Hot take: buying a pre-sale condo vs. a 20 year old bungalow in Edmonton

I used to think new builds were always the way to go. Back in 2019 I put a deposit on a condo in Oliver Square, thought I was set. But after a friend bought a 1970s bungalow in Capilano for $280k and only spent $15k on updates, I started wondering. My pre-sale got delayed 8 months and the final costs went up. Now I'm leaning toward older homes with character and bigger lots. Which side are you on for Edmonton's market right now?

2 comments

2 Comments

cole_davis4720d agoMost Upvoted

Wait hold on, you said your friend spent only $15k on updates for a 1970s bungalow and it turned out good? That's crazy to me. I know someone who bought a similar age house in Forest Heights and ended up dropping like $40k just on plumbing and electrical before they could even move in. Maybe your friend got lucky or did all the work themselves. But yeah I'm with you on the bigger lots and character part, those new infills look cramped and the lots are tiny.

gavin_kim320d ago

$40k just to turn on the faucet. What a steal.