The auction block

It’s the latest real estate trend and it’s catching on quickly in Alberta – selling luxury properties on the auction block.

Although selling real estate through an auction process might seem like a new idea here in North America, Murray Lange, Alberta and British Columbia business development officer for New York-based Concierge Auctions, says the practice has actually been around for a long time.

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Old community, new energy

Historic Connaught provides inner-city lifestyle with old-world charm

Humming with an eclectic, urban vibe, Calgary’s inner-city community of Connaught attracts a variety of residents, from millennials to empty nesters. The community brims with multi-family housing, tree-lined parks, community vegetable gardens, purpose-built dog playgrounds, and a variety of unique restaurant and retail offerings. As an added bonus, many of these businesses, such as Kalamata Grocery and Analog Coffee, are spearheaded by local entrepreneurs.

“There is just this huge appeal – there are the parks and the trees and you are also in the thick of it. It’s a real community where there is something for everyone,” said Connaught resident Patricia Insole.

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Affordable core

Joshua Smith achieved his ideal downtown lifestyle at the right price point with a new Beltline condo

Joshua Smith, a 31-year-old communications adviser, was living in the northeast community of Taradale with his brother, commuting close to two hours a day to his job in the downtown core and back. His goal was to save some money and purchase a condo in the inner city. He yearned for the downtown lifestyle, where he could be close to coffee shops, restaurants and workout facilities. He wanted to be able to walk to work, and to meet friends for dinner or drinks without having to worry about a lengthy drive or an expensive cab fare. He also required a home with a great view, and it had to be affordable.

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Work in progress

Buying a home with renovations in mind

Over the years, designer, builder and renovator, Shane Rennie of Rectangle Design Inc. has seen a consistent trend emerge when it comes to renovations.

“Most people are looking for a long-term investment, a family home, a place that they can see themselves in 15 or 20 years and they are looking to renovate to suit, so that the home lasts a lifetime,” said Rennie.

But renovating an entire home at once is often out of most people’s price range.

“The trend now is to renovate in phases,” said Rennie, who recently purchased a home that he is renovating in three stages. “The home is in a fantastic neighbourhood, but it was at the top of our budget.”

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