Luxury Feature
community cornerstones A look at Calgary and area’s rich history of both new and old corner stores.
to a t Gardening tips to fit your neighbourhood donna balzer A13
A6
A10 – A12 FREE may 1 to may 7 2015 issue 05-16 editorial 403-781-1324 advertising 403-263-4940 crebnow@creb.ca
real estate news from industry experts
getting ‘Buy’
with help First-time homebuyers turning to mom, dad for financial assistance Cody Stuart
managing editor
M
ore young Canadians are turning to their parents to help find financing when purchasing their first home. According to BMO’s 2015 Home Buying Report, 42 per cent of first-time buyers are expecting their parents or relatives to help pay for their first home. Up 12 per cent from last year, the number shows Canadians needing a helping hand to enter the market is on the rise. “Because of my parents help, I was able to afford a higher-priced home and have smaller mortgage payments - which is what I notice the most in terms of saving money right now,” said new homeowner Ashly Streeton, one of
those who benefited from the benevolence of her parents. Streeton, who recently purchased a condo in Connaught, said her parents helped by doubling her down payment to 20 per cent, not only reducing her mortgage payments but also allowing her to expand her search. “I would have only put either five or 10 per cent down if I didn’t have help with my down payment,” she said. “At first I started looking at condo’s below $300,000 because I didn’t know the amount [my parents] would be giving me and that’s all I could afford on my own. Once they came around to deciding on an amount to give me, I started looking at places that were up to $350,000.” The report also revealed half of those surveyed said they would not have been able to afford a home without outside help, despite the fact both first-time and move-up buyers reported spending less on their homes. First-time buyers depending on family help expected family to pay an average of 12 per cent of the average cost of a home toward their purchase. Meanwhile, current homeowners depending on family help to upsize expected family to pay an average of 20 per cent of the average cost of the home. According to the survey, first-time buyers’ budgets have decreased slightly to $312,700 in 2015 from $316,100 in 2014. Upsizers plan to spend $473,900 this year.
With some help from her parents, Ashly Streeton was able to buy a home with a larger down payment.
contents City encouraging Calgarians to tidy up
MLS® TOTAL SALES* MAR ‘13 – MAR ‘15
news briefs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A3 Election
municipal. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A5
1782
1779
1217
MAR13 APR13 MAY13 JUN13 JUL13 AUG13 SEP13 OCT13 NOV13 DEC13 JAN14 FEB14 MAR14 APR14 MAY14 JUN14 JUL14 AUG14 SEP14 OCT14 NOV14 DEC14 JAN15 FEB15 MAR15
880
1082
1172
1439
1724
RESOLVE donation
2145
2146
2263
2328
2664
2539
2481
five things. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A4
1850
1948
1918
2190
2305
2535 2265
2106
2374
2945
CITY OF CALGARY
*All statistics based on monthly data compiled by CREB® via MLS® activity. Includes detached, attached and apartment.
Hillside Woodland Home
EXQUISITE
COUNTRY
LIVING
38 Elk Willow Road
affordability A3
Lee Edwards 403-540-0540
weekly feed. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A6
L
andfills will waive fees for all garden materials until May 31. Calgarians eager to get started on their spring clean-up will receive a helping hand from City Hall. Until May 31, all three City of Calgary landfills will waive fees for residential loads of leaves, branches, plants and other garden material.
municipal A3
$769,000
Enjoy this modern, extensively renovated, hillside home in its woodland setting in Elk Valley Estates. A south-facing 1100 sq. ft. wrap around deck ensures a sunny enjoyment of the outdoors. The flow of windows and skylights overlook an environmental reserve and a nearby ridge in nearby Kananaskis Park. The large, double French door foyer, which could double as a den/library or sitting area, leads to the huge great room with Mannington hardwood floors and ceiling vaulting to the open landing of the second floor. The nearby dining room extends to the peninsula kitchen featuring loads of counter-space and a gas range with its own grill. A large laundry/mud room and a powder room complete the main level. MLS® C4002380
CANYON CREEK
event listing. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A6
CREB® STAFF
mortgage rates. . . . . . . . . . . . . . . . . . . . . . . . . A8 commercial. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A14 map . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B1 open houses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B23 @crebnow
/crebnow
Relaxing Wilderness Setting
225 Mountain Lion Drive
crebnow.com
$839,000
A river rock facing on the front of the garage, a decorative paver-stone entrance patio with planters that complement the wilderness setting, and multi-level decks make this a very attractive property. The triple front drive heated garage has lots of room for a workshop component. As you move throughout this home, you will be delighted with its many fine features. The kitchen has been renovated & upgraded and has a cozy family room beside it, leading to the huge deck over the garage. The living room is showcased by the large ledge stone fireplace, 3 interior stained glass windows, & the entrance to the den overlooking the backyard. Upstairs, 3 large bedrooms with their wood-covered vaulted ceilings include the expansive master bedroom. MLS® C3654746
lee@braggcreekrealestate.com