Embrun, Russel and Felton are Russell's most popular neighbourhoods. Strata.ca looks at a number of indicators to rank the communities most in-demand. Some of these factors include the average sale price, how much time a property typically spends on market, and the number of homes that have sold over asking.

It's hardly surprising that Russel are Russell's most expensive neighbourhoods. Neighbourhoods are ranked by assessing the average sold price during the past 12 months, and compared to all of the other neighbourhoods in the city. If you're looking for value, Russell's priciest neighbourhoods may not be ideal. Instead, check out Embrun for other alternatives.

Every city has neighbourhoods where property values tend to be cheaper - and in Russell they are Felton. Strata.ca assesses historical data to determine the average sale price for every neighbourhood. Many properties in Russell's least expensive neighbourhoods are selling below the city's average of $655,544.

Property tax is one of the things you'll need to consider when estimating the cost of owning a house in Russell. This tax helps fund many local services, such as snow removal, fire protection, and much more. Property tax rates are assessed and determined annually by your municipality. They usually fall somewhere between 0.5 to 2.5%. Some Russell homebuyers believe this tax is based on the size of the house. But rather, the tax rate is multiplied by the home's current market value - which can fluctuate each year based on surrounding homes. Let's say your property's market value is $700,000 and the municipal property tax rate is 0.5%. This means you'd owe $3,500 in property taxes that year.

Strata.ca features all listings in Russell, updated multiple times daily - you won't ever miss a property when using this platform. This platform offers something extra that many others don't. In addition to property specs, Strata.ca also provides extra data and rankings. With Strata.ca, you can also get historical data on every property in Russell. You'll have all the intel you need to outsmart the local real estate market.

With a walk score of 55, Russell is a somewhat walkable city. For anyone with a bike, this neighbourhood offers more limited bike infrastructure, with a bike score of 44.

When looking for a house in Russell, many buyers will overlook the closing costs. It's important to be aware of what these costs are, so you can budget accordingly prior to making an offer. Closing costs cannot be rolled into your mortgage. But rather, these are charges paid upfront on the day of closing. To be safe, budget about 2% of the purchase price. For instance, if you're buying a Russell house for $800,000 - then at least $16,000 should be set aside. A significant portion of your closing costs will be dedicated to the land transfer tax. These taxes are based on a percentage of the total purchase price. If this is your first home, you can reduce closing costs by applying for a government rebate. Under this program, first-time homebuyers are reimbursed a portion of the land transfer tax. And finally, when buying a home in Russell, you'll need a real estate lawyer to close the deal. Be sure to put aside $2,000 to cover the cost of your real estate lawyer, although legal fees can vary.