Top 5 Considerations When Buying a Home in Calgary

The good news: there is more than enough to go around! The current oversupply of housing has shifted the market trend to a buyer’s market in Calgary. However, you should always exercise caution when purchasing a home. These are the top 5 considerations when buying a house or condo for sale in Calgary.



1.    Location

The location of your home is a key factor and must suit all your needs. This includes surrounding areas like schools, parks, grocery stores, etc. It’s also a great selling point, and while you may not be thinking that far ahead, being aware of this is critical when purchasing your home or condo in Calgary. Once you’ve decided on an area, talk to the Mel Star Team and they’ll use your criteria to pick out listings of interest.

 

2.    The Age of the Property

While age is just a number, it’s an important one when looking to purchase a condo or home. When looking at MLS Calgary listings, you need to know what type of home you are looking for, and the associated pros and cons. For example, buying an older home may require renovations, which adds to the total cost, while a new house for sale in Calgary would have proper upgrades. With a condo, maintenance requirements and fees may be higher if it’s an older building. Taking these factors into consideration will help you be prepared.

 

3.    The Style of the Property

The appearance of a home or condo building is the first thing that you and others will notice. The style of your home is important when figuring out the type of space you want. A condo may be more suited to people who want their own place without having to worry about exterior maintenance. A house may be a great choice for a family, and if you’re looking for more privacy. Another factor is figuring how much and what type of space you need. A home that’s too small could leave you struggling to find more space. This decision can take some time, and the Mel Star Team is there to provide a list of pros and cons for each style of home.

 

4.    Buying Within Your Budget

Your budget is the most important element to consider before buying Calgary real estate. There are other costs besides your mortgage payments, including property taxes, utilities, and if you're in a condo, condo/maintenance fees.  

Leaving some breathing room in your budget may help you in the long run, as you may need to dip into some savings if there’s an unexpected occurrence.  The median home price in Calgary is expected to fall 2.3 percent by the end of 2019; however, the average residential sale price will remain flat in 2019 due to low consumer confidence by weak oil prices, as well as new mortgage regulations impacting sales. This could affect your budget planning, so it’s a good idea to keep track of these trends. The Mel Star Team is here to offer market updates for a house or condo for sale in Calgary and can help you in your budget planning.

 

5.    The Value of Your Property

When purchasing a house or condo in Calgary, remember that real estate is much more than a want; it’s an investment. Selecting a property that’ll increase in value over time might be tricky but with Calgary currently being a buyer's market, and with the help of the points stated above, you are sure to find a home within your means that will only increase in value in the future.

Everyone can have their dream home within their ideal budget. The Mel Star Team will help you focus on what's important and help invest your money the right way, giving you the home you and your family have always dreamed of. Please visit https://www.melstar.ca for more information.

 

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