Hello Mortgage - Good-Bye Rental
Each month, we're seeing more and more people taking the plunge from renting to buying their first Calgary home. It's not surprising, considering some of the great prices on the market.
According to a recent survey by Bank of Montreal, first-time buyers have a budget of approximately $300,000 for their first home. This is a Canadian average that ranges from $156,119 in New Brunswick to $529,922 in British Columbia. Here in Alberta, the rate is $378,685.
I thought I'd take a look and see how realistic that figure was for our Calgary buyers. Is it possible to get a nice starter home in a decent neighbourhood for under $380,000?
Using a price range of $365,000 - $380,000 - here is a sampling the sizes of homes…