Buying Tips

Tips about Buying Real Estate In Calgary

Found 105 blog entries about Buying Tips.

Building a New Home Vs Buying an Existing Home

When deciding between building a new home and purchasing an existing one, you’ll likely face a complex set of considerations including customization, cost, and timing. Building a new home makes it easier to tailor every aspect to your specifications, ensuring that the final product is aligned with your lifestyle needs. On the other hand, buying an existing home can be less of a financial burden and also offers the immediate gratification of a quicker move-in. But what are the hidden costs and surprises that might sway your decision one way or the other?

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

Notes on New Construction vs. Existing Home

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Where to Get Your Condo's Status Certificate + What Is an Estoppel Certificate?

When selling or buying a condo, it’s important to understand what a status certificate is and where to get one. Sometimes known as an estoppel certificate, this provides a snapshot of your condo's current state, including financial details and bylaws. But where do you get this document, and why is it critical for a smooth transaction? Let's explore the steps and significance behind it in real estate dealings.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

Condo Status Certificates at a Glance

  • Status certificates are obtained from the condo's management company or board, often with a processing fee.
  • The estoppel certificate provides a condo
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Do You Pay Property Taxes on Condos?

Condo owners do pay property taxes, just like any other homeowner. But what exactly determines the amount? Property taxes on a condo combine your unit's assessed value, the municipal tax rates, and the provincial education property tax. The average collective property tax rate in Alberta was around 0.648610 as of 2024. Given the lower property values, annual taxes are typically lower for condos than single-family homes. Keep reading to uncover everything Alberta condo owners need to know about property taxes.

For informational purposes only. Always consult with an attorney, tax, or financial advisor before proceeding with any real estate transaction.

Do You Have to Pay Property Taxes For a Condo?

  • Yes, condo owners in Alberta are required to
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Down Payments For Condos in Calgary

Owning a condo in Calgary is an incredible privilege. From the city’s many food and shopping opportunities to its natural wonders and open spaces, Calgary’s vibrant neighbourhoods offer something for everyone. If you’re considering buying a condo here, you’ve probably wondered just how much you'd need for a down payment to make your dream a reality. However, the answer isn’t as straightforward as you may think, with various factors influencing the amount. 

Is it possible to navigate these complexities with ease? Discover how understanding the nuances can put you on the path to homeownership in this vibrant city.

For informational purposes only. Always consult with a licensed mortgage or home loan professional before proceeding with any real

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Can I Have a Dog in a Condo?

So, you're considering moving into a condo, and you have a furry friend to think about. You've probably heard that condos tend to have strict rules regarding pets, especially dogs. It's not just about size and weight—breed restrictions, noise, and behaviour guidelines can all play a part. You might even need to budget for additional costs like non-refundable deposits and monthly pet fees. Curious about what specific pet rules you might encounter and how to prepare?

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

Condos & Dogs in a Nutshell

  • Many condos allow dogs but impose restrictions on number, size, and breed.
  • Governing documents like CC&Rs
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What is a Condo?

When considering a new place to live, it’s essential to understand what a condo entails—and how it might stack up against an apartment. A typical condominium offers ownership and community living, with individual units and shared common spaces. As a resident, there are clear benefits like building equity and access to amenities, but you’ll also face commitments such as condo association fees and rules. So, how do you decide if condo living is right for you, and what kind of investment will you need to make the switch from apartment life?

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

Condo vs. Apartment at a Glance

  • Condos involve ownership of
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Making a Final Decision between Two Houses

When a house hunt comes down to choosing between two houses, it’s important to weigh certain aspects that can ultimately shape your daily life for years to come. From practical considerations like location and cost to more personal factors such as lifestyle fit and emotional connection, each factor can bring you closer to making a final decision.

5 Things to Consider When Buying a House

  • Compare costs, including purchase price, taxes, and maintenance expenses.
  • Evaluate location factors like commute times and amenities.
  • Consider long-term goals, lifestyle fit, and personal preferences.
  • Seek advice from real estate professionals and trusted sources.
  • Make a pros and cons list, prioritize your needs, and trust your instincts.

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House Survey: When Do You Need a Property Survey?

A property survey defines a property's boundaries and features. It's basically a detailed map and legal document that shows dimensions and structures, helping prevent disputes and clarify land ownership. There are many financial benefits to owning a home, but as a homeowner, it's vital to know exactly what you own. Discover why property surveys are an important part of home ownership.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

Property Survey Highlights

  • A property survey accurately depicts property boundaries and features, which is essential for avoiding disputes and ensuring legal clarity.
  • Different types of property surveys, such as
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How Much Do You Need for a Down Payment for a House in Calgary?

In Calgary, the minimum down payment for a home depends on its price: 5% for properties up to $500,000, 10% for any portion above that, and 20% for homes over $1 million. Additionally, buyers making a down payment of less than 20% must also obtain mortgage insurance, typically through CMHC. Are you trying to figure out how much you can spend on a house? Here's what you need to know about making a down payment on homes for sale in Calgary.

For informational purposes only. Always consult with a licensed mortgage or home loan professional before proceeding with any real estate transaction.

Key Takeaways

  • In Calgary, the minimum down payment is 5% for homes up to $500,000, increasing to 10% for amounts above that and 20% for homes priced at $1
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Tips to Buy in an Age-Restricted Community

When considering buying a home in a 55+ community in Canada, it's essential to understand what sets these age-restricted developments apart from traditional neighbourhoods. Designed with the needs and lifestyles of older adults in mind, these communities offer a unique blend of amenities, social opportunities, and conveniences that cater specifically to older residents. However, it's important to weigh the benefits and potential limitations, such as property restrictions and community rules, before making this significant investment. This guide will walk you through the key factors to consider when buying a home in a 55+ community.

6 Factors to Consider When Buying in a 55+ Community

  • Understand the community’s amenities, regulations, and
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