The first-time homebuyers guide to Calgary

There’s a first time for everything, and just like riding a bike, driving a car, or learning to swim, the prospect is scary at first, but often, it’s just a matter of getting through with it. It’s much the same as buying a first new home – the stakes may be higher, but the reward is life-changing.

First-time homebuyers are the lifeblood of the new homebuilding industry, and right now there are a lot of them. Alberta’s strengthening economy continues to attract a record number of migrants from all parts of the country - and even from outside of it.

Alberta is still the only province without a provincial sales tax. There is also no payroll tax or health premium, as well as a low provincial income tax, making it an extremely desirable place to live with a strong economy and high demand for employment.

Calgary in particular offers affordable housing and has a relatively low cost of living compared to other major Canadian cities, making it an affordable place to live for people of all income levels. Also, it’s diverse and multicultural population makes it an obvious landing spot for everyone looking to start fresh.

So, whether it’s a local buyer trying to get out of the rental cycle, or someone entirely new to the city looking to own a home for the first time, here’s some advice from new home industry experts who know the market best.

Why buy now?

Affordability is always the main concern for many first-time homebuyers, the question of finances and having enough to actually build and live in a new home will always be the toughest hurdle in any homebuying decision.
Max Conrad, Marketing Manager at Morrison Homes, advises that it’s aways a good time to buy a new home, but getting the finances in order is important.

“It’s always a good time to get into the market if you are able. You can start building equity on your new home rather than paying rent,” he says. “Ensuring you have your mortgage approval ready and have started working with an Area Sales Manager on your community and model of choice, so when a home becomes available, you’re able to move forward on your dream home.”

Calgary makes it easy for first-time homebuyers to find their dream home as there is a wealth of options to choose from. The new communities sprouting in and around the region offer a variety of starter homes – from apartment condos, townhomes, and single-family duplex and laned homes - giving everyone a chance to find the appropriate home for to fit their lifestyle and budget.

Adding fuel to this growth is the completion of Calgary’s ring road, which has improved accessibility from almost any part of the city and even the furthest communities from the downtown. Everyone now has an easier time getting anywhere in the city, spurring the growth of new communities in the periphery of the city.

Right timing

Carmen De Luca, director of Sales at Trico Homes, says it is “absolutely” the right time to buy your first new home right now.

“The current booming market and steady price increases indicate strong demand and potential future appreciation in property values,” she says. “While low-interest rates can certainly make homeownership more affordable, the current market conditions still present opportunities for buyers to build equity over time. With the lack of inventory, particularly in desirable areas, getting into the market now allows first-time buyers to secure their foothold in Calgary’s competitive real estate landscape before prices potentially escalate further.”

Excel Homes’ Marketing Manager, Kristina Plank, agrees. “It is a great year for first-time new home buyers to get into the market, as interest rates are expected to stabilize, providing more peace of mind. With high migration rates to Calgary from other provinces, the home prices in the city are expected to increase later this year, making now the best time to buy.”

The first-timer’s perfect home

Calgary’s new homebuilders cater to the tastes and budgets of first-time homebuyers. Affordability is key, so there are single-family homes on zero-lot lines that offers considerable savings on land costs. Choosing a multi-family home like townhomes (both no condo fee and those with condo fees are widely available) can be more budget-friendly. There are also plenty of models that can suit the first-timers lifestyle better.

Morrison Homes have duplex homes and laned homes to suit different budgets, and all are in high demand, especially the duplex, which almost always sell out as quickly as they can make them.

“Laned homes, which are perfect for the first-time homebuyer, remain our most popular options. Not only do these home types offer a considerable amount of space, but they also often allow for basement suite developments with side entries,” he says, which opens up possibilities of renting out the extra living space and help with mortgage payments.

“Our brand-new Ledger laned home model, whose show home just opened in Cornerstone in the northeast has proved to be a popular choice among buyers. Other popular laned homes include the Arista and Nixon,” he says.
Excel Homes also says their duplex homes are very much preferred by first-time homebuyers. Their 35th anniversary models – the Cohen and The Nova – released last year were designed with first-time homeowners in mind.

“They were designed from years of feedback from our customers and specifically to accommodate their needs for a more functional and affordable home. Both duplex models are spacious and versatile, offering many options for personalization like adding a basement suite,” Plank says.

Townhomes are a popular option too. Trico’s De Luca says their new townhomes offer some of the best features first-time homebuyers will instantly love.

“Our townhome models offer a perfect balance of affordability, functionality, and modern design, making them attractive options for first-time buyers who are looking for quality construction and contemporary features within a reasonable budget.”

One of their latest developments is Colours of Seton townhomes in the vibrant southeast community of Seton. It offers two- and three-bedroom townhomes from the mid $400,000s.

The importance of community

Choosing the right community is an integral part of the search, and De Luca says Seton checks a lot of boxes for fist-time homebuyers.

“Seton offers a vibrant urban lifestyle with a range of amenities, including shopping centers, restaurants, parks, and recreational facilities, all within walking distance. Essential factors for first-time buyers to consider when choosing a community include proximity to employment opportunities, access to public transportation, quality of schools, safety, and future development plans. Seton ticks all these boxes.”

Morrison’s Conrad agrees that choosing the right community can never be understated. “We spend a considerable amount of time when selecting which communities to build in, considering parks, schools, walkable amenities and much more. Where you buy is going to be based on many factors, like where you work, or where your family is, so it’s important to consider those factors when selecting your new community.”

Morrison Homes recently launched laned homes in the beautiful community of Sirocco in West Macleod. “This community offers some of the best access and amenities in the city, with Macleod Trail, Spruce Meadows, Sirocco Golf Club and shopping all within minutes of your front door,” Conrad says.

Having a wide reach helps. Excel Homes builds in some of the best and newest communities in and around Calgary. Their homes can be found in Livingston, Carrington, Homestead, and Savanna in North Calgary; Mahogany, Rangeview, Creekstone and Silver Spruce in South Calgary and Cobblestone Creek and Chinook Gate in Airdrie.

“First-time home buyers should determine what is most important to their lifestyle such as recreation centers, schools, parks or outdoor spaces. Other things to consider when choosing a community is the proximity to nearby amenities and stores, as well as the commute time to work,” Plank says.