Potential homeowners might want to check out Rimbey to get the best bang for their buck when they shell out for a new home.
A report by Coldwell Banker Canada comparing housing prices for the first half of 2012 states a four-bedroom, two-bathroom home can be purchased in Rimbey for an average price of $201,950. According to the report, the only other community with even lower affordable housing was Windsor, Ont. whose average price for the same housing came in at $170,000.
Mayor Sheldon Ibbotson believes people are beginning to see Rimbey as a community of choice.
He noted $9 million in commercial and residential development permits have been issued this year, a clear indication that the town is flourishing.
“That is a good number for this town,” he said.
Ibbotson pointed out that low-cost housing is only one of the attributes Rimbey offers, noting the town’s hospital, the RCMP detachment, the community centre, recreation services and schools are also drawing cards.
“We’re that hidden gem in central Alberta people need to find,” he said.
Jeff Collins, a realtor with Coldwell Banker Ontrack Realty in Rimbey agreed.
“I think Rimbey is number 1. You can’t beat Rimbey or the people here.”
Collins, who has been in the real estate business for 20 years in Rimbey, said the town is centrally located making both major airports easily accessible. He also noted the town is near recreational centres making it appealing to families.
People who live in Rimbey and work in Fort McMurray may do so because the average cost of a four-bedroom, two-bathroom home in that community runs approximately $608,655. Fort McMurray ranks 69th on Coldwell Banker’s list, Red Deer ranks 35th with an average cost of $326,151 compared to Lacombe, which was slightly higher at $326,226 and took the next spot.
Buying a house in Rocky Mountain House, a community about an hour west of Rimbey, is even more costly. The sample home in that community costs an average of $343,476.
In a news release, John Geha, president of Coldwell Banker Canada, said affordable options are available to home buyers, even though home prices have soared in some markets across Canada.