A CBC News article dated November 14, 2013 discusses the increasing difficulty of purchasing a house in Calgary. Considered a hot location to move into, Calgary’s homes have bumped up in value considerably, raising the bar a little too high for some. The article points this trend out:
“The gap between housing prices and income was widening and widening — making it harder for people that had real jobs to actually get ownership in Calgary,” he said. “We certainly have noticed just in the last six months of this year that that has got even larger.”
This year, the average home in Calgary sold for more than $517,000. An average townhouse costs $341,000 and an apartment-style condo costs nearly $300,000 on average.
Watson says home ownership in the city may be out of reach for Calgarians with moderate incomes.
“You end up seeing larger cities that are based with very rich people at the top and very poor people at the bottom, and the people that make the city run can’t afford to live there,” he said.
Those just about to purchase their first home in Calgary might feel intimidated by the current state of the housing market. It’s no joke to sink a sizable amount of money into a house, so buyers must be prepared to make the right purchase at the right price. Although the market might appear grim, there are still numerous houses for sale in Calgary that are fairly priced, provided that buyers can find these elusive opportunities.
The key to making a good purchase is to work with a skilled real estate agent. Such an agent can be tasked to find homes that match the specific preferences of a buyer (such as an affordable lot) as well as detect any faults a particular property may have. Buyers who want to take a tour of a house they find interesting can rely on a real estate agent to showcase the property.
More importantly, real estate agents can help buyers and sellers negotiate on the price of lovely Calgary houses for sale. The professionals can also get in touch with title agents and home loan lenders in order to close the transaction; a task that can be tedious for homeowners to do on their own. All these advantages considered, serious home buyers should coordinate with a capable real estate agent such as Christine Ordze for a worry-free property acquisition.
(Article Excerpt and Image from Calgary’s hot market challenging for 1st-time home buyers, CBC Calgary, November 14, 2013)