5 Hidden Costs of Buying a Home in Alberta

The Edmonton real estate market continues to evolve as summer settles in, bringing new opportunities for buyers and sellers alike. Whether you are looking to purchase your first home, sell your property, or simply stay informed about local happenings, this post offers a comprehensive update on the market, practical tips for navigating it, and a curated list of exciting events happening in Edmonton during the week of July 6-12.

What Are the 5 Hidden Costs of Buying a Home in Alberta

1. Closing Costs

   Closing costs include lawyers, property registration, property tax adjustments, title insurance if not included in the purchase and if applicable, mortgage insurance. These costs can add up quickly and get above even $10,000.

2. Inspections

   Inspections are highly recommended for all buyers although when purchasing an apartment condominium it is less common. A traditional inspection will cost roughly $500.00 however if you are purchasing an acreage and require a water and septic inspection it will range between $1,000-3,000 depending on a variety of factors such as location, company, or type of equipment being inspected

3. Condo Document Review

   If you are purchasing a condo, it is crucial to have this done. While some people do it themselves it is hgihly recomended to hire a professional who know all the things to look for. This is done to look over the condo boards financials, plans, bylaws, and any additional information needed to protect you from being surprised when you take possession. Typically a condo document review will cost around $600.00.

4. Moving Costs

   People often underestimate the cost and time of moving. If you haven't done it before or you have been living in one home for a while collecting clothes, toys, or adding people to your family you may not know what is ahead. Costs will vary based on how far you are moving, how much stuff you are moving, and potentially even the time of year. Make sure to contact a moving company before you move to budget how much you need to spend or work with me and receive a free moving truck!

5. Immediate Repairs and Setups

   When you purchase a home there may be things that the inspection brings up or that you notice when you take possession that you may want to address right away such as paint, doors, locks, or replacing filters and fixtures. It is good to have money saved away for things like that so you are not surprised when it happens.

When you work with me you gain access to resources and knowledge that many people don't even think about. If you are interested in learning more about some of the other costs or a more in depth explaination on these costs check out my buyer resources page!

Edmonton Real Estate Market Update

School is out, the sun is shining, and we have reached the halfway mark of 2026! Overall, the market has slowed down since this time last year but it remains a great market for those looking to take advantage.

With international uncertainty many buyers remain on the sidelines waiting for the tables to turn but as a buyer it is important to be informed of the past and the present. In the past when we have seen uncertainty those who took the risks were rewarded and those who waited ended up it circumstances with multiple offers.

• Home Prices: The average home price is $484,000 whereas the median home price sits at $453,000. As for detached homes, they are selling for an average $593,000 and $535,000 median price. All of these numbers are down month/month but are up year/year.

• Inventory Levels: Inventory levels are stable for the greater Edmonton area sitting at 8,072 or 2.9 months of inventory. This gives buyers a great opportunity to have options and also gives sellers a decent chance to stand out.

• Interest Rates: The Bank of Canada interest rate sits at 2.25% while banks are offering 5 year fixed rate mortgages between 4.5-5%.

• Market Trends: The market remains steady and with the uncertainty surrounding international politics and the Canadian economy it is difficult to tell where it will go. As of right now I am comfortbale to say the market will remain steady.

  
  

For sellers, pricing your home competitively and ensuring it is well-presented remain key to attracting offers quickly. For buyers, being pre-approved for a mortgage and acting swiftly when a desirable property hits the market can make a big difference.

Check out more market information here!

What’s Happening in Edmonton This Week

Edmonton’s calendar is packed with events that showcase the city’s culture, creativity, and community spirit. Here are some of the key happenings from June 29 to July 5:

1. Calgary Stampede (July 3-12)

Head down to Calgary to enjoy the music, festivals, pancake breakfasts, rodeo and more!

2. Edmonton International Street Performers Festival (July 3 – July 12)

Head to Sir Winston Churchill Square for world-class buskers, acrobats, musicians, and family entertainment.

3. Grindstone Comedy Festival (July 2 – July 12)

Catch top local and national stand-up and improv performers at the Grindstone Theatre.

4. Edmonton Riverhawks (July 10 - July 12)

Catch West Coast League collegiate summer baseball against the Marion Berries at RE/MAX Field from July 10 to 12.

AC Galo Corner

Blake Reimer Real Estate is proud to announce that they have partnered with AC Galo Soccer team here in Edmonton.

Last weeks game was unfortunately cancelled due to bad field conditions.

This Weeks Game Details:  

• Date: July 9, 2026

• Time: 8:15 PM

• Location: Coronation Park Field 1

  
  

Come out and enjoy the game!

Edmonton’s real estate market offers opportunities for both buyers and sellers this summer, supported by a community rich in events and activities. Whether you are planning to move or just want to enjoy what the city has to offer, staying informed and prepared will help you make the most of this season.