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Edmonton 0% Down Home Buying Program

Keylo — Mon, 22 Sep 2025 19:45:50 +0000

The Complete Guide to Buying a Home in Edmonton With 0% Down

By Ryan Mracek — Realtor & Broker, Keylo.ca · Founder, BuyMyHomie.com

Edmonton rents jumped ~17% in 2024. If you’re renting a 2-bedroom, you might be paying $1,500–$1,800/mo.
For a similar monthly budget, you could own a condo — even if you don’t have a 5% down payment saved.
This guide explains how our 0% Down Program works, the real catches, and a live local example.

How the 0% Down Program Works (plain English)

Short version: we provide the down payment. You own the home from day one. The down payment is converted into an option recorded on title so we share market upside — you keep all the monthly equity you build.

We provide up to 5% down at closing.
Your name goes on title — you’re the homeowner from day one.
We hold an option to capture a share of future upside instead of a conventional payback.
Your mortgage payments build equity, just like any other owner.

This is not rent-to-own. It’s not a predatory flex-down scheme. You’re the owner. We just structure the down payment differently so you can buy now instead of saving for years.

See what you can afford in 3 seconds (just input your rent in our affordability calculator) →

Real Edmonton homes — not rent-to-own composites

Two claim-safe examples under Keylo’s 0% down program framing: a York multi-level listing at $219,999, and the original downtown condo at $195K. Eligibility and monthly carry depend on qualification — run the calculator before you assume numbers.

York multi-level $219,999 · 3 bd Downtown condo $195K · 2 bd

209 Village On The Green NW — $219,999 · MLS® E4498143 · York (near Londonderry Mall)
View live photos & 3D tour on BuyMyHomie →

Featured · Townhouse-style

Case Study — A Real $219,999 Multi-Level Home

209 Village On The Green NW, Edmonton, AB
3 bed / 1 bath — MLS® E4498143 — York (near Londonderry Mall)

This is a real active listing, not a composite. Multi-level, townhouse-style living: rooms upstairs, bonus space below, green space behind the home, and two underground parking stalls. Some listing photos may be virtually staged — always check the live BuyMyHomie page for current photos and price.

Meet Alex (illustrative)

Alex rents a 3-bedroom place in Edmonton and has little saved for a down payment. They’re tired of rent climbing and want to know if owning could work — without a rent-to-own scheme.

For qualified buyers, Keylo’s 0% down program supplies the 5% down so you can go on title and build equity. Eligibility depends on income, credit, lender, and the property — we do not claim this specific home works for every buyer until you’re qualified.

Rent vs. own (illustrative — run your numbers)

Asking rent ≠ achieved rent. City-wide Edmonton panel — not York-specific. Not an offer to rent this home. Buy column uses calculator-only until founder approves payment math.

Renting (illustrative)	Owning with 0% down (qualified buyers)
Damage deposit (typical): ~1 month rent	Down payment at closing: $0 — program supplies 5% for qualified buyers
Monthly rent + insurance: $2,200–$2,475/mo City-wide asking rent, 3-bed houses (mid ~$2,300)	Monthly carry: Depends on rate, tax, insurance & fees Run calculator →
Condo / strata fee: N/A (rental)	Condo / HOA fee: See listing — amount not verified
Equity built (5 years): $0	Equity built (5 years): Builds with each payment — Run calculator →
Equity built (25 years): $0	Equity built (25 years): Depends on appreciation & paydown — Run calculator →
Rent increases: asking rents tend to rise over time	Fixed-rate mortgage: payment stable; equity grows over time

See what you could afford in 3 seconds → Open 209 listing

Example note: Real homes vary. List price, fees, and program eligibility vary. This is not a mortgage approval or an offer to lend.

Original condo example — kept for comparison

2 bed / 2 bath condo — list price $195,000

Original example · Condo

Case Study — A Real $195,000 Downtown Condo

Address: #104, 10046 110 St, Edmonton, AB

Meet Sarah (example)

Sarah rents a comparable 2-bedroom downtown for about $2,075/month (illustrative city-wide asking-rent estimate for 2-bed condos — not this unit’s rent). She has no down payment saved, and every year her rent climbs.
With the 0% Down Program she qualifies for a mortgage, we supply the 5% down, and she moves in as the owner.

Asking-rent estimate $2,025–$2,275/mo · n=30 · as of 2026-07-16 — not achieved rent.

Quick numbers (illustrative)

Renting today: $2,075 / month → $24,900 / year (gone and rents increase each year).
Buying with 0% down: ~$1,336 / month — similar or slightly less monthly cost (landlords need a profit margin)
After 5 years: Sarah has roughly $25k–$30k in equity instead of throwing money away on rent.

Run your rent on the calculator →

Example note: We select real homes to show that each home is unique. In this case, the condo price is lower, but the fees are higher. There is no landlord profit margin.

Rent Total: $2040	Buy Total: $2100 @ 4% OAC
Damage Deposit $2000	Down Payment $0000
Rent/Insurance: $2040	Mortgage/Ins/Tax/CMHC/Legal: $1336
Condo Fee: $0000	Condo Fee: $789
Equity Built 5 Years: $0000	Equity Built 5 Years: $27,279
Equity Built 25 Years: $0000	Equity Built 25 Years: $195,000
Rent Increase Per Year: 3%	Rent – Buy 25 Year Savings: $175,590

Who Qualifies (and who this isn’t for)

This program helps people who can qualify for a standard mortgage but don’t have the down payment saved. It is not a handout.
Typical requirements:

Mortgage approval with a Tier 1 or Tier 2 lender (we vet and coach you through underwriting).
Credit score normally 650+ (each file is unique — bring documentation).
Stable income (we’ve helped hourly workers, immigrants, and business owners).

Won’t work if: recent bankruptcies, no income, or zero credit history. If you don’t qualify right now, we’ll help you get there.

Check qualification now

The Catch — and why it’s fair

Instead of repaying the down payment loan directly, the structure uses an option recorded on title.
If prices rise, the buy-back cost includes the original loan + appreciation (example: original 5% + 5% appreciation = ~10%).
If prices fall, you don’t owe us extra — the downside is on our side.

You can buy back part or all of the option once a year at market value, and you keep all value from any renovations you make. The only real trade-off is sharing upside, which is upside you didn’t have as a renter.

Rent vs Buy — Edmonton (2025 snapshot)

Renting a Home: ~$2,500+
Value of that rental: $450,000
Monthly payment difference: often only a small gap, depending on condo fees, taxes, and current mortgage rates

Just 4 steps to calculate what you can afford and look at homes: BuyMyHomie affordability calculator.

Edmonton, St. Albert, Sherwood Park. Any neighbourhood where these deals make sense.

Why this is NOT rent-to-own

Most rent-to-own setups profit when buyers fail. They often never let the tenant truly own the home, and I honestly hate them. This program was born out of H.O.M.E Home Ownership Mentoring Experts, a not-for-profit in real estate. We realized that a for-profit model can help people actually buy a home today! With this program:

You are on title from the start.
Your monthly payments build equity.
If you sell, you keep your share; if you move, you keep your built equity.

Quick Video: How 0% Down Works

More Guides:

- Is Rent To Own A Scam?

FAQ — quick answers

Is 0% down really legal in Canada?

Yes — in our structure, the down payment is provided and converted into an option. This is compliant with lender & provincial rules when done correctly.

Can I renovate the house?

Yes. You own the home. Normal renovations are fine — you keep the value from improvements you make above maintenance.

What if the market drops?

You don’t owe us additional money. The downside risk is on our side.

Can I refinance or take a HELOC?

Not while the option is in place — the option is recorded on title. If you buy it out, you can refinance normally.

Do I need to pay off the down payment?

If you are living in the home, you don’t have to pay off the option. If you move, sell, or die, then yes, the option needs to be purchased from the proceeds of the sale.

Can I buy it back?

Yes, once a year, you can buy some or all of it back at the current market rate. We suggest you use the First Time Homebuyers Savings Account and use the first year tax savings to buy back a portion of the first year.

Can I use this for investment properties or a second home?

No, at this time the program only works with 5% down payments where it’s your primary residence and you actively live in the home. In the future we will expand to uninsured or investment properties.

Ready to see if you qualify?

I’m a local Edmonton realtor and broker — I’ll help you whether you use the program or not. If you need the backstop.
This program removes the biggest barrier: the down payment.

See what you can afford in 3 seconds (just input your rent in our affordability calculator) →

Disclosure: The program requires mortgage approval. Terms, eligibility, and costs vary. All numbers in this guide are illustrative — contact us for a personal assessment. Keylo.ca is a real estate brokerage and does not supply the funds (we help buy or sell).

The post Edmonton 0% Down Home Buying Program appeared first on Keylo.ca.

New Homes & Homebuilders in Edmonton – A Buyer’s Guide

Keylo — Thu, 15 May 2025 22:53:26 +0000

New Homes & Homebuilders in Edmonton — A Buyer’s Guide

If you are shopping new homes in Edmonton, you are usually choosing between a handful of large builders, a few boutique names, and the resale market in the same neighbourhoods. This guide walks through how builder contracts differ from resale offers, what to verify before you sign, and where Keylo can help you compare options without the hype.

How new homes in Edmonton are different from resale

With a builder you are buying a product and a timeline — not just a finished house. Possession dates move, finish packages change, and the purchase agreement has its own conditions. Resale deals lean on inspection, financing, and standard Alberta real-estate conditions. Many buyers start with new builds for warranties and customization, then keep resale on the list when timelines or pricing do not line up.

Start with our Edmonton home buyers hub if you want a plain-language overview of financing, showings, and what to expect before you tour models.

Major Edmonton homebuilders (and what to ask each one)

Edmonton and area have dozens of builders. These names come up often with buyers we work with — always confirm current communities and inventory on the builder’s own site:

Qualico family (StreetSide, Pacesetter, Landmark, Sterling) — townhomes through detached; ask about possession dates and what is included in the base price.
Coventry Homes — single-family in several suburban communities; compare upgrade credits vs. list price.
Jayman, Kanvi, Homes by Avi, Landmark, Shane Homes — overlapping footprints; model hours and spec-home inventory change weekly.

External reference: RECA’s consumer guide to working with real-estate professionals in Alberta explains who is licensed to represent you and what to expect from representation.

Warranties, deposits, and timelines

New-home warranties in Alberta are governed by mandatory programs for most builders. Still read the fine print on deposits, change orders, and delay clauses. A longer build can overlap with lease ends or rate holds — build slack into your plan. If you are also comparing resale, read what condition periods mean on an offer so you know how builder deposits differ from resale conditions.

Compare new builds with resale and off-market data

MLS shows active listings; it does not always surface recent builder spec changes or homes that sold before wide marketing. Our pending and sold data guide explains why sold comparables matter when you are negotiating with a builder or weighing a quick-possession home against resale.

You can also browse active Edmonton inventory on BuyMyHomie — filter by year built when you want to see newer homes alongside resale in the same areas. It is a search tool, not a promise of availability on any specific lot.

Neighbourhood fit before you pick a floor plan

Model homes are staged to sell the plan, not the commute. Drive the route at rush hour, check school boundaries, and note future development on the City’s maps. Our what Edmonton buyers should look for checklist covers red flags that matter for new communities and established areas alike.

Working with Keylo on a new-home purchase

Keylo is an Edmonton brokerage that helps buyers compare builder contracts, resale alternatives, and showings in one workflow. We do not manufacture inventory — we help you interpret what is on the market, book tours, and line up financing questions with your lender. Visit the buyers page to see how we work, or reach out when you want a second set of eyes on a purchase agreement.

Browse newer Edmonton homes alongside resale — filter by year built when you are comparing new homes Edmonton builders advertise as quick possession.

Next steps

Short list two or three builders and one resale neighbourhood. Request written quotes that include GST, lot premiums, and possession date. Then compare against recent sold data in the same area before you commit a deposit. When you want help lining up showings or reading a builder contract, start on our buyers page.

The post New Homes & Homebuilders in Edmonton – A Buyer’s Guide appeared first on Keylo.ca.

What You Don’t See Can Hurt You

Keylo — Tue, 06 May 2025 03:34:31 +0000

Most buyers and sellers only see half the picture — and it’s costing them.

At BuyMyHomie.com, we believe transparency makes you smarter. Whether you’re house hunting or thinking of selling, here’s why seeing the whole story — including pending and sold data — changes the game.

What does "Pending" mean?

When a home goes pending, the seller has accepted an offer, but conditions (like financing or inspection) still need to be met. It’s not officially sold — but it’s off the market.

Most real estate sites don’t show pending status. The home looks available, even though it isn’t. This confuses buyers and wastes everyone’s time.

At BuyMyHomie.com, we show when a home is pending, so buyers can stop chasing listings that are already spoken for.

Why List Prices Are Misleading

Here’s a common mistake: assuming a home’s list price equals its market value.

It doesn’t.

The truth is:

In slower markets, homes sell for about 96% of list on average
In hotter markets, it creeps up to 98-99%
BUT many homes don’t sell at all. They get relisted, expire, or go through multiple price drops.

So what do you really need to know? Sold prices.
That’s the only number that reflects what buyers are actually paying in your neighborhood.

At BuyMyHomie.com, signed-in users can see sold prices and comparables to help them understand what’s actually going on in the market — not just what sellers are hoping for.

Why Sold Data Matters for Sellers

Thinking about listing your home?

The first thing a good agent does is pull sold data — to create a Comparative Market Analysis (CMA). That helps you set a realistic price that reflects the current market, not just your ideal number.

But you don’t have to wait for an agent to do that.
Use BuyMyHomie’s Neighborhood Watch to look up what homes have sold for near you.
Or input some basic info about your home here: buymyhomie.com/myHouse/property — and we’ll show you similar sold properties so you can get a rough estimate of value, instantly.

So Why Don't Big Sites Show This?

A few do — if you sign in. But most don’t, especially the largest platforms.
Why? The MLS systems that store the data are private, and Canadian Realtors have strict rules on how this data can be displayed.

A landmark court decision made it clear: sold data isn’t inherently private, but the platforms that host it are.

That’s why we built BuyMyHomie.com to work within the rules — while giving buyers and sellers far more visibility than the standard search sites.

We’re currently focused on the Greater Edmonton Area, but sold and pending data for the rest of Canada is coming soon.

You save money on upkeep costs when you downsize but you also MAKE more money.

TL;DR

Pending means a deal is underway — but most platforms don’t tell you
Sold ≠ List — and in slower markets, that gap can be thousands of dollars
BuyMyHomie.com shows you both, plus lets buyers swipe and sellers see sold comparables
You could buy or sell on your own — we’ll even help — but working with the right Realtor is still your best move

Want to see the data for your home or your search area? Try BuyMyHomie.com.

The post What You Don’t See Can Hurt You appeared first on Keylo.ca.

Buying-and-Renovating

Keylo — Thu, 01 May 2025 07:06:47 +0000

How To Renovate It Yourself or Hire It Out When Buying?

Buying a home that needs work can be a smart move—or a stressful misstep—depending on how well you plan. Whether you’re a hands-on fixer or want the place done right before moving in, the key question is:

Should you take on the renovation yourself, or hire it out to the pros?

Ryan’s Renovation Matrix

This decision matrix helps you quickly see how hands-on you should be based on skills, goals, and budget.

Renovation Size	Skill Level	Recommended Approach
2% of Purchase Price	Beginner	DIY (paint, flooring, minor updates)
5% of Purchase Price	Some Experience	DIY with trade support
10% or More	Advanced / Contractor	Hire out or treat as a flip

Rule of thumb: Renovations over 10% of purchase price are like flipping a home—for yourself. Plan accordingly.

Scenario 1: Renovate Before You Move In

Do all the work while the home is empty, then move in—cleaner and faster if planned well.

Checklist

Talk to your mortgage broker before you shop.
Confirm purchase-plus-improvement or construction loan options.
Ensure you meet the 5% downpayment and LTV requirements.
Request detailed contractor quotes during the conditional period.
Verify contractor start date aligns with closing.
Allow 15–25% contingency in your budget.
Set a realistic move-in target with 1–2 months buffer.
Make major layout and finish selections early.

Scenario 2: Renovate After You Move In

Live in the home and renovate in stages—more flexible but slower and messier.

Checklist

Discuss renovation plans with your broker before closing.
Plan for a renovation mortgage or HELOC post-equity build.
Prioritize rooms and schedule work in phases.
Obtain multiple detailed contractor quotes.
Prepare for dust, noise, and limited space.
Decide on DIY vs pro tasks per phase.
Agree on payment draws and lien waiver schedule.
Reevaluate scope and budget after each phase.

Deep Dive: Questions to Ask

Questions for Your Mortgage Broker

Can I use a Purchase Plus Improvements mortgage? What’s the maximum LTV?
Is a staged draw construction loan better for my scope?
How are draws released, and are any holdbacks required per provincial lien laws?
What downpayment do I need, and what timelines apply (e.g., 90–120 days to complete)?
What documentation (quotes, permits, plans) must be submitted before closing?
How do I get holdback funds released after final inspection or appraisal?
Are there provincial rebates or warranty requirements for my renovation type?

Questions for Your Contractor

Do you carry full licensing, insurance, and WSIB coverage? Can I see certificates?
What’s your availability, and can you meet my conditional-period quote deadline?
Can you provide a detailed, itemized quote and contract with milestone draws?
Will you manage permits, inspections, and code compliance?
What payment schedule and lien waiver process do you require?
Can you share references and examples of similar completed projects?
How will you handle dust control, daily cleanup, and living arrangements?
What warranty and after-service support do you offer upon completion?

Note: Specific requirements can vary by province, especially for permits and lien holdbacks. Always double-check local building codes and financing rules in your area.

Detailed Timeline & Cost Summary

Below is a quick-reference matrix for 20 common renovation types in Edmonton, AB. See the detailed descriptions that follow for more context.

Project	Timeline	Cost (Contractor)	Cost (DIY)	Permits?	Estimated ROI
Kitchen Remodel	2–24 weeks	$15K–$45K	$10.5K–$42.5K	Yes (layout/plumbing)	50–80%
Bathroom Upgrade	4–8 weeks	$8K–$20K	$1K–$5K	Yes	70%
Basement Dev.	2–12+ weeks	$35–$150+/ft²	20–30% savings	Yes	70%
Interior/Exterior Paint	1–14 days	$2K–$6K	$100–$300	No	60%+
Flooring	1–14 days	$2–$15/ft²	30–50% savings	No	70%+
Roof Replacement	1–2 weeks	$7K–$12K	Materials only	No	70%
HVAC Update	1–3 days	$6K–$12K	N/A	Yes	50%+
Window & Door	1–5 days	$500–$2500/window	$400–$1500/window	No	75–80%
Siding	1–2 weeks	$5K–$15K+	Modest DIY	No	70–80%
Insulation	1–3 days	$1K–$3K	$200–$500	No	70–90%
Deck (Open)	1–2 weeks	$3K–$12K	$1K–$6K	Usually	50–70%
Deck (Enclosed)	3–6 weeks	$10K–$30K	N/A	Yes	50–60%
Landscaping	Days–weeks	$1K–$20K+	$500–$5K	No	100%+
Fencing	3–7 days	$20–$50/ft	$10–$25/ft	No	50–60%
Detached Garage	4–8 weeks	$20K–$60K	N/A	Yes	60–80%
Garage Suite	3–6 months	$50K–$100K+	N/A	Yes	70–100%
Home Extension	3–6+ months	$150–$300/ft²	N/A	Yes	50–70%
Driveway/Pad	1–2 weeks	$2.5K–$10K	N/A	Development	50–70%
Plumbing Update	1 day–1 week	$200–$10K	N/A	Yes	N/A
Electrical Panel	1 day	$1.5K–$3K	N/A	Yes	N/A
Energy Retrofits	Days–weeks	Varies	Varies	Yes*	70–90%+

Critical Path Timeline Overview

Every renovation project follows a critical path—key milestones that must happen in sequence to stay on schedule. Below is the high-level flow for an Edmonton home renovation:

Home Search & Offer: Identify properties and submit offers. Track acceptance date (Day 0).
Inspections & Financing Conditional Period (Days 1–14): Conduct home and contractor inspections simultaneously; gather initial quotes. Secure renovation financing approval from your mortgage broker.
Waive Conditions & Close (Days 14–60): Finalize financing, remove conditions, and set possession date (typically 30–60 days post-offer).
Detailed Planning & Permits (Days 0–14 Post-Possession): Finalize designs and budgets immediately after possession. Submit permit applications—Edmonton issues simple permits in ~1–2 weeks.
Order Long-Lead Items (Weeks 1–6): Place orders for custom cabinetry, windows, appliances—these often take 2–6 weeks to arrive.
Demolition & Rough-In (Weeks 2–6): Remove old materials, then complete rough framing, plumbing, electrical, and HVAC. Schedule mid-project inspections.
Finish Work (Weeks 6–12): Install drywall, flooring, fixtures, trim, and final finishes. Precision work happens here—painting, tiling, cabinetry installation.
Final Inspections & Punch List (Weeks 12–14): Arrange city inspections to close permits. Contractor addresses any minor fixes.
Move-In & Follow-Up (Week 14+): Return furniture and décor. Conduct a warranty check at 30 and 90 days post-completion to ensure everything settles well.

Project Details & Tips

Kitchen Remodel

Full gut renovations can take 12–24 weeks from permit to finish; minor refreshes (cabinets/counters) often wrap in 2–6 weeks. Permits apply whenever you move walls, run new plumbing, or alter electrical. DIY saves 15–30% on labor but requires skill and time. Examples:

Refreshing cabinets with paint and hardware (no permit) in 3–4 weeks costs ~$12K (contractor) vs. ~$4K (materials DIY).
Reconfiguring layout—moving sink and installing an island—requires plumbing and electrical permits, ~16 weeks, \$30K–\$45K.
Adding built-in pantry and quartz surfaces: 10–14 weeks, \$20K–\$35K (contractor), yields ~75% ROI.

Bathroom Upgrade

Mid-range baths (~\$13.5K average) finish in 4–8 weeks. Full plumbing relocation mandates permits. Examples:

Swapping fixtures and retile shower (no layout change) in 2–3 weeks: \$8K (contractor) vs. \$2K (DIY plumbing/tiling).
Adding a soaker tub and double vanity—requires plumbing permit—6–8 weeks, \$18K–\$22K.
Installing heated tile flooring and custom cabinetry: 8–10 weeks, \$20K–\$28K, ~65% ROI on sale.

Basement Development

Finishing a basement adds valuable living space and often requires egress windows and permits. Typical scope for a 1,000 ft² area:

Basic refresh (paint, flooring, lighting) in 2–4 weeks: \$35–\$60/ft² contractor vs. 20–30% savings DIY.
Adding a 3-piece bathroom and wet bar (permits required) in 6–10 weeks: \$60–\$90/ft², ~70% ROI.
Legal suite conversion (separate entrance, full kitchen) over 12 weeks: \$90–\$150+/ft², rental income potential.

Flooring

Updating floors modernizes a home and can often be done room-by-room. Key examples:

Installing engineered hardwood in main living areas (500 ft²) in 1 week: \$8–\$12/ft² installed vs. \$4–\$6/ft² DIY materials.
Luxury vinyl plank in high-traffic zones in 3–5 days: \$3–\$5/ft² installed; DIY saves ~40% on materials.
Heated ceramic tile in bathrooms/kitchen (150 ft²) in 1–2 weeks: \$10–\$18/ft², elevates comfort and resale appeal.

Window & Door Replacement

New windows and doors improve energy efficiency and curb appeal. Examples:

Vinyl window swap (10 windows) in 3–5 days: \$500–\$2500 each installed vs. \$300–\$1500 DIY.
Front entry door upgrade to insulated fiberglass in 2 days: \$1,500–\$2,500 installed, boosts security and style.
Sliding glass patio door replacement in 1 day: \$2,500–\$4,000 installed, enhances natural light and flow.

Siding Replacement

Refreshing exterior siding revitalizes a home’s look and protection. Typical jobs:

Vinyl to vinyl re-siding (1,500 ft²) in 1–2 weeks: \$5–\$8/ft² installed; minimal permit requirements.
Upgrading to fiber cement board in 2 weeks: \$8–\$12/ft², higher durability and aesthetic value.
Accent stone or brick veneer application (200 ft²) in 1 week: \$15–\$25/ft², focal detail on façade.

Insulation Upgrades

Improving insulation increases comfort and reduces bills. Key examples:

Attic insulation top-up (1,200 ft²) in 1–2 days: \$1,200–\$2,500 installed vs. \$300–\$600 DIY batts.
Spray foam wall insulation in 2–4 days: \$3–\$5/ft², seals drafts and maximizes thermal performance.
Basement rim joist insulation in 1 week: \$2,000–\$4,000 installed, eliminates cold spots and moisture issues.

Open Deck Construction

A backyard deck extends living areas outdoors and typically follows these scenarios:

Pressure-treated wood deck (200 ft²) in 1 week: \$30–\$45/ft² installed vs. \$15–\$25/ft² DIY materials.
Composite decking option in 1–2 weeks: \$45–\$60/ft², low maintenance, ~60% ROI.
Custom built-in seating and planters add \$1,500–\$3,000 in 3–4 days to project cost, enhances functionality.

Detached Garage Build

Building a garage adds storage and parking. Phases include foundation, framing, and finish:

Single-car garage (12×20 ft) in 4–6 weeks: \$20K–\$30K, basic shell only; permit and site prep add \$2K–\$5K.
Two-car garage (24×24 ft) in 6–8 weeks: \$35K–\$60K, includes insulation and basic electrical.
Insulated & heated garage option adds \$5K–\$10K and 1–2 weeks, improves usability year-round.

Looking for buying and renovating edmonton? Browse our Edmonton home buyers hub or try the free affordability calculator.

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Unlocking the Future of Real Estate: The Power of Virtual Staging

Keylo — Wed, 21 Feb 2024 04:24:58 +0000

As the leading Edmonton Technology Real Estate Brokerage, Keylo is committed to revolutionizing the way you experience home buying. In our quest to blend innovation with personalized service, we proudly introduce Free Virtual Staging—a game-changer that transcends traditional boundaries. Don’t worry. If your home is already listed with another Realtor or even for sale by owner. We’ll likely help you out too, FOR FREE *(based on availability and demand).

What is Virtual Staging?

Virtual staging is like a magic wand for empty spaces. Imagine a blank canvas—a room devoid of furniture, warmth, and character. Now, with a few clicks, our expert designers transform that void into a captivating, fully furnished home. How? By adding virtually designed furniture, decor, and ambiance to listing photos.

Why Virtual Staging Matter

Top 3 Reasons Virtual Staging Matters

Cost-Effective (We literally do it for free):
Speed
Visual Appeal

Physical staging can be pricey-$1500 to $2500 for an average home. Virtual staging can be done in lighting fast. Buyers for first impressions online. Virtual staging has come a long way in the last two years and really stands out (you only get one chance for a first impression).

Why Do We Offer Free Virtual Staging?

Empowering Sellers- Every home deserves its best shot. Let’s empower you to showcase your homes true value.
Supporting Realtors- It’s not good enough to only support our own REALTORS®, we want to improve the industry
We get free things back- Follow us on Instagram, traffic to BuyMyHomie.com, ours signs on your lawn.

About Us:

BuyMyHomie.com has an AI that matches you to homes. It’s known as the Tinder of Real Estate. We keep expanding that AI knowledge out to products and services that help buyers buy and sellers sell. We don’t charge our agents any monthly or transactions fees because we want them to put all that time, money and effort into you. So we need to walk the walk and do the same. Contact us to see how good the staged pictures on BuyMyHomie.com really are.

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Rent To Own

Keylo — Tue, 30 Jan 2024 03:54:52 +0000

Rent To Own: Scam or Real?

Rent-to-own is a type of agreement that allows a potential buyer to rent a property for a certain period of time, with the option to purchase it at the end of the term. While this may sound like a convenient way to achieve homeownership, it is often fraught with risks and pitfalls that can cost you a lot of money and frustration. Here are some reasons why rent-to-own takes advantage of you and how to avoid falling for it.

Reason 1: You pay more than the market value

One of the biggest drawbacks of rent-to-own is that you end up paying more than the market value of the property. This is because the rent-to-own contract usually includes a higher monthly rent, a nonrefundable option fee, and a premium price for the home. The monthly rent is typically 10% to 15% above the market rate, and a portion of it goes toward the purchase price of the home. The option fee is a lump sum that you pay upfront to secure the right to buy the home later, and it is usually 3% to 5% of the home’s value. The premium price is the agreed-upon purchase price of the home, which is often inflated to account for the appreciation of the property over time.

All these extra costs add up to a significant amount of money that you could have saved or invested elsewhere. For example, if you rent-to-own a home worth $300,000 for three years, you may end up paying $36,000 in option fees, $54,000 in rent credits, and $330,000 in purchase price, for a total of $420,000. That is $120,000 more than the original value of the home, and it does not include interest, taxes, insurance, or maintenance costs.

Reason 2: You have no ownership rights or protections

Another reason why rent-to-own is a scam is that you have no ownership rights or protections until you buy the home. This means that you are still a tenant, not a homeowner, and you are subject to the landlord’s rules and regulations. You are also responsible for paying rent on time, maintaining the property, and complying with the terms of the lease. If you fail to do any of these things, you may lose your option to buy the home and forfeit all the money you have paid toward it.

Furthermore, you have no control over what happens to the property or the landlord during the rental period. The landlord may decide to sell the home to someone else, default on the mortgage, or face foreclosure. The home may also suffer from damage, depreciation, or legal issues that affect its value or title. In any of these scenarios, you may end up losing your chance to buy the home or having to deal with a lot of hassle and uncertainty.

Reason 3: You may not qualify for a mortgage at the end of the term

The final reason why rent-to-own is a scam is that you may not qualify for a mortgage at the end of the term. Rent-to-own contracts usually last for one to three years, during which you are supposed to improve your credit score, save for a down payment, and secure a mortgage. However, this may not be as easy as it sounds, especially if you are paying a high rent and have other financial obligations. You may also face challenges in finding a lender who is willing to finance a rent-to-own deal, as some lenders may not accept the rent credits as part of the down payment or may require a higher interest rate or stricter underwriting standards.

If you are unable to get a mortgage at the end of the term, you have two options: either extend the contract or walk away from the deal. Extending the contract may mean paying more fees, rent, and purchase price, and it may not guarantee that you will qualify for a mortgage later. Walking away from the deal may mean losing all the money you have paid toward the home and having to start over from scratch.

Not sure rent-to-own is right for you? Many Edmonton renters qualify for a standard mortgage with 0% down through Keylo — you own from day one; it is not rent-to-own.

See how Edmonton 0% down works → | Run affordability calculator →

Reason 4: There is another way

Instead of having the option to buy a home in years. Simply buy the home now, usually with a smaller down payment then rent to own. It’s a special program we like to call

XRent. Learn more

How to avoid rent-to-own scams

Rent-to-own is not a scam in itself, but it is a risky and complicated way to buy a home. Therefore, you should be very careful and cautious before entering into such an agreement. Here are some tips on how to avoid rent-to-own scams and protect yourself:

Do your research. Before you sign anything, make sure you understand the terms and conditions of the contract, the market value and condition of the home, and the reputation and background of the landlord. You should also consult with a real estate agent, a lawyer, and a financial advisor to get professional advice and guidance.
Do your due diligence. Before you move in, inspect the home thoroughly, get a home appraisal and a title search, and verify the landlord’s ownership and mortgage status. You should also check the zoning, taxes, insurance, and HOA fees of the property, and make sure there are no liens, encumbrances, or legal issues that could affect the sale.
Do your homework. During the rental period, work on improving your credit score, saving for a down payment, and getting pre-approved for a mortgage. You should also keep track of your rent payments and receipts, and maintain the home in good condition. You should also monitor the market trends and the home’s value, and be prepared to negotiate or cancel the deal if necessary.

Conclusion

Rent-to-own may seem like a convenient and affordable way to achieve homeownership, but it is often a scam that can cost you a lot of money and trouble. Rent-to-own contracts usually involve paying more than the market value of the home, having no ownership rights or protections, and not qualifying for a mortgage at the end of the term. To avoid rent-to-own scams, you should do your research, due diligence, and homework at BuyMyHomie.com before and during the rental period, and seek professional help and advice. Alternatively, you may want to consider other options, such as saving for a down payment, applying for a low-down-payment mortgage, or buying a cheaper home.

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Mortgages 101 in Alberta

Keylo — Tue, 07 Nov 2023 20:51:26 +0000

Talk to a mortgage broker now. (click on get approved)

Most Common Questions

Broker Vs Bank

Is a bank or broker better? 99% of the time a broker is better. The reason is simple. One bank = one product. A mortgage broker can access 50+ institutions. It’s like getting a personal shopper that does nothing but mortgages all day every day. Even better, it’s usually FREE (the bank pays them). A bank is trying to maximize their profits, a broker is a go between that has no financial interest in making you pay more! The 1% where a bank can be better is specific products like bridge loans, lines of credit, or construction financing if you have a great relationship already.

Paperwork

This resource page has most of the items you’ll need to prepare for a mortgage pre-approval. Resources

Credit Scores

Credit scores matter and they are mostly hidden until you need to buy something. Take back that power by learning more. What is a good score? 700 or above is a good score but don’t worry. Keylo’s not for profit has a program all about improving your score and lowering your interest rates (call and ask us). Start with the basics from the government of Canada HERE.

Pre-Qualified Vs Pre Approval Vs Approval

Let’s be honest. Pre-qualified doesn’t mean much and is based on whatever you say may be true. Consider it a ballpark of what could happen. Did you know a pre-approval doesn’t mean you can go out and buy any home? Pre-Approval means a conditional commitment. The bank will approve a home under certain conditions like an appraisal. Pre-approval can tell you what amount you qualify for and what rate but it doesn’t guarantee any home. This is why you often see a financing condition on offers to purchase a home. That condition let’s you find out if you are actually approved.

What is underwritting?

The bank wants to know how risky you are. In their eyes they want to lend money to people who will always pay them back. Underwriting is when they look at your application and decide if it’s worth it to them to approve or deny you. This also includes approving or denying the property you want to buy. The specific property matters to them because they want their money back in case you default.

If you’re here you are probably at step 1 in your financial timeline. Your timeline in BuyMyHomie.com is how Keylo guides you step by step to buy a home so read this article then check it out (it’s on the left on desktop or bottom left account/timeline on mobile). Did you know, just by reading this post you can earn points?

Mortgages 101

Canadians love real estate and hate talking about anything financial. Can you imagine being at a party and everyone at the table suddenly asked “How much do you make at your job” or “what’s your credit rating”. You’d pretty quickly avoid the topic or leave. This causes a lot of people to skip the pre-approval and start looking at homes. DON”T!!!! Trying to buy a home without a pre-approval is like trying to land a plane and get the flying lessons later. It usually leads to disaster. Buying a home takes a plan and the budget is a key to starting off looking at homes you can afford.

Don’t worry though. Talking to a mortgage broker doesn’t wreck your credit or make you vulnerable. It’s a lot like brushing your teeth. It’s not exciting but it’s necessary and it will ultimately save you money. You don’t have to be ready to buy a home today. In fact, Keylo has a whole not for profit dedicated to solving home affordability and that starts with education and fixing your credit score (ask us).

Want to know your monthly payments? Go to www.BuyMyHomie.com and see what an actual home you like costs per month (fill in the data with some guesses to start).

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What is the GST in Real Estate?

Keylo — Fri, 13 Jan 2023 20:05:55 +0000

***Update March 20 2025: Mark Carney has proposed eliminating GST for first time homebuyers.

Why is GST on real estate in Canada so confusing? At Keylo, we like to simplify, so let’s start with the quick and dirty answers before we delve into the details: When does GST apply? Short answer: GST applies to new or substantially new homes.

Longer answer: GST in personal real estate intends that it only gets applied once. That’s why it applies to the first sale. The government makes it a bit confusing by saying it applies to “builders”. What they mean by that is it applies to point and time where substantial value has been created and sold for profit. It gets a bit more complicated for land/lots sold, and when a residence isn’t personally occupied (especially nightly rentals) or for tax purposes, it’s written off as a business. For anything complicated like that, you should speak with an accountant as a REALTOR® isn’t qualified to answer the details.

Laura Marcato CPA, at Seniuk and Company commented “Having a good Understanding of how GST is applied on the sale of a home can ensure that the home is only taxed once, instead of a potential double taxation situation”.

Ryan Mracek notes the exact moment clients get confused with GST. “When they see a contract is usually the first time they’ve even considered it.”. Getting hit with an extra 5% at the last second is terrible, so let’s break things down into two common scenarios.

Scenario 1:

You are buying a “used” home. This home has been previously owned/occupied. Your REALTOR® is using the standard AREA purchase contract, and in Section 2.2, it states, “The Purchase Price includes any applicable Goods and Service Tax (GST).” AREA already has you covered. They know this is confusing, so they put the contract onus on the seller (who is the party that knows if the home is new or not) that the offer includes GST if it’s applicable. So GST doesn’t matter to you as the buyer.

Scenario 2:

You are buying a newly built home from a developer. Buying a new home is a regular occurrence, but we’ll send a loud warning bell. Developers often have a team of lawyers craft their contracts instead of the standard AREA contracts. This process isn’t wrong. It just means they do things for their benefit, and GST could be one of them, so be clear on which party pays the GST. Now is an excellent spot to recommend a good REALTOR ®; since the seller pays the fee anyway, you should always get someone to represent your interest, not theirs. Keylo can help you personally in Edmonton or refer a great REALTOR® anywhere in Canada. Let’s add in scenario 2.5: In scenario two, it may say something like “NET GST” on the listing or in the REALTOR® notes. So what the heck does that mean? It means the price you see is what you pay.

For any scenario where GST applies, you (the buyer) can get a GST rebate for a portion of the GST back. In the case of the “NET GST” the builder is saying the purchase price includes the GST, but the builder gets the GST rebate too (so it’s Net GST).

Laura Marcato CPA, at Seniuk and Company commented “These situations can be complicated. Ensure you speak to your REALTOR® before finalizing the sale to ensure the GST is handled correctly “.

So now you know GST and real estate. Ask an accountant if you’re selling a home and are unsure. We talked about GST and real estate, but sellers know there is a commission to sell the home. Yes, GST applies to that commission and gets remitted to the government, so there is one more way they get you. Alberta doesn’t have PST/HST or a land transfer tax like other provinces but does have a land registration fee.

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Instructions on how to delete your data.

Keylo — Mon, 09 Jan 2023 21:58:06 +0000

Simply email contact@keylo.ca with the subject “Remove my data”

Looking for delete your data keylo? Browse our Edmonton home buyers hub or try the free affordability calculator.

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Myth or Fact – Real Estate “Urban Legends”

Keylo — Mon, 12 Dec 2022 09:00:00 +0000

No one locks their doors in Churchill, Manitoba

Real Estate Fact

This may sound completely ridiculous or it may be just about the most “Canadian” thing you have ever heard of. Guess what, it is true… but not for the reason you may think. In Churchill, Manitoba, polar bears roam the streets freely. Because of this, residents are encouraged to leave their doors unlocked, providing an easy escape should they encounter a bear.

Canada has real estate on Mars

Real Estate Myth

You may have heard this rumor or others similar to it buzzing around. While it would be pretty cool to say our country’s borders extend all the way to the little red planet in the sky or entertain the idea that you could purchase a vacation property in the stars, this isn’t a current possible reality.

The truth is, the AU has named 1,141 craters on mars after towns and scientists, 30 of which are in Canada. The International Astronomical Union is responsible for naming craters on the red planet using a correlation between size to urban population. Although these given names are not registered or necessarily official, the scientific community recognizes them anyway and it is seen as a great honor. Some prominent craters representing Canada are Gander – named after a town in Newfoundland and Labrador – and Prince Edward Island National Park.

At this point, no country or person can own any piece of land on mars or any other space dwelling. In article II of the outer space treaty, you will read, “Outer space, including the moon and other celestial bodies, is not subject to national appropriation by claim of sovereignty, by means of use or occupation, or by any other means.”

Sears Mail Order Homes

Real Estate Fact

You may have heard the legend of Sears mail-order homes and thought it was too crazy to be real, but it is 100% true. In the early 20th century, Sears & Roebuck offered a large selection of houses to be purchased through a catalog and shipped to your address. It would be received in the form of materials, tools, and instructions so that “Any man of reasonable strength, size, and intelligence can assemble a Sears & Roebuck home.” Sound 75,000 of these kits were purchased and some are even available for resale today!

The pyramids were built by slaves

Real Estate Myth

This misconception has been commonly believed to be true, however it is the biggest myth involving the pyramids of Giza. The rumor is said to have been started by Herodotus – a greek historian that shared stories indicating the use of around 100,000 slaves after he visited the pyramids in 450 BC.

This has been debunked by archaeologists who discovered the bones of cattle, which indicated that the workers on the build were most likely regularly consuming beef. Considering beef was once a delicacy in ancient Egypt, this suggests that the pyramids were most likely constructed by well-fed workers. In addition, there have been tombs discovered next to the pyramids of Giza. Being buried so closed to the resting place of Pharohs was a great honour, something that would never have been allowed for a slave worker. Currently, it is believed that a force of approximately 10,000 skilled laborers built the Great Pyramids.

Bought a home for a paperclip

Real Estate Fact

No one could reasonably fathom that this story could be possible, but it is. Kyle MacDonald, a Canadian blogger, made history with this incredible success. His first trade started with a red paperclip and a fish-shaped pen, which was then traded for a hand-sculpted door knob, and so on. His final deal included trading an acquired role in the film “Donna on Demand” of a two-story farmhouse in Kipling, Saskatchewan.

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