Facts and tips about buying a home in Calgary

Fact 1: In order to buy a home in Alberta, a minimum of 5% down payment is required.

Fact 2: The Canada Mortgage and Housing Corporation recommends putting aside at least 1.5%-4% to cover sometimes-expensive closing costs.

Fact 3: The average price for a home in Calgary in 2016 is $478,882*.

Tip 1: Get pre-approved for a mortgage before you call an agent.

Tip 2: Decide what are wants and what are needs before you look at listings, to help stay mindful of your budget.

Tip 3: Purchase a home that you can see yourself living in for at least 5 years.

*http://www.creb.com/Seller_Resources/Housing_Statistics/