Top Sherwood Park Buyer FAQ's | Alberta Home Buying Questions Answered

Posted by Super Admin on Friday, September 19th, 2025  12:23pm.

Buying a home in Sherwood Park or anywhere in Alberta is a major life step—and it's only natural to have questions. Whether you're a first-time buyer or relocating within the Edmonton area, getting clear answers can help make the process smoother, faster, and a lot less stressful.

At HomeSweetHomeEdmonton.com, we’ve teamed up with Sherwood Park real estate professionals Blu Erick (780-819-5309) and Jenniffer Erick (780-887-5308) of Maxwell Polaris to tackle the most common Sherwood Park buyer FAQ’s we hear every day.

1. “What’s the first step in buying a home in Sherwood Park?”

The first step is always getting pre-approved for a mortgage. Knowing what you can afford helps narrow your search, avoid disappointment, and show sellers you're serious.

Pro Tip from Blu Erick:
"Pre-approval gives you a real edge in a competitive market like Sherwood Park—it turns you from a browser into a buyer."

2. “How much do I need for a down payment?”

In Alberta, you typically need at least 5% of the purchase price for a down payment on a primary residence. For homes over $500,000, the structure changes slightly (5% on the first $500K, 10% on the remaining balance).

Jenniffer Erick adds:
"Saving more can help you avoid mortgage insurance and give you better rates—but don’t let the 20% myth stop you from starting your search!"

3. “What hidden costs should I be aware of?”

On top of your down payment, consider these common expenses:

Having a buffer of 1.5% to 3% of the home price is a good rule of thumb.

4. “How competitive is the Sherwood Park housing market right now?”

Sherwood Park continues to be a sought-after community due to its excellent schools, amenities, and quick commute to Edmonton. Well-priced homes in popular neighbourhoods can move fast.

Blu Erick recommends:
"Be ready to act quickly. We’ll help you spot value, negotiate strong offers, and avoid overpaying in bidding wars."

5. “Do I need a home inspection in Alberta?”

Technically, it's not required—but it’s highly recommended. A home inspection protects your investment and gives you negotiation power if issues are found.

Jenniffer Erick shares:
"A $500 inspection can save you thousands in repairs—or give you peace of mind you’re buying a solid home."

6. “What’s the difference between a buyer’s agent and a listing agent?”

A buyer’s agent (like Blu or Jenniffer) works exclusively for you—the buyer. They represent your interests, help you negotiate, and guide you through every step of the process.

The listing agent works for the seller. Having your own representation ensures you're not at a disadvantage during negotiations.

7. “Is now a good time to buy in Sherwood Park?”

That depends on your goals. Interest rates, inventory levels, and personal circumstances all matter. The best way to know is to speak with a local expert who understands both the market and your needs.

Reach out to Blu Erick at 780-819-5309 or Jenniffer Erick at 780-887-5308 to schedule a free, no-pressure consultation.

Let’s Make Home Happen

Whether you're just starting your home search or ready to make an offer, our team is here to simplify the journey. At HomeSweetHomeEdmonton.com, we take pride in connecting you with trusted local experts like Blu and Jenniffer Erick of Maxwell Polaris, who are dedicated to helping you find the perfect place to call home.

Contact the Sherwood Park Real Estate Experts Today:

Proudly serving Sherwood Park, Edmonton, and surrounding Alberta communities.

Need more info?
Browse our other guides on Alberta home buying questions and Sherwood Park real estate tips at www.HomeSweetHomeEdmonton.com.