10 Steps to Buying Your First Home in Calgary

Buying your first home in Calgary is an exciting milestone, but it can feel overwhelming without a clear roadmap. Calgary’s dynamic real estate market, with its vibrant communities like Wolf Willow, Lake Bonavista, and Acadia, offers unique opportunities for first-time buyers. Whether you’re eyeing a cozy condo in Beltline or a family-friendly home in Tuscany, this step-by-step guide will walk you through the process of purchasing your first home in Calgary. Follow these 10 steps to navigate financing, work effectively with a realtor, and close your deal with confidence.

Step 1: Assess Your Financial Readiness

Before diving into Calgary’s housing market, evaluate your finances to determine what you can afford. Start by checking your credit score, as it impacts your mortgage approval and interest rates. A score above 680 is ideal (but not always nessecary, depending on other factors, as well as your tolerence) for securing favorable terms. It's also important to have as little debt as possible. Next, calculate your budget, factoring in:

• Monthly income and expenses: Aim for a mortgage payment that’s no more than 30–35% of your gross monthly income.

  
  

• Down payment: In Canada, the minimum down payment is 5% for homes under $500,000, increasing to 10% for portions above that, up to $1 million.

  
  

• Closing costs: Budget 1.5–4% of the home’s purchase price for legal fees, land transfer taxes, and inspections.

  
  

Pro Tip: Use online mortgage calculators and consult a Calgary-based mortgage broker to estimate your borrowing power.

Pro Tip 2: Contact me if you'd like to be connected to some of the best mortage brokers in Canada. #Calgaryfirsttimehomebuyer #mortgageforfirsthomeinCalgary.

Step 2: Get Pre-Approved for a Mortgage

A mortgage pre-approval is a must in Calgary’s competitive real estate market. It shows sellers you’re serious and helps you narrow your home search to properties within your budget. To get pre-approved:

• Contact a mortgage broker. (avoid simply going to one of the big banks.)

  
  

• Provide financial documents (e.g., pay stubs, tax returns, bank statements).

  
  

• Lock in an interest rate for 90–120 days, protecting you from rate hikes.

  
  

Pre-approval also clarifies your debt-to-income ratio, ensuring you don’t overextend financially. Many Calgary lenders offer tailored programs for first-time buyers, such as the CMHC First-Time Home Buyer Incentive, which can lower your down payment requirements.

Local Insight:

Calgary’s 2025 market is seeing steady demand in areas like Cranston and Seton, so a pre-approval gives you an edge in bidding wars.

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Step 3: Define Your Home Needs and Wants

Create a list of must-haves and nice-to-haves for your Calgary home. Consider:

• Location: Do you prefer urban vibrancy (e.g., Mission, Inglewood) or suburban tranquility (e.g., Auburn Bay, Mahogany)?

  
  

• Property type: Condo, townhome, or single-family home?

  
  

• Features: Number of bedrooms, backyard space, proximity to schools, or access to Calgary’s pathway system.

  
  

Think about your lifestyle. For example, if you love outdoor activities, communities like Wolf Willow near the Bow River are ideal. If you’re a young professional, Beltline’s walkable amenities might be a better fit.

Action Item:

Rank your priorities to streamline your search on Calgary MLS® listings.

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Step 4: Choose the Right Calgary Realtor

A skilled real estate agent is your guide through Calgary’s housing market. Look for a realtor with:

• Local expertise: Knowledge of neighborhoods like Renfrew, Mount Pleasant, or Lake Bonavista.

  
  

• Strong communication: Regular updates and clear explanations.

  
  

• Negotiation skills: To secure the best price and terms.

  
  

I specializes in helping first-time buyers navigate the market with personalized advice and access to exclusive listings. I'll connect you with properties that match your budget and lifestyle.

Pro Tip: Ask your realtor about off-market listings, which are common in competitive areas like Acadia.

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Step 5: Start Your Home Search

With your realtor’s help, explore Calgary MLS® listings to find homes that meet your criteria. Attend open houses in neighborhoods like Tuscany or Evergreen to get a feel for the market. Use online tools like the search feature on Realtor.ca to filter properties by price, location, and features.

Market Trend:

In 2025, Calgary’s southeast communities (e.g., Wolf Willow, Seton) are popular for their affordability and new developments, while northwest areas like Brentwood appeal to families near top schools.

Action Item:

Save listings that catch your eye and discuss them with your realtor to schedule viewings.

Keywords: Calgary MLS listings, homes for sale in Calgary.

Step 6: Make an Offer

Once you find your dream home, work with your realtor to craft a competitive offer. In Calgary’s 2025 market, homes in high-demand areas like Lake Bonavista may receive multiple offers, so act quickly. Your offer should include:

• Purchase price: Based on comparable sales (comps) in the neighborhood.

  
  

• Conditions: Common conditions include financing, home inspection, and condo document review (if applicable).

  
  

• Deposit: Typically $5,000 - 10,000, held in trust.

  
  

Your realtor will negotiate on your behalf to secure the best terms, whether it’s price, closing date, or inclusions like appliances.

Local Tip:

In competitive markets like SE Calgary, a cash offer or flexible closing date can make your offer stand out. Your Realtor should also have more creative ideas specific to properties and communities.

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Step 7: Conduct a Home Inspection

A home inspection is critical to avoid costly surprises. Hire a certified Calgary home inspector to check for issues like:

• Structural integrity

  
  

• Plumbing and electrical systems

  
  

• Roof and foundation condition

  
  

Expect to pay $400–$600 for a thorough inspection. If issues arise, your realtor can negotiate repairs or a price reduction with the seller.

Condo Buyers:

Request a condo document review to assess reserve funds, bylaws, and management fees, especially in Calgary’s condo-heavy areas like Beltline.

Pro Tip: Inspections are especially important for older homes in established neighborhoods like Renfrew or Mount Pleasant.

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Step 8: Finalize Your Financing

Once your offer is accepted, return to your lender to finalize your mortgage. Provide updated documents and confirm your down payment source. Your lender will order an appraisal to ensure the home’s value matches the purchase price.

If you’re using a first-time buyer program, like the CMHC Incentive or RRSP Home Buyers’ Plan, ensure all paperwork is submitted on time. Calgary’s 2025 market has seen stable interest rates, but lock in your rate early to avoid surprises.

Action Item:

Review your mortgage terms, including fixed vs. variable rates, to choose the best option.

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Step 9: Hire a Real Estate Lawyer

A Calgary real estate lawyer handles the legal aspects of your purchase, including:

• Reviewing the purchase agreement

  
  

• Conducting a title search to ensure the property is free of liens

  
  

• Preparing and registering the mortgage and title transfer

  
  

Legal fees typically range from $1,000–$2,000. Your realtor can recommend trusted lawyers familiar with Calgary’s real estate laws. (I know some amazing local lawyers, if you need one, just ask!)

Local Insight:

Land transfer taxes in Alberta are relatively low compared to other provinces, saving you money at closing.

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Step 10: Close the Deal and Move In

On closing day, your lawyer will transfer funds, register the property in your name, and provide you with the keys. Before moving in:

• Arrange utilities (electricity, water, internet) for your new Calgary home.

  
  

• Schedule a final walkthrough with your realtor to ensure the property is in the agreed-upon condition.

  
  

• Budget for moving costs, which can range from $500–$2,000 depending on distance and services.

  
  

Celebrate your new home in one of Calgary’s vibrant communities! Whether you’re settling into a lakefront property in Lake Bonavista or a modern condo in Mission, you’re now part of Calgary’s thriving real estate landscape.

Ready to start your home-buying journey? Contact me for personalized guidance and access to the latest Calgary MLS® listings.

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Why Buy Your First Home in Calgary in 2025?

Calgary’s real estate market offers affordability, diverse neighborhoods, and strong growth potential. With new developments in areas like Wolf Willow and established communities like Acadia, there’s a home for every budget and lifestyle. By following these 10 steps, you’ll be well-equipped to navigate the process and find your dream home.

Need Help? I specialize in guiding first-time buyers through every step, from pre-approval to closing. Sign up for listing alerts or contact me today to start your Calgary home search!