There’s no shortage of great communities to call home in Edmonton. Having said that, finding your dream home in one of the top Edmonton neighbourhoods and having it fit your budget and be turnkey is no small feat.
If you’re not afraid of a little sweat equity or if you know a great contractor who can get the job done, buying a fixer-upper can be a great option to get you into the perfect house in the perfect Edmonton neighbourhood. Alternatively, finding the right renovation project to flip for a profit is the stuff HGTV dreams are made of!
Curious to find out which top Edmonton neighbourhoods you should sink your renovation dollars into? Read on to find out where you can expect a decent renovation ROI in Edmonton.
Wally’s Top Edmonton Neighbourhoods for Fixer-Uppers & Infills
This mature neighbourhood is experiencing a major renaissance with an influx of young families and single professionals amidst the long-time residents who have called Ritchie home for years. Development began way back in 1891, making the community one of Edmonton’s oldest.
With a fantastic location within walking distance of the trendy Whyte Avenue area and the beautiful parkland trail system of Mill Creek Ravine, Ritchie appeals to a range of homebuyers at all life stages. And it’s not just homebuyers who love Ritchie — locally-owned businesses are flocking to the neighbourhood and contribute to the strong sense of community and unique charm of the area.
Ritchie Market is home to ACME Meat Market, Biera, Little Duchess Bake Shop, Blind Enthusiasm Brewing, and Transcend Coffee. Located across the street is Kind Ice Cream, which routinely has ice cream fans of all ages lined up outside the door for a scoop or two during the summer months.
Ritchie homes for sale tend to be quaint character bungalows or one and a half storey homes. Prices for Ritchie fixer-uppers start at just over $300,000 with plenty of potential to renovate or rebuild. Many homes also have separate entrances to the basement, which provides the option of a basement suite for additional rental income.
Interested in nearby top Edmonton neighbourhoods with renovation potential? Check out Hazeldean homes for sale.
Homebuyers searching for the perfect bungalow with vaulted ceilings to renovate into a mid-century modern masterpiece can look no further than south Edmonton’s Lendrum Place. With quiet, mature tree-lined streets and three excellent schools in the neighbourhood, Lendrum Place is very popular among growing families and long-time residents who take great pride in meticulously maintaining their lovely homes and yards.
Lendrum Place homes for sale don’t tend to stay on the market long. With the neighbourhood’s close proximity to the University Area, particularly the South Campus LRT station, and Southgate Centre, the neighbourhood is extremely popular for its desirable location.
As homes have maintained value over the years, investors will need a healthy budget to get started. A relatively untouched but well-kept bungalow will start around $450,000, but it is not uncommon to fetch over $1 million for a brand new infill property in Lendrum.
Interested in nearby top Edmonton neighbourhoods with renovation potential? Check out Pleasantview homes for sale.
One of the more challenging aspects of renovating a fixer-upper is that older homes in established neighbourhoods tend to have a smaller footprint and lack the flexibility to add some of the modern comforts homebuyers want like a master bathroom, walk-in closets, or open floor plans.
This is not the case in Brander Gardens, however, where estate-style homes were built on massive lots in the 1960s and 1970s with interesting architectural details and charm to spare.
Similar to Lendrum Place, inventory in Brander Gardens doesn’t come up often — it’s not uncommon to have original owners living here — and bargain homebuyers will be hard-pressed to find a single-family home in Brander Gardens under $500,000. But with generous square footage, unique architecture, and expansive lots on quiet streets, Brander Gardens homes for sale make excellent renovation projects for homebuyers who want a dream home in a dream neighbourhood.
Interested in nearby top Edmonton neighbourhoods with renovation potential? Check out Brookside homes for sale.
Edmonton communities located along the city’s beautiful river valley are always in hot demand, and Rio Terrace is no exception. This West Edmonton community was largely developed in the 1950s and 1960s featuring only single-family houses — no duplexes or condos. The south edge of the community backs onto the North Saskatchewan River and massive, mature trees line every street.
Limited in/out access ensures streets are exceptionally quiet, but close proximity to Whitemud Drive makes connecting with the rest of the city a breeze. Rio Terrace homes for sale are residential gems that homeowners invest in and maintain for the long haul.
Modest, but well-maintained bungalows or split-level homes are being snapped up for around $350,000 and extensively renovated or turned into modern West Edmonton infills.
Interested in nearby top Edmonton neighbourhoods with renovation potential? Check out Crestwood homes for sale.
Demand remains high for homes that strike that perfect balance between residential community life and proximity to the urban core. While communities like Glenora and Westmount have been hotbeds for renovation potential near Edmonton’s downtown core for years now, there are still opportunities to get your foot in the proverbial door in the north west community of Inglewood.
Especially with development of nearby Blatchford finally underway, you don’t want to miss an opportunity to get into this up-and-coming community while you can.
Inglewood infills are popular, with investors snapping up and tearing down smaller bungalows along the quiet tree-lined streets. There are also plenty of character homes in Inglewood for the discerning home buyer looking for a renovation project that maintains and modernizes the classic charm of some of Edmonton’s loveliest original homes. Single-family Inglewood homes for sale start around $325,000 or less.
Interested in nearby top Edmonton neighbourhoods with renovation potential? Check out North Glenora homes for sale.
Take the next step and connect with Wally to learn more about buying a fixer-upper in Edmonton. Call/text at 780-238-7384 or send him a message today.