11 Telltale Signs It’s Time For a New Home Main Image

Could it be time for a new Edmonton home? Here are 11 telltale signs.

1. You’re Tired of Paying Someone Else’s Mortgage

Why line someone else’s pockets with your hard-earned money when you could be working towards your own financial freedom? Homeownership won’t just get you out from underneath your landlord’s thumb, it will also help you build valuable home equity and maintain stable monthly payments (goodbye surprise rent increases).

2. Your Family is Growing

Perhaps you’ve met that special someone. Or maybe you and your partner are planning on expanding your home to include children, pets or ageing family members. A larger property will allow you to make room for your flourishing family.

3. The Kids Have Flown the Coop

On the other hand, you might want to rethink your living situation if your family size has dwindled over the last few years. If the kids have moved out and you now find yourself with more rooms than people, it may be time to downsize.

4. You’re Short On Storage

Are your closets bursting at the seams? Has your garage become a storage locker for belongings rather than a place to park your car? If you have more stuff than space, it’s time to start looking for something better suited to your needs.  

11 Telltale Signs It’s Time For a New Home Commute Image

5. All You Do Is Commute

Spending more time in the car than you do at home isn’t just impractical, it’s expensive! By moving to a different home in a better-situated community, you can look forward to less time behind the wheel and more time doing what you love. Not to mention, you’ll save big bucks on gas!

6. The Maintenance Is Too Much  

Between mowing the lawn, shovelling snow, house cleaning and performing repairs, homeownership is a lot of work! Rather than struggling to keep up, why not spend your time winding down with a smaller, low-maintenance property such as a townhome, duplex or apartment-style condo?

7. You No Longer Love Your Neighbourhood

When it comes to quality of life, your neighbourhood is every bit as important as your home. Having essential amenities nearby such as good schools, grocery stores, medical services, parks, retailers, and restaurants, can really make a difference in terms of your family’s comfort and happiness.

8. Your Utilities Are Through the Roof

Are you paying to heat (or cool) more home than you’re using? Are your home’s features and appliances inefficient and outdated? A more practically sized home with modern systems (i.e. new windows, HVAC, roofing, hot water on demand, etc.) could save you hundreds a month!

9. You’ve Saved Your Down Payment

One of the hardest parts of buying a new home is coming up with your down payment. But once you’ve overcome this hurdle (and put a little extra aside for closing costs), you’re in a better position to be pre-approved for a mortgage loan. And, if you’re a first-time buyer, you may qualify for down payment assistance through a variety of first-time buyer programs.

10. You’re Ready to Cash Out

As a seasoned homeowner and mortgage borrower, you’ve spent years building up valuable equity in your home. Perhaps it’s time to take advantage of all your hard work. By opting to downsize your property (and your mortgage), you’ll finally have the funds to take that trip you’ve always dreamed about, start a new business venture, focus on your investments or pay your child’s tuition.

11. Interest Rates Are EXTREMELY Low

Canada’s interest rates have reached a historical new low. Whether you’re looking to buy your first home, move-up into a larger one, or downsize to a low-maintenance property, now is a great time to secure a great mortgage rate and save thousands over the lifetime of your loan.

Are you thinking about buying a new home? Check out our previous posts: 

Or, get in touch with us today to see how we can help you achieve your new home dreams!

Photo credits: shutterstock.com

Posted by Kevin Klein on

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