Finding the right-size home

Whether downsizing or upsizing a home, finding the right-size home is what everyone is looking for. “Right-sizers” isn’t just an industry buzzword, it is what all new homebuyers strive to be.

Finding a home that fits your lifestyle needs is important, but finding one that fits the budget is just as critical, if not more so. After all, no one wants to be house-poor, meaning having a home that you can’t afford.

The Canada Mortgage and Housing Corporation (CMHC) says mortgage professionals use two rules to decide how much they’ll lend you. First, your housing costs shouldn’t be more than 32 per cent of your gross income. Housing costs include mortgage principal and interest, taxes, heating expenses and half of your condo fees. Second, your total debt (for housing, cars, and credit cards) shouldn’t be more than 40 per cent of your gross income.

Fortunately, Edmonton’s new homebuilders work with their customers in offering all home types that can fit their various financial and lifestyle needs. A townhome, for example, can have as many as five bedrooms to fit households with extended families and limited budgets. We spoke with a few homebuilders to find out how they can help the “right-sizer.”

Excel Homes

After more than three decades in the business, Excel Homes knows how to find the right-sizer the right home.

Marketing Manager, Kristina Plank, says it’s important to consider the family’s lifestyle and what matters most to them. “Think about where you are now – what works well, what doesn’t?

In recent years, our homes have become so much more than just a place to live. They have become home offices, homeschools, the gym, the entertainment, and so much more. Think about how you live in your home and what suits your lifestyle.”
When trying to decide on a new home, it would be a good idea to visit a showhome and talk to the sales staff who can guide you in what would work best, she adds.

“Our sales team will guide you through the home-buying journey. They will help you narrow down your top priorities and find a home plan that suits you best. The process can be daunting, but we are here to help, every step of the way.”

Excel Homes offers front-drive, laned, and duplex homes in Edmonton in every style that the right-sizer needs. Excel is particularly excited about their laned homes that come with many options to customize floorplans to suit the buyers’ needs.
“We have three laned home models ranging from 1,387 to 1,636 square-feet,” Plank says. Their Sienna showhome in Vita Crystallina showcases the main floor primary bedroom with full bath and even a bonus room upstairs. It’s the perfect move-up home for the right-sizing multi-generational family.

“Multi-generational living is absolutely something to consider – will you need a space for aging parents or kids getting older? You may want to consider a third-floor loft or basement suite. “Excel Homes offers laned home in Vita Crystallina and Edgemont.
Duplexes are also worthy of consideration and are available from Excel in the community of The Orchards in the southeast. Excel also has wide ranging selection of 14 models of front-drive garage homes in Vita Crystallina, Edgemont, Keswick Landing and The Orchards.

“We also have a few last opportunities to own in Citadel and Cavanagh. You can tour through our front garage show home, the Lakeview in the north community of Edgemont.”

Plank says The Lakeview is a special commemorative 35th anniversary model that was just released this year. It is a 1,930 sq ft., 3-bedroom, 2.5-bathroom, front drive garage home that is so versatile with a flex room that can be converted into a bedroom, or a basement that can be converted into a suite.

Find out more at excelhomes.ca.