Elmwood Park is a dense residential community in Edmonton which is bounded on the north by the Yellowhead Corridor, to the west by 82 Street, on the south by 122 Avenue, and on the east by Fort Road.

The neighbourhood contains many single detached homes built in the 1940s and 1950s, and multi-family structures – in fact, most of the residential construction happened between the end of World War II and 1970. The population of this area is known for being quite mobile, with many of the residents renting. It can be a good area to scoop up a deal or set up a rental income property.

1. Canadian Tire Magic of Lights: This is a “drive-through” experience from the comfort of your own car at Castrol Raceway with two kilometers of festive and vibrant LED-lighted displays. From November 19, 2021 until January 8, 2022.
2. Downtown Holiday Light Up: Check out the different outdoor light installations designed by local artists across different downtown locations.
3. Zoominescence: A spectacular exhibition of artistic light installations within the unique setting of the Edmonton Valley Zoo.

Heritage Valley is a neighbourhood in the southwest of Edmonton that was established in 2001 through Edmonton City Council's adoption of the Heritage Valley Servicing Concept Design Brief. The design brief included planning for 15 separate areas within the neighbourhood, as well as a transit centre.

The theme of is "Edmontonians of the Century" invoking a sense of the modern city-dweller.

Getting the keys to your new home is an exciting moment – but the work isn’t over yet. There are still some important next steps to take after purchasing your property which include:

1. Set Up Your New Address Everywhere: A lot of people and organizations will need your new address to keep in contact and make sure you receive important mail. Include your bank, car insurance, HR department at your job, driver’s license, tax agencies, any utilities from your previous residence, online shopping sites, subscriptions and clubs, and your personal networks. Don’t forget to set up mail forwarding to make sure you don’t miss anything during the transition period.

2. Insurance: If you followed step one, you’ve already updated the address for your car insurance policy – and this may impact your premiums which can be based on postal code, distance to your work place, and where you park the car, among other factors. You will also need to set up homeowner’s insurance to make sure your big purchase is protected.

3. Schedule Movers: Don’t move on the same day as your possession date, it can be a recipe for disaster. You don’t want to schedule anything that you need to pay for, like a moving service, only to find out that you don’t actually have the keys until hours after your movers showed up. Give yourself a grace period before hauling heavy furniture.

4. Legal documents: Make sure your lawyer reviews all final documents. Get a safe place to store all these documents – including copies of your mortgage, titles, deeds, insurance and will – like a fireproof box.

5. Getting To Know Your New Home: Make sure you know where all the important things are before it’s need such as the main water shut-off valve, the circuit box, the gas shut-off valve, and the security system.

The term “house hacking” was first coined by Brandon Turner, a real estate investor and writer, but the concept has been around much longer than that.

Essentially, house hacking is a strategy where you rent out extra space in your primary residence to offset the expenses of homeownership. That means you purchase a property, live in a part of it and then rent out the rest – that way, your roommates or tenants are paying your mortgage at the same time you are reducing your living expenses and building equity.

Some people do this by purchasing a multi-unit property like a duplex, and living in one unit while renting out the rest. This gives you the advantage of being on hand as a landlord while also offsetting some of your costs. But it can be hard to make the number work to your advantage in higher-price markets, where the rent you charge may not be enough to cover the mortgage.

Other people choose to share communal spaces and rent out rooms; often, it’s possible to charge more rent over all by renting out individual rooms than the entire house.

The “hacking” part of this strategy comes from leveraging that equity and the living expenses that are being saved to purchase a second property and repeat, eventually resulting in owning multiple rental properties.

If you are considering this strategy, there are a few things to keep in mind. Zoning rules and safety guidelines may impact how many non-related residents can live in one property. Look closely at the neighbourhood you plan to purchase your property in and if it is close to amenities, public transit or schools, which can help increase the rent you charge. Do the math and see if the equity you are building justifies the cost. And finally, make sure you will be okay with the trade-off of privacy versus return.