Many analysts currently believe the Government of Canada is going to keep interest rates ultra low until 2023. Why? Because, to have a healthy Canadian economy during these challenging times, we need to keep spending, investing and, yes, borrowing money in the form of loans and mortgages. A low interest rate makes it easier for everyone to do just that.

If you’re buying your principal residence, a low rate can mean an easier approval on your first-time or new mortgage as well as significant savings over a fixed term. If you’re an investor, a rock-bottom rate can save you interest on your loans and mortgages, helping you invest even more and keep the economy going! For sellers, low interest rates can mean more potential buyers because more people can get approved for mortgages. That, in turn, can sometimes mean higher prices. If you’re selling, it presents an improved opportunity to move up to a more expensive property with a bigger yard and more square footage for the home gym and office. Moving up like that is very popular at the moment, with many Canadians looking for more space.

As your realtor, when interest rates are low, we can cast a wider marketing net, pitching your for sale property to more people because it’s easier for them to get bank financing. Even if you’re not ready to sell, 2021 might be a great year to re-finance your debt and improve your cash flow. You might want to renovate your home for a higher level of comfort during the next months and years, knowing there’s a good chance you’ll be working from home at least some of the time.

Is there any downside to lower interest rates? Not really, except: Buyers sometimes get into trouble when they acquire a low-interest mortgage without locking it in. If the rate goes up, you might not see a major monthly payment increase, but there will typically be an adjustment of your terms. The interest over that extended term can add-up, big-time. To counter this, opt for a medium term with a fixed, not floating, rate.

If you want to surround yourself with the natural beauty of Edmonton’s river valley, take a look at Riverdale. This neighbourhood is often described as being one of the city’s most attractive.

Enclosed by the North Saskatchewan River to the east and south, and by the high cliffs of the valley on the west and north, it is a well-established community on a large, flat area about a mile away from the downtown core. Originally settled more than 100 years ago, it was the site of heavy industry, with coal mining, brick manufacturing and a lumber mill. Today, many character homes remain, along with a small church and brick school in a setting full of mature trees.

Parks near Riverdale include Allan Stein, Dawson, and Louise McKinney Riverfront Park. The nicely-landscaped Riverside Golf Club is here, too. Like other close-to-the-core communities, Riverdale real estate ranges from entry level condos and half-duplexes (still very stylish and comfortable) to luxurious single-family homes on multi-acre lots, many with great views.

The work-from-home (WFH) trend is here to stay. Here’s how to make it as cool as can be!

Design your space to fit your work style.
Side hustle or skyrocketing commercial enterprise? You’ll need to decide whether to

1) add an office nook to your kitchen;

2) convert your guest room to a profit centre or,

3) buy an Airstream Globetrotter (bus-like RV) and park your new home-office-on-wheels in the driveway for easier shipping and receiving!

Fill it with as much light as possible.
Light boosts productivity. Natural light from windows and skylights scores highest and, if you’ve got that going, add living plants for more oxygen, too. Otherwise, fill-er up with fixtures and stock up on lightbulbs!

Save your back.
Splurge on an ergonomic, high-performance captain’s chair. You’re going to spend hours in it, so take full control of your own comfort and health.

Give yourself serious surface space.
A cluttered, old desk or table – with no room for everything you’re working on – leads to a messy business. You’re serious about your business, right?

Try a stand-up desk.
Going vertical could heighten your productivity! These come in two varieties: High-end furniture pieces and makeshift inventions. You decide. You’re the boss here, after all. If you want to use a bar-cart, that could work.

Connect with high-speed Internet.
Your customers & community expect it. This is now the era of empowering Zoom meetings and seamless e-commerce. Think fast!

Set up sensible storage, so you can really organize your stuff.
Use drawers, a filing cabinet, even an entire wall of storage compartments to ensure everything has its place and you can quickly find whatever you need.

Give your space style & personality.
Dress it up for Zoom video calls! Feel good – and help others feel good – about you, your company and your brand. Don’t forget to add inspirational artwork!

Avoid merging work & leisure in one zone, if possible.
At worst, it’s a recipe for disaster (think spills and equipment getting wrecked). At best, it’s still an intrusion on either 1) work productivity or 2) leisure-time fun.

Get some of the latest, greatest home office furniture & devices.
Check out the new wall-beds (aka Murphy beds) with desks. This is a great idea for guest room – office conversions. And then some.

What can we expect to see happening with Edmonton real estate in 2021? That depends who you ask.

While we wait for the annual expert reviews and predictions (usually in early February; watch for our coverage), we’ve mostly been hearing from economists and the realty firms that the 2021 activity and pricing across the country should be similar to 2020 or “up” slightly. That means a price increase of somewhere between 4% and 6% nationally according to some. Here in Edmonton, it should translate to about 2%, putting the YEG average price somewhere in the high-300’s.

Factors currently shaping the real estate market here include COVID-19, low interest rates, oversupply of apartment-style condos (downward pull-on overall pricing) and continued strong demand for single family homes with more space for offices and gyms, large, fenced yards for dogs, kids and food gardens.

Thinking of listing? Right now, could be a great time to do so! Looking for a new place with more space (for the swanky home office and gym)? I know where you can find it.