Investing in real estate is one of the most reliable ways to build wealth over time. Whether you’re just starting out or looking to expand your portfolio, having a solid investment plan is key to achieving success. In Alberta, the province’s strong economy, diverse housing markets, and relatively affordable property prices make it a prime spot for real estate investment. Let’s break down how you can create your own real estate investment plan—step by step.

1. Set Your Goals

Before diving into real estate, take some time to clarify your goals. Ask yourself:

• Are you looking for long-term appreciation or short-term cash flow?
• Do you want to invest in residential properties, commercial spaces, or land?
• What’s your timeline for seeing returns?

Knowing your objectives will help you decide what types of properties to focus on and where to allocate your resources.

2. Assess Your Financial Situation

Take a good look at your finances. How much capital do you have available for a down payment? Can you handle ongoing expenses like maintenance, property taxes, and potential vacancies? Speak to a mortgage broker to understand your borrowing power and explore financing options available. Programs like the First-Time Home Buyer Incentive or regional grants could also play a role in your planning.

3. Research Alberta’s Real Estate Market

Alberta offers a variety of markets, each with its own unique characteristics:

• Calgary: A growing city with a strong job market, diverse communities, and steady demand for rentals.
• Edmonton: Known for its stability, Edmonton’s real estate market is popular among investors seeking consistent returns.
• Smaller towns and rural areas: These can be great for those looking to invest in affordable properties or vacation rentals.

Keep an eye on factors like job growth, population trends, and infrastructure development. The more you know about the local market, the better equipped you’ll be to spot opportunities.

4. Build Your Team

Real estate investing is a team sport. Surround yourself with professionals who can guide you through the process:

• Real estate agent: Choose someone with expertise in investment properties.
• Mortgage broker: They’ll help you secure financing.
• Lawyer: Essential for handling contracts and legal matters.
• Accountant: To advise on tax implications and deductions.
• Property manager: If you don’t want to manage tenants yourself.

Working with experienced professionals will save you time, money, and stress.

5. Identify Your Investment Strategy

There are many ways to invest in real estate. Some popular strategies include:

• Buy and hold: Purchase a property and rent it out to generate long-term income.
• Fix and flip: Buy a fixer-upper, renovate it, and sell for a profit.
• REITs (Real Estate Investment Trusts): A more hands-off approach where you invest in a company that owns and operates income-generating real estate.
• Short-term rentals: Properties listed on platforms like Airbnb can offer high returns in the right locations.

Choose a strategy that aligns with your goals, financial situation, and risk tolerance.

6. Analyze Properties

When you’ve identified a potential property, analyze its profitability. Calculate metrics like:

• Cash flow: Income from rent minus expenses.
• Cap rate: The property’s net operating income divided by its purchase price.
• ROI (Return on Investment): Your net profit as a percentage of your initial investment.

Ensure the numbers make sense before moving forward. Remember, not every property is a good deal.

7. Secure Financing

Once you’ve found the right property, secure financing. Alberta’s mortgage market is competitive, so shop around for the best rates and terms. Consider pre-approval to streamline the buying process and strengthen your offer.

8. Close the Deal

Work with your real estate agent and lawyer to finalize the purchase. Review all documents carefully, conduct inspections, and ensure you’re aware of any conditions tied to the sale.

9. Manage Your Investment

Owning a property is just the beginning. To maximize your investment, stay on top of:

• Maintenance: Keep the property in good condition.
• Tenant management: Screen tenants carefully and respond to their needs promptly.
• Market trends: Monitor the local market to identify when it might be time to sell or refinance.

If you’re not interested in hands-on management, consider hiring a property manager to handle the day-to-day tasks.

10. Reassess and Scale

Real estate investing is an ongoing process. Regularly review your portfolio to assess its performance and make adjustments as needed. Once you’ve built some equity and experience, you can look into scaling your investments by purchasing additional properties.

Creating a real estate investment plan in Alberta takes time and effort, but the rewards can be significant. By setting clear goals, doing your research, and building the right team, you’ll be well on your way to growing your wealth through property. Over the years, I have acquired a nice portfolio of rentals which will help secure me through my retirement years. I love to share my property management skills, the ins and outs of dealing with tenants and practical real estate advice to help anyone achieve the same goals.

Remember, every successful investor started with that first step—so why not take yours and call me today! Visit me on Facebook and Google for the latest in real estate trends and news.

If you’re in the market for a home, you might be wondering whether buying a brand-new construction is the right choice for you. In my 3+ decades as a real estate professional, I’ve worked with many clients who’ve considered new builds, and it’s always a balance of weighing the benefits against the potential drawbacks. Let’s break it down so you can make an informed decision.

The Benefits of Buying a New Construction Home

1. Customization Options One of the biggest draws of new construction is the ability to customize. From floor plans to finishes, many builders offer a variety of options so you can design a home that fits your style and needs perfectly. Want an open-concept kitchen with quartz countertops? No problem. Prefer hardwood floors over carpet? You’ve got it.
2. Modern Design and Technology New homes are designed with today’s lifestyle in mind. Think open floor plans, large windows for natural light, and energy-efficient systems. Smart home technology, like programmable thermostats and built-in security systems, is often standard or available as an upgrade.
3. Lower Maintenance Costs Everything is brand new, from the roof to the appliances, meaning you’re less likely to face costly repairs in the near future. Plus, many builders include warranties, which can give you peace of mind for years to come.
4. Energy Efficiency New builds must adhere to current building codes, which means better insulation, high-efficiency windows, and energy-saving appliances. This can lead to lower utility bills and a smaller environmental footprint.

The Drawbacks of Buying a New Construction Home

1. Higher Initial Costs New construction homes can come with a premium price tag compared to resale homes. While you’re getting a brand-new product, it’s important to budget for potential upgrades and extras that may not be included in the base price.
2. Longer Wait Times Depending on the stage of construction, you may have to wait months—or even over a year—before your home is move-in ready. This can be a challenge if you need to relocate quickly.
3. Lack of Mature Landscaping One thing many new construction neighborhoods lack is mature trees and greenery. Landscaping can take years to grow, and in the meantime, you might feel like you’re living in a construction zone.
4. Location Trade-Offs Many new builds are located on the outskirts of cities, where land is more readily available. While these areas are often growing, they may lack the established amenities and shorter commute times that older neighborhoods offer.

Is a New Construction Home Right for You?

Choosing a new construction home is a highly personal decision. If you value modern design, energy efficiency, and the chance to personalize your space, it could be the perfect fit. On the other hand, if you’re looking for a shorter timeline, a central location, or a home with character, you might prefer a resale property.

If you’re considering a new build, I’d love to help you navigate the process. From understanding builder contracts to choosing the right upgrades, having an experienced real estate agent by your side can make all the difference. Feel free to reach out if you’d like to chat more about your options in today’s real estate market!

Sustainability is more than just a buzzword; it’s a way of life that helps protect our planet for future generations. But let’s be real—it can sometimes feel overwhelming. The good news? Living sustainably doesn’t mean you have to overhaul your entire life overnight. Small, consistent changes can make a big difference. Here’s a casual guide to help you ease into a greener lifestyle, one step at a time.

1. Reduce, Reuse, Recycle (But Mostly Reduce)

We’ve all heard this mantra before, but it’s worth repeating. The most impactful action you can take is to reduce what you consume in the first place. Here’s how:

• Say no to single-use plastics: Carry a reusable water bottle, coffee mug, and shopping bag.
• Shop intentionally: Buy only what you need and look for quality items that will last.
• Declutter responsibly: Donate items you no longer use instead of tossing them in the trash.

2. Go Local

Supporting local businesses and farmers isn’t just good for your community; it’s also better for the environment. Locally produced goods often require less transportation, which means fewer carbon emissions. Visit farmer’s markets, explore local boutiques, and enjoy farm-to-table restaurants when dining out.

3. Conserve Energy at Home

Saving energy doesn’t just lower your utility bills; it’s also a win for the planet. A few easy tweaks include:

• Switch to LED bulbs: They use less energy and last longer.
• Unplug devices: Even when turned off, electronics can use energy if they’re plugged in.
• Adjust your thermostat: Lower it in the winter and raise it in the summer by just a couple of degrees.

4. Green Up Your Diet

You don’t have to go fully vegan to make a difference. Start small with these steps:

• Meatless Mondays: Dedicate one day a week to plant-based meals.
• Buy organic when you can: Look for produce that’s grown without harmful pesticides.
• Avoid food waste: Plan meals, use leftovers, and compost scraps.

5. Embrace Slow Fashion

Fast fashion might be trendy, but it comes at a cost—both environmentally and ethically. Instead, consider:

• Thrifting: Find unique, pre-loved clothing at thrift stores.
• Quality over quantity: Invest in well-made, timeless pieces.
• Clothing swaps: Trade clothes with friends to refresh your wardrobe without buying new items.

6. Green Your Commute

Transportation is a major source of greenhouse gas emissions. Consider:

• Walking or biking: Great for the planet and your health.
• Public transit: A more eco-friendly alternative to driving alone.
• Carpooling: Share rides to cut down on emissions and costs.

Remember, sustainable living is a journey, not a destination. Don’t stress about being perfect; even small changes add up over time. Pick one area of your life to focus on, and build from there. Before you know it, you’ll be living a greener, more intentional life.

What are your favorite tips for sustainable living? Share them in the comments—let’s inspire each other to make a positive impact!

CREB® released the final stats package for 2024, saying the year ended with 1,322 sales in December, a three per cent decline over last year, but nearly 20 per cent higher than long-term trends. Overall sales in 2024 were just shy of last year’s levels, as gains for higher-priced homes offset pullbacks in the lower price ranges caused by supply challenges.

“Population gains over the past several years have supported sales activity that has outperformed long-term trends. In 2024, sales would likely have been higher if there was more supply choice, especially in the lower price ranges,” said Ann-Marie Lurie, Chief Economist at CREB®. “That being said, we did start to see shifts occurring in the market in the second half of the year as supply levels started to improve for higher priced homes.”

As of December, there were 2,989 units available in inventory, still below long-term trends for the month but a significant improvement over the lower levels reported last December and levels reported early this year. Improved rental choice and significant gains in new home activity helped boost new listings in the resale market, driving higher inventories in the year’s second half.

While conditions vary depending on price range and property type, more housing options have helped to take some of the pressure off home prices, which stabilized in the second half of the year following steep gains in the spring. Overall, on an annual basis, total residential benchmark prices improved by over seven per cent.

As we move into 2025, supply will continue to be a dominant theme. However, how they impact prices will ultimately depend on the type of supply being added and how demand holds up in the face of a changing economic climate. On January 21, CREB® will release its forecast report, highlighting the expectations and risks facing the market in the coming year.

Airdrie
Despite some recent pullbacks, sales activity reached 1,951 units in 2024, a gain of over four per cent compared to last year. The gain, in part, was possible thanks to a boost in new listings that helped add some much-needed supply to the Airdrie market. Much of the inventory gain occurred in the later portion of the year, causing the months of supply to push above two months in September and improve throughout the last quarter of the year.

The shift toward more balanced conditions took some pressure off prices over the last quarter of the year. However, on an annual basis, the benchmark price rose by nearly eight per cent, a faster pace than the previous year. Prices rose across all property types, with faster growth occurring for the relatively more affordable higher-density homes.