When you're buying a home in Alberta, it’s easy to focus solely on the down payment. But as the "closing day" approaches, a different set of numbers enters the picture: closing costs.

In Alberta, we have some of the lowest closing costs in Canada (thanks to having no Land Transfer Tax!), but you still need to budget carefully. Here is exactly what is involved in the legal side of crossing the finish line.

1. Professional Legal Fees

This is the amount you pay for your lawyer’s expertise. Your real estate lawyer isn't just "signing papers"; they are:

• Reviewing your purchase contract.

• Conducting title searches to ensure no hidden liens exist.

• Preparing and registering the Transfer of Land and Mortgage documents.

• Managing the secure transfer of hundreds of thousands of dollars between you, your lender, and the seller.

What to budget: In the Edmonton area, base legal fees for a standard purchase with a mortgage typically range from $650 to $1,600 + GST, depending on the complexity and requirements of the file.

2. Lawyer Disbursements (Out of Pocket Expenses)

Disbursements are costs your lawyer pays to third parties on your behalf to get the job done. Think of these as "reimbursements." Your lawyer doesn't make a profit on these; they simply pass the cost through to you.

Common disbursements include:

• Land Title Registration Fees: The Alberta Land Titles Office charges a fee to register the house in your name and register your mortgage. This is usually the largest disbursement.

  • Example: For a $450,000 home with a $400,000 mortgage, registration fees are approximately $950.

  • Here is a link to the breakdowns from land titles. https://www.alberta.ca/system/files/sartr-land-titles-and-surveys-common-documents-fee-schedule.pdf

• Title Searches: Small fees (about $10–$15 per document) to pull the most current "snapshot" of the property's legal status.

• Tax & Utility Searches: To confirm the seller is caught up on property taxes so you aren't stuck with their bill.

• Courier, Photocopies & Software Fees: To securely transport documents and use specialized legal platforms for registration.

3. Other Closing Costs to Watch For

Beyond the lawyer's bill, there are a few other "possession day" costs that catch buyers by surprise:

• Property Tax Adjustments: If the seller prepaid the property taxes for the full year, you must "buy back" the portion for the months you will actually own the home. This can range from a few hundred to a few thousand dollars.

• Title Insurance: Most lenders require this. It protects you against issues like survey errors or title fraud. It's a one-time fee, usually between $200 and $500. But it can be more as it’s based on the property value.

• Home Insurance (Binder Letter): You must have your home insurance active and provide proof (a "binder") to your lawyer before they can release your mortgage funds.

The "Rule of Thumb" for Alberta Buyers

While every deal is different, a safe bet is to set aside 1% to 1.5% of the purchase price for closing costs. For a $450,000 home, having $4,500 to $6,000 in a separate savings account will ensure you aren't scrambling on move-in day.

Alberta Real Estate Closing Cost Worksheet

Use these estimates to budget for your upcoming purchase in the Edmonton area.

Unlike other provinces, Alberta has no Land Transfer Tax. This saves you thousands of dollars compared to a buyer in Ontario or B.C. However, your lender will still require 'Certified Funds' or a Bank Draft for your closing costs, roughly 2–3 days before your possession date, so keep this cash accessible!

Given that lawyers and/or their firms each have their own independent business model and fee schedules, please make sure to reach out directly to them for costs, as we simply offer a ballpark and average of local costs.

Happy New Year, Edmonton! As we step into 2026, many of us are setting new goals, and for a significant number of Canadians, that goal is finally achieving homeownership. After years of intense seller’s markets and affordability struggles across the country, I'm here to tell you why 2026 is shaping up to be a year of renewed opportunity and power for buyers right here in Edmonton and the surrounding areas.

Forget the frantic bidding wars of the past few years. The Greater Edmonton Area is entering a period of welcomed stability and strategic advantage for those ready to make their move.

The Great Inventory Reset: More Homes, More Choice, More Power

For too long, buyers have faced slim pickings, leading to rushed decisions and compromised dreams. But 2026 is bringing a refreshing change:

Inventory is Increasing: We're seeing a significant and sustained increase in the number of active listings across Edmonton and areas like Sherwood Park. This isn't a flood, but a healthy replenishment.

What This Means for You: More homes on the market translates directly into more choice for you, the buyer. You'll have the luxury of taking your time, exploring different neighbourhoods, and finding a property that truly fits your needs without the intense pressure to make an immediate, blind offer.

Negotiating Power: When there are more homes available, sellers are often more willing to negotiate on price, terms, or conditions. This is where a savvy buyer, armed with a good agent, can truly shine.

The Immigration Factor: A Gentle Softening of Demand

Alberta has been a magnet for inter-provincial migration, and it continues to be. However, recent federal policy changes regarding overall immigration levels mean that the rapid pace of population growth we saw in 2024 and early 2025 is expected to temper slightly.

Catching Our Breath: This doesn't mean growth stops; it means the demand on housing supply will ease just enough for the market to catch up.

A Strategic Window: This period presents a strategic window for existing residents and current newcomers to secure their homes before the market potentially tightens again when demand inevitably picks up. It's about getting ahead of the next wave.

2026 Price Forecast: Steady Growth, Not a Bubble

Don't expect prices to plummet – our market fundamentals are too strong for that. What we can expect in 2026 for Edmonton real estate is modest, sustainable appreciation, likely in the 2-4% range for single-family homes.

Healthy & Predictable: This type of growth is ideal. It protects your investment without creating the volatile, speculative environment that makes buying feel risky. You can feel confident that your property will slowly but surely build equity.

Segment by Segment:

Single Family Homes: Remain the most sought-after property type, especially by families migrating from other provinces seeking space and value. Expect steady, moderate growth.

Condos: Continue to offer the most affordable entry point into the market. While price growth might be slower than detached homes, they represent an excellent opportunity for first-time buyers and investors looking for an accessible way into homeownership.

Your 2026 Action Plan: Seize the Opportunity!

This isn't a year to sit on the sidelines. It's a year to be prepared and proactive.

1. Get Your Mortgage Pre-Approval NOW: This is non-negotiable. Knowing your exact budget and having your financing in order (including navigating the Mortgage Stress Test) gives you immense power when it's time to make an offer.

2. Explore Value Neighbourhoods: With more inventory, you have the chance to discover fantastic communities that offer excellent value and strong potential for future appreciation. Let's talk about areas like Queen Mary Park, Terrace Heights, or Griesbach which are poised for great things in 2026.

3. Don't Fear the Winter Buy: January and February often see fewer competing buyers and highly motivated sellers. This could be your golden opportunity to negotiate a fantastic deal before the spring rush.

Ready to Make 2026 Your Homeownership Year?

The power is shifting, and the Edmonton and area real estate market is ready for you. This year, let's turn your dreams into a reality. Contact us today to develop your personalized 2026 buying or selling strategy and make the most of this exciting new chapter!