Connect To Homes Buyer Guide
The Edmonton Home Buyer Guide
Buying a home in Edmonton, step by step: what it costs, what to do first, and what to expect from offer to keys.
Whether it's your first home or your fifth, the process is easier when you know what's coming. This guide walks through the eight steps I take every buyer through, with the Alberta-specific details that catch people off guard.
Know your numbers
Before you look at a single listing, get clear on what you can comfortably afford each month, not just what a lender will approve.
- Add up your monthly income, debts (car, student loans, credit cards) and savings.
- Check your credit score and fix any errors on your credit report.
- Remember the costs beyond the mortgage: property tax, home insurance, utilities, and condo fees if you're buying a condo or townhouse.
Get pre-approved
A mortgage pre-approval tells you your maximum price, locks in a rate for a period, and shows sellers you're serious.
Canadian lenders "stress test" every borrower: you have to qualify at the higher of your mortgage rate plus 2%, or 5.25%. That's why your approval may come in lower than you expect.
Talk to a bank and a mortgage broker so you can compare. I'm happy to connect you with lenders I trust.
Plan your down payment
The minimum down payment in Canada depends on the price of the home:
| Purchase price | Minimum down payment |
|---|---|
| Up to $500,000 | 5% |
| $500,000 to $1,499,999 | 5% of the first $500,000, plus 10% of the rest |
| $1.5 million or more | 20% |
With less than 20% down, your mortgage needs default insurance (from CMHC or a private insurer). The premium is added to your mortgage.
Programs that help first-time buyers
- First Home Savings Account (FHSA): save up to $8,000 a year, to a lifetime maximum of $40,000. Contributions are tax-deductible and withdrawals for your first home are tax-free.
- RRSP Home Buyers' Plan: withdraw up to $60,000 from your RRSP (each, if you're buying with a partner) and repay it over 15 years.
- 30-year amortization: first-time buyers can spread an insured mortgage over 30 years instead of 25, which lowers the monthly payment.
You can use the FHSA and the Home Buyers' Plan together.
Choose your neighbourhoods
In Edmonton, the neighbourhood often matters as much as the house. Think about your commute, schools, parks and river valley access, walkability, and whether you want an established area or a newer community.
Start with my Edmonton Neighbourhood Guides, which compare price ranges, home styles and lifestyle fit. Then visit your short list at different times of day.
Tour homes with a checklist
It's easy to fall for a kitchen and miss the things that cost money later. At every showing, look at:
- The age of the roof, furnace, hot water tank and windows.
- The basement: signs of moisture, cracks, and whether it's finished with permits.
- Lot grading: the ground should slope away from the house, which matters with our spring melt.
- For condos: the monthly fee, what it covers, and how healthy the reserve fund is.
Take photos and notes at each showing. After five or six homes, they all start to blur together.
Make an offer
When you find the right home, I'll pull recent sales of similar homes so we know what it's really worth. Then we'll put together your offer, which includes:
- Price, based on the comparables and current competition.
- Deposit, held in trust and applied to your purchase.
- Conditions, usually financing and a home inspection, plus a review of the documents for a condo.
- Possession date, the day you get the keys.
The seller can accept, counter or decline. I'll negotiate for you at every round.
Remove your conditions
Once your offer is accepted, you have a set number of days to satisfy your conditions:
- Book a professional home inspection.
- Give your lender everything they need to finalize your mortgage.
- For a condo, review the bylaws, minutes, budget and reserve fund study.
When everything checks out, you remove your conditions in writing and the sale is firm.
Close and get your keys
In Alberta, a real estate lawyer handles the legal side of your purchase: reviewing the title, registering your mortgage and transferring ownership.
Closing costs to budget for
- Legal fees and title insurance.
- Land titles fees: Alberta has no land transfer tax, but you pay registration fees of $50 plus $5 for every $5,000 of the price, and $50 plus $5 for every $5,000 of your mortgage. On a $450,000 home with a $405,000 mortgage, that's about $955.
- Property tax and utility adjustments if the seller has prepaid them.
- Moving costs, plus insurance in place by possession day.
On possession day, your lawyer releases the funds and you pick up your keys.
Ready to start your Edmonton home search?
Let's talk about your goals, your budget and the neighbourhoods on your list. No pressure, just a plan.
Book a Buyer ConsultationMortgage rules and program limits are current as of September 2026 and can change. Confirm the details with your lender and lawyer before you buy.