29 Jul How homes in Calgary AB Became a Must-Have Investment
Calgary is known for big ups and downs in its economy. This is mostly because the city depends a lot on oil and gas. When oil prices drop, the economy slows. When prices go up, things get busy again. These changes also affect the housing market. In 2015, homes in Calgary AB were more affordable. Home prices were lower, and interest rates were low, too. Back then, the average monthly mortgage payment was around $2,046. Today, that number has gone up to over $3,300. Even though the monthly payment is higher now, people still want to buy homes in Calgary because the pricepoint remains more affordable than other cities.
Buyers Think Differently Than Before
Ten years ago, most buyers asked what their borrowing limit was. They wanted the biggest home they could get. Prices were low, and monthly payments felt easy. Now, buyers are more careful. They focus on how much they can pay each month, not just the total home price. This shift in thinking shows how much the market has changed.
Interest rates have gone up since 2015, which means homes cost more to own, even if the price doesn’t rise much. But Calgary still looks like a better deal compared to Toronto or Vancouver, where monthly payments are even higher. That makes houses in Calgary AB, seem like a better choice.
Because homes cost more now, many people are choosing smaller places. Some buyers stretch their budget to get a detached house, even if it’s not huge. Others look at longer mortgage terms to keep monthly costs lower. Even though it’s harder to buy, people still want to own in Calgary. This is because of the belief that in the long run, these homes will be worth more.
Contact me Today!
Calgary’s market remains a promising one to invest in. If you’re looking to purchase a home in this fast-growing city, contact me today! I’d be happy to help you find the perfect home for your family. Be sure to check out my social media for the latest updates and more.
FAQ on Homes in Calgary AB
Why are homes in Calgary AB getting more popular?
Even though prices have gone up, Calgary is still cheaper than cities like Toronto or Vancouver. People see it as a better deal.
Is it harder to buy a house now than in 2015?
Yes, it is. Prices and interest rates are both higher, so monthly payments cost more.
Are people still buying?
Yes. Buyers are just more careful now. Many choose smaller homes or longer payment plans to make it work.