In our previous blog, we went over the market trends for detached homes and condo prices in Calgary. The average price of a home increased by 1.3% for a two storey home and decreased by 3.5% for condos.

There were two main factors to help you decide which type of home you should invest in which included:

1.  What is your price range/budget
2.  What is your lifestyle

We will go over the benefits of purchasing a condo in Calgary when it comes to budget and lifestyle.

Budget

When it comes to buying a new home, you will need to consider the new mortgage rules which have already entered into effect. This is resulting in more Canadian purchasing homes that are 20% below their original budget for a home. Here are some factors to consider…

When searching for real estate in Calgary, deciding whether to purchase a home or a condo boils down to two main factors: 

1.  What is your price range/budget 
2.  What is your lifestyle 

The answer to these two questions will help narrow down the preferred choice when it comes to buying a home in Calgary. It’s important to note the real estate trend for home prices in the last quarter of 2018 in Calgary.

According to CBC.ca, the average price of homes in Calgary increased by 1.3%, increasing the average rate for a two-storey home to $539,840 and $517,573 for bungalows, which increased by 1.7%. Condos in Calgary, on the other hand, saw a decrease in the price, falling to an average price of $279,745, lowering the price by 3.5%. For buyers…