According to the recently released BMO first-time home buying report, buyers in Calgary are unfazed and are willing to break the budget for the right house.
Here’s a quick snapshot of the report:
- 54 per cent of those in Calgary would breal their budget compared with the national average of 33 per cent.
- 50 per cent of Calgary buyers say their time line has been delayed due to rising real estate prices and 68 per cent have made cutbacks to their lifestyle in order to save for their first home.
- First-time buyers in Calgary have a budget of $363,400 for a new home. For Canadians, their budget this year is $316,100.
- First-time home buyers in Calgary expect to make a downpayment of 16.8 per cent and 30 per cent are expecting parents/relatives to help with their purchase.
- Here’s the report from BMO
It looks like the Seller’s market Calgary is not slowing the majority of first-time buyers. It more important than ever to get the proper Realtor® representation.
Contact us to find out how we can ease the process.