling. Come dressed in costume! Premier Academy clinics tend to sell out fast, so be sure to register early.
Haunted Halloween Candy Hunt in the Dark
Oct. 28, 10 a.m.–12 p.m.
<a href="https://www.google.com/maps/place/Fort+City+Play+World/@56.6613889,-111.3405556,15z/data=!4m5!3m4!1s0x0:0xbdf07dffa341bc61!8m2!3d56.6613889!4d-111.3405556" target="_blank">Fort City Play World, 235 Macalpine Crescent #7A, Fort McMurray</a>
Call 587-539-5656 to get your ticket
Explore Fort City Play World in the dark to hunt down delicious treats! Thirty guests per hunt will be let loose for approximately 20 minutes, then the rest of the time is for play. The toddler area will be kept separate for toddlers to enjoy. Come in costume and armed with a candy bucket and a flashlight!
Tickets are $3 plus the cost of admission.
Halloween Kids Night Out
Oct. 28–29, 5–7 p.m.
<a href="https://www.google.com/maps/place/Color+Me+Mine/@56.7527856,-111.4285879,15z/data=!4m5!3m4!1s0x0:0x68fcd882c032f549!8m2!3d56.7527856!4d-111.4285879" target="_blank">Color Me Mine, 355 Loutit Rd Unit 109, Fort McMurray</a>
Book your place on the <a href="https://fortmcmurray.colormemine.com/calendar/" target="_blank">Color Me Mine website calendar</a>
Ready to get crafty? Paint-your-own ceramics studio Color Me Mine is hosting a Halloween party with painting, pizza, and a spooky movie! Attendees 5 and older will get a Halloween-themed piece to paint. If you come in costume, you'll be entered to win a prize!
The Halloween Party + Fashion Scream!
Fashion Scream!: Oct. 29, 12–3 p.m.
The Halloween Party: Oct. 29–30, 8 p.m.–2 a.m.
<a href="https://www.google.com/maps/place/Syncrude+Sport+%26+Wellness+Centre/@56.7116346,-111.3501172,17z/data=!3m1!4b1!4m5!3m4!1s0x53b005f8505e1841:0x401e8925ed63a95d!8m2!3d56.7117367!4d-111.3477853" target="_blank">Syncrude Sport & Wellness Centre, 9908 Penhorwood St, Fort McMurray</a>
Halloween isn't just for kids! Get ready to have an epic adults-only Halloween party featuring live music, two DJs, drinks, costumes, and cash prizes for the best costumes on the dance floor. <a href="https://www.eventbrite.ca/e/the-halloween-party-tickets-422254924847" target="_blank">You can buy your tickets here</a>.
If you do want someplace you can bring your kids along, though, never fear! Just come earlier in the day. The Fashion Scream costume party and fashion show is being held in the same place from noon to three. There will be music, activities, a photo booth, and a runway to strut your stuff in costume. <a href="https://www.eventbrite.ca/e/fashion-scream-tickets-418384628687" target="_blank">Tickets for the fashion show are here</a>, with proceeds going to Wood Buffalo Presents.
Happy Halloween!
2022-10-05T08:03:00-07:002022-10-05T14:33:39-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:15865Buying a Vacation Home in Fort McMurray: 3 Things to Consider<img src="/userFiles/1785/image/fort-mcmurray-vacation-rentals.jpg" style="display: block; margin: 0 auto 20px auto;" alt="Are Fort McMurray Vacation Rentals a Good Investment?" />
There is an incredibly strong tourism market in Fort McMurray, as visitors flock to experience the fantastic <a href="https://www.fortmcmurrayrealestate.com/blog/best-outdoor-activities-fort-mcmurray/" title="Outdoor Activities in Fort McMurray">outdoor activities</a> awaiting them year-round. "McMurray," as the locals call it, is where investing in a vacation rental can be a wise choice.
The key to profiting while owning a second home as a vacation rental is <a href="https://www.fortmcmurrayrealestate.com/blog/how-real-estate-professionals-market-homes-for-sale/">marketing the property efficiently</a> to occupy it most of the time than keep it vacant. Here's a closer look at whether a <a href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-duplexes-for-sale/" title="Fort McMurray Duplexes For Sale">Fort McMurray vacation rental</a> is a good investment.
Short-Term Vacation Rentals Are Money-Makers
A short-term vacation rental is any property—single-family home, condo, duplex, cabin, or "other"—rented for short periods to vacationers. Leases are typically weekly or monthly and sometimes as little as daily. These properties are usually fully furnished, so it feels more like a "home away from home" to a renter than a typical hotel room. These rentals have the potential to make more money than full-time, year-round leases, assuming the vacancy rate is low enough. The per-day rental charge on a year-round lease is less money than people are willing to pay on a per-day basis for a vacation rental.
Fort McMurray's incredible outdoor environment attracts adventurers and vacationers year-round. During the warmer months, a <a href="https://www.fortmcmurrayrealestate.com/blog/fort-mcmurray-vacation-guide/">vacation in Fort McMurray</a> can include fishing, kayaking on the Athabasca River, playing golf, or hiking in the wilderness. Ice fishing, snowmobiling, cross-country skiing, and other types of adventures take over in winter.
Questions to Ask Before Buying Vacation Rental Properties
<img src="https://assets.site-static.com/userfiles/1785/image/vacation-rental.jpg" alt="There Are Key Questions to Ask About Vacation Rentals" style="display: block; margin: 20px auto;" />
While owning a vacation rental property can be a good investment, it might not be suitable for every person. Consider the following questions when purchasing a second home as a vacation property:
Does the owner have the skills to manage and maintain the property personally? This question asks whether the owner wants to be a landlord or would rather have the property professionally managed. If the owner has many handyman skills, lives close enough to the rental, and wants to be a landlord, this can be a less expensive option. Having the property managed by someone else will cost more but require less personal time and work from the owner.
Can the buyer financially handle a second home purchase? Vacation rentals are often a second home purchase for real estate investors. Therefore, they must consider whether managing a <a href="https://www.pacaso.com/blog/down-payment-second-home" target="_blank">second down payment</a> and mortgage is possible based on their financial situation. While vacation rentals can make good money, they might not be occupied at all times of the year. A buyer should have enough money to cover costs when the rental is not generating money. Mortgage lenders want proof of steady income to <a href="https://www.fortmcmurrayrealestate.com/blog/vacation-home-buying/" title="Buying a Vacation Home: Mortgage Facts You Need to Know ">lend money for a vacation rental</a>.
How far away from the rental does the owner live? The owner's proximity to a vacation rental can significantly impact how it is maintained and managed. If the owner lives too far away from the rental, they won't be able to visit it as often and check on its condition. Hiring a property management company may be an option, but it will cut into the profit margin of the vacation rental.
Ready to buy a vacation rental in Fort McMurray? View all the latest <a href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-duplexes-for-sale/" title="Fort McMurray Duplexes for Sale">Fort McMurray vacation rentals for sale</a>.
Pros & Cons of Buying a Second Home
There are upsides and downsides to purchasing a vacation rental as a second home. Buyers must carefully weigh these factors to decide whether the pros of owning a second home outweigh the cons.
Advantages of Buying a Second Home
Real estate will always be one of the best investments a person can make. The income from a vacation rental can be enough to cover the mortgage and other expenses and maybe even turn a profit as the property appreciates.
Expenses incurred on a Canadian rental property can help reduce a person's tax liability. Most property expenses on a second home can be deducted from the rental income, such as property taxes, paying a property management company, <a href="https://www.fortmcmurrayrealestate.com/blog/home-insurance/">home insurance</a>, repairs, and more. It's possible to make the rental home "pay for itself" after applying deductions and if the occupancy rate stays high enough.
No rule says a homeowner can't use a vacation rental for themselves from time to time. Using it as a "staycation" spot can allow the owner to <a href="https://www.fortmcmurrayrealestate.com/blog/what-can-you-repair-to-keep-your-home-value-from-falling/" title="What Can You Repair to Keep Your Home Value From Falling?">perform routine maintenance</a> simultaneously.
Disadvantages of Buying a Second Home
Every day a vacation rental sits empty is a day it's not generating income. Marketing the property to ensure renters as often as possible is necessary for making a profit with a vacation rental.
Renters of vacation properties expect them to be immaculate. All maintenance and cleaning of the property between renters is the owner's responsibility.
Just because a vacation rental has appreciated doesn't mean it will instantly sell when it goes on the market. Owners should prepare to pay the second mortgage if it takes a while to <a href="https://www.fortmcmurrayrealestate.com/blog/sell-vacation-home/">sell the vacation property</a>.
Vacation Rentals Can Be an Excellent Investment
Whether a vacation rental in Fort McMurray will be a good investment depends on the personality and income of the buyer. Becoming a landlord might not be the right choice for some people. But if they're ready for the responsibility, they should consider a vacation rental as an investment property.
2022-09-27T06:50:00-07:002022-09-27T08:05:09-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:15861Back to School in Fort McMurray: Your Guide to Early Ed, Public Schools & Keyano College<img src="/userFiles/1785/image/fort-mcmurray-schools-guide.jpg" style="margin: 0 auto 20px auto; display: block;" alt="Schools and School Districts in Fort McMurray" />
New arrivals in Fort McMurray will be happy to know that there is a robust educational system that has grown with the city over the years. Fort McMurray schools begin with preschool and extend through Keyano College, which allows local secondary grads to pursue careers in the oil sands. If you just purchased one of <a href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-homes-for-sale/">Fort McMurray's homes for sale</a>, be sure to familiarize yourself with the local schools and school districts.
Fort McMurray Early Education
Parents who want to enroll their children in programs before kindergarten have several preschool and early childhood education options to consider.
McMurray Montessori Academy: Located in the <a href="https://www.fortmcmurrayrealestate.com/thickwood-homes-for-sale/" title="Thickwood Homes & Real Estate">Thickwood Heights neighbourhood</a>, this Montessori school offers early child care from 1–3 years of age. It has natural play areas outdoors, hands-on learning indoors, and staff accustomed to working with small children.
Fort McMurray Montessori Preschool: Operated in the same location in Thickwood Heights, the <a href="https://fmmschools.ca/fort-mcmurray-montessori-preschool/" target="_blank">Montessori Preschool</a> is available for children aged 2–4. Typical annual enrollment is around 25 students.
Hillcrest Montessori Academy: Children from 3–6 years of age begin learning early computer skills, forestry education, organic gardening, and much more at the Hillcrest Montessori Academy.
Birchwood Academy: This Montessori summer camp educational program is available for children as young as 3.
Thickwood Heights Preschool: This preschool offers two- and three-day programs for children starting at age 3. The only prerequisite is that children must be fully potty trained before starting in one of the programs.
Early Start Learning Centre: Early Start is a private preschool serving kids from 2–4 years of age. Potty training is not a prerequisite, and all teachers are certified early childhood educators.
Fort McMurray Public School District
<img src="/userFiles/1785/image/fort-mcmuurray-public-schools.jpg" style="width: 100%; margin-bottom: 20px;" alt="Public Schools in Fort McMurray, AB" />
The <a href="https://www.fmpsdschools.ca/" target="_blank">Fort McMurray Public School District</a> governs the secular public schools in the urban service area. There are currently 12 elementary schools, four high schools, and several alternative and specialized schools. The district also supports at-home education. The elementary schools are all preschool through Grade 6 schools:
<a href="https://www.fortmcmurrayrealestate.com/schools/beacon-hill-public-school-homes-for-sale/" title="Homes For Sale Near Beacon Hill Public School">Beacon Hill</a> (Beacon Hill South neighbourhood)
<a href="https://www.fortmcmurrayrealestate.com/schools/christina-gordon-public-school-homes-for-sale/" title="Homes For Sale Near Christina Gordon Public School">Christina Gordon</a> (Timberlea neighbourhood)
<a href="https://www.fortmcmurrayrealestate.com/schools/dave-mcneilly-public-school-homes-for-sale/" title="Homes For Sale Near Dave McNeilly Public School">Dave McNeilly</a> (North Timberlea neighbourhood)
<a href="https://www.fortmcmurrayrealestate.com/schools/dr-k-a-clark-school-homes-for-sale/" title="Homes For Sale Near Dr. K.A. Clark School">Dr. KA Clark</a> (Downtown Fort McMurray)
<a href="https://www.fortmcmurrayrealestate.com/schools/ecole-dickinsfield-school-homes-for-sale/" title="Homes For Sale Near Ecolé Dickinsfield">École Dickinsfield</a> (<a href="https://www.fortmcmurrayrealestate.com/dickinsfield-homes-for-sale/" title="Dickinsfield Homes & Real Estate">Dickinsfield neighbourhood</a>)
<a href="https://www.fortmcmurrayrealestate.com/schools/fort-mcmurray-christian-school-homes-for-sale/" title="Homes For Sale Near Fort McMurray Christian School">Fort McMurray Christian</a> (Timberlea neighbourhood)
<a href="https://www.fortmcmurrayrealestate.com/schools/fort-mcmurray-islamic-school-homes-for-sale/" title="Homes For Sale Near Fort McMurray Islamic School">Fort McMurray Islamic</a> (<a href="https://www.fortmcmurrayrealestate.com/gregoire-homes-for-sale/" title="Gregoire Homes & Real Estate">Gregoire neighbourhood</a>)
<a href="https://www.fortmcmurrayrealestate.com/schools/greely-road-school-homes-for-sale/" title="Homes For Sale Near Greely Road School">Greely Road</a> (Gregoire neighbourhood)
<a href="https://www.fortmcmurrayrealestate.com/schools/thickwood-heights-school-homes-for-sale/" title="Homes For Sale Near Thickwood Heights School">Thickwood Heights</a> (Thickwood Heights neighbourhood, South Timberlea)
<a href="https://www.fortmcmurrayrealestate.com/schools/timberlea-public-school-homes-for-sale/" title="Homes For Sale Near Timberlea Public School">Timberlea</a> (central Timberlea neighbourhood)
<a href="https://www.fortmcmurrayrealestate.com/schools/walter-gladys-public-school-homes-for-sale/" title="Homes For Sale Near Walter & Gladys Hill Public School">Walter & Gladys Hill</a> (East Timberlea/<a href="https://www.fortmcmurrayrealestate.com/eagle-ridge-homes-for-sale/" title="Eagle Ridge Homes & Real Estate">Eagle Ridge neighbourhood</a>)
<a href="https://www.fortmcmurrayrealestate.com/schools/westview-public-school-homes-for-sale/" title="Homes For Sale Near Westview Public School">Westview</a> (Westview Heights neighbourhood, South Timberlea)
Every elementary school in the Fort McMurray District offers some specialized programs in addition to the core curriculum. The specialized coursework and schedules vary from school to school. For example, École Dickinsfield is the only French Immersion elementary school, and the Greely Road Public School offers the unique MicroSociety program, where children take on real-world, adult "roles" like running an in-school business or getting elected to public office.
The district maintains a complete list of specialized programs for parents to consider.
The four public high schools in Fort McMurray are:
<a href="https://www.fortmcmurrayrealestate.com/schools/ecole-mctavish-high-school-homes-for-sale/" title="Homes For Sale Near École McTavish High School">École McTavish Public High</a> (North Timberlea)
<a href="https://www.fortmcmurrayrealestate.com/schools/composite-high-school-homes-for-sale/" title="Homes For Sale Near Composite High School">Fort McMurray Composite High</a> (Downtown Fort McMurray)
<a href="https://www.fortmcmurrayrealestate.com/schools/frank-spragins-high-school-homes-for-sale/" title="Homes For Sale Near Frank Spragins High School">Frank Spragins High</a> (South Timberlea)
<a href="https://www.fortmcmurrayrealestate.com/schools/westwood-community-high-school-homes-for-sale/" title="Homes For Sale Near Westwood Community High School">Westwood Community High</a> (South Timberlea)
The boundary for École McTavish is on the north side of Timberlea, while Westwood Community High's is to the south of <a href="https://www.fortmcmurrayrealestate.com/timberlea-homes-for-sale/">homes for sale in Timberlea</a>, down to the waterfront homes along the Athabasca River. Students whose families live on the south side of the river attend Fort McMurray Composite High. Frank Spragins High School is an alternative module-based high school focused on the Registered Apprentice Program (RAP).
Fort McMurray Catholic School District
The <a href="https://fmcschools.ca/" target="_blank">Fort McMurray Catholic Board of Education</a> governs all the Catholic schools in Fort McMurray. Ten K–6 elementary schools and three high schools serve approximately 6,800 students here. The Catholic elementary schools are:
St. Martha School (Central Timberlea neighbourhood)
Our Lady of the Rivers Catholic School (<a href="https://www.fortmcmurrayrealestate.com/downtown-homes-for-sale/" title="Downtown Fort McMurray Homes for Sale">Downtown Fort McMurray</a>)
Good Shepherd School (<a href="https://www.fortmcmurrayrealestate.com/beacon-hill-homes-for-sale/" title="Beacon Hill Homes & Real Estate">Beacon Hill neighbourhood</a>)
Father Beauregard School (Hillview Park neighbourhood)
École St. Paul School (Thickwood Heights neighbourhood)
St. Gabriel School (Thickwood Heights)
Sister Mary Phillips School (West Timberlea)
St. Anne's School (Central Timberlea)
St. Kateri School (Southeast Timberlea)
Elsie Yanik Catholic School (North Timberlea)
The Catholic high schools in Fort McMurray include:
Father Patrick Mercredi Community Catholic High School (Thickwood Heights)
<a href="https://www.fortmcmurrayrealestate.com/schools/holy-trinity-school-homes-for-sale/" title="Homes For Sale Near Holy Trinity School">Holy Trinity Catholic High School</a> (Central Timberlea)
FMCSD Outreach (Thickwood Heights)
Parents of Catholic elementary school students (Grades 1–6) can pay an annual fee to enroll their children in the Yellow Bus program for transportation. Students attending Father Patrick Mercredi Community High School or Holy Trinity High School can use the Yellow Bus program or the Regional Municipality of Wood Buffalo Transit (RMWBT) system.
The Fort McMurray Catholic School District Outreach program provides both in-school and out-of-school learning for students who are at risk of failing high school.
Fort McMurray's Keyano College
<img src="/userFiles/1785/image/keyano-college.jpg" style="width: 100%; margin-bottom: 20px;" alt="Keyano College in Fort McMurray, AB" />
The <a href="https://www.keyano.ca/en/index.aspx" target="_blank">Keyano College</a> main campus is very close to <a href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-condos-for-sale/">Fort McMurray condos for sale</a> along Franklin Avenue, which border the school to the northeast, and the mixed residential neighbourhood on the northwest side of King Street. There is a secondary campus in the Gregoire Industrial Park at Suncor Energy Industrial Campus. Keyano is a four-year college and a trade school that prepares the next generation of workers for jobs in the oil sands and beyond.
The Keyano College campus has around 3,000 full-time students and approximately 5,000 part-timers. The school opened in the 1960s and changed its name to Keyano in 1975. Keyano offers 11 bachelor's degree programs across Business Administration, Commerce, Education, Science and Social Work disciplines.
Many additional disciplinary programs are offered in a variety of trades. For example, someone wanting to become an electrician can work through an Apprenticeship to Master through Keyano College. Many of the trades and skills offered are directly related to jobs in the oil sands, such as the Heavy Equipment Technician program, Pipefitter and Steamfitter programs, and Power Engineering.
Keyano has an on-campus theatre that regularly brings in concerts by some of the biggest musical acts in Canada. Huskies athletics teams include college-level volleyball, basketball, cheer, cricket, soccer and futsal. Sponsors of the school hand out hundreds of thousands of dollars worth of scholarships to local Fort McMurray students every year to attend Keyano.
Lifelong Learning in Fort McMurray, AB
Schools are an important part of choosing somewhere to live. Thankfully, those who <a href="https://www.fortmcmurrayrealestate.com/blog/moving-to-fort-mcmurray/">move to Fort McMurray</a> will find plenty of options. From preschools to public and Catholic schools to Keyano College, every household in Fort McMurray can get an education.
2022-09-26T10:58:00-07:002022-12-19T08:03:23-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:13228Should You Live in Your Investment Property? Investing Tips For Multi-Family Real Estate<img src="/userFiles/1785/image/live-in-own-rental.jpg" style="display: block; margin: 0 auto 20px auto;" alt="Should You Live in Your Own Rental Home" />
Owning a multi-family property is one of the best ways to invest in real estate and earn passive income. Some owners even choose to occupy one of the <a href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-condos-townhomes-for-sale/" title="Condos & Townhouses For Sale in Fort McMurray, AB">condos and townhomes</a> or <a href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-duplexes-for-sale/" title="Fort McMurray Duplexes For Sale">duplexes</a> in their investment properties. Living in a multi-family property has advantages and disadvantages for the owner, whether it is a duplex, a triplex, a guest house, a garage apartment, or some other former form of rental. A big question is whether it is wise for the owner to live on the same property as their renters. Keep reading to learn about the pros and cons of living in your investment property as a landlord.
Pros of Living in an Investment Property
There are several benefits for owners who choose to live in their multi-family property. This includes some attractive financial incentives, simpler mortgage payments, and easy access for those who choose to be "hands-on" landlords.
Owner-Occupant Financial Benefits
Under Canadian law, buildings with one to four dwelling units are considered residential in terms of zoning. Buildings with five or more units are considered commercial property. If an owner chooses to live in a commercial unit as their primary residence, it dramatically impacts the down payment required for a <a href="https://wowa.ca/rental-property-mortgage" target="_blank">rental property mortgage</a>.
If an investment property is going to be non-owner occupied, meaning the owner will not live in one of the units as their primary residence, the required down payment will be 20 percent. If the property will be owner-occupied, the down payment can be as low as 5 to 10 percent. This is a dramatic financial incentive for anyone considering purchasing an investment property and living in one of the available units.
The number of units in a property owner-occupied determines whether the down payment will be 5 or 10 percent. In properties with one or two units, the down payment is 5 percent; in properties with three or more units, the down payment will be 10 percent.
Simpler Mortgage Payments
In a non-owner-occupied investment property, the owner has to make two separate mortgage payments for their primary residence and a second for the investment property. Living in a unit in the investment property simplifies this by reducing the situation to a single mortgage payment. This can often be easier for some owners to make the mortgage payment, and it requires less time to make a single payment to a single lender.
It is also highly likely that an owner-occupant will be able to secure a lower interest rate from the lender on their mortgage compared to a non-owner-occupied investment situation.
Hands-On Landlords Have Easy Access
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This advantage comes down to the landlord's personality. Some landlords like to be more hands-on in the day-to-day goings-on in their investment property, while others prefer to be hands-off. If an owner is a hands-on type, they are more likely to enjoy this living arrangement.
If an owner's primary residence is in the investment property, they are right there in case of an emergency. Tenants are much more likely to avoid having rowdy parties, and the owner is quickly available in an emergency that requires repairs. An owner-occupant can quickly assess the amount of damage in an emergency, such as a burst pipe or a failed HVAC system, and quickly call a specialist for repairs. If an owner does not live on-site, it can be difficult even to assess the urgency of a situation.
Living On-Site Gives Homeowners Experience in Property Management
Living in your rental property can be a great first step to starting a career as a landlord. Homeowners who rent out their property to other people can gain valuable hands-on experience in property management. This experience can be extremely helpful for homeowners interested in going into property management or wanting to invest further in real estate.
Managing a property involves a lot of responsibility, from keeping the property in good repair to collecting rent and responding to tenant requests. Homeowners who are able to handle these responsibilities effectively can earn a good reputation in the rental community and make it easier to find future tenants. In addition, managing a property can also be a great way to meet new people and build relationships with other landlords and industry professionals.
Cons of Living in an Investment Property
While there are some great financial and personal reasons to become an owner-occupant of a multi-family property, it also has its downsides. The easy access that hands-on landlords enjoy can work both ways, for example, limiting the owner's privacy and personal time. The owner's tax situation can also become a bit complicated. Here is a closer look at these two "cons" of being an owner-occupant.
Easy Access Goes Both Ways
While a hands-on landlord can have easy access to the property and neighbours in a life-in situation, the tenants have easy access. A landlord will typically know a lot of personal information about tenants who live next to them and vice versa. Owners who appreciate personal privacy may not enjoy the proximity of their tenants in every situation.
It's also an unwritten rule that tenants expect the owner to abide by the same rules as them in the interests of fairness. If the owner stipulates, for example, that tenants cannot have loud parties that last until 1 a.m., tenants expect the same respect and treatment from the owner. Whether a landlord personally likes or dislikes a tenant is not relevant because this is ultimately a business relationship. Owner-occupants must maintain a level of professionalism to have a successful relationship with a tenant. When it comes to repairs, the owner's DIY skills need to be more advanced than mere proficiency with <a href="https://www.fortmcmurrayrealestate.com/blog/essential-tools-every-homeowner-should-keep-in-their-toolbox/">essential tools for homeowners</a>.
Taxes Can Become Complicated
Under <a href="https://turbotax.intuit.ca/tips/tips-for-renting-out-your-house-6375" target="_blank">Canadian tax laws for rentals</a>, an owner-occupant's tax situation can quickly become very complicated. This can be a double-edged sword in many ways for the owner. For example, shared spaces in the property, such as a communal laundry room, maybe deductible under the Income Tax Act. If the owner provides WiFi or cable to every unit on the property, that could also be deductible. Meanwhile, the owner must carefully track all rental income versus expenses.
The complexities of what can and cannot be deducted may require the assistance of an accountant or other tax professional. Owner-occupants must also become meticulous record-keepers to track all expenses accurately.
Build Equity and Earn Income With Multi-Family Properties
The down payment and other incentives can inspire many people to <a href="https://www.fortmcmurrayrealestate.com/blog/when-to-stop-renting-and-buy-a-home/">stop renting and buy a home</a>. This is an excellent way for many investors to own real estate. However, the pitfalls of the process should also be carefully considered upfront. Living in a multi-family dwelling is not a good fit for everyone, so weigh these pros and cons carefully while considering the options.
2022-09-14T07:10:00-07:002022-09-14T07:48:57-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:134255 Tips for Choosing a New Construction Home Builder [2023]<img src="/userFiles/1785/image/choosing-new-construction-builder.jpg" style="display: block; margin: 0 auto 20px auto;" alt="Tips for Choosing a New Construction Home Builder" />
Having a home built from the ground up is highly appealing for many homebuyers. Many genuinely want to be a part of the process, assisting in their property's architectural design, floor plan, and features. A <a href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-new-construction-homes-for-sale/" title="Fort McMurray New Construction Homes For Sale">new construction home</a> is a preferred choice for those who want a custom home without renovating a pre-owned or model home.
However, not all home builders are the same. Therefore, it's essential to choose the right one to achieve the desired results. This process will require some time and research, but doing the due diligence can mean realizing a dream home. Keep reading to learn what to look for when choosing a new construction home builder.
Ask Potential Builders Questions—Lots of Questions!
Good builders ensure that buyers get the home they envision, and custom builds have nearly unlimited possibilities. Top builders will not only assist buyers in achieving their vision, but they will also be transparent and ready to answer questions clearly and concisely. After all, in addition to building the home, they will want clients to be as comfortable as possible with their investment and decision in choosing them as a trusted builder.
Buyers can never ask too many questions when interviewing new home builders, as this is a major purchase. Some things to inquire about during interviews may include:
What kind of structural and appliance warranties comes with the purchase?
Do you offer in-house financing?
What's included in the final price, and what are considered extras?
Can you work with my preferred architect or interior designer?
What relationship do you have with the current subcontractors you will be working with? Are they reputable and reliable?
Who will supervise the project daily?
How available are you when questions or concerns arise?
What is the expected timeline for the project?
Read Reviews & Referrals & Talk to Previous Customers
Reputation is everything in the new home construction industry, and so is a builder's completion rate. It's easy to investigate a builder's reputation by searching reviews for contractors. Remember, contractors will likely have reviews from satisfied customers and some from those who experienced challenges. Look for trends in reviews where complaints are concerned. Repeated bad reviews for the same issues could be a red flag.
Another good way to get an idea of their work is to call the builder's referrals and visit one of their other developments. If possible, talk to a few homeowners who are previous clients. Find out how satisfied they are overall with their home. Inquire whether the builder used quality materials and was committed to making things right from the start. If there were issues, find out how quickly the builder took action to resolve them.
Check out local home builders' websites, too. One of the top places to search is on the BILD website. Find out if your agent has previously worked with the builder or is aware of their reputation, as they likely have some insider knowledge.
The Builder Focuses On Quality Over Quantity
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Unfortunately, there are builders out there who want to make the most profit possible and often take on more jobs than they can handle, leading to poor workmanship, using lower-quality materials, and more incidences of structural and system defects.
Consider the number of homes completed annually to the number of members on their construction and design teams. It might be wise to keep looking if the team numbers are relatively low versus the number of contracts they take on. Try to find a builder with fewer completed projects who has enough members in their dedicated team that promises high-quality results.
The best builders who take on fewer jobs are known for choosing stronger materials and taking more time to perfect craftsmanship and detailing. Furthermore, they tend to take more care when ensuring the materials are adequately protected from theft and the elements during the build.
Top Builders Have All The Proper Paperwork In Order
While many provinces don't require contractors to be licensed, Quebec and British Columbia are two that do require <a href="https://www.alberta.ca/builder-licensing.aspx" target="_blank">licensing for residential builders</a>. Homebuilders who specialize in constructing single-family or multi-family homes with up to four units will ideally have a Class A contractors license whether it's required or not.
Having official licensure helps buyers feel more confident in a builder. Additionally, only a licensed contractor can apply for the proper building permits for new home constructions in provinces such as Alberta. In most cases, builders must prove to have a new home warranty provider to cover the structure and specific installed systems for a set period when obtaining a license.
Canadian home builders must have current construction liability insurance and workers' compensation to protect the worksite and those who work on the project, should they get injured on the job. Buyers will also want to obtain a clear and concise written contract with the builder.
Pay Careful Attention to Builder Portfolios
When deciding on a home builder for a new construction home, buyers need to consider the builder's portfolio. The portfolio will provide insight into the builder's experience, skillset, and quality of work. A well-established builder will have a robust portfolio that showcases a variety of styles and construction types. This is important because it shows that the builder is adaptable and has the ability to meet the buyer's needs.
The builder's portfolio should also include information about the scope of work in addition to the photos of past projects. This allows buyers to get a sense of the builder's attention to detail and level of craftsmanship. You can also compare how many projects are shown in their portfolio to how many reviews the company has. If there are hundreds of reviews but only a few projects pictured in their portfolio, this could be a red flag that requires further research.
By taking the time to review the builder's portfolio, buyers can make an informed decision about which contractor is right for their new construction home.
Considering Building a New Construction Home in Canada?
Once you find a great agent to represent your interests during the home buying process, the journey begins to seek out a superior new home construction contractor. While an agent can be a tremendous help in the search, buyers should also do their research using these pro tips.
2022-09-06T08:30:00-07:002022-11-02T06:19:09-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:95205 Things Fort McMurray Is Known For: Fort McMurrary History & Fun Facts<img src="https://assets.site-static.com/userfiles/1785/image/fort-mcmurray-fun-facts.jpg" style="margin: 0 auto 20px auto; display: block;" alt="What is Fort McMurray Known For?" />
Located in northeast Alberta, Fort McMurray is home to over 70,000 people. Not officially designated a city, this "urban service area" is surrounded by vast picturesque boreal forests filled with wildlife. Fort McMurray is also at the heart of the Athabasca Oil Sands and has played an instrumental role in Canada's petroleum industry.
Over the years, the <a href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-homes-for-sale/" title="Fort McMurray Homes For Sale">Fort McMurray area</a> has attracted many people to visit for outdoor pursuits and to put down roots. Learn more about the corner of the world known as "the heart of Canadian oil production" and affectionately referred to as Fort Mac.
Fort McMurray & the Athabasca Oil Sands
Fort McMurray is a former oil boomtown centred on large deposits of highly dense crude oil known as the Athabasca Oil Sands. Sometimes also referred to as the Athabasca tar sands, these deposits make up the largest known collection of crude oil, or bitumen, in the entire world. Oil sands are a mixture of soil, clay, minerals, water, and bitumen. The extremely viscous bitumen must be processed before it can be used to make fuel and diesel.
The Athabasca Oil Sands is one of three within the province of Alberta, which has significant, long-standing ties to the oil and gas industries. Fort Mac is one of Canada's largest hubs of oil production, with the second-largest oil reserves in the world. Locals and visitors can learn more about the <a href="https://www.fortmcmurrayrealestate.com/blog/whats-the-history-behind-fort-mcmurray/" title="What's the History Behind Fort McMurray?">area's history</a> at <a href="https://oilsandsdiscovery.ca/visit" target="_blank">The Oil Sands Discovery Centre</a>, a must-see for those looking for <a href="https://www.fortmcmurrayrealestate.com/blog/fort-mcmurray-things-to-do/">things to do in Fort McMurray</a>.
Unsurprisingly, oil is by far the dominant industry in <a href="https://www.fortmcmurrayrealestate.com/blog/fort-mcmurray-economy/">Fort McMurray's economy</a>. Major employers include the following petroleum companies:
Stantec
Syncrude
Suncor Energy
Canadian Natural Resources Limited
Shell
CNOOC Petroleum North America ULC (formerly Nexen)
Imperial
Demand for housing is high in Fort McMurray, primarily because so many people relocate to the area for oil and gas-related jobs. One pleasantly surprising thing about living in Fort Mac is that, despite the area's in-demand housing, <a href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-condos-townhomes-for-sale/" title="Fort McMurray Condos & Townhomes For Sale">condos and townhomes</a> are generally less expensive than those in major cities such as Toronto and Vancouver.
Get the Best View of the Northern Lights
<img src="https://assets.site-static.com/userfiles/1785/image/northern-lights.jpg" alt="View the Northern Lights in Fort McMurray" style="display: block; margin: 20px auto;" />
The Athabasca Oil Sands may be the biggest draw to Fort Mac, but it's certainly not the only thing to see in town. Fort McMurray is one of the best places in the world to view the Northern Lights. Formally known as aurora borealis, these dynamic patterns of colourful bright light often appear as curtains, rays, or spirals.
Fort McMurray is within easy driving distance of two notable national parks for catching the aurora or general stargazing. <a href="https://www.pc.gc.ca/en/pn-np/nt/woodbuffalo" target="_blank">Wood Buffalo National Park</a>, Canada's largest and second-largest worldwide, is home to the world's largest International Dark Sky Preserve. Elk Island National Park, near Edmonton, is another fantastic spot for watching the sky. It's also an important wildlife refuge, home to one of Canada's largest elk herds and many Plains bison, which were once near-extinct. For those interested in a guided tour to view the Northern Lights, several local outfitting companies operate out of Fort McMurray, including Alta-Can Aurora Tours Inc.
The best times to view the Northern Lights are during the cooler months, from early fall through early spring — but environmental factors have to be just right. Book a trip for a few days to give yourself ample time to catch these breathtaking displays. Wear warm clothes and bring some patience — the experience is well worth it.
Fort McMurray Is a City That's Not a City
Although several residents and local media outlets refer to Fort McMurray as a city, it's technically an unincorporated community known as an urban service area. It is the largest in Alberta and is recognized as a city for the sake of laws related to public infrastructures, such as roads, highways, drains, and culverts. An official city until 1980, Fort Mac became designated an urban service center in 1995 when it merged with Improvement District No. 143 to become what is now known as the Regional Municipality of Wood Buffalo.
Despite its name, Fort McMurray was never an actual fort. The Hudson's Bay Company established a post in the area in 1870 and named it for chief trader William McMurray. In 1947, Fort McMurray and the nearby <a href="https://www.fortmcmurrayrealestate.com/waterways-single-family-homes-for-sale/" title="Waterways Single-Family Homes For Sale">Waterways community</a> integrated and became the village of McMurray for the next 15 years.
During that time, McMurray was incorporated as a town in 1948. The "Fort" in its name was restored in 1962 to reflect the area's history. Fort McMurray was later incorporated as a new town, an urban municipal designation no longer in use. It retained this status until September 1, 1980, when it was incorporated as a city.
Experience the Outdoors in Amazing Ways
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As if the Northern Lights and proximity to two spectacular national parks aren't enough, Fort McMurray and the <a href="https://www.fortmcmurrayrealestate.com/wood-buffalo-homes-for-sale/" title="Wood Buffalo Homes For Sale">Wood Buffalo regional municipality</a> have a lot to offer to outdoor enthusiasts, thrill seekers, and nature lovers. Surrounded by dense boreal forest, the area features over 130 kilometres of multi-use trails for nature walks, more challenging hikes, cross-country skiing, cycling, and more. Other locations for outdoor fun include:
Athabasca Sand Dunes: Sightseeing tours, off-roading in all-terrain vehicles, and hiking
Birch Mountain Outfitter: Comfort camping, fishing, hunting, and ATV activities
McMurray Aviation: Guided aerial tours that cover the city, the oil sands, and Fort Chipewyan with aircraft that can land on either water or the ground
<a href="https://phoenixheliflight.com/" target="_blank">Phoenix Heli-Flight</a>: Customized tours of Fort Mac and the oil sands, including work camps associated with significant oil and gas companies such as Suncor and Syncrude
Adventure Awaits in Fort McMurray
Fort McMurray has much to offer visitors and residents alike. Come for career opportunities in oil and gas and stay for the natural beauty of over 60,000 square kilometres, including lush boreal forest, sand dunes, and other natural areas for open-air exploration. Appreciate the splendour of the Northern Lights and see all that northeastern Alberta offers.
2022-08-29T06:49:00-07:002022-08-29T07:48:29-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:13548New Construction Home Pros & Cons: What to Know Before Buying<img src="/userFiles/1785/image/pros-cons-new-construction.jpg" style="display: block; margin: 0 auto 20px auto;" alt="Pros and Cons of Buying New Construction Homes" />
The freshness, newness, and satisfaction of being the first to reside in a <a href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-new-construction-homes-for-sale/" title="Fort McMurray New Construction Homes For Sale">new construction home</a> make them rather appealing to homebuyers. However, before wholly committing to such a project, buyers need to realize that more time and effort goes into new and custom-built homes. Keep reading to learn about a few pros and cons of new construction before signing a contract.
The Advantages of Buying New Construction
Let's begin with what makes a brand new home so remarkable. When designing the interiors of such properties, buyers can make customizations, giving them more choices and the privilege of being the first owner. Buying a new construction home also allows for upgrades to be factored into <a href="https://www.fortmcmurrayrealestate.com/blog/buying-a-home-for-the-first-time-a-guide-to-mortgages/">home mortgage payments</a>.
Buyers Can Partially or Fully Customize a New Home
<a href="https://www.superbrokers.ca/library/glossary/term/semi-custom-home" target="_blank">Semi-custom homes</a> are typically located in <a href="https://www.fortmcmurrayrealestate.com/blog/the-first-master-planned-community-in-fort-mcmurray/" title="The First Master-Planned Neighbourhood in Fort McMurray">master-planned neighbourhoods</a>, while a ground-up construction home is likely to be just about anywhere the buyer has property. In the case of fully custom homes, the sky is almost always the limit, whereas semi-custom homes may only have specific options when personalizing features.
Semi-custom builds are often presented as model homes in a community, which may be committed to streamlining architecture to ensure continuity in style, design, and exterior facades. However, most builders and their agents are amenable to swapping out or installing features that most often include:
Room additions or expansions
Upgrading flooring
Installing spa-like bathroom features
Customized cabinets & built-in storage
Kitchen appliance & countertop upgrades
New construction homes that are completely custom-built allow buyers to have almost every dream realized in the finished results. One can let their imaginations stray to the limits without coping with time-consuming, costly renovations that might be necessary for a previously owned home.
Enjoy the Pride of Being the Home's First Owner
Undoubtedly, having a brand new home brings buyers a sense of pride and confidence, which isn't always the case with a pre-owned home. A new home is fresh, clean, and in perfect condition.
There will be no concerns about <a href="https://www.fortmcmurrayrealestate.com/blog/what-type-of-hazards-might-you-find-in-your-home/">home hazards</a> or harmful materials like lead paint or asbestos. There will be no chance of having holes in walls from previous damage or hanging up decorations, which can leave unsightly patchwork.
Sometimes, previous owners try to do complex work themselves without proper permits from the city, and <a href="https://www.fortmcmurrayrealestate.com/blog/unpermitted-work-remediation/">fixing un-permitted work</a> can cost owners big bucks to correct. Another concern that won't exist in a new construction home is <a href="https://www.fortmcmurrayrealestate.com/blog/what-you-can-do-about-deferred-home-maintenance/">deferred maintenance</a>, as all systems, appliances, and the entire house will be pristine.
New Homes Use the Newest Tech
Another area where new-construction homes have an edge over pre-built homes is the technology used in the home. With new homes, buyers can choose from a variety of smart features that can make their lives easier and more efficient.
For example, many new homes come with programmable thermostats that can be controlled remotely, as well as energy-efficient appliances that can help save money on utility bills. In addition, new homes are often built with the latest safety features, such as smoke detectors and security systems. While pre-built homes may eventually be updated with these same features, new construction homes offer the benefit of being up-to-date from the start.
What to Know Before Buying a New Construction Home
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While it's well worth the time and effort to invest in a new construction home, there may be a few hiccups. In approaching negotiations, buyers will need to take a different approach than pre-owned homes. Here are a few key things to be aware of before buying a new construction home.
Patience Is the Key
There is greater potential to experience a few building delays in Canada, especially when projects are slated during cold weather months. For example, if a heavy snowstorm blows through the area, roads may become impassable for workers and material suppliers, adding weeks to the project—particularly in rural areas.
Time delays can also result from challenges in obtaining the proper building permits and insurance coverage to protect builders, buyers, and employees during the project. Another consideration is that buyers wanting unique <a href="https://www.fortmcmurrayrealestate.com/blog/new-construction-building-technologies/">construction materials and technologies</a> or a few complex upgrades may experience longer build times. There could also be supply chain shortages that cause long waits for specific materials.
According to the <a href="https://www.chba.ca/" target="_blank">Canadian Home Builders Association</a>, new home construction projects take between 6 and 10 months to complete the average home. However, this estimate is with the expectation that everything will run smoothly throughout the build. So, buyers should be patient, <a href="https://www.fortmcmurrayrealestate.com/blog/choose-new-construction-home-builder/">choose the best home builder</a>, and prepare for a few delays.
Approach Negotiations From a Different Angle
While a resale home has a listing price, that figure is often negotiable with sellers eager to move on. They may make concessions on the listing price due to flaws discovered in <a href="https://www.fortmcmurrayrealestate.com/blog/what-should-your-home-inspection-cover/">home inspections</a> or if the property is getting cold on the market.
With new custom or semi-spec homes, this isn't usually the case. Builders and agents aim to keep property values in the community as high as possible to ensure the neighbourhood remains desirable for both buyers and current owners.
Knowing that pricing negotiations are unlikely, savvy buyers can use a different approach with selling agents and builders when investing in their new home. Rather than asking for a financial discount, negotiate to have complimentary upgrades such as high-end appliances, designer cabinets, or premium flooring or countertops during the design phase.
Model Homes Are More Expensive Than Advertised Homes
When looking at those colourful brochures or viewing model homes online, be aware that what you see as the listing price most likely doesn't include upgrades. These upgrades are usually included in a community's model home and aren't part of the listed base price. Inquire during tours what specifically in place constitutes upgrades and how much they add to the bottom line price of the home.
Make a Dream Home Possible With New Home Construction
Buyers can get the final results in their new home by working closely with architects, builders, and designers. However, they should prepare to wait at least a few months or even longer—but their patience will pay off! Be sure to carefully research builders, don't rush into the project, and have a vision in mind before meeting with contractors.
2022-07-27T07:30:00-07:002022-07-27T09:19:26-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:138415 Best Outdoor Activities in Fort McMurray: Explore Alberta's Beauty<img src="/userFiles/1785/image/outdoor-activities-in-fort-mcmurray.jpg" style="margin: 0 auto 20px auto; display: block;" alt="Best Outdoor Activities in Fort McMurray" />
The <a href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-homes-for-sale/" title="Fort McMurray Homes For Sale">Fort McMurray area</a> has a lot to offer, especially for those who prefer spending their free time in the great outdoors. In town and within an hour's drive, there are plenty of parks, hiking, and biking trails to explore and commune with nature. In warmer months, many people head to one of the area's spectacular golf courses, while winter brings about opportunities for snowbound excursions.
Of course, a highlight for locals and visitors in Fort McMurray is heading outdoors to catch glimpses of the famous Northern Lights from October to March. Read on to uncover some of the best outdoor activities in Fort McMurray.
Fort McMurray Parks
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There are too many parks in Fort McMurray to cover them all here, but there is a handful that residents and visitors alike shouldn't miss. One of the most visited in the area is Wood Buffalo National Park, the largest national park in Canada and the second-largest in the world, with an area spanning a massive 44,807 km². Wood Buffalo National Park is also the largest dark-sky preserve in the world and is the most ecologically complete example of the Great Plains-Boreal grassland ecosystem.
Lions Park is the most popular place to play in Fort McMurray. Centrally located and featuring a river running through the scenic backdrop, this public space has much to brag about. Within Lions Park, there is a large clubhouse, a disc golf course, and an impressive playground. The colourful mural spanning the bridge was created by Canadian-based artists and showcases subjects unique to the area. One can walk across the bridge and be right at the entryway to Heritage Village.
Gregoire Lake Provincial Park is a haven for outdoor enthusiasts and offers visitors the chance to enjoy the day at the park's beach, cruising the water on the lake, strolling the nature-filled trails, and then staying the night beneath the stars. <a href="https://www.albertaparks.ca/parks/north/gregoire-lake-pp/information-facilities/" target="_blank">Gregoire Lake Provincial Park</a> is open year-round and popular for both summer and winter enjoyment. Some of the amenities and activities here include:
Camping
Canoeing and kayaking
Front-country hiking
Horseshoes
Power-boating
Sailing and wind-surfing
Swimming
Fishing and ice fishing
Off-site snowmobiling
Fort McMurray Hiking & Biking Trails
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Looking for places to walk, jog, hike, and bike? Quite a few remarkable trails are situated in and near Fort McMurray. The Wood Bison Gateway is 27 kilometres north of the city's heart and is where hikers and bikers can hit the Matcheetawin Discovery Trails and the Sagow Pematosowin Trail. Together, they create a four-kilometre interpretive trail system and offer visitors the chance to view several types of reclaimed land, including spruce, aspen, and jack pine forests to wetlands and grasslands.
Within MacDonald Island Park, where the Athabasca and Clearwater rivers meet, visitors can learn and explore nature and art along the <a href="https://www.macdonaldisland.ca/programs/total-aboriginal-interpretive-trail" target="_blank">Aboriginal Interpretive Trail</a>. This beautiful trail features two public artworks along the riverside pathway representing the values of the First Nation and Metis communities and showcases installations by western Canadian artists and school children. Admission is free, and the trail is open year-round.
The Birchwood Trails are intertwined amid 135 kilometres of space through Boreal forestry. Visitors walk, run, bike, cross-country ski, and inline skate along well-groomed trails. There are multiple surfaces to choose from, including asphalt, gravel, and natural trails. Numerous access points are available, but most start from the Doug Barnes Cabin beside 190 Tamarack Way.
Golf Courses in Fort McMurray
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The official golfing season in Fort McMurray runs from May through October, and days with good weather are perfect for booking a tee time at one of the top local golf courses around the area.
The Miskanaw Golf Club is nestled in a forest setting. Originally only planned to be a three-hole course with a driving range, it is now a premier golf club with a beautiful 18-hole course. Rates are $105 and under and include a cart rental. Private, semi-private, and group lessons are taught by a CPGA certified instructor, and lessons include a club fitting.
Located along the banks of the Athabasca River, players can soak in the fantastic scenery along the 18-hole course at the <a href="https://www.fortmcmurraygolfclub.com/" target="_blank">Fort McMurray Golf Club</a>. Ranked by The Edmonton Sun as one of the must-play golf courses in Alberta, bookings for tee times go fast here. The large greens have varying degrees of undulation, and players will face challenges like creek beds, steep valleys, and water hazards.
Those seeking a newer course will want to check out the RotaryLinks at the Wood Buffalo Golf Club. Featuring 18 challenging holes, the course is sure to challenge all levels of golfers. The fairways are wide and inviting, yet players will be tested by numerous tricky water features and massive muskeg mounds throughout the course.
Winter Activities in Fort McMurray
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Wintertime in Fort McMurray is thrilling to snow sports enthusiasts but is also known for one specific feature unique to the region: the Northern Lights. From September to May, onlookers have the chance to see the skies come to life in colourful waves and flashes. Make an evening of it with Alta-Can Aurora Tours, who provide viewers with snacks, drinks, and a short presentation before the lights ignite the sky.
Now, back to those thrilling snow activities. Downhill skiing, snowboarding, tubing, snowshoeing, snowmobiling, skating, and dog sledding keep locals and visitors revelling throughout the winter. The Birchwood Trail System is a first-rate place for cross-country skiing, boarding, and skate skiers. Wildlife is plentiful along the trail, and nighttime skiing is popular here, too.
Snowshoe, ski, or snowboard along the Abasand trails and glide down into a pristine valley flanking the Horseshoe River. Visitors can enjoy the best views of The Outcrop, so don't forget a camera.
Those seeking an adrenaline rush will want to check out Mush McMurray. There's nothing more thrilling than taking a sled dog tour with award-winning musher Christina Traverse.
Want to do it all without the mountain setting? Head to <a href="https://www.vistaridge.ab.ca/" target="_blank">Vista Ridge All Seasons Park</a>, which offers different attractions in summer and winter. Wintertime sees a large ski hill come to life with six modern lifts. Each course has a variety of difficulty levels, ranging from beginner to experienced. Non-skiers and those looking to mix things up can cruise around at the community ice rink at Vista Ridge or take a glide down the hill at the five-lane tube park.
Other Fort McMurray Outdoor Activities
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Let's check out a few additional activities and outdoor <a href="https://www.fortmcmurrayrealestate.com/blog/fort-mcmurray-things-to-do/">things to do in Fort McMurray</a>. The Syncrude Giants of Mining is an outdoor exhibit of industry-related equipment. Open year-round, viewing the massive machinery on display is free. It's even interesting to those without particular knowledge of the oil and gas industry.
<a href="https://fortmcmurrayheritage.com/" target="_blank">Fort McMurray Heritage Village</a> encompasses several historical buildings and is a literal walking tour through history. Each building invites visitors to learn about different aspects of Fort McMurray's past and shares the stories of earlier residents. There are several unique installations, including the Fort McMurray Marine Park Museum, where visitors can learn about the history of barges, ships, and trains within the region and view some in person. The park is open year-round, and donations are appreciated even though there's no admission fee. This village is a must-see for <a href="https://www.fortmcmurrayrealestate.com/blog/fort-mcmurray-vacation-guide/">Fort McMurray vacationers and staycationers</a> alike!
Fort McMurray Is an Outdoor Paradise Year-Round
Whether it's sunny and warm or the snow is falling, Fort McMurray has many outdoor activities and attractions to indulge in throughout the year. Locals can take advantage of the parks and trail systems for easy hiking, biking, snowshoeing, and skiing, or head out for a round of golf or visit the museums in Heritage Village. Come and find out why so many outdoor lovers call Fort McMurray home!
2022-07-12T10:31:00-07:002022-07-12T11:51:20-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:13835Househacking Vs Multi-Family Investments: Should You Convert Your Home For Renters Or Buy a Rental Property?<img src="/userFiles/1785/image/convert-sfh-home.jpg" style="display: block; margin: 0 auto 20px auto;" alt="Should You Convert Your Single-Family Home into a Multi-Family?" />
Investing in multi-family property could be lucrative. Imagine the benefit of collecting rent from one or more people living on the property, which could help to cover the mortgage payment. Converting it into a multi-family property like a <a href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-duplexes-for-sale/" title="Fort McMurray Duplexes for Sale">duplex</a> could be an option for those purchasing a larger home or one with a large walk-out basement, which would mean creating separate living areas that function independently. Doing this may be beneficial, especially if the area has a high rental demand. Before making this big decision, consider the following questions when converting your current home into a multi-family property.
Can the Current Home Be Subdivided?
One of the first things to consider is whether or not it is allowable to subdivide the property and rent out a portion of it. Dividing a home in a community with a homeowners association is most likely against the community's bylaws. Therefore, it's important to research any limitations on this before moving forward.
Even for those not living in a community with an HOA, it's necessary to ensure all changes to the property comply with local building codes set by the city. Factors such as the infrastructure and density may influence the city's willingness to allow for such a conversion to rental property. It's often best to speak with the city building department to determine what restrictions may apply because these differ significantly from one area to the next.
Then, consider the existing home carefully. Is it possible to divide this space to allow for separate and complete living areas? A key to consider is if there's enough space to dedicate to bathrooms, a kitchen, bedrooms, and a living room. How would this configuration happen?
Consider the additional need to separate utilities so that it is possible to determine how much of the utilities belong to each renter. This may be more challenging than expected, especially for those who plan to have <a href="https://www.rentdrop.io/blog/does-rent-include-utilities" target="_blank">renters pay their utilities</a>.
What's Involved with Converting a Single-Family Home into a Multi-Family Property?
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Many factors play a role in converting a <a href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-single-family-homes-for-sale/" title="Fort McMurray Single-Family Homes For Sale">single-family home</a> into a multi-family property. Typically, it's best to consider factors such as the money involved, the labour costs of the project, and any significant upgrades to the home necessary to do so.
Average Costs
Perhaps the most common conversion of a single-family home into a multi-family property is through a duplex design. A duplex offers space for two separate units, providing an opportunity for the owner to <a href="https://www.fortmcmurrayrealestate.com/blog/should-you-live-in-your-multiplex/">live in one unit of their rental property</a> and rent out the other, a common strategy for saving money on housing costs. This configuration could be a side-by-side or an up-and-down style duplex.
When it comes to the average costs, many factors play a role in this. Converting a single-family home into a duplex typically costs between $90,000 and $100,000, depending on the current structure of the property. This cost represents the conversion of the basement into a separate unit.
There may be additional costs, such as up to $5,000 to expand the driveway, $5,000 for permitting with drawings, and around $30,000 to update the main floor. If significant repairs are necessary to the existing structure, such as the roof or heating system, that could increase the costs.
Converting one property into a multi-unit property with three or more units will double the costs (or more) depending on the available space.
The key in all situations is to create a space for each unit that is safe and livable, which will ultimately determine if the city will allow for renters and if people want to live there. Upgrades to ensure it meets local demands for <a href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-luxury-homes-for-sale/" title="Fort McMurray Luxury Homes For Sale">luxury property</a> or higher-end finishes may extend that cost even more so.
Taxes & Finances
Changing a property's use and function will likely shift a mortgage lender's terms and conditions. Sometimes, mortgage lenders must be notified about such changes long before they get underway. To a lender, having two people living at the property may increase the risk of damage to the property to the lender. While this is unlikely to change a current mortgage, future loans on the home may be impacted, such as if the homeowner plans to secure an <a href="https://www.firstfoundation.ca/mortgage-glossary/equity-loan/" target="_blank">equity loan</a> to pay for the costs of renovating.
More so, it may change the property's tax status, including how the property taxes are levied, as well as how much is owed. Because part of the property is an investment, that may mean losing some of the standard tax deductions on the property. However, it may allow for deducting costs such as utilities, HOA fees, insurance, and maintenance costs on that investment.
In many cases, the conversion will add value to the property, which creates equity depending on how much is borrowed to handle the conversion. That could provide the homeowner with some financial security. Securing a steady income from that property is also valuable and may also be to future owners.
Does Converting Your Home Make Sense For You?
There's much to think about during this process. Ultimately, property owners have to determine what is best in their situation. Do home prices now in the area warrant the upgrade? Are rental properties in the area already vacant and struggling to find renters, or is there ample demand? How many <a href="https://www.fortmcmurrayrealestate.com/blog/choose-between-duplex-triplex-multiplex-sizes/">units can the property owner successfully manage</a>? Consider what area rental prices are and if that is enough to cover any additional costs put into the home, such as loan payments, tax adjustments, and other investments made to convert it. Additionally, determine if it will remain owner-occupied or if the current resident plans to move to another home creating two (or more) rental units.
There's a Great Deal to Consider in Conversions
Single-family home conversion can be complex. That is why it is often beneficial to speak to a general contractor in the area to get insight into the options. Talk to lenders about financing such a project after receiving the go-ahead. All of these factors combined play a role in the outcome of such a project.
2022-07-11T13:08:00-07:002022-07-14T06:45:12-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:135905 Interior Decorating Tips For Your New Construction Home<img src="/userFiles/1785/image/new-construction-interior-design.jpg" style="display: block; margin: 0 auto 20px auto;" alt="Interior Design Tips for New Construction Homes" />
The glorious feeling of buying a <a href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-new-construction-homes-for-sale/" title="Fort McMurray New Construction Homes for Sale">new construction home</a> can only be surpassed by truly designing it to feel as though it's yours and yours alone. Owners can take advantage of the newness during the construction phase, when decorating, and even by making a few upgrades after moving in. Continue reading to pick up these four interior design tips to personalize a new construction home.
Know What Doesn't Come With the Space
It's essential to remember that a model home is just that—a model of the best of what's available. Many of the options viewed are not included with the space upon the move-in date. Instead, much of what you see are upgrades available to new construction homebuyers.
One of the biggest surprises that owners face is that window treatments are not in place upon moving in unless they opted for an upgrade during the design phase. This can impede one's sense of privacy, which doesn't get the cozy vibe working from the get-go. Be prepared to install these on day one or discuss having window treatments included in the deal.
Other limitations that new construction homebuyers might face involve paint and flooring options. In many communities, the floor and wall colourings are often uniform by design. This means that buyers tend to pick one colour for all walls and consistent flooring throughout the home.
Those who want their dream home styled with a few personalizations will need to discuss these options before the build is completed. After all, walking into a home that's a blank canvas might invite creativity for some, but might not be a good fit for those desiring a home that's ready to go from the start.
Be Mindful of What You Put on the Walls After Moving In
One of the primary reasons that the interiors of homes aren't typically painted during construction is that reputable builders know that a <a href="https://www.homelight.com/blog/buyer-how-long-does-it-take-for-a-house-to-settle/" target="_blank">house needs time to settle</a>. It can take up to a year for a new home and its construction materials to season and adapt to the climate. Such materials include:
Drywall & Plaster
Concrete Foundations
Timber Framing
Brick Installations
So to help prevent cracks or peeling of the paint, a bit of patience is pivotal before getting eager to decorate walls. It might take up to two years for walls to be ready to add hues or wallpaper. This is also the case of surrounds and wall tiles, but this timeframe allows owners to settle into the home and discover their personal tastes.
Plan Your Furniture Ahead of Time
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While there are likely to be a few furnishings from the previous home that will be brought over to the new one, many buyers want to promote the feeling of freshness with some new pieces to fit the space. Taking a whole-house inventory is advised to avoid moving items that won't fit or those that don't represent your current taste.
Prioritize the most important rooms, as buyers don't have to purchase everything right away. Starting from scratch? Be sure to <a href="https://ottawacitizen.com/sponsored/homes-sponsored/furniture-in-high-demand-planning-ahead-goes-a-long-way" target="_blank">make arrangements for custom furniture with stores</a> months in advance to ensure they're ready for delivery when the build is complete.
Bedding, dressers, dining ensembles, and sofas should take the top spots on the list while avoiding an excess of decorative items and knick-knacks. After moving in and getting a better feel of the home, move forward with furnishing and decorating the more under-utilized rooms and empty wall space.
You Can Keep Personalizing After the Build Is Complete
Depending on whether the home is located in a master-planned community or a full custom build, some contractors may only have a limited number of options for appliances, fixtures, and finishes available. That being said, buyers can do a bit of planning in advance to ensure that their home reflects their personality.
This is not likely to be an issue in the long run, as buyers may make discoveries about where they spend the most time and prepare for a few changes. Many design experts recommend adding to each room over time, avoiding pressure to rush the decorative process in a new construction home.
Once established and allowing the home to settle, it's easy to add design elements like wall colours, accent pieces, additional furniture, and wall art. Owners can also switch out lighting and add extra storage like built-in cabinets and shelving. Some of the most typical upgrades owners make when they are ready to include:
Door handles
Light fixtures
Replacing the initial wood, carpeted, or tile flooring
Replacing interior or exterior doors
Investing in high-grade window treatments
Make sure to choose some items that highlight the home's best features.
Have an Idea of What You Want Before You Start
Interior design for new construction homes can be an exciting but daunting task. There are so many choices to make and decisions to make, and it can be easy to get overwhelmed. However, if you take the time to plan ahead, you can save yourself a lot of stress down the road. Before you start shopping for furniture and decor, sit down and think about what kind of style you want for your home.
Do you prefer a more traditional look, or are you drawn to more contemporary designs? Once you have a general idea in mind, you can start looking for pieces that fit your vision.
You may also want to consider the practicalities of your space when making your decisions. For example, if you have a large collection of books, consider designing the room around new bookcases. By taking the time to figure out what you want ahead of time, you can make the process of decorating your new home much easier on yourself.
That Dream Home Can Be a Reality!
There are no limitations when building and designing the home that dreams are made of. Anyone that needs a bit of guidance can always consult with their architect, builder, and design teams to make the most of their investment. However, taking some time to get creative with some customizations both pre- and post-construction is a wise move to make the home its best.
2022-07-08T11:15:00-07:002022-07-08T12:12:54-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:13733Fort McMurray Vacation Guide: Where to Sleep, Eat & Explore<img src="/userFiles/1785/image/fort-mcmurray-vacation-guide.jpg" style="margin: 0 auto 20px auto; display: block;" alt="Fort McMurray Vacation and Staycation Guide" />
The <a href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-homes-for-sale/" title="Fort McMurray Homes For Sale">city of Fort McMurray</a> provides a ton of year-round fun activities for its residents, in addition to beautiful scenery. A vacation or staycation is an excellent way for someone to get to know the community and explore some of its activities, dining, and adventures. There are also excellent choices for hotels to stay in during a trip or for a change of scenery. Read on to learn how to plan the perfect vacation or staycation in Fort McMurray, Alberta.
Hotels in Fort McMurray
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Five hotels in Fort McMurray are highly recommended for a stay here. Depending on the time of year one visits, rates are very affordable for a vacation or staycation. Most of the hotels also provide a great view of some of the scenery in and around Fort McMurray. Here are those five recommendations.
Best Western Plus Sawridge Suites
The <a href="https://www.bestwestern.com/en_US/book/hotels-in-fort-mcmurray/best-western-plus-sawridge-suites/propertyCode.61092.html" target="_blank">Best Western Plus Sawridge Suites</a> is on TaigaNova Crescent, just a short walk from the banks of the Athabasca River. If staying at this Best Western, a one-bedroom suite is the way to go.
A king or queen studio suite with kitchenette costs around $200 a night. Suites have a 47-inch TV, plush beds, and an open-style floor plan with modern furnishings. The kitchenette includes a mini-fridge, microwave, coffee maker, and more.
Best Western Plus Sawridge Suites Amenities
Gym
Cocktail lounge
Sauna
On-site dry cleaning
Free outdoor parking
Paid underground parking
TownePlace Suites Fort McMurray
TownePlace Suites is a Marriott property in Fort McMurray, located on Sakitawaw Trail. It's one of the newer hotels in town and is located within 500 feet of the beautiful Hangingstone River, so rooms on the top floor have great views of the valley and the river.
Guests will enjoy staying here because it has an indoor pool, a water slide, and a hot tub. Kitchenette suites include a full-sized refrigerator, sink, dishwasher, and convection oven. A one-bedroom suite with a separate living room costs around $275 a night. Pets are allowed, and the hotel offers free parking.
TownePlace Suites Fort McMurray Amenities
Indoor pool with water slide
Hot tub
Fitness centre
In-suite kitchenettes
Pomeroy Hotel Fort McMurray
The Pomeroy Hotel is not a luxury hotel experience, but it's close to one! This new state-of-the-art facility in <a href="https://www.fortmcmurrayrealestate.com/downtown-homes-for-sale/" title="Downtown Fort McMurray Homes For Sale">downtown Fort McMurray</a> is a small modern hotel offering comfy suites and an extremely professional, friendly staff. The Pomeroy is not far from the entrance to MacDonald Island Park, making it a great launching point for visitors who want to check out all the amenities and facilities the island offers.
A King Suite at the Pomeroy offers 650 square feet of space and a private terrace for guests to put their feet up. It has a dining area, a full kitchen, and a spacious bathroom.
The Pomeroy offers complimentary parking for all guests in a heated underground garage. Amenities include free breakfast, a fitness center, a hot tub, and WiFi.
Pomeroy Hotel Fort McMurray Amenities
Complimentary breakfast
Fitness centre
Hot tub
Business centre
Pet-friendly rooms
Chez Dube Country Inn
The Chez Dube Country Inn in Fort McMurray is the perfect choice for a luxurious and romantic getaway! It's the only "boutique" hotel in town, and the Honeymoon Suite is the best choice for a room here. The hotel overlooks Borealis Park and the banks of the Syne River.
The Honeymoon Suite is $299 a night for a romantic stay, offering a double Jacuzzi, fireplace, and a deluxe king-sized bed. Regular rooms start at $150 per night. All rooms have mini-fridges, private washrooms, and free WiFi.
Chez Dube's fantastic dining room offers a hearty complimentary breakfast each morning. The menu includes authentic Belgian waffles, smoked salmon Eggs Benedict, and more delectable surprises. For more fun, the Grand Room has comfortable seating options and a game room with billiards and foosball.
Chez Dube Country Inn Amenities
Made-to-order breakfast
Private parking
Private bathrooms
Unlimited YMCA passes
In-room mini-fridges
Baymont by Wyndham Fort McMurray
The Baymont by Wyndham in Fort McMurray is the best choice to stretch out some dollars on a stay. The suites are spacious and offer full kitchens, private washrooms, and elegant hardwood floors. Plus, rooms start at around $150 a night.
The hotel is in a great location on Franklin Avenue, with many things to do and see nearby. Just a short walk from the hotel is Borealis Park, fine dining or fast food, and the banks of the Clearwater River.
There are not a ton of unexpected amenities at the Baymont by Wyndham, but they're perfect for a vacation or staycation lasting more than a few days. There's free WiFi, parking, breakfast, and daily housekeeping.
Baymont by Wyndham Fort McMurray Amenities
WiFi
Complimentary breakfast
Free parking
Meeting room
Business centre
Laundry
Food & Dining in Fort McMurray
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Breakfast is taken care of if a vacationer has chosen any of the hotels listed above. But what about lunch and dinner? Fort McMurray has all the expected chain restaurants that a similar-sized city has anywhere in Canada, from Boston's Pizza to Tim Hortons. For local flavours you won't find anywhere else, check out some of the favourites listed here.
Mitchell's Cafe
Mitchell's Cafe fits the bill as a "local favourite" in Fort McMurray, located downtown on Main Street and Manning Avenue. Mitchell's Cafe's building has a bit of local history, sitting on the site of the first RCMP barracks in Fort McMurray. The original owners of the cafe were former RCMP officers, and they had a son named Mitchell, hence the name.
Mitchell's serves some fabulous espresso drinks and baked goods, but the real draw is sitting down for lunch or dinner. They have seasonal menu items, Canadian favourites, and a kids' menu. Mitchell's is open six days a week and closed on Sundays.
Popular Dishes at Mitchell's Cafe
Pizza of the Day
Best breakfast sandwich: The Dark Canuck
Criss-Cross Pork & Sauce
Pulled Pork
Roast Beef Zinger
Italian Quattro
Earl's Kitchen & Bar
Earl's Kitchen & Bar is off the Morrison Street highway in Fort McMurray. There is also a second Earl's location at the Fort McMurray Airport, but it's a smaller venue with more to-go options. The Earl's downtown is a better spot for a gourmet meal and a quiet drink on vacation.
Visitors should book a table at Earl's, especially for dinner, as it tends to fill up fast in the evening hours. Beer, wine, and cocktails are available in the dining room and the lounge/bar. For the best dining experience, come for a quiet lunch and eat outside on the patio. Earl's is open daily from 11 a.m. to 11 p.m. and offers free WiFi and parking for all diners.
Popular Dishes at Earl's Kitchen & Bar
Steak & Sushi platter
Jumbo Lump Crab Cakes & Greens
BBQ Ribs & Cajun Chicken
Butter Chicken Curry
Bigger Better Burger
Sticky Toffee Chocolate Pudding
The Keg Steakhouse & Bar
The Keg Steakhouse is a stylish and casual dining experience with some gourmet items on the menu. It's on Main Street and MacDonald Avenue downtown and is open seven days a week from 4 to 10 p.m. (11 p.m. on Fridays and Saturdays).
Mocktails and gourmet sandwiches make up the bulk of the lunch menu at The Keg Steakhouse. For the best experience, come in the evening for dinner and dessert. The menu has many additional offerings of traditional steaks, prime rib meals, and surf & turf.
Popular Dishes at The Keg Steakhouse & Bar
Vegetarian Meatloaf
Filet Mignon
Prime Rib
Steak & Lobster
Baseball Top Sirloin
Mile High Chocolate Cake
Attractions in Fort McMurray
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The scenery alone is a great reason to visit Fort McMurray. The fall colours in the trees are stunning, and the sea of greens in the summertime is dazzling. Even the winter wonderland of the town along the Athabasca River is a sight to behold. However, there are other attractions to check out in Fort McMurray on a vacation or staycation.
Oil Sands Discovery Centre
The Athabasca oil sands are a big part of why Fort McMurray is still a town today. The Oil Sands Discovery Centre on MacKenzie Boulevard is a museum celebrating this important natural resource. Visiting this museum is about as close as a person can get to Alberta's Oil Sands without getting a job with one of the oil companies!
The Discovery Centre opened in 1985 and offers programs and exhibits highlighting the oil sands' science, technology, and history. Standing next to the centre's 150-tonne heavy hauler truck gives a real sense of the size and scope of operations in the oil industry.
The centre's regular programmes include films and demonstrations of various sorts. Watch a hot water extraction to learn how bitumen is extracted from the sands. One of the significant outdoor exhibits to see is "Cyrus," an 85-tonne bucketwheel excavator and one of the biggest artifacts in all of Canada.
Suncore Energy Centre for the Performing Arts
The <a href="https://secpa.fmcschools.ca/" target="_blank">Suncore Energy Centre for the Performing Arts</a> is the place to catch a stage show in Fort McMurray. The centre is at Holy Trinity Catholic High School and has been home to UpTown programs. Dance shows have taken place here for more than a decade now.
This state-of-the-art facility provides a space for regular visual and performing arts, stage plays, and musicals. Check the schedule when planning a staycation to include a performance on your list of <a href="https://www.fortmcmurrayrealestate.com/blog/fort-mcmurray-things-to-do/">things to do in Fort McMurray</a>.
This performance centre boasts a Proscenium Black Box Theatre with seating for 350, a 4K laser projector, and a full-stage PVC cyclorama for fantastic lighting effects during shows. Prices vary depending on which group is performing.
Wood Buffalo County Summer Events
Wood Buffalo County puts on several special events and concerts every summer. Planning a vacation or staycation around these events is a way to make a trip here even more entertaining. However, booking hotels well before some of these events is advisable.
The June Bug Children's Festival is an event for kids. Balloon animal artists, face painting, bounce castles, and other fun children's events are the festival's focus.
Downtown gets taken over every summer as more than 20,000 people arrive for InterPLAY. This street festival features live music, street performances, artists and more.
The Wood Buffalo Country Fair is a major event showcasing traditional First Nations and local Canadian artists. Paintings, sculptures, intricate wood carvings, and other works of art decorate this event.
Music & Midways is a summer live music concert series held every year. The Country Music Jubilee and the Nexen CanadaROCKS festival both happen at the facilities on MacDonald Island for an incredible series of shows.
Adventures in Fort McMurray
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There is much more to Fort McMurray than exceptional scenery. You'll find many adventures year-round, which only add to the value of a vacation in the area. Here are three great experiences to check out in Fort McMurray.
Syncrude Tymerlea Athletic Park
Sports fans will want to check out the many tournaments and events held at the <a href="https://www.travelalberta.com/us/listings/syncrude-athletic-park-11575/" target="_blank">Syncrude Tymerlea Athletic Park</a> each summer, which has an outdoor rink during winter. This sports facility features some of the region's most exciting softball and cricket tournaments every summer.
The park has four soccer fields, six softball diamonds and a full-sized cricket pitch. Past events include the 2015 Western Canada Summer Soccer Games and the annual Wood Buffalo June Jamboree.
Aside from sports, Syncrude is one of the best parks in the area to visit at any time. There's a playground for children and an aquapark for cooling off during summer.
Vista Ridge
Vista Ridge is an outdoor park that ensures visitors always have an adventure at their fingertips, whether they come to Fort McMurray in the summer or winter. During summer, Vista Ridge's main draw is an incredible aerial park. Visitors can climb, swing, navigate rope bridges, and challenge themselves on climbing walls. There are even some lower-to-the-ground adventures for children. Vista Ridge has a 12-hole golf course and a mini-putt course open during summer.
The Fort McMurray area might look flat from a distance, but during winter, Vista Ridge becomes the region's best location for skiing. The park has several modest hills for different skill levels of skiers. Snowboarders are welcome, too, and the park even has modern ski lifts.
Non-skiers can have fun on the tubing hill or skating in the outdoor rink. Vista Ridge has a beautiful ski lodge for some hot cocoa at the end of the day and all the equipment rentals needed for a fun time on the slopes.
Heritage Village
The Fort McMurray Heritage Village and Heritage Shipyard are the places to visit for anyone wanting to dive deeply into the region's history. The village has a collection of dozens of historical buildings from the frontier times around Fort McMurray. Many of the buildings are over 100 years old.
Visitors can tour a trapper's cabin, a one-room schoolhouse, some houses owned by esteemed families in Fort McMurray, and several historic churches. A museum in the village offers additional insights into Fort McMurray's history, and a gift shop is also available.
Fort McMurray was once a major transportation hub due to the rail lines and rivers. The Heritage Shipyard is a place to explore some of the ships, rail cars, and other artifacts that were a part of that history.
When to Visit Fort McMurray
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The summer months are the best time of year to visit Fort McMurray. However, those who don't mind the cold will find plenty to see and do during the winter months.
June through August is the busiest tourist season of the year. Hotel rooms can cost more at this time and be scarce during some busier summer events. Bring a jacket if visiting Fort McMurray during summer because chilly days are still possible. Summer is also the rainy season, with about one week each month seeing significant rainfall.
The fall colours in September are well worth seeing in Fort McMurray. Temperatures do start to drop significantly, however. Daytime highs will average around 8° C in September and drop to -11° C by November. The first light snowfalls will also start during the fall. Hotels begin to empty, so it can be a more affordable time for a vacation.
Warm weather vacationers will not prefer Fort McMurray during the winter months, as there can be up to 30 centimetres of snow on the ground from December through February. Daytime high temperatures will range from -9° C to -15° C. For those who don't mind the cold, it's a great time to visit and enjoy skiing, skating in the community's outdoor rinks, and viewing the Northern Lights. These dazzling light shows arrive in the night sky every September and can be viewed until May.
Things start to warm up in Fort McMurray during the spring months (March through May). The community becomes more active as winter recedes; by late May, daytime highs are around 6° C. The rivers tend to be a bit high during spring runoff, but there are plenty of other ways to enjoy the outdoors.
A Vacation or Staycation Awaits in Fort McMurray
The adventures travellers can enjoy in Fort McMurray extend throughout the year, despite its chilly winters. There are so many things to do here that even locals can enjoy a staycation and start exploring everything the city offers. If you're planning to or have just <a href="https://www.fortmcmurrayrealestate.com/blog/moving-to-fort-mcmurray/">moved to Fort McMurray</a>, a vacation or staycation in the area is a great way to get to know this city.
2022-06-27T12:07:00-07:002022-06-27T13:24:13-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:13618Things to Do in Fort McMurray: 12 Ways to Have a Blast This Weekend<img src="/userFiles/1785/image/things-to-do-in-fort-mcmurray.jpg" alt="Things to Do in Fort McMurray" style="width: 100%; margin-bottom: 20px;" />
In recent years, the <a href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-homes-for-sale/" title="Fort McMurray Homes for Sale">Fort McMurray community</a> has grown into an urban service area of nearly 70,000 residents. From its forests and rivers to its shopping and nightlife, the city has a wide range of outdoor and indoor activities for people to enjoy. This oil sands community has a few surprises in store for visitors and locals to discover. Keep reading to learn about some of the best things to do in Fort McMurray.
Fort McMurray Outdoor Adventures
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Fort McMurray is in northeast Alberta, so cold winters and beautiful summers are the norms. The large boreal forest area and two major rivers provide a lot of different options for outdoor adventures, and there are also many parks and hiking trails to enjoy.
Parks
MacDonald Island Park (MIP) is an extremely large recreational centre that is truly the heartbeat of the community. The island park is home to the Miskanaw Golf Club and the state-of-the-art sports centre and arena known as Shell Place.
The <a href="https://www.macdonaldisland.ca/facilities/sclc" target="_blank">Suncor Community Leisure Centre</a> is home to dozens of activities throughout the year for residents. The biggest highlight is the pair of NHL-sized hockey arenas. The centre also has a curling rink and a leisure ice rink, along with an indoor playground that's open all year round, so kids always have a place to play during the colder winter months. Plus, there is a dance academy, a climbing wall, an indoor running track, a state-of-the-art gym, and other fitness-related activities.
Vista Ridge is another truly amazing park in the southeast part of Fort McMurray. It is a dual-use park visited by thousands of people each year, and it switches focus completely between the winter and summer months.
During the winter season, the park becomes a skiing and sledding location. The area surrounding Fort McMurray is relatively flat, but Vista Ridge has some decent hills for skiing and snowboarding and modern lifts. It also has a tubing and sledding section for those who don't ski and an outdoor ice skating area. The lodge is spectacular and provides a great spot to eat after a day's skiing.
In the summer months, Vista Ridge is transformed into a fun outdoor recreation area. It has one of the most incredible aerial climbing parks in Alberta. There is also a 12-hole public golf course and a miniature golf course to enjoy, along with a large outdoor skate park, a playground for children, and an area for Frisbee golf.
Syne Park is located next to the Syne River, and it's a great launching area for canoes or kayaks. The park's other amenities include beach volleyball (two courts), a playground, and a soccer field. Gregoire Dog Park in Fort McMurray has a playground for children to enjoy, while adults let their dogs off-leash for running or training in the large grassy area.
Dunvegan Gardens has plants and shrubs for sale, but it's also an excellent spot for outdoor community events. It hosts a Christmas village, an Easter egg hunt in the spring, and a 10-acre corn maze in the summer.
Water Recreation
The Syncrude Aquatic Centre at MacDonald Island Park (mentioned above) is the best place in Fort McMurray for year-round fun in the water. It has an Olympic-sized swimming pool, a water park, and other activities. It stays very busy all year long, including during the winter months.
Gregoire Lake Provincial Park is a great location for outdoor water activities of all sorts. A large public beach is jam-packed with visitors during the summer months. The lake itself is a destination for fishing in the summer and ice fishing in the winter, and it's a great spot to take a boat out on the water.
Hiking & Biking Trails
Fort McMurray has more than 130 kilometres of trails within the area suitable for hiking, biking, and cross-country skiing. Gregoire Lake Provincial Park is one such area, with trails used in the summer and winter months.
There's a fascinating trail at MacDonald Island Park that showcases the heritage of the area's First Nations people. It's a great trail to walk and learn about the history and traditions of the First Nations. There is also an extensive network of outdoor trails running through the entire park.
Fort McMurray has many additional green spaces and parks for residents to enjoy the outdoors, even during the colder months of the year.
Fort McMurray Shopping
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Fort McMurray has no shortage of great shopping opportunities for residents. Most of the shopping is concentrated near the City Centre, but there are also a couple of great spots in the north part of town.
The <a href="https://peterpondmall.com/" target="_blank">Peter Pond Mall</a> near the City Centre is one of the largest malls in the entire area. It has dozens of brand-name shops and places to eat. The River City Mall is just down the street from Peter Pond Mall. It has around 60 stores, with more emphasis on health care shopping, such as pharmacies, optometrists, and doctors' offices. Several "big box" stores like Walmart and Staples are located just east of the malls in the City Centre.
In the north part of town, Timberlea Landing is a large shopping centre with several buildings in a two-story strip mall format. It has groceries, restaurants, liquor stores, and places for residents to get a haircut or have their nails styled.
Fort McMurray Restaurants & Nightlife
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Depending on what someone is in the mood for, there are many fine dining options in Fort McMurray and places to go out for a drink in the evening. Surekha's on the Snye is an upscale restaurant with vegetarian and vegan options on the menu. Want seafood? The Fish Place serves fresh seafood for breakfast, lunch and dinner.
Mitchell's Cafe is a local favorite that serves pizza and great sandwiches; it has several vegan and vegetarian options as well. For some international fare, Fuji Japanese Restaurant serves terrific ramen and sushi.
When residents want some drinks, there are several options to choose from. The Keg Steakhouse + Bar stays open late serving drinks and is also a great location for steak or some ribs. The East Village Pub and Eatery serves Canadian fare, wine, and beer. Another option is Earl's Restaurant, which has great food in addition to a classy and upscale bar.
Arts & Culture in Fort McMurray
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Many of Fort McMurray's museums relate to its time as an essential transportation hub in the region due to the Athabasca River. Goods and timber were transported to Fort McMurray and then shipped down the river on barges. The Fort McMurray Heritage Shipyard has a pair of those historical vessels to view, some old-time rail cars, and other historical artifacts.
To learn more about the oil sands, The Oil Sands Discovery Centre is a museum and educational facility dedicated to the Athabasca Oil Sands. It's open year-round and does charge an admission fee.
The Fort McMurray Heritage Village has some interesting historic buildings that were constructed a century ago and offers tours to the public. The Fort McMurray Marine Park Museum is one of the newer museums in the area, and it highlights the ships, barges and railyard history of the area.
Fans of visual and performing arts have several good spots to check out in the city. Events tend to sell out quickly at the <a href="https://www.keyano.ca/en/theatre/theatre.aspx" target="_blank">Keyano Theater & Arts Centre</a> in Fort McMurray. Colleges, schools, and world-renowned acts perform here in an intimate 594-seat theatre. And for art aficionados or those who simply appreciate great works of art, the Points North Gallery is a great place to visit. It showcases the paintings, sculptures, and other artworks by Canadian artists. The exhibits at the gallery rotate regularly.
Other Adventures in Fort McMurray
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Some additional adventures available in Fort McMurray don't fall into any of the above categories. One fantastic way to view Fort McMurray, the rivers, and the Athabasca Oil Sands area is by taking a flightseeing tour. A couple of different companies in the area have small planes available to do this.
<a href="https://www.mcmurrayaviation.com/" target="_blank">McMurray Aviation</a> is one such choice. It offers both city and river tours that range from 30 to 90 minutes in length. The company operates about a dozen planes for flightseeing, including some floatplanes that land and take off from the water.
And one of the natural wonders that is a must-see event in Fort McMurray is the "Northern Lights" in the wintertime. Local weather forecasts let everyone know which winter nights will be best for viewing the aurora borealis. Heading to a darker area, such as one of the parks or out on the highways away from the city, offers the best chance to take in one of these amazing shows.
Enjoy Life to the Fullest in Fort McMurray
Fort McMurray has a surprising number of world-class activities for locals to enjoy. MacDonald Island Park and Vista Ridge have amazing facilities to enjoy indoors and out, and people who prefer more laid-back activities have plenty of options with the city's dining and shopping options. No matter the activity, the natural outdoor beauty of the area provides abundant opportunities for residents to enjoy life in this northern Alberta town.
2022-06-08T10:40:00-07:002022-06-08T11:52:12-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:13453Fort McMurray Commuting Guide: Advice to Shorten Your Daily Drives [2023]<img style="margin: 0 auto 20px auto; display: block;" src="https://assets.site-static.com/userfiles/1785/image/fort-mcmurray-driving.jpg" alt="What to Know About Driving in Fort McMurray" />
Formally known as an urban service area, the <a href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-homes-for-sale/" title="Fort McMurray Homes for Sale">Fort McMurray community</a> has a population of just over 66,000 people. The area motto, "We have the energy," references the role that natural resources play in the local economy. With the Athabasca oil sands nearby, many workers in the area travel to petroleum production facilities each day.
Regardless of career, residents and those planning a <a href="https://www.fortmcmurrayrealestate.com/blog/moving-to-fort-mcmurray/">move to Fort McMurray</a> will need to understand how to get around the region. That means learning the major roads and travel times or getting familiar with public transportation. Read on for everything to know about getting around Fort McMurray, AB.
Get to Know Your Major Roads
In part because Fort McMurray is a medium-sized community in the middle of green lands, the road structure of the community is straightforward. For the most part, any trip will only have one major route to and from the destination. That can make it very easy for newcomers to navigate. The reasonably remote location also means many people commute to areas outside the city.
<br /><a href="https://www.google.com/maps/@56.7271915,-111.3810266,14.03z" target="_blank">View Larger Map</a>
Highway 63 is the only route into Fort McMurray, extending north and south of the community. Because the area is heavily travelled by trucks hauling energy products, the road is very busy. Heading north, the roadway moves through destinations like Tar Island, Fort McKay, and Mildred Lake. The southern path travels to the Edmonton area.
There are two routes to know to move from east to west within the city. In the south part of the city, Alberta Highway 69 branches off Highway 63 and moves east toward Altex Energy Lynton Facility. This road is essential to know as it moves past the <a href="https://www.flyymm.com/" target="_blank">Fort McMurray International Airport</a>. Two paths converge at the northern end of the city to create a loop. Thickwood Blvd and Confederation Way combine to provide access to nearly every area on this side of town.
What to Expect Driving at Different Times of Day
Like most communities, new residents to Fort McMurray can expect the busiest driving times to be the rush hours before and after work. Because of the large number of workers and contractors heading toward oil-related facilities, drivers on these roads may want to leave work earlier than usual. This is reflected in the rush hour times within the city.
Morning traffic in Fort McMurray begins to increase as early as 5:00 AM and remains at its peak until about 9:00 AM. However, as many workers are driving to the same locations, the number of cars may likely get heavier around specific shift changes. The evening rush can begin at about 4:00 PM and last until about 7:00 PM.
Because the community is built around Highway 63, there are very few alternative routes to destinations. While leaving the highway to drive through the city may appear a good idea, it will likely delay the trip unless traffic is completely stopped. The best advice is to leave early to provide extra time, as it is not likely to find shortcuts or secondary routes.
Fortunately, rush hour delays are not very bad compared to many larger communities. Traffic is delayed no longer than 5-10 minutes during the heaviest driving times in most conditions. As long as no accidents stop traffic flow, new residents will likely not even notice a difference in commute times.
Parking
Because Fort McMurray is not currently an especially congested city, visitors and residents can expect available parking at most jobs or shopping locations. However, <a href="https://www.rmwb.ca/en/roads-and-construction/parking.aspx" target="_blank">Fort McMurray has several parking lots</a> available in certain areas. The municipality maintains four parking areas on the north side of the community. Wood Buffalo Park, Ross Hennigar Park, and Syncrude Athletic Park contain parking for visitors. The Timberlea Tennis Courts also have nearby parking facilities.
On the south side of the city, Borealis Park, Lions Park, Marine Park, and Beacon Hill Dog Park provide visitors with a place to leave their vehicles while enjoying the fresh air. Ice hockey lovers can use the lot near Frank Lacroix Arena. Finally, there are two additional lots in commercial areas for commuters.
While these lots are mainly free, they do come with restrictions. For example, drivers cannot store equipment on the property or park vehicles long-term.
Public Transportation
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Whether for economic reasons or a commitment to reducing fossil fuel use, increasing numbers of people are using public transportation. While Fort McMurray is largely a driving community, area governments have been attempting to combat growing traffic congestion by encouraging more people to use alternative means of commuting.
Fort McMurray Transit
Nicknamed WOOSH, the <a href="https://www.rmwb.ca/en/transit/transit.aspx" target="_blank">Fort McMurray public transportation system</a> is operated by the Regional Municipality of Wood Buffalo. The system has about 17 different routes serviced by 47 buses. Although many riders will be able to arrive at the destination via one bus, there are two designated transfer stations. In addition to scheduled bus routes, the same organization also manages school buses and transport vehicles for people with disabilities.
Abasand Heights, the <a href="https://www.fortmcmurrayrealestate.com/beacon-hill-homes-for-sale/" title="Beacon Hill Homes for Sale">Beacon Hill neighbourhood</a>, Keyano College, Gregoire Industrial Park, Fort McMurray International Airport, Longboat Landing, Syncrude Sport and Wellness, and MacDonald Island all have bus routes coming directly from the main downtown terminal. The Thickwood Transfer Station provides routes reaching Wood Buffalo Estates, the eastern <a href="https://www.fortmcmurrayrealestate.com/thickwood-homes-for-sale/" title="Thickwood Homes for Sale">Thickwood community</a>, and Signal Road. Riders using Timberlea Station can catch buses going to the <a href="https://www.fortmcmurrayrealestate.com/stone-creek-homes-for-sale/" title="Stone Creek Homes for Sale">Stone Creek neighbourhood</a>, <a href="https://www.fortmcmurrayrealestate.com/eagle-ridge-homes-for-sale/" title="Eagle Ridge Homes for Sale">Eagle Ridge community</a>, Taiganova Industrial Park, <a href="https://www.fortmcmurrayrealestate.com/parsons-creek-north-homes-for-sale/" title="Parsons Creek Homes for Sale">Parsons Creek neighbourhood</a>, and Harpe Heights.
Most weekday schedules begin at around 6:00 AM and continue through almost 8:00 PM. Saturday and Sunday schedules vary dramatically, with some reduced to as little as four runs a day.
For riders with longer distance commutes, the service also provides rural routes to Anzac, Fort McKay, Janvier, and Conklin one or two times a week.
Ticket Options
Standard cash fare is $1.50 per ride
18 ride sheet is $25.50
Monthly passes are $54
Seniors and children under five ride free
Rural routes are $10 one way
Commute Times from Suburbs to Downtown
Despite the small population size of the region, Fort McMurray still has several suburbs. New residents are encouraged to research median housing prices and amenities before selecting a city and neighbourhood.
Timberlea
<br /><a href="https://www.google.com/maps/dir/Timberlea,+Fort+McMurray,+AB,+Canada/Fort+McMurray,+AB,+Canada/@56.7466841,-111.4345592,13.53z/data=!4m13!4m12!1m5!1m1!1s0x53b00906217bffad:0x9dd10889d8f45bec!2m2!1d-111.4557775!2d56.7558501!1m5!1m1!1s0x53b03aeeff1a4459:0x5c8133330dca74b7!2m2!1d-111.3790441!2d56.7266598" target="_blank">View Larger Map</a>
The <a href="https://www.fortmcmurrayrealestate.com/timberlea-homes-for-sale/" title="Timberlea Homes for Sale">Timberlea community</a>, considered one of the <a href="https://www.fortmcmurrayrealestate.com/blog/best-neighbourhoods-fort-mcmurray/">best neighbourhoods in Fort McMurray</a>, is located within the city about 8 km northwest of downtown. Drivers would use a combination of Highway 63 to Confederation Way to arrive in the vicinity. The trip can take about nine minutes in low traffic times, but the same voyage would last up to 14 minutes during the evening rush. Public transportation along this route is possible by taking the 15 bus from the Main Street Terminal.
Anzac
<br /><a href="https://www.google.com/maps/dir/Anzac,+AB,+Canada/Fort+McMurray,+AB,+Canada/@56.6010076,-111.3800273,11z/data=!4m13!4m12!1m5!1m1!1s0x53affb031a3f535b:0x35c952cb6ec64590!2m2!1d-111.036765!2d56.448899!1m5!1m1!1s0x53b03aeeff1a4459:0x5c8133330dca74b7!2m2!1d-111.3790441!2d56.7266598" target="_blank">View Larger Map</a>
The <a href="https://www.fortmcmurrayrealestate.com/anzac-homes-for-sale/" title="Anzac Homes for Sale">city of Anzac</a> can be found about 48 km southeast of the Fort McMurray community. Drivers would take Highway 63 south for about 24 km before turning onto AB-881 south for another 22 km. Commuters can expect the trip to take around 45 minutes during rush hour. However, drivers can shave about five minutes off the travel time in the lightest traffic. Buses provide transportation to and from Fort McMurray once a day on Tuesday, Wednesday, Thursday, and Friday.
Cheecham
<br /><a href="https://www.google.com/maps/dir/Cheecham,+AB,+Canada/Fort+McMurray,+AB,+Canada/@56.5934474,-111.3887857,11z/data=!4m13!4m12!1m5!1m1!1s0x53aff2636ef0d2eb:0xd144d479ff4bced!2m2!1d-111.1248207!2d56.4338855!1m5!1m1!1s0x53b03aeeff1a4459:0x5c8133330dca74b7!2m2!1d-111.3790441!2d56.7266598" target="_blank">View Larger Map</a>
Cheecham can be found close to Anzac, about 42 km southeast of Fort McMurray. In great conditions, commuters would take about 35 minutes to travel between the locations using Highway 63 and Highway 881. Rush hour traffic only adds about 5 minutes to the travel time.
Gregoire Lake Estates
<br /><a href="https://www.google.com/maps/dir/Gregoire+Lake+Estates,+AB,+Canada/Fort+McMurray,+AB,+Canada/@56.5954628,-111.429057,11z/data=!3m1!4b1!4m13!4m12!1m5!1m1!1s0x53affec9ef77f29b:0xc6f0d2e4ad2679af!2m2!1d-111.1952731!2d56.465253!1m5!1m1!1s0x53b03aeeff1a4459:0x5c8133330dca74b7!2m2!1d-111.3790441!2d56.7266598" target="_blank">View Larger Map</a>
Along the shores of Gregoire Lake, the <a href="https://www.fortmcmurrayrealestate.com/gregoire-lake-estates-homes-for-sale/" title="Gregoire Lake Estates Homes for Sale">city of Gregoire Lake Estates</a> is about 36 km southeast of Fort McMurray. Highways 63 and 881 lead to Gregoire Lake Estates. Drivers can expect rush-hour conditions to create a commute lasting up to 35 minutes, with lighter traffic shaving about seven minutes. Those living within this community can catch routes to and from Fort McMurray four days a week.
Tar Island
<br /><a href="https://www.google.com/maps/dir/Tar+Island,+AB,+Canada/Fort+McMurray,+AB,+Canada/@56.8520066,-111.5740719,11z/data=!3m1!4b1!4m13!4m12!1m5!1m1!1s0x53b0718974f2f7c7:0xf31665703d4cb502!2m2!1d-111.4811221!2d56.975847!1m5!1m1!1s0x53b03aeeff1a4459:0x5c8133330dca74b7!2m2!1d-111.3790441!2d56.7266598" target="_blank">View Larger Map</a>
Tar Island can be found about 30 km north of Fort McMurray, not far from Ruth Lake. The majority of the route involves Highway 63. In light traffic, commuters can expect a trip of about 22 minutes. Leaving during the afternoon rush can add up to four minutes to the trip.
Fort McKay
<br /><a href="https://www.google.com/maps/dir/Fort+Mackay,+AB,+Canada/Fort+McMurray,+AB,+Canada/@56.9563855,-111.792787,10z/data=!3m1!4b1!4m13!4m12!1m5!1m1!1s0x53b07d2655f2ae73:0x6108ab786cac1d4!2m2!1d-111.6367851!2d57.186758!1m5!1m1!1s0x53b03aeeff1a4459:0x5c8133330dca74b7!2m2!1d-111.3790441!2d56.7266598" target="_blank">View Larger Map</a>
Fort McKay is about 58 km due north of Fort McMurray. Like most communities in the area, the main route between the two cities is Highway 63. In low traffic, drivers can make the trip in about 45 minutes, but be prepared for an extra five minutes of delays during rush hour. Each Thursday, there is a single trip from Fort McKay to Fort McMurray and back.
Other Helpful Things to Know
New Fort McMurray residents may want to know a few things about driving within the region. First, be aware that the entire Regional Municipality of Wood Buffalo utilizes <a href="https://www.rmwb.ca/en/bylaw-and-animal-services/photo-radar.aspx?_mid_=33916" target="_blank">Automated Traffic Enforcement</a>. That means overhead cameras enforce speed limits and traffic laws.
Those hailing from southern locations should also be prepared for the snow and ice that come with northern living. Anyone relocating should familiarize themselves with winter driving tips and be prepared to park off the streets during snowplow season.
Flow With Traffic in Fort McMurray
With the strong, energy-based <a href="https://www.fortmcmurrayrealestate.com/blog/fort-mcmurray-economy/">economy of Fort McMurray</a>, it is no wonder that the population is growing by leaps and bounds. New residents will find getting around the community very easy because of its straightforward design centred around Highway 63. Finally, those coming from larger cities will have no problem adjusting to the extra five-minute delays caused by the worst of rush hour traffic.
2022-05-17T04:10:00-07:002022-10-27T15:57:36-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:13243How Many Units Can You Manage? Multi-Family Residential Advice For Investors<img src="/userFiles/1785/image/choosing-multiplex-size.jpg" style="display: block; margin: 0 auto 20px auto;" alt="Choosing Between Multi-Family Property Sizes" />
Real estate has always been one of the most desirable investments. Buying a personal residence is the most common entry point to real estate investing, but multi-family real estate investors get all the benefits of homeownership in addition to passive income from each unit in the building.
But how can they decide how many units their investment property should have? <a href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-duplexes-for-sale/" title="Duplexes For Sale in Fort McMurray, AB">Duplexes</a>, <a href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-condos-townhomes-for-sale/" title="Condos & Townhouses For Sale in Fort McMurray, AB">condos, and townhomes</a> are all popular multi-family property types to choose from. The best size for multi-family properties will vary for each individual, but understanding the pros and cons of each property style can help them decide. Keep reading to learn how to choose between multi-family property sizes.
What Are the Different Kinds of Multi-Family Homes?
Multi-family residential housing includes duplexes, triplexes, and four-plexes/quads. For serious investors, such housing represents a viable and robust market, whether the homes are purpose-built or converted single-family residences. Structures with more than four units fall under different financing guidelines and would be considered commercial rather than residential property.
Just as the names suggest, duplexes provide separate living spaces for two families, triplexes offer three separate living spaces, and quads are divided into four residences. No matter the category, the separate residences typically share a common foundation and roof; they may be contiguous or separated vertically. Similar to urban rowhouses of a century or more ago, the more contemporary "plexes" are typically found in urban locations, the suburbs, small towns, and planned developments. With each type of property, you have the option to <a href="https://www.fortmcmurrayrealestate.com/blog/should-you-live-in-your-multiplex/">live in your investment property</a>.
As an owner of a multi-family residence, it is entirely possible to inhabit one residence and rent the others. Or an investor may purchase one or more multi-family residences and rent them all. Additionally, investing in residential real estate is an excellent way to diversify an investment portfolio.
What Kinds of Multi-Family Homes Are Available?
There are many different types of multi-family housing styles available, and each one has unique advantages.
Novice investors can purchase a duplex to reduce their cost of housing by leasing the second living space. Duplexes are often available for a reasonable sum of money, and securing financing is generally not difficult. Owner-occupied <a href="https://www.ratehub.ca/investment-property" target="_blank">investment properties in Canada</a> benefit from smaller down payments, making them even more desirable to first-time buyers.
Owners then might "graduate" to a triplex to cut costs even more or move on to a single-family residence or into a high-rise building, finding that managing two rental units is relatively effortless. The number of quads available in any given location is usually minimal. First, not as many fourplexes have historically been constructed, and they are generally more expensive to acquire and maintain.
Also, based on the additional management time and effort required and the rising cost of routine upkeep and maintenance of the additional units, the expected return on investment is typically lower. It might also be that serious real estate investors move into the commercial realm with buildings containing five or more individual housing units. The financial requirements and potential rewards are very different.
Number of Units: Balancing Management vs. Income
<img src="https://assets.site-static.com/userfiles/1785/image/doing-paperwork.jpg" alt="Consider Legal and Financial Requirements When Choosing a Property Size" style="margin-bottom: 30px;" />
As with any investment, particularly real estate, there are pros and cons to consider. Potential buyers should possess basic knowledge of locating, acquiring, and financing residential property before deciding to become a landlord. The beginning investor should also seek financial advice and know the basic terminology of mortgage financing. It's vital to understand terms like loan-to-value ratio, appreciation and depreciation, interest rates, equity buildup, and local market rental statistics.
A landlord should also be aware of insurance needs, tax consequences, allowable expenses, accounting and record-keeping requirements, basic marketing principles and tenant screening procedures, and fair housing and anti-discrimination policies. Whether the owner lives next door or becomes an absentee owner, the need for response to emergencies and dealing with legal restrictions and responsibilities cannot be over-emphasized. While living in the same building as your tenant may, in some circumstances, be "too close," the need to hire a local manager can quickly become too expensive, eating into the potential return on your investment.
Striking a balance between income and expenses also requires a specific occupancy rate. Having a larger rental pool, with a guard or with multiple duplexes, for instance, means that a potential vacancy will have a more negligible effect on monthly income. But as the rental pool grows, so do the costs of management and maintenance, sometimes in inverse proportion to profits.
How Size Affects Financing
It may go without saying, but the key to making money—a little or a lot—through real estate investment is securing advantageous financing that will allow you to cover costs and generate additional income. With knowledge, strategic planning, and perhaps a bit of luck, some owners can live in one half of a duplex, rent the other half, and pay the entire mortgage with the rent paid by a tenant. Triplexes and quads are true, although the associated costs increase with each additional living space.
Finding the right property can be the most challenging task once prospective investors assess their personal goals and develop a strategy. Financing a duplex may not be much more difficult, in terms of cash and credit requirements, than obtaining a mortgage on an individual home. Still, lenders are likely to take a deeper look at your financial resources if you wish to finance a fourplex.
Multi-family homes with more than five individual dwelling units are typically considered commercial property, and requirements differ, as do the expectations for financial gain.
Make the Most of Your Multi-Family Investment
Real estate has remained a historically popular investment thanks to its stability and universality. Although property values are subject to ups and downs, and interest rates can vary substantially over time, people always need a place to live.
With real estate that can be rented, an owner is in a good position to at least partially compensate for rising prices and market instability. Add to that the probability of appreciation over the long term, and purchasing a duplex, triplex or fourplex becomes an even more promising investment.
2022-04-19T07:10:00-07:002022-04-29T06:15:58-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:131218 Best Neighbourhoods in Fort McMurray: Where to Live in 2023<img src="/userFiles/1785/image/fort-mcmurray-best-neighbourhoods.jpg" style="display: block; margin: 20px auto;" alt="Fort McMurray Best Neighbourhoods" />
Located in the province of Alberta, Canada, Fort McMurray lies in the middle of the Athabasca oil sands and is surrounded by a boreal forest. While initially a city in its own right, Fort McMurray has since been redesignated as an urban service area after it was merged to form the Regional Municipality of Wood Buffalo in 1995.
The <a href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-homes-for-sale/" title="Fort McMurray Homes For Sale">Fort McMurray real estate</a> market contains many great neighbourhoods designed for the unique needs of all types of residents. Keep reading to discover the eight best neighbourhoods in Fort McMurray—your dream home might be waiting in one!
Beacon Hill
Beacon Hill Amenities
Oil Sands Discovery Center
Mary Brown's Chicken
Urban Kitchen Table
The Den
Found along Memorial Drive heading into Fort McMurray, the Beacon Hill community is a quiet getaway from the nearby downtown area. People <a href="https://www.fortmcmurrayrealestate.com/blog/moving-to-fort-mcmurray/">moving to Fort McMurray</a> will appreciate that Beacon Hill is only a short drive from prime commercial areas.
<a href="https://www.fortmcmurrayrealestate.com/beacon-hill-homes-for-sale/">Beacon Hill homes for sale</a> usually cost between $239,000 and $996,000. House sizes range between three bedrooms, two baths and six bedrooms, five baths. Home types in the area come in various styles, including modern contemporary and custom-built.
Beacon Hill eateries include Jomaa's Pizza & Chicken, serving a variety of lunch and walk-in specials and Table 63 at the Quality Hotel, offering a hot buffet breakfast and delicious homestyle cooking. Beacon Hill locals also enjoy convenient access to the Fort McMurray International Airport.
Other Beacon Hill area hotspots and amenities include Thrifty Dutch Girl, a woman's thrift boutique shop; Brewskis Pub, founded in 2011 and serving quick bites and more elaborate meals; and <a href="https://facilities.rmwb.ca/Home/Detail?Id=62c48d45-9ba1-4995-a9bf-0ab81d901fb7" target="_blank">Beacon Hill Park</a>, a park with sports facilities, a playground, and picnic area that is open year-round.
Dickinsfield
Dickinsfield Amenities
Wood Buffalo National Park
Fort McMurray Golf Club
Short Change Pub
Centerfire Place
Like many communities in Fort McMurray, the neighbourhood of Dickinsfield is known for its natural beauty and access to outdoor recreational activities. These activities include hiking, biking, and skiing at the <a href="https://www.travelalberta.com/us/listings/birchwood-trails-outdoor-green-gym-11570/" target="_blank">Birchwood Trails</a>, a series of beautiful, wooded trails surrounding the region.
When it comes to housing, the <a href="https://www.fortmcmurrayrealestate.com/dickinsfield-homes-for-sale/">Dickinsfield homes for sale</a> range in price from $350,000 to $800,000. Available home sizes include three bedrooms and three baths, up to five bedrooms and three baths. Housing types consist mainly of older single-family homes, new construction homes, and townhomes.
Area hotspots include Milano's Pizza & Grill, a typical pizza joint with yummy Italian food; Sweet Meats Sandwich Bar, serving freshly made sandwiches, wraps, and other items; and the Blue Diamond Restaurant, offering a variety of favourite Chinese dishes.
The Black Horse Pub is another popular location near the Dickinsfield community, serving the surrounding region since 1994. Ruth's Sweets and Treats is found to the north of the Dickinsfield community, while OBB Gifts lies to the south and sells a range of gift baskets.
Timberlea
Timberlea Amenities
Syncrude Timberlea Athletic Park
Firebag Coffee Company
Buster's Pizza & Donair
Cedars Shawarma and Kabab
One of the most populous communities in the area, the community of Timberlea is located in the northwest corner of Fort McMurray. <a href="https://www.fortmcmurrayrealestate.com/timberlea-homes-for-sale/" title="Timberlea Homes For Sale">Timberlea real estate</a> comprises 18 separate subdivisions and offers residents access to area parks and outdoor spaces, many with walking trails for active residents.
Homes in Timberlea cost between $90,000 and $1.2 million. House sizes in Timberlea vary between two bedrooms, two baths to seven bedrooms, three baths. Residences in the area also come in a wide selection of home types, including townhomes, condos, and single-family homes.
Timberlea has many restaurants to choose from, including Prairie Donair, a family-owned and operated restaurant that offers authentically cooked meals; Pizza Plus, serving pizza, pasta, and sandwiches; and Mucho Burrito Fresh Mexican Grill, with fresh Mexican-inspired food.
There are also several bars and breweries in the Timberlea area, including the East Village Pub & Eatery, a local pub run by a mother and son team; <a href="https://thecanadianbrewhouse.com/" target="_blank">The Canadian Brewhouse</a>, a sports-centric brewery that also has a selection of pub favourites; and The Banquet, which offers food, drinks, and games.
Thickwood
Thickwood Amenities
Black Horse Pub
Paddy McSwiggins
Sweet Meats Sandwich Bar
OBB gifts
Home to Fort McMurray's minor league hockey club, the Oil Barons, Thickwood is surrounded by woodland and is found in the northwest part of the Fort McMurray area, south of the Timberlea community. The community of Thickwood has well-maintained green spaces throughout.
The <a href="https://www.fortmcmurrayrealestate.com/thickwood-homes-for-sale/">homes for sale in Thickwood</a> are comprised of various types, including bungalows, townhomes, and condos. Home prices in the area average between $128,000 and $965,000. Homes in Thickwood range in size from two bedrooms, two baths to seven bedrooms, four baths.
Thickwood has a selection of shopping locations, including Thickwood Shopping Plaza, with over 21 stores and eateries; Save-On-Foods, a grocery chain found across Canada; and The Meat Shoppe, a locally-owned butcher shop offering smoked sausages, jerky, and other meat products.
Other Thickwood hotspots include <a href="https://www.pc.gc.ca/en/pn-np/nt/woodbuffalo" target="_blank">Wood Buffalo National Park</a>, an over 27,000-square-mile National Park, making it Canada's most significant; the Fort McMurray Golf Club, found along the banks of the Athabasca River and offering a 27-hole golf course; and MacDonald Island Park, with many state-of-the-art facilities, including a golf club, pool, and other fun activities.
Local restaurants in the Thickwood area include Mary's Brown Chicken, offering a variety of chicken dishes; Blue Diamond Restaurant, serving juicy steaks, Chinese noodles, and more; and The Fish Place, a seafood restaurant with a variety of breakfast items to choose from.
Abasand
Abasand Amenities
Peter Pond Mall
The Keg Steakhouse & Bar
Eclipse
Borealis Park
The Abasand community sits atop a portion of the original Abasand Oil Sands property. The <a href="https://www.fortmcmurrayrealestate.com/abasand-homes-for-sale/">Abasand homes for sale</a> are elevated above the rest of the surrounding area, offering beautiful views of Fort McMurray and the surrounding region. Located just minutes from the main highway, Abasand has many area trails and greenbelts.
Home prices in the Abasand area usually range between $150,000 and $699,000, with houses in the area a mixture of single-family homes, townhomes, and condominiums. Home sizes tend to range between three and four bedrooms.
Area restaurants are located to the east of the Abasand community and include Yoshi Japanese Restaurant, with a selection of different types of sushi, bento boxes, and other Asian favourites; Cedars Bakery & Restaurant, offering an expansive menu of kababs, shawarma, and baked goods; and Yasso's Greek Cuisine, a local Greek restaurant.
Local bars near the Abasand neighbourhood include Tavern on the Main and Bailey's Pub, which has karaoke and comedy nights. Nagaad's Boutique is an area retailer that sells clothing, accessories, and other items.
Downtown
Downtown Amenities
Tavern on the Main
MacDonald Island Park
Yoshi Japanese Restaurant
LAV War Memorial
Located between the Athabasca and Clearwater Rivers, <a href="https://www.fortmcmurrayrealestate.com/downtown-homes-for-sale/" title="Downtown Fort McMurray Homes For Sale">Downtown Fort McMurray real estate</a> offers comfort and convenience. The Downtown area serves as the central commercial hub for Fort McMurray, boasting restaurants, shops, and cultural locations for residents to enjoy.
Homes for sale in Downtown Fort McMurray usually cost between $249,000 and $799,000. House types include townhomes, condos, and custom-built homes, among others. Home sizes range between two bedrooms, three baths and six bedrooms, three baths.
Shopping locations in the Downtown area include the Peter Pond Mall, featuring a variety of stores, restaurants, and entertainment venues; The Source, a local game store selling games, systems, and other electronics; and Mark's, offering clothing in a variety of styles for men, women, and children.
In addition to shopping, Downtown also contains many restaurants, such Earls Kitchen & Bar, an upscale chain serving gourmet burgers, comfort food, and cocktails; Mitchell's Café, a sandwich shop offering a variety of sandwiches, expresso, and homemade baked goods; and Cora, a breakfast restaurant.
Residents can also visit the <a href="https://fortmcmurrayheritage.com/" target="_blank">Fort McMurray Heritage Village</a>, a collection of historical buildings where visitors can experience a part of Fort McMurray's past, and Borealis Park, a small area park with a 0.3-mile walking trail.
Gregoire
Gregoire Amenities
Brewskis Pub
McRay's Roadhouse Grill
Sitskaw Dog Park
Table 63
The Gregoire community is located to the south of Downtown Fort McMurray and sits alongside Memorial Drive, serving as the Industrial hub of Fort McMurray. The community is also the home of the <a href="https://oilsandsdiscovery.ca/" target="_blank">Oil Sands Discovery Center</a>, where residents can learn about the history, science, and technology of the oil sands the area is famous for.
<a href="https://www.fortmcmurrayrealestate.com/gregoire-homes-for-sale/" title="Gregoire Homes For Sale">Gregoire real estate</a> prices range between $150,000 and $996,000. House sizes range from two bedrooms and one bath to six bedrooms and five baths. Homes in the area come in various types, including condominiums, modern contemporary, and custom-designed homes.
Local eateries near the Gregoire community include OJ's Steak and Pizza, with salads, pizza, and subs, among many other delicious menu items; the Urban Kitchen Table, located at the local Radisson Hotel & Suites; and Tim Hortons, a Canadian chain that sells coffee, baked goods, and other food items.
Other hotspots in Gregoire include <a href="https://www.denfortmcmurray.com/" target="_blank">The Den</a>, a local sports bar that also has a pool, darts, and arcade games; Mary Brown's Chicken, which serves mouthwatering signature chicken dishes, and potato wedges; and Fort City Play World, an indoor playground with a variety of activities for children of all ages.
Eagle Ridge
Eagle Ridge Amenities
Birchwood Trails
Tim Hortons
The Banquet
East Village Pub & Eatery
One of the newest neighbourhoods in the Fort McMurray area is Eagle Ridge, bordered by the Birchwood Trails. Eagle Ridge is a combination of urban and residential living, offering a variety of stores, restaurants, and other locations for residents to enjoy.
<a href="https://www.fortmcmurrayrealestate.com/eagle-ridge-homes-for-sale/">Homes for sale in Eagle Ridge</a> vary in price between a low of $420,000 and a high of $815,000. Housing types in Eagle Ridge include low-rise condos, townhouses, and luxury homes, among others. When it comes to size, homes are as tiny as two bedrooms, three baths and as large as seven bedrooms, four baths.
Area restaurants include The Rice Bowl, serving a variety of favourites; Eagle Ridge Eatery & Café, an all-day breakfast and brunch restaurant offering a variety of other menu items; and Streats Fort Mac Kitchen, a local taco restaurant with a variety of globally-inspired street food.
Other popular locations in the Eagle Ridge community include <a href="https://nicelocal.ca/alberta/entertainment/eagle_ridge_pond/" target="_blank">Eagle Ridge Pond</a>, a local green space where residents can have a picnic, get some sun, and enjoy the outdoors; Landmark Cinemas, an eight-screen movie theatre; and the local Save-On-Foods store, selling a variety of everyday household grocery items.
Make Yourself at Home in Fort McMurray's Best Neighbourhoods
Despite its distinction as an urban service center that is a part of the larger municipality of Wood Buffalo, Fort McMurray is still thriving city in its own right.
The robust energy industry provides many jobs in Fort McMurray. This has led to a boom in the population as people <a href="https://ilovemoving.com/moving-for-a-job/" target="_blank">move to the area searching for jobs</a> in the oil industry — and many of them choose Fort McMurray's neighbourhoods as their home. In addition to employment opportunities, the low <a href="https://www.fortmcmurrayrealestate.com/blog/fort-mcmurray-cost-of-living-guide/">cost of living in Fort McMurray</a> and the numerous desirable neighbourhoods make this city one of the most popular in Alberta.
2022-03-28T04:20:00-07:002022-11-03T08:54:02-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:164795 Condo Renovation Ideas That Increase Property Values<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/1785/image/renovation-ideas-for-condos.jpg" alt="How to Increase the Value of Your Condo Before Selling" width="475" />Do you own a <a href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-condos-for-sale/" title="Fort McMurray Condos For Sale">Fort McMurray condo</a>? Whether you're looking for <a href="https://www.fortmcmurrayrealestate.com/blog/buying-an-investment-property-tips/">investment property tips</a> or just want to update before you sell, this guide will give the insight you need to maximize your condominium's value. Increased security, boosting energy efficiency, and improving curb appeal are always to force appreciation on your condo investment. Ready to get to work? Here's how to make the most out of your condo.
Energy-Efficient Features
Providing <a href="https://www.fortmcmurrayrealestate.com/blog/make-energy-efficient-upgrades-with-a-high-roi/">energy-efficient features in your property</a> will increase its value considerably. If potential buyers or tenants can save money on their energy bills by moving into your condo, they will be inclined to pay more.
Smart home solutions are a great way to make your condo more efficient. Connecting your HVAC systems, heating, and lighting to the IoT will allow you to enable mobile energy management. If your tenant is out of the house, they can manage their devices remotely to ensure they left nothing on and are not wasting energy.
Modern Cloud Based Camera Systems
If you want to improve home <a href="https://www.fortmcmurrayrealestate.com/blog/home-security-features-for-condos-townhomes/">security for your condo or townhome</a>, consider the benefits of cloud-based security systems, like surveillance cameras.
If you invest in a cloud-based surveillance camera system, you'll be able to access your security data from anywhere using a mobile application or cloud-based control center. If you have cameras with tilt and zoom features, you can also operate your cameras remotely.
Increased security visibility can be desirable to potential tenants or buyers, increasing the value of your property.
By opting for encrypted cloud-based security platforms, you can ensure that your security data and camera functions do not fall into the hands of unauthorized users, providing more safety for your security data.
Smart Alarm Systems
Alarm systems are a necessary component of any condo health and safety strategy. To meet building safety regulations, you must invest in alarm systems. <a href="https://www.fortmcmurrayrealestate.com/blog/how-to-get-the-best-returns-from-your-smart-tech-home-upgrades/">Investing in smart home technology</a> can provide more agility in your security response procedures, which makes your condo more valuable to potential renters.
A smart alarm system can connect with other security tools like access control and video security. This means that your camera system will automatically capture the event, and your access control door locks will initiate lockdown procedures.
Alternatively, suppose your fire or carbon monoxide detectors are triggered. In that case, the alarm system will communicate with your access control and video security to initiate evacuation procedures, unlocking doors to allow residents to exit the building safely and quickly.
Home safety is a priceless investment and can never be overlooked when upgrading your condo before selling.
Commercial Strength Doors
Access control can prevent an intruder from entering your property, but only if your doors are strong enough to keep an intruder out. Consider investing in <a href="https://www.avigilon.com/blog/commercial-security-doors" target="_blank">commercial-grade security doors</a> with high-quality materials. These doors will be highly resistant to any entry attempt and will combat an individual trying to break into your property with force.
You should consider installing these more robust doors in your property's entry points, along with any shared or external areas like parking garages - this way, your tenants will be safe in their homes, and their cars will be safe when stored in your parking facility.
Best Condo Renovations
More than anything, the way a property looks and its condition drive its value - would you want to live in a run-down space?
To increase your Fort McMurray condo's value, you must evaluate the areas where the property could use <a href="https://www.fortmcmurrayrealestate.com/blog/vacation-home-maintenance-guide/">maintenance and renovation</a>. Below are some of the best places to start when performing maintenance on your property.
If the kitchen in your condo looks tired and needs cleaning (even when it is clean), you should consider investing in a kitchen renovation. Painting cabinets, replacing sealant, and updating kitchen appliances can seriously impact how attractive it is to potential buyers and tenants.
If the grout in your bathroom is moldy, and the bathroom fixtures are broken or damaged, you should consider performing some maintenance. Replacing tiling, grout, and broken bathroom fixtures can drastically increase the value of your property.
Regardless of the conditions of your walls, painting them in a neutral color can create a fresh, clean, and new feel in the property. If you repaint, you will seriously refresh the space and make it more attractive to potential buyers.
If you start with these three areas, you're bound to increase your property's value drastically.
Increase the Value of Your Fort McMurray Condo
When it comes to increasing the value of your Fort McMurray condo, there are several avenues you can take. You can perform maintenance to ensure the property is appealing, attractive, and in perfect condition. Or, you can invest in smart security and energy management to ensure your property is modern, sophisticated, and secure. Consider implementing these best practices to increase the value of your property and get the most from your investment.2022-03-22T10:58:00-07:002022-12-22T12:11:03-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:13120Best Jobs in Fort McMurray: 2023 Job Opportunities & Economic Guide<img src="/userFiles/1785/image/fort-mcmurray-economy-guide.jpg" style="display: block; margin: 0 auto 20px auto;" alt="Fort McMurray Economy Guide" />
Fort McMurray, colloquially known as McMurray and sometimes Fort Mac, is one of the largest communities in the Athabasca tar sands region. Formerly a city, it's now an urban service area under the Regional Municipality of Wood Buffalo and a key driver of Alberta's and Canada's economy, home to one of the world's largest tar sands reserves. The <a href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-homes-for-sale/" title="Fort McMurray Homes For Sale">Fort McMurray community</a> is also surrounded by miles of the boreal forest and has a wealth of natural attractions, ranking it among one of the top tourist destinations in the country.
Those moving to Fort McMurray may be interested in the local job market and the largest companies in the area. Read on for a detailed overview of the region's key industries and the general state of Fort McMurray's economy.
Top Employers in Fort McMurray
<img src="https://assets.site-static.com/userfiles/1785/image/top-employers-in-fort-mcmurray.jpg" alt="Largest Employers in Fort McMurray, AB" style="float: right; max-width: 400px; padding: 0 0 10px 10px; background-color: #fff;" />For an urban service area whose primary economic growth stems from the oil industry, it's no surprise that most of Fort McMurray's top employers are in the said industry. <a href="https://www.suncor.com/" target="_blank">Suncor Energy</a> specializes in the production of synthetic crude oils. According to Forbes, Suncor is one of the largest public companies globally. It reports an average net income of $2.899 billion annually, has over 12,000 employees and offers multiple career opportunities, including engineering. The company even provides relocation assistance to job seekers <a href="https://www.fortmcmurrayrealestate.com/blog/moving-to-fort-mcmurray/">moving to Fort McMurray</a>.
Syncrude is yet another notable employer in Fort McMurray. It's one of the largest synthetic crude oil producers globally, with an average capacity of 350,000 barrels daily. The company is a joint venture between Suncor Energy and three other partners and employs an estimated 4,900 people in the area.
If looking for career opportunities outside the oil industry in Fort McMurray, Stantec, a renowned professional design and consulting services company established in 1954, is an excellent option. They provide services globally and employ over 22,000 people from over 350 locations, including Fort McMurray. The company has its head offices in Alberta and an office in Fort McMurray.
Fort McMurray has a string of top companies in each industry, such as the North American Construction Group in heavy construction and mining. It is the leading provider of these services and has 1,730 employees. The Fort McMurray service area also boasts offices and branches of many global companies such as Amazon, Accenture, Alberta Health Services, Starbucks, and McDonald's.
Additional Large Companies in Fort McMurray
Canadian Natural Resources
CNOOC Petroleum North America ULC
Global companies like IBM, Deloitte, etc.
Fort McMurray Economy Facts & Figures
Fort McMurray remains an integral part of the Canadian economy. The Athabasca Oil Sands are life-long reserves projected to contribute up to $2,106 billion to the country's GDP in the long run. The area makes up a significant part of the Regional Municipality of the <a href="https://www.fortmcmurrayrealestate.com/wood-buffalo-homes-for-sale/" title="Wood Buffalo Homes For Sale">Wood Buffalo community</a>, which reports annual average operating revenues of $718.4 million. Because the former city is set on the third-largest oil sand reserve globally, it accounts for 14.6% of the country's workforce in the oil and gas industry.
The oil and gas industry also indirectly contributes to the economy by attracting investors and entrepreneurs to Fort McMurray. These individuals often create innovative startups and invest in sectors such as construction, conversely creating more sources of revenue and driving economic growth.
Other than the Athabasca Oil Sands, Fort McMurray's economy is also driven by tourism, which significantly contributes to Alberta's $8.2 billion annual average revenue from the travel industry. At 103, the average <a href="https://www.fortmcmurrayrealestate.com/blog/fort-mcmurray-cost-of-living-guide/">cost of living in Fort McMurray</a> is higher than in other Canadian areas. However, food is affordable, and Alberta's low taxes often see residents earn high discretionary income.
Residents also generally enjoy a higher purchase power than those in Vancouver and Toronto. Fort McMurray's housing sector is often relatively stable, with single-family homes and condos for sale selling at a median sale price of $700,000.
Fort McMurray Industries
As mentioned, oil and natural gas is the key industry in Fort McMurray. The industry is the key reason the region grew into prominence, even earning the title of "Canada's Economic Treasure." This urban service area is home to crude bitumen reservoirs and the country's top oil producer. Key players in the industry include Syncrude, Suncor Energy, Athabasca Oil Corporation, CNOOC Petroleum North America, and Canadian Natural Resources.
Thanks to its location at the confluence of the Athabasca, Clearwater, Hangingstone, and Horse rivers, and the miles of beautiful boreal forests around it, Fort McMurray attracts numerous tourists annually, making tourism another key industry in the region. Some tourists come to chase the famous northern lights typical of boreal forests, while others come to explore the numerous attractions linked to the oil industry, such as the <a href="https://oilsandsdiscovery.ca/" target="_blank">Oil Sands Discovery Center</a>.
Because Fort McMurray's winters are typically long and extra chilly, it attracts hordes of winter sports enthusiasts who come searching for activities like skiing, snowmobiling, and ice fishing. Fort McMurray Wood Buffalo Economic Development and Tourism often oversees Fort McMurray's tourism sector. Forestry, natural gas, pipeline transport, and recently, nascent tech are critical industries to Fort Mac's economy.
Top Industries in Fort McMurray
Oil
Natural gas
Pipeline transport
Forestry
Tourism
Living in Fort McMurray
Initially a fur-trading post, Fort McMurray is one of Canada's key economic drivers. The urban service area is home to more than 600,000 people who moved here for the endless career and self-employment opportunities available. Fort McMurray also boasts abundant natural attractions and various housing options, ranging from <a href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-condos-townhomes-for-sale/" title="Fort McMurray Condos & Townhomes For Sale">condos and townhouses</a> to single-family detached homes, making it a great place to work and live.
2022-03-21T06:05:00-07:002022-10-27T15:56:41-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:12795Fort McMurray Cost of Living: Essentials For Your 2023 Budget<img src="/userFiles/1785/image/fort-mcmurray-cost-of-living.jpg" style="display: block; margin: 20px auto;" alt="Fort McMurray Cost of Living Guide" />
How Much Does it Cost to Live in Fort McMurray?
The <a href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-homes-for-sale/" title="Fort McMurray Homes for Sale">city of Fort McMurray</a> is in northeast Alberta, near the Athabasca oil sands. The urban service area of about 67,000 people has played a significant role in developing Canada's oil industry. Although oil extraction began in the 1930s, the Great Canadian Oil Sands plant, now the Suncor plant, did not open until 1967. Growth has been rapid, especially after the 1979 energy crisis. As a result, housing prices tend to be more expensive than those in similar-size cities. The government, however, has promised to release more land for <a href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-new-construction-homes-for-sale/" title="Fort McMurray New Construction Homes for Sale">new construction homes</a> soon, which will increase the housing supply.
The overall cost of living in Fort McMurray is 26 percent higher than the national average; however, some jobs pay more in Fort McMurray than in other parts of Canada. For example, the average senior engineer earns about seven percent more in Fort McMurray than in Calgary and approximately 20 percent more than in Edmonton. Fort McMurray is the most expensive city in Alberta and the 10th most expensive city in Canada. Fort McMurray is also ranked in the top half of the Best Places to Live in the World list. Read on to discover a better idea of the cost of living in Fort McMurray, Alberta.
Table of Contents
<a href="https://www.fortmcmurrayrealestate.com/#fort_mcmurray_housing_costs">Fort McMurray Housing Costs</a>
<a href="https://www.fortmcmurrayrealestate.com/#median_home_price">Median Home Price</a>
<a href="https://www.fortmcmurrayrealestate.com/#median_rent">Median Rent</a>
<a href="https://www.fortmcmurrayrealestate.com/#utilities">Utilities</a>
<a href="https://www.fortmcmurrayrealestate.com/#food_costs_in_fort_mcmurray">Food Costs in Fort McMurray</a>
<a href="https://www.fortmcmurrayrealestate.com/#groceries">Groceries</a>
<a href="https://www.fortmcmurrayrealestate.com/#restaurants">Restaurants</a>
<a href="https://www.fortmcmurrayrealestate.com/#fort_mcmurray_transportation_costs">Fort McMurray Transportation Costs</a>
<a href="https://www.fortmcmurrayrealestate.com/#health_care_costs_in_fort_mcmurray">Health Care Costs in Fort McMurray</a>
<a href="https://www.fortmcmurrayrealestate.com/#child_care_costs_in_fort_mcmurray">Child Care Costs in Fort McMurray</a>
<a href="https://www.fortmcmurrayrealestate.com/#fort_mcmurray_entertainment_costs">Fort McMurray Entertainment Costs</a>
<a href="https://www.fortmcmurrayrealestate.com/#fort_mcmurray_salaries">Fort McMurray Salaries</a>
<a href="https://www.fortmcmurrayrealestate.com/#consider_living_in_fort_mcmurray">Consider Living in Fort McMurray</a>
Fort McMurray Housing Costs
Although housing prices are slightly higher than for many similarly-sized cities in Canada, Fort McMurray's housing market ranks as the most affordable in Alberta and one of the most affordable in the world based on home price to income ratio.
The average home price in Fort McMurray is about $440,000 and is a little more expensive than the Canadian average. It also is more expensive than houses in similar-size cities. The average price for Grand Prairie, Alberta, is about $320,000, and for Airdrie, about $360,000. Both Airdrie and Grand Prairie have populations comparable to Fort McMurray. Housing prices in Fort McMurray are roughly similar to prices in Calgary, which has a population of about 1.4 million.
On the other hand, Fort McMurray's housing is affordable based on residents' incomes. The affordability index in Fort McMurray is two for dual-income households and four for single-income households. This index means that the average home price is only two times the average income of a household in which two people are working and four times the average income of a household with only one wage earner. The index for Grand Prairie is 2.6 for a dual-income home and 5.6 for a single household; in Airdrie, the indices are 3 and 6.2. The average affordability index for a dual-income household in Canada is 4.4, meaning Fort McMurray is twice as affordable as the average Canadian city.
Median Home Price
The median home price varies depending upon the type of home and its location within the city. Properties range from about $100,000 to more than $2 million. For example, a 1,000-square-foot <a href="https://www.fortmcmurrayrealestate.com/thickwood-townhomes-for-sale/" title="Thickwood Townhomes for Sale">townhome in Thickwood</a> might sell for about $150,000, while a 2,700-square-foot detached luxury home in the <a href="https://www.fortmcmurrayrealestate.com/timberlea-homes-for-sale/" title="Timberlea Homes for Sale">Timberlea community</a> might sell for $1.2 million. An 800-square-foot semi-detached <a href="https://www.fortmcmurrayrealestate.com/thickwood-homes-for-sale/" title="Thickwood Homes for Sale">home in Thickwood</a> might sell for $220,000, while a 1,600-square-foot <a href="https://www.fortmcmurrayrealestate.com/stone-creek-townhomes-for-sale/" title="Stonecreek Townhomes for Sale">Stonecreek townhome</a> might sell for about $330,000.
Median Rent
The median rent is about $1,200 for a one-bedroom apartment, but this varies depending upon the type of rental, size, and location. The median rent for a two-bedroom apartment is about $1,500; a three-bedroom, about $2,250; and a four-bedroom apartment or house is about $2,600. A one-bedroom rental apartment in <a href="https://www.fortmcmurrayrealestate.com/downtown-homes-for-sale/" title="Downtown Fort McMurray Homes for Sale">downtown Fort McMurray</a> would be about 10 percent more expensive than one outside of town. The difference in price for a three-bedroom apartment in the City Centre vs. the suburbs is negligible.
Utilities
<img src="https://assets.site-static.com/userfiles/1785/image/fort-mcmurray-utilities.jpg" alt="Utilities in Fort McMurray" style="float: right; max-width: 400px; padding: 0 0 10px 10px; background-color: #fff;" />Utilities are an essential part of a housing budget. An individual might expect to pay an average of about $130 a month for electricity, heating, and water. A larger household might expect to pay about $200. Basic Internet service will cost about $60, with Internet and TV bundles costing about $115 to $200. Internet and TV providers also frequently offer introductory specials that can save $10 to $45 a month for a limited time, such as two years.
Home insurance costs about $180 a month on average, ranging from $80 to $280. Installing security features such as alarms, smoke detectors, lighting, and cameras will help lower insurance premiums.
Food Costs in Fort McMurray
Food also costs more in Fort McMurray than in most other cities in Canada. One person might spend about $600 a month on food. The cost of food includes restaurants, fast food, and groceries, including meats, dairy products, produce, bakery products, and miscellaneous grocery products. Of course, those on a budget can save money by eating out less often, eating at less expensive restaurants, shopping at less expensive stores, and watching for special pricing.
Groceries
Fort McMurray has several grocery stores to choose from, including specialty grocers, supermarkets, superstores, neighbourhood grocers, and organic grocers. Here are prices a shopper might expect to pay for some everyday grocery items in Fort McMurray.
1 litre of milk: $1.50 to $1.80
One dozen eggs: $2.80 to $3.40
Loaf of bread: $2.80 to $3.40
1 kg chicken breast: $11 to $14
1 kg local cheese: $9.50 to $12
1 kg apples: $8 to $10
1 kg potatoes $2.40 to $3
Several stores, such as <a href="https://www.saveonfoods.com/sm/pickup/rsid/987/" target="_blank">Save-On-Foods</a>, specialize in discount prices; however, independent grocers and superstores such as Walmart can offer some good deals as well.
Restaurants
<img src="https://assets.site-static.com/userfiles/1785/image/fort-mcmurray-restaurants.jpg" alt="Restaurants in Fort McMurray" style="float: right; max-width: 400px; padding: 0 0 10px 10px; background-color: #fff;" />Fort McMurray has a variety of restaurant choices. The cost of a restaurant meal depends upon the type of restaurant, location, and meal chosen. A McMeal or similar meal at Burger King costs about $11. Just a cheeseburger is about $3.50. A cappuccino or espresso runs between $4.20 and $6. A beer in a pub is approximately $6.
A typical lunch costs about $19. Dinner in an inexpensive restaurant runs about $24; a three-course dinner for two at a mid-range restaurant runs about $100. A three-course meal for two at a fine dining restaurant could be more than $150. However, the price depends upon what menu choices are selected. For example, an appetizer, salad, and entrée for two at <a href="https://kegsteakhouse.com/en/menu/dinner" target="_blank">The Keg</a> would run between $80 and $182, depending upon the choices. A sandwich at the more moderately priced ZeeBar costs between $11 and $21, with burgers running from $12 to more than $30 depending upon the burger and trimmings. Entrées run from $16 to $48.
Fort McMurray Transportation Costs
The average cost of transportation in Fort McMurray is less than the average cost in other areas of Canada. On average, an individual spends about $575 a month on transportation. However, transportation costs vary based upon how far the individual travels and the modes. Fort McMurray Transit has routes extending throughout the city and suburbs. A one-way ticket will cost an average of $1.50, with a monthly pass averaging $48. Those older than age 65 and children under five ride for free on public transit. The starting price for a taxi is about $4.
Many prefer to travel by car. An economy car costs about $35,000, and gasoline is about $1.40 per litre. The average monthly cost for auto insurance is about $125, with a range of $70 to C$180. Auto insurance rates depend on several factors, including the car's year, make, model, and value; driving record; modifications made to the vehicle; distance driven and the purpose for driving; location; demographics; and coverage choices. Alberta mandates that drivers purchase third-party liability, accident benefits, and direct compensation property damage coverage. Drivers can also add comprehensive collision, rental car, loss of use, and ride-share coverage.
Health Care Costs in Fort McMurray
<img src="https://assets.site-static.com/userfiles/1785/image/fort-mcmurray-health-care.jpg" alt="Health Care in Fort McMurray" style="float: right; max-width: 400px; padding: 0 0 10px 10px; background-color: #fff;" />The <a href="https://www.alberta.ca/ahcip-what-is-covered.aspx" target="_blank">Alberta Health Care Insurance Plan</a> covers medically necessary physician and hospital services and some dental and oral surgeon services for eligible Alberta residents. It also provides partial coverage for podiatry and optometry services. It does not cover routine dental procedures, such as fillings and cleanings, or alternative medicine services like chiropractic and massage therapy.
An uncovered physician visit averages about $70, while an adult dental exam without X-rays costs about $110. An exam for a child with only baby teeth costs about $75. An exam for a child with some baby and some permanent teeth costs just over $100.
An annual veterinary checkup for a dog or cat averages about $120, including vaccinations. The cost for trimming a cat's nails is about $15.
Child Care Costs in Fort McMurray
Child care costs vary depending upon the type of care chosen and the number of children and their ages. Nannies are more expensive than child care centres. The average price of child care in a daycare facility ranges from $14,000 to $17,500 per year.
The average rate for a nanny in Fort McMurray is between $13 and $17 an hour. Two or three households might consider going together to hire a child care provider for a more affordable option.
Fort McMurray Entertainment Costs
<img src="https://assets.site-static.com/userfiles/1785/image/fort-mcmurray-entertainment.jpg" alt="Entertainment in Fort McMurray" style="float: right; max-width: 400px; padding: 0 0 10px 10px; background-color: #fff;" />Entertainment is a discretionary expense and can be adjusted to suit any budget. Several fun activities are free, such as kayaking or hiking. Another example is the Northern Lights display outside of town on clear winter nights.
Many other activities are relatively inexpensive. Community recreation memberships are one example. The Suncor Community Leisure Center has a curling rink, kid's clubhouse, indoor playground, fitness centre, leisure ice rink, climbing wall, dance academy, squash and racquetball courts, track, pool, and winter activities. Annual memberships start at about $700 for adults, $450 for youth, $300 for children, or $1,200 for a group. <a href="https://www.macdonaldisland.ca/memberships" target="_blank">MacDonald Island Park</a> has similar prices and amenities.
Cinema tickets for an international release average about $15 per person. Museums also are relatively inexpensive; for example, a visit to the Oil Sands Discovery Center is about $29 for families and $11 for an adult between 18 and 64. Seniors receive a discount. Adult tickets to Fort McMurray Oil Barons games or an Alberta Junior Hockey League team are about $15. Tickets to games of the Fort McMurray Giants, a Western Canadian Baseball League team, are about $18 for adults.
Theatre and concert tickets might cost between $50 and $100 per person or more, depending upon the act and venue. A one-ounce cocktail at a local bar will run about $8 to $10, and a beer in a pub will be about $6.
Alberta has no provincial tax, so services and goods are taxed only at the 5 percent federal rate.
Fort McMurray Salaries
Costs are all relative based on salary. Fort McMurray residents have one of the highest average salaries in Canada at about $70,000 annually. Federal, provincial, CPP, and EI deductions total about 22 percent on average, making the average net pay about $55,000 or $4,600 per month.
Entry-level jobs in Fort McMurray start at about $35,000 annually, but experienced workers can earn more than $100,000. Some of the highest salaries are in oilfield construction. For example, the average oilfield construction salary is about $79,000, but some pay over $200,000. Examples of high-paying jobs and approximate annual salaries are:
Physician: $230,000
Attorney: $95,000 to $205,000
Heavy-duty mechanic for an oilfield service: $102,000 to $170,000
Mechanical engineer: $114,000 to $130,000
Field service engineer: $135,000
Human resources manager: $130,000
Web developer: $100,000
Accountant: $90,000
Registered nurse: $90,000
Other jobs include retail sales associates (approximately $16 an hour), food service workers (about $18.50 an hour), retail store managers (estimated at $20 an hour), labourers (around $25 an hour), and tanker drivers (between $30 and $35 an hour).
The unemployment rate in Fort McMurray is roughly equal to that of the rest of Canada.
Consider Living in Fort McMurray
Fort McMurray, nestled in a boreal forest at the confluence of four rivers, offers an excellent quality of life with high wages. Housing prices are among the most affordable in the country, considering the area's salaries. Houses also span a variety of types and prices, and the province's health insurance program and lack of a sales tax further contribute to the area's affordability. Fort McMurray residents also can find several ways to spend their leisure time. The city has parks, trails, and recreation centres, plus a variety of restaurants and other fun activities to suit all budgets.
2022-02-04T09:15:00-07:002022-10-27T15:55:20-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:12794Moving to Fort McMurray: 7 Things to Love About Living in Fort McMurray<img src="/userFiles/1785/image/fort-mcmurray-moving-guide.jpg" style="display: block; margin: 0 auto 20px auto;" alt="Moving to Fort McMurray, AB Living Guide" />
Living in Fort McMurray, AB
With a motto like "We Have The Energy," one already knows that the <a href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-homes-for-sale/" title="Fort McMurray Homes for Sale">city of Fort McMurray</a> is a place with powerful natural resources. The region sits comfortably in the center of what is known as the Athabasca oil sands. Producing 1.3 million barrels of oil every day, it is one of the country's richest oil deposits. However, these oil fields are covered by miles of beautiful forests and natural green space.
Fort McMurray also has many waterways in the area that mark the terrain. Athabasca River and Clearwater River are the two most significant sources of moving water, with both meeting to form a hat over the city. Population estimates place the community at over 72,000 residents, otherwise known as Mcmurrians. Over the last 20 years, the region has experienced steady growth in residents, as the 2001 Census revealed only 39,000 living nearby.
As a jewel of Alberta, Fort McMurray has an excellent economic base and beautiful natural views. It is no wonder why so many people are moving here each year. Plenty of <a href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-new-construction-homes-for-sale/" title="Fort McMurray New Construction Homes for Sale">new construction homes</a> and waterfront homes dot the landscape, but there is always room for another household. Keep reading to discover what to expect when moving to Fort McMurray.
Table of Contents
<a href="https://www.fortmcmurrayrealestate.com/#fort_mcmurray_cost_of_living">Fort McMurray Cost of Living</a>
<a href="https://www.fortmcmurrayrealestate.com/#job_market_in_fort_mcmurray">Job Market in Fort McMurray</a>
<a href="https://www.fortmcmurrayrealestate.com/#popular_industries_in_the_area">Popular Industries in the Area</a>
<a href="https://www.fortmcmurrayrealestate.com/#things_to_do_in_fort_mcmurray">Things to Do in Fort McMurray</a>
<a href="https://www.fortmcmurrayrealestate.com/#outdoor_activities">Outdoor Activities</a>
<a href="https://www.fortmcmurrayrealestate.com/#local_attractions">Local Attractions</a>
<a href="https://www.fortmcmurrayrealestate.com/#restaurants_&_nightlife">Restaurants & Nightlife</a>
<a href="https://www.fortmcmurrayrealestate.com/#climate_in_fort_mcmurray">Climate in Fort McMurray</a>
<a href="https://www.fortmcmurrayrealestate.com/#fort_mcmurray_traffic">Fort McMurray Traffic</a>
<a href="https://www.fortmcmurrayrealestate.com/#alternative_routes">Alternative Routes</a>
<a href="https://www.fortmcmurrayrealestate.com/#public_transportation_in_fort_mcmurray">Public Transportation in Fort McMurray</a>
<a href="https://www.fortmcmurrayrealestate.com/#fort_mcmurray_schools">Fort McMurray Schools</a>
<a href="https://www.fortmcmurrayrealestate.com/#finding_fort_mcmurray">Finding Fort McMurray</a>
Fort McMurray Cost of Living
Compared to the rest of the country, the cost of living in Fort McMurray is about 26% higher than the national average. That means residents will pay a little more for most expenses than in other cities in Canada. However, the average salary in the area is also higher than the rest of the nation. At about $70,000 annually, most residents earn enough money to thrive.
For comparison, <a href="https://www.insurdinary.ca/average-income-in-canada/" target="_blank">average salaries in Canada</a> are about $55,000. The same figure limited to the Albertan province is $62,000. Fortunately, all wages across the nation have grown at about 4% since January 2019. Perhaps most interesting, these costs are not exactly uniform. The average prices of a resident's favourite goods and services may impact the budget more than general statistics.
For example, a single-bedroom apartment in <a href="https://www.fortmcmurrayrealestate.com/downtown-homes-for-sale/" title="Downtown Fort McMurray Homes for Sale">downtown Fort McMurray</a> would be about $1,130 a month. However, residents may find similar-sized arrangements in other areas of the region for as much as $70 cheaper. Three bedrooms downtown are about $2,000 monthly. Buying a house in the suburbs will likely cost residents a monthly mortgage of about $3,300.
Adding utilities for a household of three is about $200 each month. Tech-savvy residents will need approximately $60 for internet access. Food is another cost to consider, but it is possible to save money or spend more depending on personal tastes. Everyday grocery items are priced at approximately $2.70 for eggs, $9 for cheese, $2.40 for an onion, and about $2.40 for potatoes. Round steak is about $12 per kg, while 2 litres of soda is approximately $2.
More information about cost of living in Fort McMurray:
<a href="https://www.erieri.com/cost-of-living/canada/alberta/fort-mcmurray" target="_blank">Cost of Living in Fort McMurray, Alberta - erieri.com</a>
<a href="https://moving2canada.com/living-in-fort-mcmurray/" target="_blank">Fort McMurray, Alberta Cost of Living - Moving2Canada.com</a>
Job Market in Fort McMurray
Potential new residents in Fort McMurray should also consider the local economy. Specifically, researching the largest employers can provide valuable insights into the local financial and career culture. The community is mainly an energy town, given access to the large oil fields. However, several career paths are booming due to oil or the growing population.
Some of the largest individual employers in the region are typical retail and service shops. Walmart, McDonald's, and Starbucks all have locations in the area. Delivery giant Amazon also has a local distribution center. Accounting firms Deloitte and KPMG have nearby offices.
The gas industry supplies the majority of paychecks for the city. Energy giant Suncor has a headquarters in nearby Calgary and a global base of more than 30,000 employees. The company has several operations in the Fort McMurray area, including oil sands extraction. Canadian Natural Resources, Ltd. also has operations in the region. Their Horizon Oil Sands Site is about 70km north of downtown and holds another 6.9 billion barrels of oil reserves.
Energy operations and support industries are part of why residents in the community have a median household income of $128,000 versus the province-wide average of $95,000. The region has a labour force participation rate of 77.4%, significantly more than the rest of Alberta at 70.9%.
More information about finding a job in Fort McMurray:
<a href="https://www.glassdoor.com/Explore/top-companies-fort-mcmurray_IL.14,27_IC2274645.htm" target="_blank">Top Workplaces in Fort McMurray - GlassDoor.com</a>
<a href="https://ca.indeed.com/jobs?l=Fort+McMurray,+AB" target="_blank">Search for Jobs in Fort McMurray - Indeed.com</a>
Popular Industries in the Area
Around 41,000 residents are employed in Fort McMurray, while another 38,000 visit part of the year for work. The largest industry by the number of workers is mining, quarrying, and oil/gas extraction, with almost 36,000 people. As expected, due to the booming population growth, the construction industry is the second largest, with just over 15,000 in that segment. No other industry has more than 6,000 workers, with accommodation and food services just past 5,000.
However, the breakdown by industry may not tell the entire story. When examined by occupation, the largest segment of workers are in trades, transport, and equipment operation, with nearly 30,000 in that arena. At just over 10,000, the second-largest category of workers is in sales and service jobs. More than 9,000 operate in business, financial, or administrative roles. The top six professions are the natural and applied sciences, management, and manufacturing and utilities-related positions. While the region is overwhelmingly powered by energy, workers from various backgrounds can find opportunities within that niche.
Things to Do in Fort McMurray
It is always great to move to a region with an excellent economic landscape. However, that is only part of the picture. Fortunately, Fort McMurray is home to many fun internal and external pastimes.
New residents will want to get familiar with the community through excursions. Visit <a href="https://www.mcmurrayaviation.com/aerialtours/" target="_blank">McMurray Aviation</a> to schedule one of their aerial tours. Given the legacy of the energy industry, checking out the Oil Sands Discovery Center is another excellent idea. However, there are several ways to spend your time in the city beyond these initial outings.
Outdoor Activities
<img src="/userFiles/1785/image/fort-mcmurray-activities.jpg" style="float: right; padding: 10px 0 10px 10px; width: 400px;" alt="Activities & Entertainment in Fort McMurray" />There is nothing quite like getting your heart pumping in the great outdoors. Try the Wood Bison Gateway & the Matcheetawin Discovery Trails for two to three hours of outdoor exploration. Those looking for a more relaxing weekend outside may prefer the Fort McMurray Golf Club. For a combination of great fun and fresh air, visit the Vista Ridge All Seasons Park. As the name indicates, the park is a great place to see across the seasons, mainly because the experience in winter is very different from summer.
Those who love the outdoors but have a competitive streak should visit McDonald Island Park. The massive complex has a little bit of everything for sports lovers. The Shell Place is an excellent location to watch or play a wide variety of live sports entertainment. Miskanaw Golf Club is an 18-hole course filled with beautiful trees and river backgrounds.
Local Attractions
People who like to spend their free time with novel experiences will also find many attractions in Fort McMurray. Grab some friends and visit Mr. E's Solve-it-torium. The facility offers four separate escape rooms, requiring a challenging night of puzzle-solving to proclaim victory. Shoppers may prefer a challenge of a different sort. Finding deals at the Peter Pond Mall is easy, with some of the most popular chains and unique boutique stores inside.
Those searching for more culture than fun can enjoy the Keyano Theatre & Arts Centre. The facility schedules music, plays, dance, and other forms of performance entertainment.
Restaurants & Nightlife
Whether on the weekend or a weekday night, Fort McMurray also has an excellent scene for food and fun. Try the Shawarma Palace for unique Middle Eastern or Mediterranean dining. The Keg Steakhouse + Bar is a great place for steak and seafood combinations.
If nightlife is the preferred way to relax, try the East Village Pub and Eatery for Buffalo Chicken Egg Rolls and draft beers. The Canadian Brewhouse is a great place to watch the game with Hot Apple Cider and Three Bomb Beef Sliders.
Climate in Fort McMurray
<img src="/userFiles/1785/image/fort-mcmurray-climate.jpg" style="float: right; padding: 10px 0 10px 10px; width: 400px;" alt="Weather & Climate in Fort McMurray" />The <a href="https://en.climate-data.org/north-america/canada/alberta/fort-mcmurray-4623/" target="_blank">climate in Fort McMurray</a> is as expected for central Canada. New residents should anticipate some cold temperatures with rain and snow. The winter averages are about 1.8 ºC with 474 mm of precipitation in some form.
The best time to visit Fort McMurray is summer, from June through August. The warmest months of the year are June and July, with both reaching highs very close to 20 ºC. May through July are the best months for sunshine lovers, with each day getting more than 12 hours on average.
More information about the climate in Fort McMurray:
<a href="https://weather.com/weather/tenday/l/CAXX0146:1:CA" target="_blank">Fort McMurray 10-day Weather Forecast - Weather.com</a>
<a href="https://weatherspark.com/y/2795/Average-Weather-in-Fort-McMurray-Canada-Year-Round" target="_blank">Average Weather in Fort McMurray - WeatherSpark.com</a>
Fort McMurray Traffic
Despite the growing population, traffic in the area is relatively decent compared to other communities. The heaviest travelled routes involve Highway 63, which runs through the North to South. This is the only route directly connecting the Athabasca Oil Sands to the north and Edmonton to the south. Morning rush hours can begin as early as 7 a.m., with the evening equivalent tapering off around 7 p.m.
<br /><a href="https://www.google.com/maps/place/Fort+McMurray,+AB,+Canada/data=!4m2!3m1!1s0x53b03aeeff1a4459:0x5c8133330dca74b7?sa=X&ved=2ahUKEwiasM-SweT1AhUHmWoFHXpiD2UQ8gF6BAg_EAE" target="_blank">View Larger Map</a>
There are several <a href="https://www.rmwb.ca/en/roads-and-construction/parking.aspx" target="_blank">public parking lots in Fort McMurray</a>, especially near athletic fields and parks. However, parking may be private or related to properties owned by retail or employers outside these areas. Because most area employers are not downtown, the city does not experience the same workday congestion common to different communities.
Driving from Edmonton to Fort McMurray takes about five hours in ideal conditions. There are no other major towns or destinations in the area.
More information about traffic in Fort McMurray:
<a href="https://www.viamichelin.com/web/Maps/Map-Fort_McMurray-_-Alberta-Canada" target="_blank">Fort McMurray Drive Time Map - ViaMichelin.com</a>
<a href="https://www.rmwb.ca/en/roads-and-construction/roads-and-construction.aspx" target="_blank">Fort McMurray Road Construction News - RMWB.ca</a>
Alternative Routes
Because the area has been growing rapidly for two decades, there are no multiple routes to destinations. Highway 63 is the only major road running through the city, and no other highways run similar paths. The best advice is to leave earlier and drive safely.
Public Transportation in Fort McMurray
While the city does have cabs and water transportation available, most people use the bus for <a href="https://www.rmwb.ca/en/transit/transit.aspx" target="_blank">public transport in Fort McMurray</a>. About 17 routes run through the town, reaching destinations like the Fort McMurray Airport and Stone Creek Village. Public transportation is about $1.50 a ticket, and $54 is required for a monthly package.
Several rural bus routes run between Fort McMurray and nearby areas. Fares for these trips are $10, with a 10-ride package available for $80. Taxi rides average about $24 for an 8 km trip, or people can pay $.83 for a litre of gas.
Fort McMurray Schools
<img src="/userFiles/1785/image/fort-mcmurray-education.jpg" style="float: right; padding: 10px 0 10px 10px; width: 400px;" alt="Schools & Education in Fort McMurray" />One final consideration before relocating to Fort McMurray is the school opportunities. Because this is a fairly small community, these options are limited in quantity. Fort McMurray Public Schools is responsible for educating around 6,000 students in the area. The district has about 10 elementary schools, three high schools, and three alternative programs.
<a href="https://www.keyano.ca/en/index.aspx" target="_blank">Keyano College</a> is the only institution of higher learning in the city. They educate about 4,000 part-time and 2,100 full-time students. Established in 1965, the organization offers a variety of certificates, training programs, and 4-year degrees.
Finding Fort McMurray
Before any relocation effort, it is always best to conduct personal research to establish a good fit. With its robust economy, growing population, and beautiful natural scenery, Fort McMurray is fast becoming the best destination for life. Whether working in the energy sector directly or building entrepreneurial niches, this is the place for opportunities.
2022-02-02T13:52:00-07:002022-10-27T15:54:52-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:97734 Red Flags You Need To Know Before Buying a HomeFor informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.
<img class=" img_box_right" src="https://assets.site-static.com/userfiles/1785/image/are-there-buyer-red-flags.jpg" alt="4 Home Buying Red Flags You Need to Know" />When <a href="https://www.fortmcmurrayrealestate.com/blog/how-to-prepare-for-buying-a-home/" target="_blank">buying a new home</a>, all buyers want to make sure they’re getting a good deal and buying a home that they’re going to love. However, if a buyer doesn’t know what to look for, they can potentially end up purchasing a home that has a lot of problems that can cause them to have to spend a lot of money later to fix. In order to avoid this, home buyers should know what to look for when going to home showings to help avoid committing to a home that has a lot of inconvenient problems. Here are some of the most important red flags all buyers should know and be able to identify.
Signs of Insects in the Home
One of the most difficult things in a home for a new homeowner to deal with is an <a href="https://respondersbc.ca/knowledge-centre/bugging-out-5-signs-it-is-time-to-call-pest-control-for-your-insect-infestation/" target="_blank">insect infestation</a>. Once insects have taken root in a home, it can be devastating. Here are some of the different signs that insects may leave in a home:
Egg shells
Shed skins
Fecal matter
Foul odors
Chew marks in furniture or walls
Insects can make homes unhealthy to live in or even destroy them, depending on the species. The new homeowner may even have to evacuate the home if it needs to be fumigated in order to get rid of the infestation.
The Price is Too Good to be True
The saying goes, “If it’s too good to be true, it probably is.” This holds true for homes, as well. If a home is priced spectacularly and the buyer can’t figure out why the price is so low, there’s a good chance the owner isn’t saying something about the home. When looking at homes with a price that seems too good to be true, take everything with a grain of salt. The home may be perfectly alright and it’s only priced low due to the homeowners not knowing the market or trying to make a quick sale. However, it’s always best to tread with caution in these situations.
Not Many Photos
On a home listing, the easiest and best way to draw buyers in to come see the home is to include a lot of enticing photos that showcase all of the home’s best features. If a listing doesn’t have many photos of the home, it can mean that the seller is afraid to post photos because of the home’s appearance. A lack of photos can also mean that the listing wasn’t completed before posting, but buyers should still be wary. If a listing only has a photo of the exterior and nothing else, it may mean the seller is trying to hide something.
Everyone is Leaving the Neighborhood
Some seasons are more popular than others for moving, and it’s possible to find that a few homes on the same street are for sale. However, if it seems like everyone is picking up and moving, it can be a bad sign. If everyone is leaving at once, it can mean that something is making them leave, like for instance, a new construction project that may be a problem later on, like a loud interstate or a shopping center very close to the residential neighborhood. If it seems like something like this may be a problem, buyers should ask their real estate agent to look into the matter.
<a href="https://www.fortmcmurrayrealestate.com/eagle-ridge-homes-for-sale.php" target="_blank">Eagle Ridge home buyers</a> should always be familiar with the different red flags they can encounter when looking for a new home. Being able to identify them early on can help prevent buyers from purchasing a home that will cause them problems later on down the line.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.
2019-09-25T05:25:00-07:002020-11-05T06:00:41-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:9772Buying a Home? Here's What You Should Know About Interest Rates
<img class=" img_box_right" src="https://assets.site-static.com/userfiles/1785/image/what-are-mortgage-interest-rates.jpg" alt="Everything You Need to Know About Mortgages and Interest Rates" />If you're a home buyer planning to <a href="https://www.fortmcmurrayrealestate.com/blog/buying-a-home-for-the-first-time-a-guide-to-mortgages/" target="_blank">get a mortgage</a>, you probably know that your interest rate will have a big impact on your monthly mortgage payment. Knowing how important interest rates are, you may have questions about how they work and what you can do to reduce the amount of money you spend on interest. If you're thinking about buying a home soon, here's what you need to know about mortgage interest.
For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.
What Is Interest?
Interest is an additional cost added to the repayment of any mortgage. It's calculated as a percentage of the principle balance. Interest rates are related to market rates; as the market fluctuates, interest goes up and down.
Is Interest a Fixed or Variable Cost?
Some loans are fixed rate, which means that the lender locks in the rate and pays the same amount over the life of the mortgage contract. Other loans are variable rate, which means that the interest rate on the loan can go up and down with market fluctuations.
Borrowers with variable rate mortgages must be prepared to make higher payments, depending on the activity of the market. Variable rate mortgages often start off at a lower rate than fixed rate mortgages, but that can change.
What Happens When the Mortgage Contract Expires?
Mortgage contracts can last a few months or for as long as five years. When a mortgage contract expires, the rates may change. Buyers who would like to renegotiate a better rate for their loan shortly after buying their house can get a short-term loan of a few months. Buyers who would like to keep their interest rate for as long as possible can do so by getting a long-term rate.
When Can You Find Out What Your Interest Rate Will Be?
Buyers are able to lock in their interest rate for a short period after being approved for a loan. This makes it easier for the buyer to create a home-buying budget and decide which home will be affordable. Creating a budget is very important. A buyer who does not create a budget may be at risk for buying a home that they can't afford.
How Does Interest Affect Quality of Life?
High <a href="https://www.td.com/ca/en/personal-banking/products/mortgages/mortgage-rates/" target="_blank">interest rates</a> mean higher payments. Buyers who purchase a house they can't afford at a high interest rate may be forced to change their lifestyle or even sell their house. This is why it's very important to work with a lender to ensure that the house being purchased is one the buyer can afford.
What Can You Do to Get a Lower Interest?
The best lenders, called A Lenders, often offer the best interest rates and therefore, the lowest payments. However, these lenders are known to have the strictest requirements when it comes to mortgage application approval. Borrowers who want to ensure they can get a loan from an A Lender can do so by getting their finances in order before they apply for a mortgage. If you're a buyer who would like to be approved for a loan from an A lender, here's what you can do:
Review a copy of your credit report before applying for a mortgage.
Make corrections to your credit report as needed.
Gather documentation about your income and taxes for the last several years.
The best lenders also pay close attention to debt-to-income ratio. The lower your debt-to-income ratio, the easier it will be for you to get a loan. This may mean paying off your car loan, or credit card debt.
There may be other things you can do to get a loan from an A Lender. Talk to a financial advisor or a mortgage lender to find out more.
Work With Your Lender and Real Estate Professional
If you're a <a href="https://www.fortmcmurrayrealestate.com/beacon-hill-homes-for-sale.php" target="_blank">Beacon Hill home buyer</a> who will be getting a mortgage to pay for your house, you may have a lot to learn about mortgages, interest, and the other aspects of buying a house. To ensure that the process goes smoothly, work with experienced professionals.
A good mortgage lender can answer your questions about getting a loan while also guiding you through the process of applying for a mortgage. Meanwhile, a good real estate professional can help you find a house that fits in your budget. Now is the time to build up a good team of people to help you. Contact lenders and real estate professionals to get started today.
For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.
2019-09-19T08:37:00-07:002020-11-05T06:00:46-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:9771Should You Refurbish or Replace Your Cabinets?
<img class=" img_box_right" src="https://assets.site-static.com/userfiles/1785/image/should-a-home-owner-redo-the-cabinets.jpg" alt="Replace or Refurbish? What You Need to Know About Cabinets" />If you're an <a href="https://www.fortmcmurrayrealestate.com/abasands-homes-for-sale.php" target="_blank">Abasands homeowner</a> who is hoping for a new look in your kitchen, you're probably considering either replacing or refurbishing your cabinets. If that's the case, you should know the difference. This information can help you decide whether refurbishment or replacement is right for you.
What's the Difference Between Refurbishing and Replacing?
Cabinet refurbishment is the process of removing the old finish on a cabinet and installing new finish to make the cabinets look new. Cabinet replacement involves the removal and disposal of the old cabinets, and installation of new cabinets.
Which One Is Better?
There's no way to say which is better, as all circumstances are different. When trying to decide whether to replace or refurbish, many homeowners consider cost. The cost of refurbishment and the cost of replacement of kitchen cabinets can vary wildly. However, in general, the cost of refurbishment is about half the cost of replacement.
For a homeowner on a budget, refurbishment is almost always the better choice. For a homeowner who really wants a new aesthetic in their kitchen and who is not worried too much about the cost of replacement, replacement is optional.
Which Has the Highest ROI?
Refurbishment has a high return on investment, because it has a low cost and often makes the cabinets look like new. People who are planning to sell their home soon and who want to make the most money possible often get the most benefit from refurbishment.
When Should You Replace?
Cabinets that are very old and in poor condition are often best replaced. <a href="https://www.hgtv.ca/kitchens/blog/mike-holmes-paint-reface-replace-kitchen-cabinets-1923543/" target="_blank">Cabinet refurbishment</a> only works on cabinets that are structurally sound. In addition, some cabinets are made from a material that cannot be easily refurbished. These cabinets may be made from metal or laminate. Cabinets made from these materials almost always need to be replaced. Finally, cabinets that do not offer enough storage space may need to be replaced, as cabinet refurbishment does not change the structure of the cabinets.
Work With a Contractor
If you're a homeowner who will soon be <a href="https://nelsonkb.com/4-ways-to-tell-if-your-cabinets-need-to-be-replaced-instead-of-refaced/" target="_blank">refurbishing or replacing your cabinets</a>, it's important to work with a contractor, though you could try a <a href="https://www.fortmcmurrayrealestate.com/blog/should-you-diy-or-hire-a-contractor-for-your-home-improvement-project/" target="_blank">DIY project</a>. A good contractor can help you decide whether refurbishment or replacement is right for you, and can also help you get through the process successfully. When hiring a contractor, check to be sure they have an active license and have experience with the type of work that you're hiring them to do. Working with a professional will help protect your investment.
2019-09-12T08:04:00-07:002022-08-01T09:37:42-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:15738Home Security Features To Look For When Buying Condos & Townhomes<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/1785/image/security-considerations-for-condo-communities.jpg" alt="Best Property Security For Condos & Townhomes" width="475" />If you're shopping for <a title="Condos For Sale in Fort McMurray AB" href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-condos-for-sale/">condos</a> and <a title="Townhomes For Sale in Fort McMurray AB" href="https://www.fortmcmurrayrealestate.com/fort-mcmurray-townhomes-for-sale/">townhomes</a>, you have a lot of amazing amenities to explore. While on-site swimming pools and outdoor spaces are bound to grab your eye, remember that your <a href="https://www.fortmcmurrayrealestate.com/blog/home-security-guide/">home security</a> is one of the most important amenities. By finding the right communal and private security features, you can enjoy more peace of mind at your new condo or townhouse.
Touchless Access Control And Remote Security Management
Touchless access control is a <a href="https://www.openpath.com/blog-post/apartment-building-security-systems" target="_blank">multifamily residential security solution</a> that secures your condo or townhouse from unauthorized entrances. Access control is a must-have in any condo building, as they prevent break-ins without sacrificing convenience.
Touchless access control allows you to secure your building while increasing convenience when you enter and exit regularly. Instead of having a key, you gain mobile access credentials that you can download and store on your mobile device. When you enter the building, all you need is your phone. You don't even need to withdraw your phone from your pocket.
When you come home, all you need to do is wave your hand over the reader. The motion of your hand will trigger the reader's sensors, and the reader will communicate with your mobile device to detect your credentials and unlock the door. The device ensures entry on the first attempt by using three modes of communication, which means you won't be standing outside your building trying to gain access.
One of the best benefits of a cloud-based and touchless access control system is that system administrators and building managers can open the doors remotely. This means that, should you lose your mobile device outside of your home, you can simply contact your building manager via the intercom system to request that the doors open. Once you notify the building manager, they can instantly unlock the door using a mobile application without travelling to the site in-person, which saves time and ensures you get home safely and quickly.
Video Surveillance And Identity Verification
One of the significant risks with an access control system is the potential for an unauthorized user to steal a resident's access credential or key and use it to enter the building without permission.
To prevent this, you can opt for a condo or townhome that provides identity verification at the building's entrance. A video intercom reader is a perfect solution to look for if you want a building with identity verification.
Video intercom readers combine surveillance and touchless access control in a single device. When you need to enter the building, you can wave your hand to enter with your mobile credentials while the camera operates with facial recognition software to verify your identity. With this technology, you can rest easy knowing that nobody can steal your access credentials and use them to get inside your condo building or townhome.
Seamless Visitor Check-In
While you must opt for a building that prevents intruders from entering, you also need to know that your visitors can quickly enter. Visitor management software integrates with access control. It provides visitors with a digital survey they can fill out on their mobile devices. This survey will ask for their name, email, phone number, and personal information. Once they have provided this information, they can access the building with temporary credentials on their mobile.
The system removes the credentials from their mobile device when they leave to prevent the visitor from re-entering the building later. So, your visitors can enter without you travelling down to meet them, and they won't be able to enter the building again when they go.
One Credential For All Building Areas
Inside your townhome or condo complex, you need additional locks preventing residents from accessing each other's properties. Smart door locks can secure your condo or townhome from other residents, and they can secure building amenities.
However, with all the different locks in the building, you need a single credential that allows you to access all areas. If you had separate credentials for each lock, moving through your facility would be difficult and inconvenient. So, opt for a security system that implements a single credential for all building areas.
Put Safety First at Your Next Condo or Townhome
Now that you've read this guide to the best security technologies for condos and townhomes, you will be able to rank the properties in your search based on the level of security they provide. If the property you're considering does not offer sufficient protection, you can always discuss these technologies with the landlord or building manager to enquire about the potential for installation.2019-09-11T11:16:00-07:002022-08-31T13:24:53-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:9770Selling Your Home? Hire a Professional Real Estate Photographer
<img class=" img_box_right" src="https://assets.site-static.com/userfiles/1785/image/home-photos-for-selling.jpg" alt="Everything You Need to Know About Professional Real Estate Photography" />At some point before <a href="https://www.fortmcmurrayrealestate.com/blog/what-is-the-home-selling-process/" target="_blank">listing your house for sale</a>, you'll have to decide whether a professional real estate photographer is right for you. Though they do cost extra money, using professional photography in the listing can help sell a home faster and for more money. Knowing your priorities and understanding the benefits of real estate photography can help. Here's what you need to know.
What Does a Professional Real Estate Photographer Do?
Real estate photographers take pictures of properties before they're listed for sale. These photographs can be used in listings, <a href="https://www.fortmcmurrayrealestate.com/blog/how-real-estate-professionals-market-homes-for-sale/" target="_blank">marketing materials</a>, on social media and on websites promoting the sale of the property. Professional real estate photographers have special equipment that can put properties in the most favorable light.
Why Not Take Your Own Pictures?
Most homeowners and property owners don't have the equipment or expertise to take the best pictures possible. Lighting and angle have a big impact on the appearance of a real estate photograph. Pictures taken by real estate agents, homeowners and landlords are often too dark or slightly blurry. This can impact how many people flag the listing, and subsequently, how many people show up to view the house.
Real estate photographers are sensitive to what buyers want, and will aim their pictures carefully, to highlight features that buyers will like. Often, amateur photographs of rooms look flat and dark in listings. Professional photographers know how to put rooms into a context, take advantage of a room's natural light, and make a home look as spacious as it really is.
Is the Photographer Worth the Money?
Real estate photography is an invaluable marketing tool. A good listing can increase buyer traffic, lead to more competition, and faster bids. Real estate photography is one of many components that can help a home sell for more money. A home that sits on the market for a long time may need to be sold for a lower price, so in general, real estate photography is a good investment.
How Can You Find Your Own Photographer?
The best way to find a good <a href="https://www.fortmcmurrayrealestate.com/beacon-hill-homes-for-sale.php" target="_blank">Beacon Hill</a> real estate photographer is to look online, compare prices and look at portfolios. Photographers who have a strong portfolio should be able to back up their experience with references or testimonials. Ask about references when making a hire.
Work With Your Real Estate Professional
Your real estate professional can help you decide which photographer is right for you. Most real estate agents will have worked with a variety of professional photographers, so ask your <a href="https://www.fortmcmurrayrealestate.com/blog/choose-the-right-real-estate-agent/" target="_blank">real estate agent</a> who they would recommend.
2019-09-10T11:18:00-07:002020-10-30T02:54:56-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:13924New Home Checklist: What to Do Before You Move In<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/1785/image/5-things-to-do-after-buying-home.jpg" alt="5 Things to Do Before Moving Into Your New Home" width="475" />Congratulations on buying your new house! What do you have to do when you move into a new place? Your to-do list so far might include unpacking, exploring the neighborhood, and <a href="https://www.fortmcmurrayrealestate.com/blog/interior-design-tips-for-new-construction-homes/">decorating your new home</a>. However, there are several additional tasks that you might've overlooked in all the excitement. As eager as you are to settle into your new home, completing these five things will save you time, money, and effort in the long run.
Conduct a Thorough Walkthrough
You've probably already had at least one inspection before buying your house. Your <a href="https://www.fortmcmurrayrealestate.com/blog/what-should-your-home-inspection-cover/">inspection should cover</a> the home's structural integrity, <a href="https://dameasyfloodbarriers.com/a/blog/the-5-ways-a-flooding-will-affect-your-house-value" target="_blank">possible water damage</a>, and more.
However, now is the time to do the final walkthrough, especially if you requested previous owners to do some adjustments and repairs.
Here's a checklist for your final walkthrough:
Make sure that everything included in the sale (electric appliance, furniture, etc.) is indeed present in the house
If you purchased the house with the electric appliance or some other equipment, check that the previous owner left the warranties, manuals, and other paperwork for them
Check for <a href="https://www.fortmcmurrayrealestate.com/blog/what-type-of-hazards-might-you-find-in-your-home/">common home hazards</a>, including faulty electrical outlets, malfunctioning doors and windows, or broken windows
Make sure there are new stains, cracks, signs of water or any other damage have appeared since the last time you inspected the house before the purchase
If something is missing, does not work correctly, or you notice any "surprises," make sure to contact your realtor and the seller as soon as possible to avoid delays and misunderstanding.
Do a Deep Clean
The best time to deep clean your new house is before moving in. Sanitizing all the nooks and crannies will give you a clean slate, and by doing it before you move in, you won't have to navigate around your furniture.
The first deep-clean might seem pretty overwhelming, especially when you don't know the house and its every corner yet. Hiring professionals may sometimes be better (and save you a lot of time and energy).
Consider starting with the kitchen. All those remaining food, crumbs, oil stains, shelves, and areas around and under appliances are often neglected during the pre-move-in cleaning.
Next, get to work on the bathroom. Bathroom cleaning is mostly about disinfecting. Whether you are planning to change the sanitary ware and plumbing fixtures or leave your new bathroom as it is, make sure to get rid of all the spots, dust, and contaminants and disinfect the bathroom thoroughly before anyone uses it.
For the rest of the house, it is best to work out a cleaning plan where you will focus on particular items and areas, going from top to bottom. That way, you won't miss anything and will prevent dust from settling on the already cleaned places. Start cleaning the ceiling, then focus on light fixtures, door tops, and window frames before moving down to lower surfaces.
Safety Checks For Pets & Kids
If you have children or pets in the house, you'll need to take extra precautions to avoid injuries and accidents.
Purchase restricting gates to create child or pet-safe areas in the house, and prevent them from falling from stairs or getting access to rooms and places that can be dangerous for them. Check the gate and ensure that they don't topple under light pressure.
Make sure there are no hanging cords and the sockets are plugged and secured. If needed, install special locks on drawers, toilet seats, and other potentially dangerous areas. <a href="https://www.canada.ca/en/public-health/services/publications/healthy-living/make-your-home-safe-for-child-nobodys-perfect.html" target="_blank">Making your home safe for kids</a> lets them safely explore the home without risk.
Inspect the Fuse Box & Water Valve
A fuse box and water valve are the two things in the house you don't want to look for in the middle of a power-off or flooding. Make sure to find them, clear the access to them, and teach all capable household members how to use them beforehand.
Typically both fuse box and water valve will be located in the basement of your house. However, your previous owners or the architect who planned the house might have been "creative" and placed them outside, in the shed, storage unit, or garage.
Ensure they work correctly, and if any issue occurs, do the necessary repairs before the disaster strikes.
Floodproof Your House
If you live in a flood-prone area, you'll want to install the necessary protective measures as soon as possible. Even the lightest flooding from melting snow or heavy rain can severely damage your property and its value.
Getting efficient modern flood control solutions for your houses, like flood barriers for doors and garage gates, will save you much time and money on cleaning and repairs.
Are You Move-In Ready?
<a href="https://www.fortmcmurrayrealestate.com/blog/your-easy-home-moving-timeline/">Moving into a new house</a> can be pretty overwhelming, but following these steps can make the transition much more straightforward and further home maintenance much simpler and cheaper in the future.2019-09-09T08:48:00-07:002022-07-26T10:13:22-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:9769What You Need to Know about Debt to Income Ratio When Buying a Home
<img class=" img_box_right" src="https://assets.site-static.com/userfiles/1785/image/what-is-the-debt-to-income-ratio.jpg" alt="Buying a Home? What You Should Know About Debt-to-Income Ratio" /> If you have a lot of debt, you could have a hard time paying your bills. This is why mortgage lenders pay attention to debt-to-income ratio. Understanding what the debt-to-income ratio is and how it affects your ability to <a href="https://www.fortmcmurrayrealestate.com/blog/buying-a-home-for-the-first-time-a-guide-to-mortgages/" target="_blank">get a mortgage</a> can help you prepare for the mortgage application process.
By checking your debt-to-income ratio before applying for a mortgage, you may be able to identify potential problems and resolve them prior to filling out a mortgage application. If you're thinking about buying a home soon, find out what your DTI is. If your DTI is too high, you would be best off lowering it. Here's what you need to know about DTI and how it affects you.
For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.
How to Calculate Debt-to-Income Ratio (DTI)
Put in simple terms, DTI is the sum total of your monthly debt payments, divided by your monthly income. The resulting figure is turned into a percentage. For example, if you pay $2,000 each month in debt payments, and your gross monthly income is $5,000 each month, then your debt-to-income ratio is 40%.
There are multiple debt-to-income ratio calculators online that can help you determine your DTI. If you're not able to use the online calculators, you can also contact a lender and ask them to do the equation for you.
Why is DTI Important
Borrowers who have a high debt-to-income ratio are more likely to default on their mortgage. These borrowers are considered high-risk, meaning there is more risk for the lender. In some cases, borrowers with high DTI might be approved but with a high interest rate. If the DTI is too high (over 43%), then they may not be approved at all.
In addition to the fact that a high DTI could correspond to a possible default on mortgage payments, it's also likely that a high DTI could lead to reduced quality of life, especially after buying a house. Even if the buyer doesn't default on their payments, life could be very difficult until their debt-to-income ratio has been reduced.
How Can You Reduce DTI
Home buyers with a high DTI would be well advised to <a href="https://debtfreecanada.ca/top-ways-canadians-lose-debt/" target="_blank">reduce their debt</a> before trying to buy a home. Often, buyers do this by paying off their credit cards and other debts. Doing this may require careful budgeting. Often, home buyers need all the cash they have in order to pay for their down payment and moving expenses. Paying off debt and saving at the same time can be very difficult.
Lowering DTI does not always mean paying off debt. Sometimes, a home buyer with too much debt is able to reduce their DTI by getting a better, higher-paying job. Although it's unusual for a buyer to find a job that pays so much more money that they're able to significantly reduce their DTI, it is possible. For couples who are trying to buy a home, it can help if both buyers are able to find a higher-paying job.
Contact a Real Estate Professional to Get Started
If you're a <a href="https://www.fortmcmurrayrealestate.com/prairie-creek-homes-for-sale.php" target="_blank">Prairie Creek home buyer</a> with a high DTI, it will be very important for you to buy an affordable home. Often the best way to make this happen is to work with a real estate professional. A good real estate agent can help you find the best homes in the most affordable communities. A good real estate agent can also help you negotiate a fair price for the home that you want to buy. If you're thinking about buying a home sometime in the next several months, contact a real estate agent in your area.
For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.
2019-08-22T08:23:00-07:002022-02-03T09:33:30-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:97685 Things to Know Before Starting a Home Addition
<img class=" img_box_right" src="https://assets.site-static.com/userfiles/1785/image/should-you-build-a-home-addition.jpg" alt="Are You Ready for a Home Addition?" />Adding onto an existing home often serves as a viable investment in the property. Making a space larger can increase its value. It also makes it easier for homeowners to enjoy the space and possibly <a href="https://www.fortmcmurrayrealestate.com/blog/what-is-the-home-selling-process/" target="_blank">sell the home</a> faster and for more money. However, building a home addition can also be a complicated and expensive endeavour. With this information, homeowners will have a better understanding of what they need to make a practical decision about home additions.
1. Return on Investment
Property owners may want to start by thinking about the resale value of the addition, particularly if they do not intend to remain in the home for many years. Many home improvements offer flexibility in the amount that homeowners have to pay. Home additions tend to cost more because they include creating a physical addition to the structure.
As a general rule, projects that cost more tend to have a lower rate of return. To target a higher ROI, homeowners might want to consider what their property lacks in relation to the neighbourhood. Ensuring that the addition contains that extra bedroom, bathroom, or storage space may make a significant difference.
2. Professionals Needed for the Project
Hiring a contractor to build a deck or install a new bathtub may be a simpler affair that only requires one person for the job. By comparison, a home addition may call for several <a href="https://trustedpros.ca/license-requirements" target="_blank">licenced contractors</a> for services such as:
exterior structure
siding and roofing
flooring
interior design
windows and doors
electric
heating, cooling, and ventilation
Homeowners who go through a company that provides general construction services may have one point of contact who will oversee the project and hire relevant contractors. If they choose to hire people separately, they may have to facilitate communication personally.
3. Rules and Guidelines
The laws that homeowners have to follow for home improvements are heavily dependent on the area. They may need to consult standards and regulations based on the neighbourhood, city, or province. In many cases, contractors are familiar with the zoning and land-use bylaws related to the project and the lot in question.
Homeowners should keep in mind that obtaining proper approval in advance can save a lot of difficulties down the road. Applying for permits takes time and money, and may set limits on the types of construction. By investing the effort, property owners who intend to sell the home later can avoid complicated or expensive repairs of work that was not completed according to local guidelines.
4. Limitations on Construction
Building on an existing home is not the same as new construction. In many cases, what the homeowner envisions for the addition may require extensive repairs or improvements to the existing structure. It may even be impossible to do. For example, second-story additions may call for a redesign of the main floor to relocate or provide additional load-bearing walls, or an upgrade of the foundation. Homeowners should ask qualified contractors about the types of additions that their homes can reasonably support, and make selections based on that information.
5. Project Stages and Timelines
The size, location, and detail of the addition can significantly affect how long it takes. Homeowners may need to prepare for weeks without access to certain parts of the property during construction. They might have to make alternative living arrangements for a portion of the time, particularly for larger additions. Contractors may set different timelines for similar projects, so property owners should ask about it when they request estimates. Knowing what to expect each day or week will make the process run more smoothly.
Planning an <a href="https://www.fortmcmurrayrealestate.com/abasands-homes-for-sale.php" target="_blank">Abasands new home</a> addition can be an excellent choice for homeowners, provided that they know what is involved. By investing time into making a wise decision, they can enjoy the new space with less worry.
2019-08-15T07:57:00-07:002020-11-05T05:54:24-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:9767Deck Installation ROI: What You Need to Know About Building a Deck
<img class=" img_box_right" src="https://assets.site-static.com/userfiles/1785/image/should-you-build-a-backyard-deck.jpg" alt="What to Know About Building a Deck Before Selling" />Before <a href="https://www.fortmcmurrayrealestate.com/selling.php" target="_blank">selling their home</a>, homeowners often look for small ways to boost their home's value and make their property more appealing to buyers. One of the most popular ways to do this is by installing a deck. Many home buyers love spending time outside and entertaining in their back yard, and a deck can make that possible. If you're a homeowner looking for a high ROI project that can help your home sell for more money, here's what you need to know.
What Is the ROI of Deck Installation
The ROI of a deck installation varies between 70 and 80 percent, depending on the materials used to build the deck, how big the deck is, how much the deck installation cost and other factors. Homeowners who want to make as much money as possible can increase ROI by making smart choices throughout the deck design and installation process.
How Can You Maximize ROI of a Deck?
There are many things that home sellers can do to maximize the ROI of their deck installation. Here's what you need to know:
Keep Costs Down
Generally speaking, buyers will not pay extra for fancy features included on a remodel or addition. The more the deck costs, the lower the ROI percentage is likely to be. Buyers seeking high ROI can do so by working with their contractor to keep costs reasonable.
Install the Deck Several Months Before Selling
Deck installation can be a disruptive process. Sometimes landscaping must be pulled up, and heavy pieces of equipment can destroy grass. It's best to give the lawn time to recover before putting the home up for sale. This way, the deck and landscaping around the deck will look their best for the listing pictures.
Pressure Treated Lumber Vs. <a href="https://www.nrcan.gc.ca/our-natural-resources/forests-and-forestry/forest-industry-and-trade/forest-products-and-applications/taxonomy-wood-products/wood-plastic-composites/15859" target="_blank">Composite Wood </a>Decking
Composite decking is the latest, greatest material in deck construction. Composite decking is desirable because it's rot resistant, fade resistant, and never needs to be resealed or painted. However, composite decking is also significantly more expensive than the traditional pressure treated lumber. Buyers who want to maximize their ROI often turn to pressure treated lumber, to help control costs.
Pick the Right Contractor
Some home buyers find it tempting to cut corners when trying to install their deck. After all, keeping costs down can help improve ROI, right? Unfortunately, cutting corners by hiring the wrong professional can have detrimental or even devastating effects. Hiring a contractor who is untrained or who does not have the right credentials could result in improper deck construction. A deck that is not constructed to code could lower a home's value, by making it harder to sell.
Sellers hoping to hire a capable and competent professional can do so by:
Checking references
Interviewing different candidates in person
Comparing bids from several professionals
Remember that the best contractor is not always the cheapest contractor. A contractor who produces quality construction may need to charge slightly higher prices in order to pay their employees and buy good materials.
Work With a Real Estate Professional to Get Better Offers
If you're a <a href="https://www.fortmcmurrayrealestate.com/beacon-hill-homes-for-sale.php" target="_blank">Beacon Hill homeowner</a> who would like to sell your home soon, there are many things you can do to maximize your home's value. Working with a real estate professional can help you identify the best ways to make money from the sale of your home.
Your real estate agent can make suggestions that can boost your property's value, and can negotiate with buyers until both parties have come to an agreement on cost. For more information about how you can get the most out of the sale of your home, contact a real estate agent today.
2019-08-08T08:11:00-07:002020-11-04T09:41:25-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:9766What You Can Do About Deferred Home Maintenance
<img class=" img_box_right" src="https://assets.site-static.com/userfiles/1785/image/how-to-repair-a-home-yourself.jpg" alt="What to Do When You Can't Afford Home Repairs?" />When a home needs a major repair, such as a new roof, most owners will immediately shudder at the sticker-shock of the initial costs. Those who choose to leave their roof as-is because they can't (or choose not to) pay for the roof would be guilty of deferred maintenance. Whether it's because a homeowner is planning to sell the home, even in a <a href="https://www.fortmcmurrayrealestate.com/blog/sell-home-in-buyers-market/" target="_blank">buyers market</a>, or because their finances just aren't available, deferred maintenance is never recommended. The good news is that owners may have more power than they think, even if their bank accounts are severely depleted.
The Real Cost of Deferred Maintenance
It costs about four times more to fix a problem that's been left alone than it does to fix a problem in its earliest stages. For example, a homeowner may well be able to patch up a small hole in a roof shingle with epoxy long before they need to call to get estimates on a brand-new roof. A small hole in a shingle is usually a sign of the general aging of a roof, but the roof as a whole may still have a few more years left.
Deferred maintenance is more than just a nuisance for homeowners, it can be dangerous for everyone. Clogged gutters can form dangerous icicles that can fall at any time. (If one happens to a fall on a delivery person, the homeowner could have a major lawsuit on their hands.) Uneven walkways can pose problems for nighttime visitors. Broken light bulbs in a stairwell can lead to a terrible accident. Few people think of their home as a hazard, but that's exactly what it will become if homeowners aren't actively keeping up with their responsibilities.
Watching the Home
When people get home from a long day, they're likely to settle immediately into their routine, and these rituals rarely include any type of systematic inspection of the home. Unless the refrigerator has turned off or the TV won't work, it's unlikely for residents to notice anything else. Getting into the habit of monthly inspection can change all this though. If a pipe under the sink is starting to get loose or there's an unexplained puddle in the farthest corner of the basement, homeowners will at least be aware of these problems.
The Benefit of Professional Inspectors
Homeowner inspections are excellent measures to take to manage maintenance, but it may also make financial sense to hire outside help too. This is especially recommended if the home is older or more vulnerable to structural damage. A professional home inspector can tell homeowners how to prioritize their problems, which can help them manage the time and money spent on repairs. If the septic system is in relatively good shape, or at least in good enough shape to hold out for five more years, homeowners can focus their energies on the cracked foundation instead.
Do Something
As it may be apparent by now, the key is for homeowners to take action somehow:
Duct tape a window screen together or PVC pipe that's starting to dislodge from its proper position.
Use <a href="https://en.wikipedia.org/wiki/Natural_rope" target="_blank">natural-fiber rope</a> to fill in gaps on a hardwood floor.
Cut off the water line or power to the problem area of the home.
Use epoxy on a window screen or caulking on the doors.
By definition, these short-term fixes can't be long-term solutions. However, they can buy an owner some time.
Owners who know they can't afford major repairs now should, at the very least, be working with their budget. By listing all of their expenses against their income, they can start to see where to cut out certain luxuries in order to keep their property in the best possible condition.
Help From All Sides
Well-maintained homes translate to safer communities, and officials at the federal and community level recognize just how important this is for the good of society. Home improvement grants in Canada may be available via the Canada Mortgage and Housing Corporation. Homeowners can also check with their community to learn more about local programs to help homeowners in need. If these efforts fail, homeowners can consider using credit to fix their home, but this is not always recommended due to the high-interest rates.
<a href="https://www.fortmcmurrayrealestate.com/beacon-hill-homes-for-sale.php" target="_blank">Buying and owning a Beacon Hill home</a> has a huge set of benefits for anyone who's ever wanted the privilege of owning their own land, but it also comes with a high degree of responsibility. Making the effort to keep up with maintenance is the key to keeping it safe for all.
2019-07-18T13:50:00-07:002020-11-05T12:57:34-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:97655 Most Common Architectural Styles
<img class=" img_box_right" src="https://assets.site-static.com/userfiles/1785/image/what-are-thedifferent-kinds-of-home-styles.jpg" alt="The Architecture Styles Home Buyers Should Know" /><a href="https://www.fortmcmurrayrealestate.com/blog/buying-a-home-for-the-first-time-a-guide-to-mortgages/" target="_blank">Buying a home</a> starts with asking some rather basic questions about what type of property will best the lifestyle of the people living in. Part of this equation is considering how an architectural style will influence how each person interacts with the home. The following tips can help home buyers streamline their open house experience because they can eliminate certain styles before they even get started. Learn more about how buyers can keep a fresh eye and clear perspective for every home they see.
Traditional
Starting with the more obvious of choices, traditional homes are typically two stories and have a symmetrical quality to them. They're popular because they were constructed to be as beautiful and sustainable as a more expensive home without the high price tag. Because of their durability though and the shortage of real estate in certain parts of Canada, these homes may still be outside many buyer's budgets.
Ranch
A ranch was originally conceived for people with huge plots of land attached to their property. If there was an emergency, it would be easy to run from the single-story home to the land to attend to livestock and then back again. However, this style of home caught on with everyday people because it gives everyone a convenient way to maneuver around the home. An elderly person or a toddler won't have to worry about injuries on the stairs, and homeowners won't have to climb from one story to the next several times a day either.
Craftsman
A craftsman home has several distinct benefits to it:
Intricacy: Skilled craftsman sculpt the home's features, which means buyers will see countless details inside and out. Craftsmen are trained to make ornate works of art, giving the home a character that will impress residents and visitors alike.
Variety: Craftsman homes come in practically every shape and variety. Home buyers who want something small can find a property just as easily as those who need something much bigger.
Uniqueness: No two craftsman homes are alike, which often can't be said for traditional or ranch homes. Those who want something with a one-of-a-kind feel should do a full search of the craftsman homes in their area before picking one that works for them.
Cottage
The cottage is an inherently small home for those who want to limit their maintenance and its accompanying costs. What homeowners sacrifice in space though, they make up for in charm. These homes typically feature attics, a generous front porch and little touches (e.g., window seats, <a href="https://www.hgtv.ca/kitchens/photos/25-dreamy-breakfast-nooks-that-will-brighten-your-morning-1895242/" target="_blank">breakfast nooks</a>, etc.) throughout. These homes are beloved because they encourage intimacy and goodwill among residents and guests alike.
Modern
A modern <a href="https://www.fortmcmurrayrealestate.com/abasands-homes-for-sale.php" target="_blank">Abasands home</a> is defined by the angles the architect used to create context in a person's daily life. Those who purchase these homes typically consider themselves to be minimalists. They enjoy the openness of the architecture and the attention paid to the amount of lighting in each room. For example, a modern home near a hillside may have been specifically designed to reflect or absorb the sun's rays at different times of the day.
No matter what style of home a person chooses, it's important to define the deal-breakers beforehand. Talking to a real estate agent can make it easier to define exactly what the home should have before a buyer starts scheduling the open houses that will lead to their big purchase.
2019-07-11T08:02:00-07:002020-11-03T01:16:43-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:9764Short Sale Information For Home Sellers
<img class=" img_box_right" src="https://assets.site-static.com/userfiles/1785/image/what-are-short-sales.jpg" alt="Everything You Need to Know About Short Sales" />When a homeowner is having trouble paying their bills on a home that is "under water", a short sale can be a tool to help the homeowner get out of debt. If you're a homeowner who is thinking about <a href="https://www.fortmcmurrayrealestate.com/blog/what-is-the-home-selling-process/" target="_blank">selling your home</a> as a short sale, you should understand how short sales work and how a short sale will affect you. Here's what you need to know.
For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.
What Is a Short Sale?
A short sale happens when a homeowner sells their home for less than they owe on the property. Usually a short sale happens when the homeowner is under water on their mortgage, meaning they owe more on their mortgage than the property is worth. Short sales can happen after a neighbourhood has depreciated in value significantly. This can happen because of a decline in the community where the person is living, or because of a recession.
Short sales are usually the last resort before foreclosure, but sometimes short sales occur because the homeowner simply needs to move. Although a short sale can be a stressful process for the homeowner, they are generally viewed as a better option than foreclosure because they have a less dramatic effect on the homeowner's credit.
How Do Short Sales Happen?
In order for a short sale to take place, the lender must agree to sell the house for less money than they are expecting to get back from the current owner. In other words, the lender must choose to lose money on the house. Generally, lenders are only willing to do this when they believe the alternative is <a href="https://homeownersoon.com/foreclosure-rules-in-canada/" target="_blank">foreclosure</a>, which is a longer process and could involve losing even more money.
Are Short Sales a Good Deal for Buyers?
Yes, buyers usually get a good deal on short sale homes. Often, short sales are sold at a discount, for a multitude of reasons. Short sales can be complex transactions, and they do not go as quickly as standard home sales.
In addition, many homeowners who choose to sell their house as a short sale are in financial distress, which means they're unable to keep up with their maintenance obligations. As a result, short sale homes are generally sold at a discount. Home buyers who want to get more than they're able to afford can often do so by purchasing a short sale property.
What's the Short Sale Procedure?
After deciding to sell their home as a short sale, the homeowner must put the home on the market for a discounted price. Buyers must know that the home is a short sale, so this must be indicated on the listing. After the home is listed, it's shown to potential buyers just like a normal home sale.
Once the home has an offer, the homeowner must take this offer to their bank. From that point, it's up to the bank to perform an assessment of the situation and analyse the offer from the potential buyer. This can take weeks or even months, depending on the bank.
If the bank does not want to accept the offer, this could lead to some back and forth between the buyer and the bank. The negotiation process can take time, since many lenders are large companies that do not complete paperwork quickly. If all goes well, the lender will eventually accept the offer from the buyer.
Work With a Real Estate Professional
Short sales can be complicated. Working with a bank to get approval from the house takes time. This means that <a href="https://www.fortmcmurrayrealestate.com/wood-buffalo-homes-for-sale.php" target="_blank">selling a Wood Buffalo home</a> as a short sale can be a difficult process for someone who has never done it. The best way to ensure that your short sale will go as smoothly as possible is to work with a real estate professional who has done this work before.
Your real estate agent can help you choose a price that the bank and buyers are both likely to agree to. Your real estate agent can also help you market your home to bring in the most buyers possible. If you're under water on your mortgage and you're thinking about selling your home as a short sale, find a real estate agent who can help. Contact real estate professionals in your community to find out what their experience is with short sales. Work with a professional who has gone through the process and who knows the procedure.
For informational purposes only. Always consult with an attorney or licensed mortgage professional before proceeding with any real estate transaction.
2019-07-04T12:08:00-07:002020-11-03T01:21:42-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:9763Home Improvements That Are a Bad Investment
<img class=" img_box_right" src="https://assets.site-static.com/userfiles/1785/image/what-are-some-bad-home-improvements.jpg" alt="Bad Home Improvements" />While there are many <a href="https://www.fortmcmurrayrealestate.com/wood-buffalo-homes-for-sale.php" target="_blank">Wood Buffalo home</a> improvements worth the expense, others may not be a good investment for a homeowner. Maintain the equity in a home and make improvements that can offer a good return. Attract a better pool of qualified buyers by avoiding the following upgrades.
Know Your Audience
Not every popular home improvement will appeal to a specific community. Having an understanding of the types of projects that home buyers are looking for will help those looking to sell soon after making a home improvement. There are plenty of home improvements that may not offer a great return.
Home Improvements to Avoid
Why pay to add a pool when a qualified buyer may add in a contingency for the homeowner to have it filled in? Some buyers are not interested in maintaining a pool, while others in warm climates would appreciate the feature. Depending on the target audience and location, a pool would then become a liability. This is not the only upgrade that may not pay off. Other improvements that may have little return include:
<a href="https://www.realtor.com/advice/home-improvement/garage-conversion-pros-cons/" target="_blank">Garage conversions</a>, as some want the storage potential of a traditional garage.
Wall-to-wall carpeting, when many are interested in hardwood flooring and tile.
Extensive landscaping requiring considerable expense and effort to maintain.
Speak to a trusted agent and check out recent comps to learn more about the types of upgrades buyers may want. Avoid redoing the kitchen while not touching other spaces original to the home. There needs to be a consistent look throughout a home to maintain its aesthetic appeal to potential buyers.
Tips for a Good ROI
There are ways to make the most out of a home renovation. Selecting a home improvement that offers savings for years to come can help a homeowner see a significant return. Replacing older windows and doors are the types of home improvements that can reduce energy loss and offer immediate savings. <a href="https://www.fortmcmurrayrealestate.com/blog/high-roi-kitchen-renovations/" target="_blank">Kitchen renovations</a> are also usually a good investment.
Be thoughtful as to when a complete renovation is necessary. Replacing kitchen cabinets can be the most expensive aspect of a kitchen renovation. However, some kitchen cabinets can be resurfaced and updated, saving a homeowner money. An entire renovation will not always provide the return desired and smaller projects may be a better choice in some situations.
2019-06-28T07:23:00-07:002020-11-03T08:04:16-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:97624 Reasons To Use a Drone When Selling Your Home4 Reasons To Use a Drone When Selling Your Home<br /><br />
<img class=" img_box_right" src="https://assets.site-static.com/userfiles/1785/image/how-drones-can-help-sell-a-home.jpg" alt="How To Sell Your Home with Drones" />There’s a lot of differing opinions regarding drones appearing as they have become more popular. Some people love them, and some don’t. However, what many people can agree on is that drones are great when it comes to their use in real estate. Because drones are able to capture so many different angles of homes so easily, they’ve become popular for using to take photos of homes, but they offer more advantages than just being easy to use. Here are some of the best reasons homeowners should use a drone when selling their home.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.
1. Drones Make Listings Look Impressive
When a buyer opens up an online listing for a home, they’re likely expecting to see some <a href="https://brillanteinteriors.blogspot.com/2011/07/how-to-photograph-your-house-and-sell.html" target="_blank">normal exterior shots</a> taken by someone on their cell phone. But when they open a listing expecting that but actually see a video shot my a drone that circles around the exterior, that creates a “wow” factor that the seller may not have seen on other listings. This can instantly make a listing stand out from the crowd and make it memorable to the buyer, and if that happens, it means the home has created a good first impression.
2. Hiring a Drone Operator is Affordable
Many homeowners may feel put off by drones because they seem like they would be very expensive. However, this just isn’t true. On average, hiring a drone operator to come out to the home for one session can cost anywhere from $200-600, but it should be noted that the price will be affected by the number of things the homeowner wants done, and the homeowner may also need multiple sessions to complete everything. For a simple exterior video and photos, one session should provide more than enough time, and the homeowner can discuss adding more photos or videos with their operator if they decide they want more later.
3. Drones Can Show More Than Just the Home
When someone buys a new home, they aren’t just looking at the home itself, but the entire area surrounding it as well. This makes drones especially useful because an operator can do a fly-over of the area surrounding the home. This way interested buyers can see the rest of the neighborhood and see how far the home is from things like grocery stores, shopping centers, and schools.
Using a drone is also great for showing especially large properties. If the property has something like a pond or <a href="https://www.fortmcmurrayrealestate.com/blog/4-must-avoid-landscaping-mistakes/" target="_blank">extensive landscaping</a>, it can be difficult to take pictures that actually show how large they are from ground level. But when using a drone, there’s no guessing how large something is—viewers will be able to see exactly how large the a pond is compared to its surroundings.
4. Drones Can Create Video Walkthroughs
Many homeowners like to make a video walkthrough for their home so buyers can experience the home directly on their screen, but it can be difficult to make a video walkthrough look professional while carrying a camera, especially if the homeowner has no experience taking videos like this. Using a drone will create a smooth video experience that will more easily impress buyers, and the drone operator will be able to edit the footage to make it look polished.
Using a drone when <a href="https://www.fortmcmurrayrealestate.com/thickwood-homes-for-sale.php" target="_blank">selling a Thickwood home</a> can be a great way to set it apart from the competition and get it the attention it deserves from buyers. For more information about drones, pricing, and services, be sure to reach out to a local drone operator.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.
2019-06-20T08:43:00-07:002020-11-02T08:24:14-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:9761Bathroom Renovations That Pay You BackBathroom Renovations That Pay You Back<br /><br />
<img class=" img_box_right" src="https://assets.site-static.com/userfiles/1785/image/should-you-redo-your-bathroom.jpg" alt="Bathroom Renovations with High ROI" />Many Canadian homeowners are planning a bathroom renovation to make a home more attractive before <a href="https://www.fortmcmurrayrealestate.com/blog/what-is-the-home-selling-process/" target="_blank">selling their home</a>. However, not all sellers may see a high ROI. The average bathroom remodeling project can cost a homeowner anywhere from $10,500 to $25,000. While some projects may be attractive, owners may not see a significant return due to their cost. Get a better return on a few affordable bathroom renovation projects or when the market supports the cost of a more expensive bathroom remodeling project.
Affordable Bathroom Renovation Projects
Homeowners may see the best return on relatively inexpensive bathroom renovation projects. Many of these upgrades may not require the help of a contractor, cutting out labour costs and keeping a project well under budget.
Bathroom Wall Treatments
As with other spaces, a <a href="https://www.2dodone.com/blog/fresh-coat-paint-can-change-room/" target="_blank">fresh coat of paint</a> can brighten up a space. Paint is an inexpensive upgrade that can add color and help unify a space with other elements. Add drama in a smaller bathroom with accents or a <a href="https://www.tileclub.com/blogs/news/which-backsplash-tile-is-best-for-your-kitchen-or-bathroom" target="_blank">tile backsplash</a>.
Bathroom Fixtures
Complementary hardware and fixtures are a great way to make a bathroom look more modern. Ensure that the finish on any fixture or hardware remains consistent throughout the bathroom.
Bathroom Cabinetry
When existing cabinetry still has years of life left, it may only need a facelift. It is possible to sand down and refinish wooden cabinets or repaint current bathroom cabinets. Swapping out tired handles, hinges and hardware for a more modern take can help bring the look together.
These are only a few simple upgrades that can be performed. A thorough assessment of a bathroom may reveal the need for more storage space or additional lighting. Making improvements in such areas may not only help when it comes time to sell a home, but make a bathroom more functional and enjoyable in the meantime.
High-end Renovation Choices
Depending on the market, a few choice updates may be worthwhile. It may not be worth the spend when it comes to ROI if a trend does not generate a good price-per-square-foot value. That being said, bathroom renovations have been known to yield returns ranging from 75 to 100 per cent. Some markets support the expense of updating a bathroom to a more modern design with chic finishes. It can be useful to speak with a trusted local agent to learn about what buyers want to see in a listed home. A few more luxurious options include:
Double sinks in the master bathroom. The convenience of double sinks are often appealing for potential buyers.
Brushed metal fixtures and faucets. When it comes to resale value, matched bathroom fixtures in finishes such as silver, pewter, copper and bronze have done well.
Sliding glass doors. Create a clean and more minimalist appearance with this upgrade.
Heated flooring. Radiant flooring can add a WOW factor and be useful in areas prone to long spells of cold weather.
In many cases, it is not necessary to do a major overhaul on the bathroom. A few smart cosmetic changes can make a bathroom and a <a href="https://www.fortmcmurrayrealestate.com/timberlea-homes-for-sale.php" target="_blank">Timberlea new home</a> more visually attractive.
Grab a Buyer's Interest
Attractive upgrades done in a classic style with quality materials and workmanship often help increase buyer confidence. It often does not pay to incorporate the latest trend and expect a high return if homeowners are not planning to sell a home soon. Bathroom updates may seem less appealing when a long period elapses before listing a property. Some may also choose to upgrade other rooms of a home to have a consistent look throughout a home.
2019-06-13T11:46:00-07:002022-05-25T12:15:39-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:9760What Homeowners Can Expect During a Foreclosure in CanadaWhat Homeowners Can Expect During a Foreclosure in Canada<br /><br />
<img class=" img_box_right" src="https://assets.site-static.com/userfiles/1785/image/what-is-the-foreclosure-process-in-canada.jpg" alt="What Homeowners Can Expect During a Foreclosure in Canada" />When facing foreclosure, Canadian homeowners often feel their stress levels spike, especially in situations where they do not know what to expect. A foreclosure is nothing like <a href="https://www.fortmcmurrayrealestate.com/blog/what-is-the-home-selling-process/" target="_blank">selling a home</a>. Many feel overwhelmed and uncertain as soon as the late payment notices roll in. Shutting down in response, however, can only serve to make the problem worse, so it is important for homeowners to prepare to handle the situation at hand. They can do by using this guide to learn what to expect when faced with either of the foreclosure types used in Canada.
For informational purposes only. Always consult with an attorney before proceeding with any real estate transaction.
Types of Foreclosures
A foreclosure in Canada can take one of two routes, both of which are easy to understand and work through. Depending on their location in Canada, homeowners will either go through a judicial sale or power of sale foreclosure.
Judicial Sale Foreclosure
With the judicial sale foreclosure, the process occurs within the court system from beginning to end. Lenders must receive approval from the court to move forward with the finalization of the foreclosure and sale of the property. If the lender wins their case, the courts will award them the right to sell the property by putting it in their name.
This type of foreclosure occurs most often in:
Alberta
British Columbia
Quebec
Manitoba
Along with the need to acquire permission to sell the property in foreclosure, lenders must abide by several rules. They must put the property up for sale at fair market value and only accept bids at that rate and above. This is important as many foreclosures end up sold at auction rather on the open market, making them a prime target for low selling prices.
If the property sells for more than is owed, the surplus must be used to pay off creditors and others with financial interest in the property. The lender can then keep whatever is left of the proceeds. With this arrangement, homeowners are not on the hook if the sales price does not fully cover their debt. As this process can take a long time to complete, and has many restrictions, most lenders prefer to use power of sale instead.
Power of Sale
With <a href="https://canadianmortgagesinc.ca/information/what_happens_when_a_bank_forecloses_on_a_mortgage.html" target="_blank">power of sale foreclosures</a>, lenders can skip the court proceedings and jump straight into selling the property after payment default. Without having to wait for the court system to move the case through their books, this process takes relatively little time to complete. As a result, power of sale remains the most popular foreclosure option, though there are a few areas that stick with judicial sale foreclosures.
As the property rapidly lands on the market after default, it remains in the homeowner's name until the completion of the sale. Rather than letting it go on auction, homeowners often partner with a real estate agent to maximize its sales price. Since they responsible for any amount owed beyond what the proceeds cover, it is in their best interest to make this investment. They are also able to keep any funds that exceed their debt obligations for the property in question.
Things Homeowners Can Expect During a Foreclosure in Canada
To start either type of foreclosure in Canada, lenders must send out notices and make attempts to help homeowners settle the balance owed. They may offer payment arrangements that can assist homeowners in getting caught up and keeping their home. If homeowners cannot bring their balance current in a predefined amount of time, the foreclosure process will begin.
The judicial sale foreclosure begins with the lender filing a Statement of Claim with the local court system. They will also send out a notice to the homeowners, giving them 20 days to submit a response. Homeowners only have this opportunity to defend their position and ask the courts for leniency. If they do not submit a response, the case proceedings will continue without notification of the homeowner.
<a href="https://www.fortmcmurrayrealestate.com/thickwood-homes-for-sale.php" target="_blank">Thickwood homeowners</a> who elect to file a defense may end up with a Redemption Order that gives them more time to bring their mortgage balance current. If they cannot, the court will award the property to the lender, giving them the right to sell it at fair market value. Homeowners then have just 30 days to move out and hand over the keys or they could end up in default.
Depending on the foreclosure type used, the property ends up for sale at auction or on the local market to satisfy the debt. The foreclosure type then determines how the responsible parties should handle the remaining balance and proceeds.
With this information, homeowners can brush their worries aside and move through each step of their foreclosure with confidence. They can handle whatever type of foreclosure in Canada that comes their way to achieve the best outcome for their situation.
For informational purposes only. Always consult with a certified tax expert before proceeding with any real estate transaction.
2019-06-06T06:50:00-07:002020-11-04T05:32:22-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:9759Buying Land? How to Choose a LotBuying Land? How to Choose a Lot<br /><br />
<img class=" img_box_right" src="https://assets.site-static.com/userfiles/1785/image/buying-land-in-canada.jpg" alt="All About Buying Land for the First Time" />Buying land seems like it should be simple, but there's more to it than you might think - it is not like <a href="https://www.fortmcmurrayrealestate.com/blog/how-to-prepare-for-buying-a-home/" target="_blank">buying a new home</a>. Knowing what your priorities are, getting an inspection, and checking out the neighborhood can help you pick the right lot for your needs. Here's what you need to know.
For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.
Make a List of Must-Haves
Before looking at lots, home buyers must know what their priorities are for their new home. Lot size, layout, location and other features will all impact what kind of home the buyer is able to construct. Thinking through the must-haves before getting started with the home search will help the buyer pick the right property for them. Examples of must-haves that can impact the type of lot includes:
Pool. If the home buyer wants a pool, they may be better off looking for a flat piece of land.
View. Some home buyers prioritize a beautiful view, and if they do, they should know what kind of view they're looking for when they start searching for a lot.
Large yard or house. The size of the lot will be directly proportional to the size of the yard, and will also affect what size the house may be.
Water features. Some home buyers may seek a home by a creek or a pond, others with small children may be deterred by the danger of living with a small child near open water.
Shade trees. Large developments start off flat and treeless, so buyers seeking large trees may need to buy their lot outside a development.
Once the buyer has made a list of what they're looking for in a home, they can start seeking out a lot that will meet their needs. This information should also be conveyed to the real estate professional who is helping them.
Check the Commute and Neighbourhood
Many home buyers drive to their job several days per week. The commute from their home to their job can make a big difference in their quality of life when the home is built. Knowing how long the commute is and what the commute entails can help the home buyer decide if a particular lot is right for them.
The best way to measure a commute is to drive the route to work from the empty lot at the same time when the home buyer would normally be driving to work. The buyer should take into consideration how long the commute is and also what the route is like. If the route is pleasant and beautiful, it may be acceptable even if it is too long. If the commute involves start and stop traffic, it may be less pleasant overall.
While studying the commute, the home buyer should also research the neighbourhood. Knowing what the neighbourhood is like and what businesses are nearby that the homebuyer can take advantage of can help the buyer decide whether a neighbourhood is right for them.
Get Environmental Tests and a Survey
The environmental test and survey helps the home buyer ensure that the plot of land is safe. Environmental tests include <a href="http://oces.okstate.edu/canadian/horticulture/soil-testing/" target="_blank">soil tests</a>, to see if the soil in the area includes anything dangerous that could make life on that plot of land hazardous. Once the tests are done and the plot of land is cleared, the homebuyer will know if they are safe to build their home in that location.
Work With a Real Estate Professional
Working with a real estate professional can help you decide whether a plot of land is for you. If you're ready to <a href="https://www.fortmcmurrayrealestate.com/stone-creek-homes-for-sale.php" target="_blank">buy a Stone Creek home or a plot of land,</a> then working with a real estate professional can help ensure the transaction goes smoothly. Contact your real estate agent to get started today.
For informational purposes only. Always consult with a licensed mortgage professional before proceeding with any real estate transaction.
2019-05-22T06:55:00-07:002020-10-29T04:00:06-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:9758High ROI Kitchen RenovationsHigh ROI Kitchen Renovations<br /><br />
<img class=" img_box_right" src="https://assets.site-static.com/userfiles/1785/image/how-to-make-a-great-kitchen-remodel.jpg" alt="How to Get the Best Returns from Your Kitchen Remodel" />A kitchen remodel is a smart choice for homeowners who want to increase the value of their property. It might also help when it some time to <a href="https://www.fortmcmurrayrealestate.com/blog/what-is-the-home-selling-process/" target="_blank">sell the home</a>. However, the rules of a remodel may not be as obvious as they first seem. Not every project will lead to better offers on a home, so it helps to understand the average rate of returns before diving in. (The ROI refers to return on investment and represents how much money a person will reap after improving different parts of their kitchen.) Learn more about the underlying principles of home improvement and how to use those guidelines to determine the next project.
Standard Advice
When it comes to a kitchen remodel, the buyer needs to think big picture. Just because their kitchen would be coveted by a gourmet chef, doesn't mean they can raise the value of their home by $30,000 more than the average property on their block. The ROI will be limited based on both the condition of the overall home and the budget of home buyers who shop in their area. Do some research on the real estate market first before hiring any contractors or heading to the hardware store.
What a buyer looks for in a neighborhood will depend on its location and functionality. If people are looking for a status home, they're going to want all the latest amenities and gadgets in a kitchen. But Canadian buyers tend to be extremely practical when searching for their next abode. They don't want all the luxuries so much as they want an attractive kitchen that will still be up and running in 15 years. Homeowners should also keep in mind what they want from their kitchen, especially if they aren't getting ready to sell in the next few years.
Switch Out Appliances
Old appliances are a turnoff, and not just because they show their age. An old appliance may not be very efficient, making it frustrating to use it on a daily basis. It may even be a safety hazard if the wiring is old or the vents have warped over time. The appliances don't have to be top-of-the-line, but they should have at least a few features that stand out to new buyers. For example, a self-cleaning oven or a refrigerator with French doors. Energy-efficient appliances can save both current and future homeowners on their utility bills as well. When it comes to the aesthetic features of the appliances, stainless steel is still the most popular choice in Canadian homes today.
Fix the Cabinets
There are a few ways to freshen up the cabinets without replacing them:
Replace the fixtures: New fixtures update the look of the cabinets and can make them easier to use.
Stain or paint: A new coat of paint or stain on the cabinets can really help them come back to life.
Change the doors: The doors of the cabinets take up a lot of surface area, so this trick can really change the look of a kitchen.
Seal: A well-sealed cabinet can fend off anything from pests and water damage. Resealing them can help cabinets last for many years to come.
Install Timeless Tiles
<a href="https://www.fortmcmurrayrealestate.com/thickwood-homes-for-sale.php" target="_blank">Thickwood home buyers</a> are often tempted by the more subtle features of the kitchen when they tour through a home. This is a general rule that homeowners would be wise to take to heart no matter what room they're redoing. Tile doesn't have to be a major feature in the home, but it should add to the overall warmth and vibe of the room. For example, installing a neutral color tile in a honeycomb pattern. This way, buyers will notice the quality without feeling overwhelmed by the design.
Paint the Room
From floor to ceiling, <a href="https://realestate.usnews.com/real-estate/articles/10-diy-projects-that-add-value-to-your-home" target="_blank">paint is one of the smartest projects</a> in terms of ROI. It's not only relatively inexpensive, but it can really change the way a home buyer sees the room. Those who can't afford to replace their chipped floors can instead paint over the flaws with attractive white and black squares. Paint the walls in a light gray or pale yellow, and see how quickly the entire tone of the kitchen changes to a softer and more beautiful room.
The real value of remodeling a kitchen is the act of improving the home. When homeowners take the time to reseal cabinets or to swap out a refrigerator for a more energy-efficient appliance, they send a powerful message to future buyers. Ultimately, it's a sign that people take pride in their home and showed it the respect it deserved while they lived there. It's this kind of reassurance that ultimately has the best returns for homeowners.
2019-05-16T09:41:00-07:002020-10-29T04:03:43-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:97574 Easy Ways To Winterize Your Home
<img style="display: block; float: right; margin-bottom: 30px; margin-left: 15px; width: 475px;" src="https://assets.site-static.com/userfiles/1785/image/winterizing-your-home.jpg" alt="How To Winterize Your Home in 4 Easy Steps" width="475" />It’s no secret that extreme cold weather can wreak havoc on a home if it isn’t prepared to endure it. Homeowners can take steps to prepare their home for the harsh cold of winter in many different ways, and this is known as “winterizing”. It’s highly recommended that all homeowners take steps to winterize their homes in order to protect them, especially here in Canada, because winterizing helps prevent damage to the home such as pipes bursting, which is a common and expensive problem. The Spring and Summer are great times to winterize your home - especially if considering <a href="https://www.fortmcmurrayrealestate.com/blog/what-is-the-home-selling-process/" target="_blank">selling your home</a>. Here are some easy ways to winterize any home and help it survive the cold.
1. Change the Furnace Filter
Furnace filters normally need to be changed several times a year in order to keep everything running smoothly, but it can be easy for homeowners to forget to do so. Changing the furnace’s filter helps keep it in working order, which is especially necessary during the winter. All furnaces use different size filters, so homeowners should make sure they know the proper kind to buy if they aren’t already familiar with it. Hardware stores also sell replacement filters in multipacks, so it might be a good idea for some homeowners to stock up and keep a few on hand so they don’t have to run out and buy one each time it needs to be replaced.
2. Run Ceiling Fans in Reverse
For some homeowners, the thought of running ceiling fans during winter is surprising, but it’s actually very helpful. Most ceiling fans have a switch on them that will change the direction that the fans rotate. In one direction, air gets blown down, and in the other, it gets sucked up. Heat naturally rises, so warm air gets stuck on the ceiling, and running the ceiling fan in reverse will force that air to get circulated around the room, warming the whole space. Running ceiling fans can also help reduce the reliance on the furnace and reduce heating costs, so it can be helpful in more than one way.
3. Protect Pipes From Freezing
As briefly mentioned earlier, pipes bursting is a common problem that no homeowner wants to deal with. It occurs when water freezes in a pipe, and the expansion that occurs as it freezes puts too much pressure on the pipe, causing it to burst. There’s a few different ways homeowners can help protect their pipes in the winter. They include:
Open cabinet doors to expose pipes and allow them access to warm airflow.
Let faucets drip continuously to help prevent water from freezing while still.
Wrap pieces of <a href="http://www.icynene.ca/en-us/news/insulating-pipes-icynene-reduces-risk-freezing" target="_blank">foam around pipes</a> to insulate and protect them from the cold.
Doing any or all of these things can drastically help reduce the chance of water freezing in the pipes, so keep them in mind when the weather gets especially cold.
4. Insulate the Windows
Windows let in a lot of cold, especially if they’re single pane and not double or triple pane windows. Fortunately, there’s an easy way to add some insulation to windows without having to invest in brand new windows. <a href="https://www.fortmcmurrayrealestate.com/stone-creek-homes-for-sale.php" target="_blank">Stone Creek homeowners</a> can purchase a package of window film insulation from their local hardware store. This insulation film is clear and can be stuck directly to the glass of the window, giving it a little bit more help than it would have had otherwise with keeping the cold out. It isn’t as effective as double and triple pane windows, but it’s a lot more cost effective.
Taking steps to winterize a home isn’t difficult or time consuming. Just these four strategies can help a lot when it comes to protecting a home from the extreme cold of the Canadian winter.
2019-05-09T09:33:00-07:002022-06-02T09:38:55-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:9756The Potential Risks and Pitfalls of FSBO Home SalesThe Potential Risks and Pitfalls of FSBO Home Sales<br /><br />
<img class=" img_box_right" src="https://assets.site-static.com/userfiles/1785/image/should-you-sell-a-home-without-a-real-estate-agent.jpg" alt="What Sellers Need to Know About the Risks of FSBO Home Sales" />Those considering putting their <a href="https://www.fortmcmurrayrealestate.com/stone-creek-homes-for-sale.php" target="_blank">Stone Creek home up for sale</a> might be tempted to undertake the process without the assistance of a real estate professional. However, there are many things to contend with during a For Sale By Owner (FSBO) home sale. Without an agent overseeing the complexities of home inspections, appraisals, financing and title searches, a few common problems are bound to arise during the process. Here are some top pitfalls and risks of FSBO home sales.
FSBO is Time Consuming
There's a reason why being a real estate agent is typically a full-time position, as selling homes takes an enormous amount of effort. There is the time spent trying to attract and find buyers and a myriad of paperwork required that will have varying deadlines sellers must meet. Then buyers should be pre-screened and be pre-approved for a mortgage before getting too involved in the process.
Buyers will naturally want to see the home, so owners with full-time employment outside the home might not have this time to spend handling the daily work required in FSBO home sales. After all, what little time owners have ‘off' will be filled with phone calls, follow up emails, handling paperwork, and allowing potential buyers to come in for a look. If time is a precious commodity, FSBO might not be the best route to selling a home.
Safety & Security Concerns of FSBO Home Sales
When home shoppers are seeking out deals, they will often see an FSBO sign in the yard and decide to ‘stop by'—often unannounced. Allowing complete strangers into the home without any pre-screening can be very risky. After all, they may be just nosy neighbors, but they might also be <a href="https://reolink.com/how-to-know-if-your-house-being-watched-or-targeted-by-burglars/" target="_blank">thieves casing the home</a> and looking for items to come back and take at a later time.
Real estate agents often insist on showing homes by appointment or through open houses to pre-screened serious buyers who are pre-approved. They also have technological aids that help them keep track of visitors to the home. These devices also allow agents to show homes while owners are away via unique security access codes. If safety and privacy or vital to home sellers, taking on the FSBO process might prove intimidating and somewhat cumbersome.
Attention to Every Detail is Essential
One of the most common mistakes made in FSBO transactions is the sellers underestimating the complexity of the process. The laws and rules will vary between provinces and localities, and the potential for making errors is substantial. One might be surprised to know that just one missing document or one document with missing or incorrect information can cause a deal to fall apart. In fact, in certain cases, making such mistakes can leave sellers open to future litigation.
Of course, beyond working through the myriad of paperwork details from day one to closing and beyond, sellers need to understand how to properly calculate their property's value. This can depend on an array of factors that only real estate professionals can typically comprehend. Because an agent's job involves dealing with such details day in and day out, there are fewer chances for costly mistakes versus sellers taking on the challenge. <a href="https://www.fortmcmurrayrealestate.com/blog/how-real-estate-professionals-market-homes-for-sale/" target="_blank">Real estate agents also know how to market a home</a>, to sell it for the most money in the least amount of time.
Risks of Losing Money in FSBO Scenarios
Many sellers take this route believing that they will be saving money on commission fees. However, this isn't necessarily true, as who pays for commission in real estate transaction is negotiable and could fall upon either the buyer or seller. Furthermore, FSBO houses tend to sell for less than those being promoted by an agent, so any commission fees are likely well worthwhile.
Don't consider FSBO home sales unless you are ready to give the process your full attention. Reach out to a local real estate professional before making the choice to sell a home on your own.
2019-05-02T07:54:00-07:002020-10-31T03:40:44-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:97555 Essential Tools Every Homeowner Should Keep in Their Toolbox5 Essential Tools Every Homeowner Should Keep in Their Toolbox<br /><br />
<img class=" img_box_right" src="https://assets.site-static.com/userfiles/1785/image/tools-every-homeowner-may-need.jpg" alt="Tools for the Home" />New homeowners may find that costs add up quickly when hiring someone to perform routine maintenance and make minor repairs in a home. One way to stay within the budget is to tackle a few basic tasks and repairs. Explore some common tools every homeowner should have to help meet their needs when making repairs and performing maintenance.
Get It Exact
Whether it is for buying new furniture or measuring for <a href="https://www.fortmcmurrayrealestate.com/blog/best-practices-for-home-lighting/" target="_blank">new lighting in your home</a>, new homeowners cannot go wrong with buying a tape measure. Get one long enough to provide sufficient length, like the 25-foot tape measure, and look for one with a blade to prevent buckling.
See in the Dark
Inside the house or in the car, every homeowner should have a portable flashlight. Use it to check out potential issues in poorly lit areas of the basement or crawlspace. Feel free to take it along on car rides just in case of a breakdown. New LED flashlights are another useful option for the homeowner who is looking for a portable source of light for repairs, road trips and exploring the great outdoors.
Turn and Tighten Easily
<a href="https://www.thisoldhouse.com/ideas/fixing-leaky-faucet" target="_blank">Fixing a leaky faucet</a>? The fix can be pretty simple. Homeowners have options when looking at wrenches. They can get a few adjustable wrenches to tighten and loosen hex nuts and bolts. An alternative is the adjustable crescent wrench which can fit around different size nuts and bolts. Homeowners may need a larger size wrench for better leverage and a small 6-inch one for those tight spaces.
Work around the Home
Prevent unnecessary back strain when cleaning up around the home. For gardening, mulching, carrying crushed stone and transporting heavy tools, look no further than a wheelbarrow. Lift and transport heavy items with ease while keeping items within secure with a wheelbarrow that has a raised lip.
Keep Eyes Protected
Safety glasses are a must-have when handling numerous DIY projects. Need to sand down counters or cut wood for additional shelving? Choose high-impact safety glasses to protect more of that sensitive eye area and prevent an avoidable injury.
Take Care of Your Home
Every <a href="https://www.fortmcmurrayrealestate.com/parsons-creek-north-homes-for-sale.php" target="_blank">Parsons Creek North homeowner</a> can benefit from a basic tool kit that can grow with their needs over time. Begin with a starter kit to address common maintenance tasks and repairs, and avoid the costs of hiring a professional.
2019-04-19T07:36:00-07:002020-11-04T05:29:30-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:9754How Real Estate Professionals Market Homes for SaleHow Real Estate Professionals Market Homes for Sale<br /><br />
<img class=" img_box_right" src="https://assets.site-static.com/userfiles/1785/image/what-a-realtor-does-to-market-a-home-for-sale.jpg" alt="What Strategies Top Agents Use to Market Homes" />When it comes to <a href="https://www.fortmcmurrayrealestate.com/blog/what-is-the-home-selling-process/" target="_blank">selling a home</a> using marketing strategies, not all real estate professionals strive to get much exposure beyond putting a sign in the yard and posting an ad in the Multiple Listing Service (MLS). However, doing the bare minimum and crossing fingers isn't enough to get a home sold for what it's worth in a reasonable period. Here's what real estate professionals should be doing for sellers in today's marketplace.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.
The Best Realtors Go Beyond Multiple Listing Services
The first question to ask potential agents is how they plan to actively market the property and draw in buyers. If all they have to talk about is MLS sites like Trulia, <a href="https://www.realtor.com/" target="_blank">REALTOR.com</a>, Redfin, Zillow, etc., then move on to other candidates who are more actionable concerning the marketing process. After all, marketing is the reason sellers pay for the assistance of agents to begin with. Find a professional who actively discusses using effective home marketing strategies such as:
Search Engine Optimization: Strategic SEO drives web traffic to real estate listings through use of key terms.
Search Engine Marketing: SEM directs paid web traffic through ads to boost the home's exposure.
Facebook and YouTube Ads: Facebook has become a highly trafficked site for home shoppers and sellers, with YouTube quickly gaining traction within the marketplace. Some agents are also actively dabbling with Twitter ads to some success.
Greater exposure, particularly online, can lead to faster response times and more bids from serious buyers.
Discovering the Target Market for a Seller's Property
Any established agent will be able to explain to sellers a fairly accurate portrayal of the type of buyers who be most interested in the property being sold. Knowing who to market to is just as important than actually doing the marketing itself, as reaching thousands of buyers looking for something entirely different wastes time and money.
Great agents truly understand the evolving demographics of the local communities, who's moving to the city and who's leaving and the current desire for specific types of homes. Knowing exactly the type of families or individuals to gear marketing efforts towards can be the difference in a home that sells quickly and one that sits on the market for a while.
Marketing with a Strong Visual Campaign
Those looking for a new home have likely already peeked online to get an idea of what the market is like, the types of homes to consider and price points. Just as within a pamphlet, the first thing that online viewers will typically look at are the photos of the home. It's now estimated that over half of buyers find their dream home online. So, be sure that the realtor plans to use a professional photographer to take snapshots of the home.
Professional cameras will take much better photos and 360-degree videos than a tripod or hand-held cell phone or basic digital camera. Pros can use wide angle lenses and natural lighting to put the home in it's very best light literally. One of the newest marketing innovations involving photos and videos are captured by drones to highlight the exterior of the home and surrounding property, so this could be another opportunity for marketing to inquire about.
Determining the Right Home Price Point
It is important to have a clear understand concerning the price being set on an <a href="https://www.fortmcmurrayrealestate.com/eagle-ridge-homes-for-sale.php" target="_blank">Eagle Ridge home for sale</a>. In fact, pricing can be the very most important factor of any real estate marketing plan. Professional agents should be able to create a comparative market analysis and use their personal knowledge of the local area to set an accurate price point from day one.
Homes that linger on the market for too long can cause sellers concern, especially if they are in a hurry to sell. Furthermore, such homes can cause buyers to worry that something may be wrong with the property due to that long listing period. If this occurs, savvy agents will begin discussing a slight change in pricing to reboot the home's interest on the marketplace.
Sellers Do Their Homework
There are a number of ways that a truly great real estate agent will market homes for sale. What the homework of the buyer is would be to ask about the above processes common in real estate marketing today to make sure agents are on board and eager to sell your home. The key to success is for buyers to know who they are hiring and what their approach will be to get their home sold quickly—and for the right price.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.
2019-04-12T10:20:00-07:002020-11-04T01:41:30-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:9753Home Siding: Options For Every HomeHome Siding: Options For Every Home<br /><br />
<img class=" img_box_right" src="https://assets.site-static.com/userfiles/1785/image/different-types-of-siding.jpg" alt="4 Siding Options For Your Home" />When it comes to a home’s external appearance, nothing can define it quite as much as its siding. There are many different options on the market that homeowners can choose from, whether they’re <a href="https://www.fortmcmurrayrealestate.com/blog/new-construction/" target="_blank">buying a new construction home</a> or updating their old siding. Each type of siding comes with its own advantages and disadvantages, so it’s important for homeowners to learn about the types they’re interested in order to make an educated decision. Here are some of the most popular types of siding and what makes them each unique.
Wood Siding
When it comes to classic choices, wood easily is one of the most well-known. Wood is easy to cut and shape, so it’s a popular choice for siding, and it can potentially last decades if the homeowner takes care of it. Plus, because it’s so common, homeowners won’t have a problem buying and finding someone to install it. However, wood’s biggest downfall is that it can fall victim to bugs and animals. Insects can eat their way into it, and those insects attract woodpeckers that will destroy the siding in order to get to the bugs. However, there’s no guarantee that this will or won’t happen, so homeowners need to decide if it’s something they’re willing to risk.
Brick Siding
Another very common type of siding is brick. Brick is loved for many reasons including but not limited to:
Its durability
It has a timeless aesthetic
It’s low-maintenance
It resists mold growth
It’s fire resistant
It doesn’t rot
<a href="http://utshomerenovations.ca/brick-versus-stone-exterior-aesthetic-appeal/" target="_blank">Brick siding can be a fantastic choice</a> for many homes due to all of these advantages, but homeowners need to be aware that brick isn’t a possibility for every home. This is because of two primary reasons: the first is that brick is quite expensive so it won’t fit all budgets, and the second is that if a home wasn’t built for brick siding, it may need special work done to ensure that it can handle the weight of the siding.
Vinyl Siding
One of the most affordable options for siding is vinyl. While it may not seem as luxurious as wood or brick, vinyl shouldn’t be written off because it offers quite a few advantages. Because of its affordability, it provides a quality substitute for homeowners who can’t afford more expensive siding options, but it doesn’t sacrifice look or quality. Vinyl can be molded and colored to look like many other siding types, so homeowners who like the look of wood can still have that same aesthetic at a fraction of the price. However, vinyl does have a tendency to collect grime and mildew over time, so homeowners need to clean it as necessary to make sure it stays looking good.
Fiber Cement Siding
A less common type of siding is called fiber cement. It’s closest to vinyl siding because it’s manmade as opposed to natural material like wood and brick are. And like vinyl, fiber cement is a cheaper option than natural options, and it can also be made to imitate the look of other materials. Fiber cement siding is fireproof, water resistant, and won’t be damaged by insects. One of it’s largest disadvantages, however, is that it’s less common, and <a href="https://www.fortmcmurrayrealestate.com/dickinsfield-homes-for-sale.php" target="_blank">Dickinsfield homeowners</a> may need to go out of their way for it if they really want it.
There are many different types of siding, but not every siding is an ideal match for every homeowner or every home. These four siding options can be a good start for many homeowners, but it’s up to them to look further to find the one that’s perfect.
2019-04-04T14:11:00-07:002020-11-04T02:12:06-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:9752Modern Home Miracles: the Best New Construction Materials and Technologies Found in Modern HomesModern Home Miracles: the Best New Construction Materials and Technologies Found in Modern Homes<br /><br />
<img class=" img_box_right" src="https://assets.site-static.com/userfiles/1785/image/new-building-tech-for-homes.jpg" alt="Modern Home Technologies and Materials for Home Owners" />Modern homes are more efficient and functional than ever. New building technologies come out all the time to save homeowners money and reduce their dependence on fossil fuels. If you're thinking about building a home in the next few years, here's what you need to know about building materials that can help.
Solar Thermal Cladding
A home's cladding is its siding, which usually takes the form of a traditional material like brick, wood or vinyl. Solar cladding is designed to look very much like traditional siding while it absorbs energy from the sun. Solar cladding can be used to heat the home's interior, and the home's plumbing as well. Solar thermal cladding is the perfect product to accompany <a href="https://www.fortmcmurrayrealestate.com/blog/the-costs-and-returns-of-residential-solar-panels/" target="_blank">solar panels on the roof of a home</a>.
Some homeowners worry about super-heating their home in summer. However, the cladding is designed to deflect summer sun. Homeowners who install solar thermal cladding on their home enjoy green heat in the winter and a reduced dependence on fuel like natural gas.
Grasscrete and Environmentally-Friendly Concrete
In its normal form, concrete is not an environmentally friendly material. Making concrete and disposing of it is bad for the environment. Still, concrete remains one of the most useful building materials in existence, and it is used regularly in the building of structures, walkways and driveways.
To solve this problem, engineers and scientists have been working hard to come up with a sustainable alternative. Environmentally friendly concrete, which is still under development, is designed to absorb carbon dioxide from the air. This concrete is in its trial stages, but it may soon be available to home builders everywhere.
In addition, a new product called Grasscrete is changing the way concrete functions while in the ground. Grasscrete is a concrete product with holes in the center to allow grass to poke through. Grasscrete uses less concrete (and thus is environmentally friendlier), and also enables water to be absorbed into the ground beneath the concrete. Grasscrete can be used to make driveways and walkways.
Rammed Earth
Rammed earth is a technology that has been around for thousands of years. In fact, some portions of the Great Wall of China is made using rammed earth! While this is not a new building technique, it is now gaining popularity with modern homeowners.
Rammed earth is made by building up forms to hold earth, and then tightly compacting the earth in between the forms. When the earth is dry and hard, the supporting forms are removed. Rammed earth is environmentally friendly because it's made from a completely natural material. Rammed earth is also fire resistant, and an excellent insulator.
Smart Home Technologies
Smart home technologies are taking over! They're easy to install, and can be installed after the fact. Many smart technologies help the home run more efficiently and conveniently. Common examples of smart home technologies include:
Smart blinds. These products can be programed to raise and lower according to a pre-set schedule, or with the progress of the sun throughout the day.
Smart locks. A <a href="https://www.postscapes.com/wireless-door-locks/" target="_blank">smart lock can be operated via wifi and bluetooth</a> on a smart phone or a computer console, for added security for homeowners.
Smart thermostat. Many smart thermostats are designed to "learn" the behavior patterns of the homeowner, to turn on the thermostat at times when it's most desired.
Home assistant. A home assistant enables the homeowner to control all of their home's smart devices from one easy to access location.
Green Roofs and Walls
Green roofs and walls are easily recognizable. These structures have soil and plants attached to them, either over a portion of the structure, or over the entire structure. Often, green roofs and walls have smaller plants like flowers and grass. However, some green roofs support large vegetation.
There are many advantages to green roofs and walls. Structures of this nature are good for biodiversity conservation. Some green structures are good for growing crops. Finally, these walls are excellent for stormwater management. Plants on the roof absorb the water, and a waterproof membrane on the structure helps protect the wall beneath.
Work With Your Home Builder
<a href="https://www.fortmcmurrayrealestate.com/waterways-homes-for-sale.php" target="_blank">Waterways new home buyers</a> who are interested in using cutting edge technologies to build their home can work with their home builder to integrate these materials into their residence. A good home builder will know what to do in order to ensure these materials are used to their full potential. If you're a homeowner who would like to start the construction of your modern residence, contact a reputable home builder in your area today.
2019-03-21T12:24:00-07:002020-11-01T12:02:08-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:97515 Sustainable Construction Technology Trends5 Sustainable Construction Technology Trends<br /><br />
<img class=" img_box_right" src="https://assets.site-static.com/userfiles/1785/image/what-is-sustainable-home-building.jpg" alt="What You Should Know About Green Construction Technology" />The construction industry isn't often associated with the green movement, largely because it's continued relying on traditional building methods long after the craze hit its peak. However, this stereotype is being challenged by start-ups and tech companies who see a niche market they can capitalize on. Luckily, developers, construction companies, and buyers alike are all starting to come around to more sustainable building methods. <a href="https://www.fortmcmurrayrealestate.com/blog/how-to-prepare-for-buying-a-home/" target="_blank">New home buyers</a> often make a decision based on sustainable building materials and techniques. Learn more about which trends are starting to gain traction in the Canadian housing market.
Using the Earth's Core
The Earth's core is a stable temperature no matter how hot or cold it happens to be on its surface. Canadians who aren't used to seeing the sun's rays often can use geothermal heating rather than solar power to heat and cool their homes all year round.
Geothermal energy uses a compression system and pumps to circulate the 15.5° C air to all the rooms of the home. This air can also be adjusted or augmented as need be to fit the homeowner's personal temperature requirements. And while geothermal heating does use some electricity, it can save homeowners up to 65% on their utility bills.
No More Outsourcing
When a construction company decides to outsource materials, they usually do so because of the money they can save. What they may not consider is just how much energy is used to ship and store materials that have to be transported across long distances. The costs of transport can build over time, making the cost savings a marginal win (at best) for the company.
Today, developers have more options to buy locally. More companies are finding ways to create in-demand products within Canada without a substantial price increase. This is true of even the more exotic products that a building may use. For example, some companies are growing bamboo species in Canada, so construction companies don't have to set up partnerships in Asia to put the finishing touches on their building.
Water Reclamation
The more water is reclaimed from harvesting systems, the more drinking water everyone can share. Some construction companies have even been able to eliminate water bills entirely for the homeowners who purchase their properties. Both rural and urban households can benefit from water harvesting because rainwater is usually higher quality than that which comes from a dam or river.
<a href="https://rainwaterharvesting.tamu.edu/rainwater-basics/" target="_blank">Rain water harvesting is a sustainable choice</a> for new and old construction alike, as these systems can be retrofitted to many older homes. (However, if a home contains asbestos or other harmful materials, it cannot be retrofitted with a water harvesting system.)
Reuse and Recycle
One of the best ways to build is to put old materials to good use. Today, companies are doing everything they can to reimagine what a building material is. So an old Heineken bottle can be a new brick for a home. An old pair of jeans can be used to insulate a home. Shed bark can become new siding. And old tires or corks can become new floors.
The companies who are turning these products into new materials can either hide the materials or refashion them into an attractive new product. Ultimately, it means homeowners don't have to choose between sustainability and aesthetics.
Taking Back VOCs
A volatile organic compound is one that can pollute an area with toxic fumes. Too many VOCs in the air and inhabitants can respond with chronic health problems (e.g., asthma, allergies, etc.). From the paint on the walls to the glue that binds the wallpaper, VOCs are more common than homeowners realizing.
The demand to remove these compounds from products has been met by plenty of companies taking action. The competition makes it easier for builders to shun VOCs for more environmentally friendly products. When citrus can be used as an effective paint thinner and flour can be used as a strong binder, there's no reason to expose people to harmful fumes any longer.
The Old and New
The modern technology of the day is so advanced that people may think we have no use for the methodology of yesteryear. But some clever companies are looking to the ancient world for present-day tips. In drier climates, homes made of compressed Earth were common. This mix of soil and clay worked well in the sun but could easily be destroyed in a rainstorm. However, when combined with a water run-off system, compressed Earth can once again become a valid building method that can be used in Canadian homes.
The sustainable trends of today are fed as much by demand as they are by market competition. Only time will tell which sustainable trends become the new normal. However, the advancements are certainly promising to any responsible <a href="https://www.fortmcmurrayrealestate.com/saprae-creek-homes-for-sale.php" target="_blank">Saprae Creek homeowner</a> who wants to do the right thing for the planet.
2019-03-14T07:00:00-07:002020-10-29T03:54:06-07:00Brett Campbelltag:fortmcmurrayrealestate.com,2012-09-20:9750The Truth About Millennial Home BuyersThe Truth About Millennial Home Buyers<br /><br />
<img class=" img_box_right" src="https://assets.site-static.com/userfiles/1785/image/do-millennials-really-want-to-buy-a-home.jpg" alt="All About Millennial Home Buyers" />There are a lot of rumours surrounding Millennial home buyers. Some of these rumours say that Millennials don't want to buy homes and can't ever afford to anyway. The truth of the matter is that many Millennials are entering the real estate market and many more are considering entering in the near future. If you're a Millennial who is thinking about buying a home someday, here's what you need to know.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.
1. Millennials Can Afford to Buy a Home
<a href="https://www.fortmcmurrayrealestate.com/blog/how-to-prepare-for-buying-a-home/" target="_blank">Buying a new home</a> does take careful budgeting and some saving. A typical down payment on a house is <a href="https://www.ratehub.ca/mortgage-down-payment" target="_blank">5%, or larger for a house over $500,000</a>. Many home buyers start saving years before they start shopping for a property, to ensure that they will have the money needed to purchase a house.
2. Many Millennials Want to Live in the Suburbs
Millennials have a reputation for wanting to live in urban areas. As Millennials enter the real estate market, however, they soon come to realize that the most affordable properties are in the residential neighbourhoods surrounding urban areas.
Quality of life in the suburbs is good, because homes are affordable and often within commuting distance of the nearby urban centers. This makes the suburbs a very attractive option for home buyers who have growing families.
3. Many Millennials Don't Want to be Renters Forever
Renting does have its advantages, but as Millennials get older, many of them are planning to <a href="https://www.fortmcmurrayrealestate.com/prairie-creek-homes-for-sale.php" target="_blank">buy a Prairie Creek new home</a> sometime in the near future. Buying a <a href="https://www.chase.com/news/091817-buying-vs-renting" target="_blank">home is satisfying</a> because homeowners have the freedom to do what they want to their house, without permission from a landlord. Homeownership is also a smart investment, and many people who own their own home are able to sell for a large profit after they've paid off their mortgage.
Work With a Real Estate Professional
If you're a home buyer who would like to enter the real estate market for the first time, find a real estate agent you can trust. A good real estate professional can help you decide whether now is the right time to buy. Your real estate agent can also give you tips and suggestions throughout the home buying process, and can help you negotiate a good deal for the house you choose.
For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.
2019-03-08T09:45:00-07:002020-10-29T03:56:46-07:00Brett Campbell