With its proximity to the Rockies, Calgary sits close to the United States. It is ideal for those looking to move away from the crowds and heads towards a more tranquil, cleaner city. Calgary is voted third on the Global Livability Index by the Economic Intelligence Unit. It has lots more going for it if you’re looking to invest in real estate in this Canadian city.
Calgary is divided into four areas; the West End, Abbeydale, Livingston, Southside, and Bonavista Downs. Compared to other cities in Canada, Calgary has lower house prices. The Canadian Real Estate Association in 2021 stated that real estate in Calgary is on the rise. They noticed a 21% rise in the real estate market.
Whether you are considering moving to this vibrant, economic hub of Canada to retire or for work purposes, this article is most beneficial to you. It highlights a few points for you to consider regarding why investing in real estate in Calgary is worthwhile and advantageous.
The Best Places In Calgary To Invest In
With a population of 1.3 million, Calgary is one of Canada’s cleanest, most affordable cities. Four areas in Calgary have the lowest housing prices in Canada.
So, whether you are looking to move to Calgary for work or study purposes, here is a brief breakdown of why investing in real estate in Calgary is a good idea and where you can find houses that fit your budget.
1. Real Estate Investment In Calgary
Many people, including Canadian residents, are moving out of the cities to the smaller towns. The housing market in Calgary right now is perfect for anyone who wants to acquire real estate.
2. Calgary Has Lower Taxes
Calgary residents only pay a 5% GST tax (Goods and Services Tax) and not the Provincial Taxes like other Canadian cities do, which makes Calgary a very affordable city to live in.
3. Calgary Is Voted As Cleanest, Environmentally Friendly City
Forbes magazine voted Calgary as the cleanest city in the world. Several recycling programs are in place to maintain cleanliness and strive to be a green city.
Electricity harvested through wind power powers the C-train. Calgary also has the first wind-powered train system in North America. This initiative has drastically reduced harmful carbon dioxide emissions.
Due to the mountains, Calgary possesses the cleanest water and freshest air. A huge bonus for those who live with the smog and air pollution from the big cities.
The Best Places In Calgary To Invest In Real Estate
Housing costs in Calgary are less than those in Vancouver or Toronto. Here are a few areas for you to look at if you’re looking to invest in real estate in Calgary. These areas are affordable and safe, have low mortgage rates, easy access to the transport system, and excellent schools.
· Bonavista Downs
· Patterson Heights
Requirements For First-Time Home Buyers
Purchasing your first home can be exciting. It can also be scary and daunting if you don’t know what to look for. Here are some helpful suggestions for you to consider before you purchase your first home in Calgary.
- As a first-time home buyer, real estate agents require you to have full-time permanent employment, part-time income, or self-employment.
- You must have a good credit score.
- Real estate agents require a down payment of approximately 20% of the required sales amount.
- The resident is required to live on the property for approximately 5-7 years.
- The sale is dependent on the approval of the mortgage.
Calgary has several factors going towards making it one of the world’s best cities, from the clean air and water to an excellent rail and transport system, not forgetting their indoor and outdoor activities.
The Calgary real estate market is hot right now, and it likely will be for the foreseeable future. The opportunities for real estate in Calgary are endless, with options available downtown and in surrounding areas. It’s the opportunity to live well and the desire to stay on top of the ever-changing city that balances out living in Calgary.