Jason Scott talks with David Moriarity, a realtor with Century 21. David previously served in the Canadian Armed Forces, and served in Afghanistan. While recuperating from an injury, he decided to start learning about real estate. 7 years later, he is doing between 50-70 transactions per year, which is an incredibly high pace to maintain.
[smart_track_player url=”https://iloveedmontonrealestate.com/wp-content/uploads/2018/09/ILRE-Edmonton-006.mp3″ title=”David Moriarity” artist=”Jason Scott – I Love Edmonton Real Estate” image=”http://i.imgur.com/GQJKqBn.png”]
Infill duplex
- If a lot is RF3 zoned, you might consider side-by-side duplexes or front-back duplexes
- Front-back duplexes are surprisingly common in Edmonton. These are duplexes with both front doors facing the street with a garage in the back. The City of Edmonton is supportive.
Construction by the numbers
- Lot prices should be between $200k to $300k
- Construction costs can be between $125 – $200 per sq. foot
- A typical build takes about 7-9 months
Infill development challenges
- Some neighbourhoods are making agreements with their neighbours to stop new developments (tear-downs)
- Neighbouring homeowners can be affected by construction (having to replace a fence and the added noise)
- The look for a neighbourhood can change with some houses not fitting in with the rest. (i.e. Strathearn and Bonnie Doon)
- Waiting for permits can be frustrating
Strathern and Bonnie Doon
Overcoming development challenges
- Realizing that all houses need to be renovated or replaced eventually
- When all the work is done property values increase for everyone
- Including the neighbourhood in the development process. Developers want the houses to look good too
- Realizing that waiting on permits is a good thing as this means the city is cleaning up bad projects
an older Edmonton house surrounded by two newer modern homes
Hot neighbourhoods in Edmonton
- Whyte Avenue over towards Westmount
- Cheapest neighbourhood would be Eastwood
- In 3 to 5 years Richie, Hazeldean and 109 St should start to see development, as there are a lot of older homes and big lots
What to look for in a realtor
- Get someone on the same page as you
- Someone who you are comfortable with that is knowledgable and experienced
Advice
- A good entrepreneur improves the lives of everyone around them
- Give solid advice upfront to your clients
- Pay attention and deal with things right away, don’t let problems grow
Contact David Moriarity
-
- Phone:780-298-2395
- Twitter:@David_Moriarity
- Email:david.moriarity@century21.ca
- Web: century21.ca/david.moriarity
<!–
- Web: parallel53realty.com
–>