A Calgary home purchase income guide

Many would-be homebuyers find the home of their dreams, only to wonder, “can I afford it?” Canada Mortgage and Housing Corp., as well as many major banks, recommend spending no more than 30 per cent of income on housing, including mortgage (principal and interest), property taxes, insurance and utilities. To help, we did the math for a typical detached home in each region of the city.

  • Required Down Payment: $34,461
  • Recommended Household Income: $155,760

North East

  • Required Down Payment: $18,738
  • Recommended Household Income: $87,520

West

  • Required Down Payment: $36,653
  • Recommended Household Income: $165,240

South

  • Required Down Payment: $23,670
  • Recommended Household…

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For many homebuyers, especially young families, nearby schools are a major factor when it comes to choosing a house and neighbourhood. While Calgary is full of older, established schools, there are also several new schools that have recently opened or are slated to open soon – many of them in Calgary’s newest communities. Here are the Calgary Board of Education and Calgary Catholic School District’s new-school projects.

All Saints High School
Legacy
Anticipated opening fall 2018
Grades 10-12

Auburn Bay School
Auburn Bay
Anticipated opening fall 2020
Grades K-6

Blessed Marie-Rose School
Sherwood
Anticipated opening fall 2018
Grades K-9

Coventry Hills /Country Hills Village Second Elementary School
Coventry Hills
Anticipated opening TBD
Grades K-4

…

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City council’s recent approval of 14 new suburban communities is a vote of confidence in Calgary’s future.

“It is an overall good news story,” said Matthew Sheldrake, City of Calgary growth strategies and geo-demographics co-ordinator, of the communities approved in July.

The decision, he says, reflects improving economic and population growth numbers, and hits planning objectives of balanced growth in both new and established communities, while indicating Calgary is “open for business,” rather than pushing new development (and tax revenue) to outlying municipalities.

The communities also mesh with the Municipal Development Plan’s emphasis on densification. If all 14 communities proceed over the next decade, they will bring 20,000 to 25,000…

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If you need to upsize or you’re simply ready for a change, it’s tempting to consider a major renovation. After all, renovating means you don’t have to go through the process of selling your property and buying another more suitable home. You just fix up the one you’ve got! However, you need to carefully consider the pros and cons of renovating before going this route. You don’t want to invest in a costly renovation only to end up with a home that still doesn’t meet your needs. Say, for example, your current property doesn’t have a home office. Since all the bedrooms are taken, you decide to renovate a portion of the basement. Building that new home office may seem like a simple project, but once you consider new electrical, flooring, lighting, etc., it…

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When you’re selling your home in a buyers’ market, the subtleties of staging can make a world of difference.

Accessories
“You can add visual interest and help make your home photos pop with colourful toss cushions, a bowl of fruit or even some nice books on a shelf,” said Ball. “My favourites are small fake plants placed in the bathroom or on an end table. Whatever you choose should have some flash without going overboard.”

Lighting
“Side table lamps create instant warmth as soon as people enter the home and make it easier to picture yourself living there,” said Ball. Be sure to have lights on a timer, as Realtors might not turn all the lights on when they show the home, especially during the day. You might also add a mirror in the front entrance that…

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