BUYER'S GUIDE
Choosing to buy a home is one of the biggest decisions you'll make in your life. It's a complex ordeal that requires a lot of planning, and instating the help of a knowledgeable Real Estate Agent to make the process run smoothly. To ready you for this, here is a general overview of what to expect and prepare.
Get Your Finances In Order
The first thing you'll need to do is put money aside for a down payment. This amount is (at minimum) 5% of the purchase price of the home you're planning to buy. Second, you'll need to meet with a mortgage broker to determine what you can afford. Shopping around for the best rate is highly recommended.
Visualize Your Dream Home
Once you've established a price range, it's time to decide what type of home will best suit your lifestyle. Think about things like access to schools, recreational facilities, what the neighbourhood is like, and so on. Why you're choosing to buy should help answer these questions for you — so think about it carefully. You may want to put this down in writing and create a needs v/s wants list.
Meet With a Real Estate Agent
It's important to partner with a Real Estate Agent you feel completely comfortable with. A REALTOR® can help you find your dream home, that meets both your needs and your budget. They will set you up with viewing appointments, and also help bring clarity to the complicated process of buying a home. You'll want to go with an experienced and knowledgeable REALTOR® who you can be sure will represent your best interests.
The Search
Using the property search on this site and consulting with your Real Estate Agent, you will be able to find homes in your desired area. They'll update you frequently regarding new listings and schedule you appointments with sellers.
Closing
Your Real Estate Agent can help you place an offer that the seller will either accept, counter, or reject. After you've negotiated an offer, you'll need to conduct a home inspection and deal with any repairs (the cost of which you can also negotiate with the seller). Finalize your mortgage with a visit to your lender, and you're ready to sign off on ownership. This typically takes place in a lawyer's office.
At this point, congratulations are in order! Becoming a new homeowner is one of the most liberating things you'll ever experience. There are many benefits to home ownership — pride of ownership, the ability to make home improvements, building equity, appreciation — the list goes on.
Calgary Home-Buying FAQs
How much down payment do I need to buy a home in Calgary?
The minimum down payment in Calgary, Alberta follows Canadian federal rules: 5% on the first $500,000 of purchase price, and 10% on the portion between $500,000 and $1.5 million. Homes priced above $1.5 million require a 20% down payment. Most Calgary inner-city homes priced over $1 million require buyers to bring 10–20% down.
Do I need to get pre-approved before house hunting?
Yes. A mortgage pre-approval confirms how much you can borrow, locks in a rate for 90–120 days, and signals to sellers that you're a serious buyer. In competitive Calgary inner-city markets like Altadore and Marda Loop, sellers routinely reject offers without a pre-approval letter attached.
What closing costs should Calgary buyers budget for?
Plan for 1.5–4% of the purchase price in closing costs: legal fees ($1,500–$2,500), title insurance ($250–$500), Alberta Land Titles registration (sliding scale), property tax adjustment, home inspection ($400–$700), and a possible CMHC insurance premium if you put down less than 20%.
How long does it take to buy a home in Calgary?
From signed offer to possession typically takes 30–60 days. The full process from getting pre-approved to receiving keys usually runs 60–120 days, depending on how quickly you find the right property and how the conditions period (financing, home inspection, condo doc review if applicable) plays out.
Should I waive the home inspection condition to make a stronger offer?
Almost never. Even on newer infills, inspections regularly find issues with grading, drainage, electrical, or HVAC. The 4–7 days a condition adds is small protection against six-figure surprises. A better way to strengthen an offer is a larger deposit, shorter conditions period, or a flexible possession date — not removing inspection.