Real Estate

Calgary Real Estate Market - 2021 and beyond

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  • Jan 26th, 2023 1:05 pm
Member
User avatar
Jun 4, 2007
389 posts
259 upvotes
Edmonton, AB
William W wrote: Not exactly detached, but a brand new 3br + Den TH for $350k.
https://rohitcommunities.com/edmonton/a ... k-place-sw

And if you want single and brand new, you will have to pay $40k more.
https://www.sterlingedmonton.com/quick- ... -p4-10072/

I am contemplating selling everything in Ontario and take an early retirement to move out to Alberta.
And why not? If you can cash out a house here in AB and still have a surplus of say $300k+, it’s worth it. I mean how long do you think it would take you to save up that kind of money living where you live? 10 years? 20 years? 30 years? I have a good idea of how these things work. Life hits you out of nowhere and while you think you’re making a lot of $$$, it goes towards something else.

I’ve got a friend in the GTA who works like a madman and he’s got a $100k saved up. He’s waiting on the housing market to crash so he can buy a house for him and his family. I told him, you’re 37 years old man, you got a $100k in the bank. You can’t afford anything now in the GTA. How long is it gonna take you to save up another $100k, another 37 years? You’re gonna be 74 years old by then and how much do you think that $200k is going to be worth?

Probably doesn’t apply to you but like I said, it is mind boggling to me at just how much people choose to struggle just to stay in one area of the country.
Jr. Member
Dec 22, 2008
158 posts
32 upvotes
Mississauga
masarwar wrote: What is your field?
how are jobs in IT specially cybersecurity field in calgary? average pays?
Sr. Member
Jul 16, 2013
902 posts
379 upvotes
Yorker86 wrote: And why not? If you can cash out a house here in AB and still have a surplus of say $300k+, it’s worth it. I mean how long do you think it would take you to save up that kind of money living where you live? 10 years? 20 years? 30 years? I have a good idea of how these things work. Life hits you out of nowhere and while you think you’re making a lot of $$$, it goes towards something else.

I’ve got a friend in the GTA who works like a madman and he’s got a $100k saved up. He’s waiting on the housing market to crash so he can buy a house for him and his family. I told him, you’re 37 years old man, you got a $100k in the bank. You can’t afford anything now in the GTA. How long is it gonna take you to save up another $100k, another 37 years? You’re gonna be 74 years old by then and how much do you think that $200k is going to be worth?

Probably doesn’t apply to you but like I said, it is mind boggling to me at just how much people choose to struggle just to stay in one area of the country.
Sometimes it is becasue of family.
Deal Addict
Dec 16, 2012
3376 posts
723 upvotes
Yorker86 wrote: And why not? If you can cash out a house here in AB and still have a surplus of say $300k+, it’s worth it. I mean how long do you think it would take you to save up that kind of money living where you live? 10 years? 20 years? 30 years? I have a good idea of how these things work. Life hits you out of nowhere and while you think you’re making a lot of $$$, it goes towards something else.

I’ve got a friend in the GTA who works like a madman and he’s got a $100k saved up. He’s waiting on the housing market to crash so he can buy a house for him and his family. I told him, you’re 37 years old man, you got a $100k in the bank. You can’t afford anything now in the GTA. How long is it gonna take you to save up another $100k, another 37 years? You’re gonna be 74 years old by then and how much do you think that $200k is going to be worth?

Probably doesn’t apply to you but like I said, it is mind boggling to me at just how much people choose to struggle just to stay in one area of the country.
I know many like this), lots of them are in a relationship and seems like 1 wants to move to AB and the other does not. I know 2 different couples, where both the guys wanted to move but the woman don't because they are scared of the snow (though their lifestyle is more shopping, staying at home watching TV and etc)

First couple are living in what looks to be an old 1 or maybe 2 bedroom condo in metro Vancouver and are hoping to buy a townhouse next year when the market crashes as the interest rates are too high for them right now and they can't afford to buy.

The second couple again is waiting for a market crash and all the places they liked they tried to buy, they put super low ball offers for like 100-200K less than asking...of course the seller told them to pound sand.

Now the place they rent the owner is trying to sell, so it means they will probably have to find another rental till they finally. I don't know if it will be anytime soon as they are in the camp big market crash going to happen. If they do buy it sounds like they will have a 600-800K mortgage.

The 3rd person I know, they have 2 kids now and both have lower paying jobs (one I think is maybe $18/hr and the other best case $25/hr....but right now she only wants to work part-time after getting off full maternity leave) and they just had to move to a 2-bedroom condo and are paying like $2500 a month now and are complaining how they got no money at the end of the month.

Yet still does not want to move to AB and probably in a year or 2 could own their own 2bedroom condo.

But they rather rent for life and struggle (this is my guess as how they can ever save money up) then move here because of the snow and cold weather (yet they both are not active at all).

Anyways each to their own, it baffles me how people rather have a shittier life and struggle then move and have a better life, yes the weather is not the greatest, yes there is many things I don't like about AB but you can't get everything and the most important thing for my wife and I was to raise our children in a house and not to have to work multiple jobs just to pay the mortgage as if we stayed in metro Vancouver, it would have been I go to work, then I come home my wife does nightshift and that would be our life never seeing each other.

Finally, with all this said though, I hope people keep wanting to struggle and hope they think AB is the worst. I don't want everyone and their dog moving here and jumping the prices to the moon till we are just like Toronto or Vancouver.... we saw what happened when even a small % of people from other provinces started to come here, bidding wars started and no subject offers started.
Sr. Member
Aug 20, 2019
505 posts
324 upvotes
xiaobao wrote: I know many like this), lots of them are in a relationship and seems like 1 wants to move to AB and the other does not. I know 2 different couples, where both the guys wanted to move but the woman don't because they are scared of the snow (though their lifestyle is more shopping, staying at home watching TV and etc)

First couple are living in what looks to be an old 1 or maybe 2 bedroom condo in metro Vancouver and are hoping to buy a townhouse next year when the market crashes as the interest rates are too high for them right now and they can't afford to buy.

The second couple again is waiting for a market crash and all the places they liked they tried to buy, they put super low ball offers for like 100-200K less than asking...of course the seller told them to pound sand.

Now the place they rent the owner is trying to sell, so it means they will probably have to find another rental till they finally. I don't know if it will be anytime soon as they are in the camp big market crash going to happen. If they do buy it sounds like they will have a 600-800K mortgage.

The 3rd person I know, they have 2 kids now and both have lower paying jobs (one I think is maybe $18/hr and the other best case $25/hr....but right now she only wants to work part-time after getting off full maternity leave) and they just had to move to a 2-bedroom condo and are paying like $2500 a month now and are complaining how they got no money at the end of the month.

Yet still does not want to move to AB and probably in a year or 2 could own their own 2bedroom condo.

But they rather rent for life and struggle (this is my guess as how they can ever save money up) then move here because of the snow and cold weather (yet they both are not active at all).

Anyways each to their own, it baffles me how people rather have a shittier life and struggle then move and have a better life, yes the weather is not the greatest, yes there is many things I don't like about AB but you can't get everything and the most important thing for my wife and I was to raise our children in a house and not to have to work multiple jobs just to pay the mortgage as if we stayed in metro Vancouver, it would have been I go to work, then I come home my wife does nightshift and that would be our life never seeing each other.

Finally, with all this said though, I hope people keep wanting to struggle and hope they think AB is the worst. I don't want everyone and their dog moving here and jumping the prices to the moon till we are just like Toronto or Vancouver.... we saw what happened when even a small % of people from other provinces started to come here, bidding wars started and no subject offers started.
Its not an easy decision to move so I do get why most if not all people that are in a bad spot are still reluctant to move. Most are more comfortable with things remaining the same and just complaining about it. It's not easy for them to take a step out of their comfort zone and make this huge sacrifice to move provinces.

From my own experiences, all my friends tell me their life is here in Toronto (Friends / Family). They would never think about moving to AB. Why would they move there when there isn't anything over there for them. They would rather be paying for expensive housing here than own a property in AB and have no life.

To each their own really. It comes down to your views and priorities.
Let the hoarding begin.....
Sr. Member
Aug 13, 2020
700 posts
739 upvotes
Yorker86 wrote: And why not? If you can cash out a house here in AB and still have a surplus of say $300k+, it’s worth it. I mean how long do you think it would take you to save up that kind of money living where you live? 10 years? 20 years? 30 years? I have a good idea of how these things work. Life hits you out of nowhere and while you think you’re making a lot of $$$, it goes towards something else.

I’ve got a friend in the GTA who works like a madman and he’s got a $100k saved up. He’s waiting on the housing market to crash so he can buy a house for him and his family. I told him, you’re 37 years old man, you got a $100k in the bank. You can’t afford anything now in the GTA. How long is it gonna take you to save up another $100k, another 37 years? You’re gonna be 74 years old by then and how much do you think that $200k is going to be worth?

Probably doesn’t apply to you but like I said, it is mind boggling to me at just how much people choose to struggle just to stay in one area of the country.
How is the rental market in Edmonton. Are duplex/townhomes a good option to rent out or they sit empty for a long time.
Deal Addict
Dec 19, 2015
3034 posts
1602 upvotes
Calgary, AB
BiegeToyota wrote: I can't believe people are arguing what place is better to live.... Toronto or Calgary. They are both shitholes slowly being surpassed by 3rd world cities.

Everywhere I go in Canada the faces of people are just miserable. I have never seen this anywhere. Not even USA.
Where have you been/lived that was better?

Hint, the answer is likely to be that the grass is always greener.

Calgary (and to a lesser extent Toronto) are consistently ranked as some of the most livable cities in the world.

https://www.cnbc.com/2022/08/07/global- ... -live.html
Member
User avatar
Jun 4, 2007
389 posts
259 upvotes
Edmonton, AB
xiaobao wrote:
Finally, with all this said though, I hope people keep wanting to struggle and hope they think AB is the worst. I don't want everyone and their dog moving here and jumping the prices to the moon till we are just like Toronto or Vancouver.... we saw what happened when even a small % of people from other provinces started to come here, bidding wars started and no subject offers started.
Great post bud and I hope so too. I was talking to a realtor awhile ago and he said that during the period when the interest rates were very low, investors from Southern Ontario and Lower Mainland BC would call and bid on homes without any conditions. He said they would regularly phone and tell him “do a walk around of the place, if it’s good, place a bid on it right away”. Someone I know in Edmonton recently sold their home to a person from Ontario. She never met this individual and that home has been sitting empty for awhile now because I’m guessing the buyer was in it to make a quick flip or rent it out.

It seems like things have somewhat cooled off now that the interest rates have gone up but I do believe that investors have Calgary in their sights. It’s unfortunate really because it’s obviously heating up the market and pushing prices up but even so, you’re still saving hundreds of thousands of dollars by buying a house in the Prairies compared to buying a home in Lower Mainland BC or Southern Ontario.
Deal Addict
Jan 13, 2014
2499 posts
1594 upvotes
Calgary
Gen_90 wrote: how are jobs in IT specially cybersecurity field in calgary? average pays?
Knew someone who worked in cybersecurity. Was clearing around 150-160k. It's mostly remote work. My brother works as a software engineer and at 30 he is clearing around the same.
Deal Addict
Jan 13, 2014
2499 posts
1594 upvotes
Calgary
Johntheshopper wrote: https://www.zillow.com/homedetails/35-N ... 3880_zpid/

Any thoughts on this listing and the price? I thought this one would be sold quite quickly but it seems otherwise.
evergreen is almost like an area outside of calgary, takes forever to drive there. i just did reno in that area (27 everwoods). the house is actually smaller and more basic for the area. also definitely needs carpets changed. you can get brand new 2000 sqft near macleod trail for around 600k ish hence why it isnt selling. also this area gets hail alot.
Sr. Member
Aug 20, 2019
505 posts
324 upvotes
masarwar wrote: evergreen is almost like an area outside of calgary, takes forever to drive there. i just did reno in that area (27 everwoods). the house is actually smaller and more basic for the area. also definitely needs carpets changed. you can get brand new 2000 sqft near macleod trail for around 600k ish hence why it isnt selling. also this area gets hail alot.
This would mean that Alpine Park is actually not that great of an area as well right as its literally right beside it?
Let the hoarding begin.....
Deal Addict
Jan 13, 2014
2499 posts
1594 upvotes
Calgary
Johntheshopper wrote: This would mean that Alpine Park is actually not that great of an area as well right as its literally right beside it?
Don't much about that project but really it comes down what you think is better. I have friends in that area and they love it.
Deal Addict
Jan 17, 2006
2422 posts
2626 upvotes
Toronto
Andy34 wrote: Where have you been/lived that was better?

Hint, the answer is likely to be that the grass is always greener.

Calgary (and to a lesser extent Toronto) are consistently ranked as some of the most livable cities in the world.

https://www.cnbc.com/2022/08/07/global- ... -live.html
He had to move to Thailand and now trying to convince himself and everyone else that Canada is worse than 3d world country where he stuck, lol.
Penalty Box
Feb 24, 2018
24780 posts
32505 upvotes
What's the real estate market sentiment about the Alberta Sovereignty Act. I want to ensure my investments are secure.

Thoughts from the posters in this thread?
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Deal Addict
Jan 13, 2014
2499 posts
1594 upvotes
Calgary
redflagdealsguy wrote: What's the real estate market sentiment about the Alberta Sovereignty Act. I want to ensure my investments are secure.

Thoughts from the posters in this thread?
It's a joke.
Penalty Box
Feb 24, 2018
24780 posts
32505 upvotes
masarwar wrote: It's a joke.
Priced in as a farce. Yes.

May lead to short term uncertainty.

Still buying in Alberta.

Ontario is a hot mess.
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Newbie
Dec 10, 2022
1 posts
I bought a 1B1B in Bridgeland, Calgary back in 2020. It is closing mid 2023.

Are there any real estate agents located in Calgary on this thread? I am looking to assign or less. If looking as an investment, it's guaranteed rent for 2 years after closing.

Kindly PM me.
Deal Addict
Jan 13, 2014
2499 posts
1594 upvotes
Calgary
Daniel312 wrote: I bought a 1B1B in Bridgeland, Calgary back in 2020. It is closing mid 2023.

Are there any real estate agents located in Calgary on this thread? I am looking to assign or less. If looking as an investment, it's guaranteed rent for 2 years after closing.

Kindly PM me.
What is the price? Lease I can help. For sale I can pm you contact (Manjeet) who is on rfd as well.

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