Real Estate

Calgary - Investing In Condos

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  • Mar 7th, 2020 11:24 am
[OP]
Jr. Member
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Aug 11, 2019
130 posts
154 upvotes
Toronto

Calgary - Investing In Condos

What is everyone's thoughts about investing in Calgary Real Estate?

The Bridgeland + Riverside, close to downtown, area has pre construction condos starting in the $250K for 1beds.

My goal is to eventually diversify out of Toronto, but with so many options, it's just hard to know which city would yield the best results.
I also never been to Calgary.. so any local insight would be appreciated.

Thanks!
Real Estate Agent
GTA & Surrounding Areas
87 replies
Newbie
Feb 25, 2015
52 posts
17 upvotes
Vancouver, BC
I visited Calgary this year from Vancouver. It's not a bad city and there are a lot of professionals working in the Downtown area. I was also interested on investing over there after seeing a pre-sale development close to Downtown in the Beltline neighbourhood go for around mid 200s for a 1 bed.

What's the name of the development for the one you are looking at?
Deal Addict
Jan 13, 2014
1543 posts
522 upvotes
Calgary
I am from calgary. Probably the worst investment you can make is in a townhouse/condo. 1 bed for 250k? holy shit you can get it cheaper in within downtown (higher condo fees though for older buildings). if you need to invest then invest in suburbs with dual income potential from up and down with good ROI. I run a property management in calgary as well for clients living out side of the city. PM me if you have more questions. thanks!
[OP]
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Aug 11, 2019
130 posts
154 upvotes
Toronto
It was by Minto (Era/Era 2).
Real Estate Agent
GTA & Surrounding Areas
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Dec 13, 2016
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masarwar wrote: I am from calgary. Probably the worst investment you can make is in a townhouse/condo. 1 bed for 250k? holy shit you can get it cheaper in within downtown (higher condo fees though for older buildings). if you need to invest then invest in suburbs with dual income potential from up and down with good ROI. I run a property management in calgary as well for clients living out side of the city. PM me if you have more questions. thanks!
But unlike in communist Ontario you can put your 1 bedroom on airbnb hire a menagement company to take care of it and still make a decent profit in the place like The Guardian.

However I heard that grocery shopping downtown is lacking. The only thing decent is the supermarket inside Keynote building. Right or wrong?
Deal Expert
Aug 2, 2001
16281 posts
6422 upvotes
One comment about Alberta - during the downturn in the economy Calgary was hit much harder than Edmonton. Edmonton has a more diversified workforce and a large government presence, which enabled unemployment rates to be lower. Could this mean Calgary has better "deals" right now? Could this mean Edmonton has a higher probability of finding "good" renters when you buy in a good area?

I have no idea - this is not my area of expertise. But if you're considering Calgary I think you would also need to consider Edmonton.
Deal Fanatic
Oct 7, 2007
6289 posts
2560 upvotes
I visited Calgary recently and found it to have a young and vibrant energy. I am not sure why people who can't find what they want in Vancouver do not consider alternatives like Calgary. With the HUGE savings in housing costs combined with probably better wages, a person could probably build up a decent savings fund to potentially move back to Vancouver at a future date. I am not sure what impact the recent unity issues will have on demand for RE in Calgary but hopefully we will have a more competent government in the future that is interested AND capable of making Canada a better place.
Deal Addict
Jan 13, 2014
1543 posts
522 upvotes
Calgary
BiegeToyota wrote: But unlike in communist Ontario you can put your 1 bedroom on airbnb hire a menagement company to take care of it and still make a decent profit in the place like The Guardian.

However I heard that grocery shopping downtown is lacking. The only thing decent is the supermarket inside Keynote building. Right or wrong?
To be fair I don't have much idea about downtown building. But at what kind of roi would you get from a 1 bedroom downtown condo in Toronto?
Deal Addict
Jan 13, 2014
1543 posts
522 upvotes
Calgary
TrevorK wrote: One comment about Alberta - during the downturn in the economy Calgary was hit much harder than Edmonton. Edmonton has a more diversified workforce and a large government presence, which enabled unemployment rates to be lower. Could this mean Calgary has better "deals" right now? Could this mean Edmonton has a higher probability of finding "good" renters when you buy in a good area?

I have no idea - this is not my area of expertise. But if you're considering Calgary I think you would also need to consider Edmonton.
Agreed. We also did a duplex in Edmonton. 410k for a 7 bedroom duplex (4 on 2nd floor, 1 on main floor, 2 in builder built rental suite). So yes definitely consider Edmonton aswell.
Jr. Member
Oct 24, 2010
131 posts
31 upvotes
Ottawa
There are risks to the Calgary market. Calgary house prices tend to lock step with oil prices. When oil booms, house prices boom. As a result, it can see-saw a bit.

To illustrate with one sample:
We bought a 3 bedroom, 1600 sqft townhouse in Calgary in 2012 for $298k.
By the middle of 2014, it was worth $350k.
We sold it in September, 2019 for $294k. It took 4 months to sell, after dropping from an initial list of $330k.

That said, my understanding is that Calgary rental vacancy is low and rental prices tend to take a different track.
Member
Jul 7, 2019
222 posts
171 upvotes
Dynatos wrote: There are risks to the Calgary market. Calgary house prices tend to lock step with oil prices. When oil booms, house prices boom. As a result, it can see-saw a bit.

To illustrate with one sample:
We bought a 3 bedroom, 1600 sqft townhouse in Calgary in 2012 for $298k.
By the middle of 2014, it was worth $350k.
We sold it in September, 2019 for $294k. It took 4 months to sell, after dropping from an initial list of $330k.

That said, my understanding is that Calgary rental vacancy is low and rental prices tend to take a different track.
After going through it, would you recommend investing in Calgary real estate?
Jr. Member
Oct 24, 2010
131 posts
31 upvotes
Ottawa
I'd personally be reluctant to buy in Calgary these days given their single minded economy.
Deal Fanatic
User avatar
Feb 2, 2014
7569 posts
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Toronto
Dynatos wrote: There are risks to the Calgary market. Calgary house prices tend to lock step with oil prices. When oil booms, house prices boom. As a result, it can see-saw a bit.

To illustrate with one sample:
We bought a 3 bedroom, 1600 sqft townhouse in Calgary in 2012 for $298k.
By the middle of 2014, it was worth $350k.
We sold it in September, 2019 for $294k. It took 4 months to sell, after dropping from an initial list of $330k.

That said, my understanding is that Calgary rental vacancy is low and rental prices tend to take a different track.
Alberta is a risky market for sure. I would feel a bit better investing there if Bozo wasn't the PM. But I have seen some serious losses in home equity there recently.
Kevin Somnauth, CFA
Principal Broker - First Toronto Mortgage - MA (Ontario #13176, BC #X301007)
Real Estate Salesperson - Century 21 Innovative
Deal Fanatic
Oct 7, 2007
6289 posts
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CdnRealEstateGuy wrote: Alberta is a risky market for sure. I would feel a bit better investing there if Bozo wasn't the PM. But I have seen some serious losses in home equity there recently.
I wouldn't make any investing decisions based on information fed to me by our media. I used to believe everything I heard until I learned the real story behind the media. They have demonstrated time and time again that they are incompetent at best and corrupted at worst. The media is not independent and is successful in their endeavours if they have you convinced that what they are saying is true. Dig a little deeper when making investment decisions (or any other decisions that matter to you) as you may be surprised at the truth of any matter as many of the facts are readily available if you are open-minded and willing to do the research. Those who are informed with real facts will do best in the long run.
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Feb 2, 2014
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Toronto
choclover wrote: I wouldn't make any investing decisions based on information fed to me by our media. I used to believe everything I heard until I learned the real story behind the media. They have demonstrated time and time again that they are incompetent at best and corrupted at worst. The media is not independent and is successful in their endeavours if they have you convinced that what they are saying is true. Dig a little deeper when making investment decisions (or any other decisions that matter to you) as you may be surprised at the truth of any matter as many of the facts are readily available if you are open-minded and willing to do the research. Those who are informed with real facts will do best in the long run.
Well, I'm not saying that because I read an article in The Star. I'm saying that because I do a lot mortgages in Alberta and personally seen lots of losses in real estate there.
Kevin Somnauth, CFA
Principal Broker - First Toronto Mortgage - MA (Ontario #13176, BC #X301007)
Real Estate Salesperson - Century 21 Innovative

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