Welcome to 2024!  

The new year brings an excellent time to reflect on our dreams and set goals for the year – that includes real estate goals. Whether you're considering buying, selling, or investing in Central Alberta's housing market, it's good to have clear ideas. 

The problem, however, is that setting goals can get pretty overwhelming. With everyone showing off their year-end wrapped showing their life’s progress, you can’t help but feel the need to keep up with them. Pro tip: You don’t have to.  

To help you set achievable goals for this year, here are five tips from us at Lapp Realty, your friends and neighbors in Central Alberta.  

Expert Tips to Navigate Central Alberta's Market and Set Attainable Goals

1. Budget Savvy: 

Before diving into your real estate goals, take stock of where you stand. 

Keep an eye on your spending, make a savings plan, and cut out things you don't need. Every dollar saved gets you closer to your dream home. 

Also, assess your current situation. Are you a first-time homebuyer? Thinking of upgrading or downsizing? Evaluating your financial readiness and lifestyle needs lays the groundwork for setting meaningful objectives.

2. Credit Check: 

Your credit score plays a crucial role in securing favorable mortgage rates. 

 Regularly monitor your credit score and take steps to improve it if needed. Pay bills on time, keep credit card balances low, and avoid opening new lines of credit.  

A higher credit score can open doors to better mortgage deals, potentially saving you thousands of dollars over the life of your loan.  

For better ideas on credits and mortgages, talk to Central Alberta experts. Reach out to us so we can give you a list of our recommended local mortgage experts. 

3. Research & Plan:  

Don't rush into the housing market blindly. Take the time to research different housing options, explore various neighborhoods, and understand available mortgage programs.  

Specificity is key. Do you aim to purchase a property within the next six months? Increase your investment portfolio? Define your objectives in terms of timelines, budget, desired property types, and locations within Red Deer, Sylvan Lake, or surrounding areas.  

Other factors you need to plan are the neighborhoods like school districts, amenities, and proximity to work or essential services.  

Knowledge is your best ally in making informed decisions that align with your lifestyle and preferences. Consult with local experts to help you find the best place and deal for you.  

Lapp Realty's local expertise can be invaluable. Our team understands the nuances of the market trends, neighborhoods, and property values in Red Deer, Sylvan Lake, and beyond. Schedule a consultation to align your goals with expert insights. 

4. Side Hustle:  

With Central Alberta’s thriving economy, you have an edge when you boost your savings potential by exploring additional income sources.  

Consider taking up a side hustle such as freelancing, part-time gigs, or monetizing a hobby.  

The extra income can expedite your savings for a down payment or help cover unexpected expenses during the home buying process.  

Even a modest increase in earnings can make a substantial difference in achieving your homeownership goals. 

5. Stay Motivated:  

Celebrate every milestone along the way, no matter how small. 

Whether it's reaching a savings benchmark, improving your credit score, or narrowing down your preferred neighborhood, acknowledge and celebrate these achievements.  

Keeping yourself motivated and focused on your wins – big or small, will maintain your momentum toward your ultimate goal of owning a home in Central Alberta. 

At Lapp Realty, we're dedicated to helping you turn your real estate goals into reality. With our local knowledge and personalized approach, let's work together to make this year the one where you achieve your dream home in Central Alberta. 

This year is going to be YOUR year. Claim it!