How to Buy a House in Calgary the Easiest Way

As a first time home buyer in Canada, Alberta has so much to offer. That’s why we published this guide on how to buy a house in Calgary the easiest way!

No more confusion or technical jargon, we’re simplifying the home buying process so you can focus on finding your dream home!

The Calgary home buying process goes as follows:

• Find the Best Place to Live in Calgary (for you and your family)
• Review Your Down Payment Savings Plan and Progress
• Get Pre-Approved with the Best Lenders in Calgary
• Submit a Deposit with Your Offer to Purchase
• Get the Home Inspected and Appraised
• Plan for Closing Costs, Property Taxes, and Potential Renovations

Find the Best Place to Live in Calgary for You (And Your Family)

Calgary is one of the best places to live in North America. It’s safe, scenic, and has a growing and diverse economy. Add on a few pro sports teams, and its proximity to the Rocky Mountains and you have a city that’s hard to beat!

If you’re looking to move to Calgary, you should know that different neighbourhoods serve certain lifestyles better than others. For a full list of the best and most relevant neighbourhoods for you to buy a home in, stay posted for our review on the best places Calgary has to offer.

Where to Live in Calgary for Young Professionals

A neighbourhood like Mission is a great place to live as a young professional without a family.

Mission is in the inner city of Calgary, and has plenty of beautiful condos that are regularly listed in the $200-$300K range.

Where to Live in Calgary for Families

If you and your family are looking for a place to settle for the foreseeable future, you can’t go wrong with a neighbourhood like Signal Hill.

Signal Hill is a community of around 13,000 people, and primarily consists of family households. It’s close to many of the best schools in the city, and has plenty of shopping and access to public transportation for your daily commute.

Review Your Down Payment Savings Plan and Progress

After you figure out which neighbourhood you want to move to, you’ll need to determine what you’ll need/are willing to spend on your new home.

Depending on when you started saving for your down payment, you’ll need to take stock of what you’ve saved, or how much left you need to set aside before you make your move.

The good news is that Calgary is extremely affordable compared to markets like Vancouver and Toronto.

This means that the saving and budgeting you started for your down payment years back can go much further than if you were to be purchasing in other markets.

If you aren’t ready to start the home buying process but are ready to start saving to make the big purchase one day, read our article on budgeting and saving called how to fight inflation at home!

When you’re saving for your down payment, make sure that you identify what is a necessity and what is a luxury that you can live without for a little while. Bringing it down to the bare essentials will help you reach your goals faster, so sacrifice what you can – we promise it’ll be worth it!

Get Pre-Approved with the Best Lenders in Calgary

Lucky for you, Sherwood Mortgage Group is licensed in Alberta, and we can work with you to get you pre-approved for funding from one of our outstanding lending partners.

We will work with you through every step of the process, so if you’re a first-time home buyer, you have nothing to worry about.

At Sherwood, we pair you with the perfect lender and mortgage product for you and your individual needs, unlike big banks who are forced to push specific untailored products on you.

Submit a Deposit with Your Offer to Purchase

When buying a home in Calgary, or anywhere in Canada for that matter, you’ll need to submit a deposit with your offer to purchase.

This deposit lets a seller know that you mean business, and it will only be cashed when the offer is firm.

Get the Home Inspected

After identifying where you want to move, getting pre-approved, and submitting a deposit with your offer to purchase, you’ll need to have a home inspection.

An inspection works as protection for you so you don’t purchase a property with serious problems that wind up costing you serious money down the road.

Plan for Closing Costs, Property Taxes, and Potential Renovations

After all of these considerations, you’ll also have to plan for closing costs and the costs that will come with homeownership.

One great aspect of buying a home in Alberta is that there are no land transfer taxes that you would typically need to plan for in provinces like Ontario and British Columbia.

Typical closing costs include:

• Title Insurance
• Home Insurance
• Lawyer’s Fees
• Moving Costs
• Incidentals

Once the home is in your possession, you’ll need to make sure you’re ready for the additional monthly costs aside from your mortgage.

These costs can include:

• Property taxes
• Utilities
• Maintenance fees
• Renovations that need to be made to make the house really feel like your own!

Are You Ready to Start Looking to Buy a Home in Calgary?

Give Sherwood a call at 1-(877)-241-6001 to speak with a mortgage specialist and start building a plan to become a homeowner in beautiful Calgary, Alberta.

Whether you’re a first-time home buyer, or a current homeowner looking for a fresh start, we can help you buy your dream property!