According to an article in the Calgary Economic Development, Calgary is ranked among the world’s safest, cleanest, and healthiest cities in different international studies. Many students who study at the University of Calgary prefer to settle in Calgary after graduation. The town has many lakeside properties, fitness centers, health centers, and parks that make it an ideal place to relocate. The second half of 2020 is the best time to search for new homes for sale in Calgary.
The prices have declined, and the rate of interest on loans has also dropped considerably. The average price of a home in Calgary in May 2020 was $438,854. And the condos and attached homes costs were around $473,030.
If you search for the properties online, you may find a variety of them. But it is necessary to check a few crucial things before you finalize a property.
Conduct a Thorough Research
Look for different house-listings in Calgary. Shortlist the neighborhoods where you wish to buy a house. Beltline, Signal Hill, Arbour Lake, Downtown, Brentwood, Crescent Heights, Huntington Hills, and Bridgeland (Riverside) are the top ten best neighborhood communities in Calgary.
Your research will help you in shortlisting which place is convenient to travel from work. Does it fit in your budget? Is the property big enough to accommodate a big family? Are the schools or colleges nearby? Are there supermarkets nearby? Etc. Some of these primary questions must be answered in your property research.
Hire a Property Agent
Get help from your friends and family in hiring the best property agent. You need a trustworthy agent who will assist you in searching for the best property in Calgary. About 13% to 28% of Calgary people prefer an agent to do the property research job.
Most of the agents are aware of which area has houses on resale and which have the new ones. If you are a first-time buyer, then you must look for new homes for sale in Calgary. The agents are well-informed about the taxes, property laws, lien laws, and transfer laws. It will help you in sorting out the property issues in advance.
Consult a Loan Provider
Ask your bank if they can offer you a home loan, you need to get pre-approved before finalizing a property. The average mortgage debt of Calgary citizens ranges between $89,000 to $178,000.
So, the mortgage broker may be more cautious and calculate the loan they can provide based on the last three years of total income. Once you learn about the amount that can be approved, you can negotiate with your estate agent.
Getting a property inspected is necessary before you make the final decision. New homes may also have some dysfunctionality that you may learn after you buy the house. Therefore, it is necessary to get the house inspected thoroughly for leakage, ducting or plumbing issues, surrounding areas, lawns, pavements, water supply, electricity supply, gas supply, etc.
In Calgary, it takes two or three hours to inspect a single-family house. If it is a new property, you don’t have to worry about lien issues or transfer issues. But then too, the inspection has to precede the property purchase.