There’s a lot to look forward to when spring arrives in Calgary. Spring also serves as the beginning of house hunting for many, which can be exciting, especially for first-time home buyers in Calgary. Purchasing a home can include a mix of emotions, from feeling overwhelmed to staying excited about your new home. To make the most of the home buying journey, there are some strategies prospecting homeowners should keep in mind. It’s important to have goals and to own a home you look forward to coming to every day.

Real Estate Agents in Calgary offer their advice on the top mistakes buyers make, and how they can be avoided.

1) Focusing on the House, and Not the Neighbourhood

Often, many home-buyers, especially first time buyers, focus on the…

In our previous blog, we outlined the importance of obtaining a good credit score and how it can influence the home buying process. Whether you are a first time home buyer in Calgary or are looking to establish a great credit score, here are some tips that can help.

1) Strengthen Your History

For those who may have little to no credit history, it would be wise to be able to obtain credit to help strengthen your position. Items such as a secured line of credits, personal loans, credit cards and auto loans are some options to choose from to help you strengthen your credit history. Do not open or obtain multiple credits rapidly.

2) Utilize What You Have

A great option to take into consideration would be to increase the amount on your current…

When shopping around for the perfect home, buyers also need to have their mortgage in mind to help them create a budget. Your mortgage is essential to your house hunting process and there are a few considerations home buyers need to keep in mind. Home Buyer real estate experts will always advise clients to create a solid budget before they start the home buying process. Credit scores in Canada and the United States slightly differ in terms of their range and what the scores represent. Here is the breakdown of score and meaning in Canada:

Canada Credit Score Rating via TransUnion - Maximum is 900 

Excellent (Scores 801+)
Any score above 801 is considered an excellent score, leading to borrowers receiving better interest rates.

Good (Scores 750-800)
Falling…

In the last part of the series, we’ll compare the lifestyle that typically attracts individuals to purchase a home or a condo in Calgary. If you missed the previous parts of the blogs, you could click here to start from part 1, which sheds light on Calgary’s real estate market.

LifeStyle: Living in a condo offers many benefits, which includes eliminated yard work or shovelling, less space to clean and maintain, and more. For many, it is a lifestyle that allows them t focus more on enjoying their home rather than taking care of it.

Some niche buyers who would benefit from living in a condo in Calgary include:

First Time Buyers

First time home buyers purchasing a condo as their first home is generally a significant investment, especially…

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…