Calgary has been growing for over a hundred years. The rush to the suburbs that Canada and the U.S. share is slowing down. Millennial buyers in their late 20s and early 30s want a shorter commute, more amenities (even in place of more space) and less maintenance. What are the best options for these home buyers? Where can you find the best deals among the Calgary homes for sale?
If you want to own your home but don’t want a yard, you can consider buying a condominium. Check out Alberta Real Estate Group.com. Condos can be ideal for those who want to ditch the rent payment and build equity, assuming you don’t need a yard for the kids or pets. This issue can be minimized by finding a Calgary condo located near a park. For many potential home buyers, condominiums can bring money saving amenities like a pool, gym, errand running services and extra security. The oil patch boom raised real estate prices throughout Calgary, and the oil boom bust as oil prices fell dramatically have taken a greater toll on condo prices. If you want to buy a condo in Calgary, condo prices fell 8% from spring 2014 to spring 2015. You’ll be able to find a good deal on a condo today, and you are likely to find a premium unit in your price range today. Work with your real estate agent to find properties that meet your needs, have affordable maintenance fees and aren’t likely to be turned into apartments or suffer due to high vacancy rates.
You can find smaller homes built with several hundred square feet to fifteen hundred square feet just outside of down town. They have less closet space and fewer outlets than the modern home owner demands, if they haven’t been retrofitted. Such homes may have an added on garage, renovated kitchen, added on bathroom or carport. The benefits of such properties include a short commute to downtown and more yard than a modern house built to fill out the lot. Such older properties are perfect for a couple or small family. You’ll find many such homes constantly available on the market because many buyers want as big a house as they can get. The supply will remain strong as older Baby Boomers retire to condos where they don’t have to deal with home maintenance.
What if you want a larger home? Calgary real estate prices have dropped several percentage points since spring 2014. However, they aren’t going to fall thirty, forty or fifty percent. The energy sector provided many high paying jobs, but Calgary’s economy is not as dependent upon oil as Alaska or the Canadian Prairies. Calgary real estate remains cheaper than the Canadian average, and a dip in prices makes new home prices simply a better deal as long as your own income is reliable and secure. This makes 2015 a great time to shop Calgary homes for sale.