Although the majority of condos that are over 1000 sqft are priced between 300,000-400,000, there are usually some affordable options under $300,000, in buildings with great locations such as Hillside Estates, and the Capital Centre.

Then there are smaller buildings where listings come up for sale less frequently. Properties such as these may need some updating due to their age but if they are well managed, they are solid investments, and comfortable to live in. There are also a growing number of lofts and condos being developed downtown from former commercial or industrial style buildings. These Edmonton condominiums and lofts typically not only have generous floor space but also feature 10 foot or higher ceilings.

With such a significant difference between the asking price of older and new condos; are there opportunities to purchase an older condo in Edmonton for a lower price? Could some of the money saved be spent on renovating your condo to your personal style?

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The Edmonton real estate market has multiple different options for every individual or family. Whether it is a condominium, a house, an apartment, or another type of living arrangement, Edmonton has the place for you. Alberta homes span the entire scope and you can be sure that there is more than one to suit your budget. Another great option you have when choosing your house in Edmonton is whether you would like a secluded dwelling tucked away in the wilderness or a modern home that is close to the comforts of city life.

Edmonton is a major center for many different things in Alberta. It is the major economic, and oil and gas industry center for northern and central Alberta. Over the years, Edmonton has been given the nickname “Oil Capital of Canada.” It’s processing of massive oil, gas, and oils sands reserves is considered to be second in the World, only behind Saudi Arabia. Despite the apparent focus on oil and gas, Edmonton’s economy is now the second-most diverse in Canada.

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Bonnie Wegerich, president of CREB® says, “We expect there to be a few bumps on this road to recovery but we believe the worst is over. Home prices have held firm and edged upwards in some markets over the past months. This has helped buoy up the confidence of both buyers and sellers.”

The fact is that that that the market has worked through the worst of the storm. If you have been thinking about realizing the dream of home ownership for your family, now is definitely the time. Having the worst of the economic crisis, behind us prices are not likely to dip below current levels in the near future. If you need help or have questions about how to get started with buying an Edmonton Condo Check out http://www.michaelsells.ca.

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