INSIDE: FIRST-TIME HOME BUYERS Longtime renter becomes a home owner PAGE A4 Buying a fixer-upper PAGE A5 Deciphering Real Property Reports PAGE A5 First time home buyer moves into a condo PAGE A6 Eighteen questions to ask when picking a REALTOR® PAGE A7
FREE may 26 to jun 1 2017 issue 07-20 editorial 403-781-1324 advertising 403-263-4940 crebnow@creb.ca
real estate news from industry experts
SAYING GOODBYE TO RENT Making the transition from renting to buying is a lot about finding the right location with inventory that fits your budget KATHLEEN RENNE creb®now
A
ADRIAN SHELLARD / FOR CREB®NOW
Jamie Dunsdon wasn’t sure she could afford to buy a home, but after nine years of renting she made the leap and bought an affordable home in Highland Park.
3,136 APR15 3,064 MAY15 3,161 JUN15 3,122 JUL15 2,733 AUG15 3,081 SEP15 2,678 OCT15 2,182 NOV15 1,491 DEC15 2,741 JAN16 2,906 FEB16 3,227 MAR16 3,217 APR16 3,319 MAY16 3,078 JUN16 2,683 JUL16 2,759 AUG16 2,976 SEP16 2,364 OCT16 1,985 NOV16 DEC16 993 2,385 JAN17 2,457 FEB17 3,245 MAR17 3,296 APR17
CITY OF CALGARY
MLS® NEW LISTINGS* APR ’15 – APR ’17
*All statistics based on monthly data compiled by CREB® via MLS® activity. Includes detached, attached and apartment.
s a single female with a career in the arts, Jamie Dunsdon wasn’t sure she could even qualify for a mortgage to enter the property-purchasing arena. “I was afraid the only thing I could afford was something terrible,” said Dunsdon, who is the artistic director with Verb Theatre. After nine years of renting in Calgary, Dunsdon says she had enough of renting at high prices and hopped in the market last summer. As with all folks who are looking to purchase a property, location and budget were a major part of her decision. “The first thing I learned is that I could definitely afford homes in the northeast, or in the far north or far south,” said Dunsdon, adding that she wanted to spend no more than $350,000. “Distance became a thing. I didn’t want to be in the far north or south.” Dunsdon spends a lot of time downtown because of her work in the arts. To help focus her search, she drew lines across a map of
CITY AIMS TO FILL NEED IN AFFORDABLE HOUSING CREB® STAFF
Calgary narrowing down the areas where she was willing to look. Those lines didn’t go farther south than Glenmore Trail or farther north than McKnight Boulevard. However, the closer to city centre she looked, the more rundown the properties in her price range became. “I found houses that needed so many repairs. I didn’t know if I’d have the necessary expertise or money to fix them up,” she explained. While she did find a house in Bowness she loved, it was at the top end of her price range. She also found several homes on the west side of Crowchild Trail that were possibilities. Townhouse-style condos were also considered, but unaffordable condo fees took her down a different path. “I was getting really desperate. I had fallen in love with at least five houses and I lost all of them in bidding wars,” she said. The process of finding an affordable and detached home proved far from easy. Dunsdon even considered the possibility of buying a house with a basement suite that she could rent out to help cover mortgage costs.
HOME BUYER A3
CONTENTS COMMUNITY PROFILE . . . . . . . . . . . . . . . . . . . A2 Watermark at Bearspaw
NEWS BRIEFS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A3 DIGITAL DOWNLOW. . . . . . . . . . . . . . . . . . . . . . A8 Power Savers
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he City of Calgary and the Government of Alberta recently celebrated the opening of the City’s newest affordable housing development in Crescent Heights. Certified silver by Built Green Canada, the development features four studio units, four one-bedroom units, four two-bedroom units and four threebedroom units. Two units are barrier free and one is built to accommodate the visually impaired.
HOUSING A3
CALGARY HOMES. . . . . . . . . . . . . . . . . . . . . . . . . . . A9 Frank Lloyd Wright inspired home
MAP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B1 OPEN HOUSES. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B23 @crebnow
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LOCATION! LOCATION! $1,299,000 LOCATED ON SOUTH MACLEOD TRAIL - 1 ST SE CORRIDOR LEAVING DOWNTOWN CALGARY This character brick and sandstone building offers over 3,288 sq. ft. on 4 developed levels. There is 2,519 sq. ft. above ground and over 900 sq. ft. lower level development. This two and a half storey building was built with double brick and sandstone construction. The interior space offers a main reception area, 7 offices, 2 conference rooms, 2 bathrooms, 2 kitchens, extensive storage and work areas, plus a top floor residential apartment option. There are 4 entrances/exits. Substantially upgraded over the past 5 years. The city mixed use district allows for commercial, residential uses. Situated one block from the LRT station, close to the Stampede Convention Centre, Saddledome, Lindsay Park. Parking for 4 cars, additional 3 could be added. MLS®C4090798
LESLIE KISS 403-861-4035
lkiss@sutton.com sutton.com/sg/lkiss