A Clear Guide for Calgary Residents and Newcomers

If you’re wondering whether to rent or buy a home in Calgary this year, you’re not alone. Calgary’s housing market in 2025 presents unique challenges—and opportunities—that make this decision more important than ever. Here’s what you need to know before making your move.

💸 Renting in Calgary: When It Makes Sense

Renting can be the smarter choice if you:

✅ Need flexibility for career or life changes

✅ Plan to stay in Calgary for less than three years

✅ Can’t comfortably cover a down payment or closing costs

✅ Want to avoid home maintenance or unexpected repairs

Calgary’s rental market has seen rising prices in recent years. Depending on your lifestyle, renting can either help you save for a future purchase or leave you chasing ever-increasing monthly costs.

🏠 Buying in Calgary: Benefits to Consider

Buying can make more sense if you:

✅ Plan to stay in your home at least 3–5 years

✅ Have a stable income and savings for down payment & closing costs

✅ Want to build equity instead of paying rent

✅ Prefer stability and control over your living space

Buying locks in your monthly payments (if you choose a fixed mortgage), helps you build wealth, and can shield you from unpredictable rent increases.

📊 Calgary 2025 Market Trends

• Calgary’s real estate market continues to show steady demand, with inventory shortages in some price brackets.

• Rent prices are rising in many neighborhoods due to high demand and low vacancy rates.

• Mortgage rates remain elevated compared to previous years but have stabilized, making careful cost comparison essential.

📍 How to Decide: Rent vs Buy

• Compare current rent prices vs mortgage payments in your target area.

• Factor in upfront costs: down payment, closing costs, moving expenses.

• Calculate how long you plan to stay—owning makes more sense if you’ll be in the home long enough to offset these initial expenses.

• Consider lifestyle flexibility vs the benefits of building equity.

📩 Want My Calgary 2025 Rent vs Buy Guide?

DM me “RENT OR BUY” and I’ll send you my Calgary Rent vs Buy Guide, complete with side-by-side cost breakdowns and neighborhood-specific comparisons.

Related reading:

• The Hidden Costs of Buying a Home in Calgary

• How to Time the Market Without Losing Sleep

Kristen Edmunds is a Calgary-area REALTOR® and Associate Broker with KIC Realty, specializing in acreages, luxury homes, and smart buy/sell strategies. With expertise in rural properties (water wells, septic, equestrian facilities) and a client-obsessed approach, Kristen helps buyers and sellers achieve their real estate goals with confidence and ease.

Whether you're upsizing, downsizing, or relocating to a new area, trying to buy and sell a home at the same time can feel overwhelming.

But with the right strategy, this transition can be smooth, well-timed, and financially smart.

As a Calgary-based REALTOR® who regularly helps clients move between homes, I’ve developed a proven step-by-step process that removes the guesswork—and minimizes the stress.

🧠 Step 1: Start With the Sale (Even Before You Buy)

Most people want to find their next dream home before listing their current one.

But in most cases, I recommend the opposite:

Prepare your current home first.

We’ll get your property photo-ready, either go live or prep it behind the scenes so that we can hit the ground running when the timing aligns.

Why?

Because knowing what your current home will sell for—and how quickly—gives you the confidence and leverage you need when you’re ready to buy.

💰 Step 2: Understand Your Financing Options

Talk to your mortgage broker early about how you’ll manage the financial overlap. Options may include:

• Bridge financing (most common)

• Home Equity Line of Credit (HELOC)

• Extended possession dates on your sale or purchase

• Conditional offers based on your home’s sale

Every situation is different. That’s why I work closely with your lender to structure a strategy that protects your budget and avoids financial pressure.

📝 Step 3: Protect Yourself With the Right Offer Conditions

When it’s time to write an offer on your new home, we’ll include terms that keep your transition safe and realistic. That may include:

• Condition for the sale of your home

• Flexible possession timelines

• Early access for measurements or contractor quotes

I help you negotiate a timeline that aligns with your goals—whether you’re trying to avoid moving twice or need extra time for possession.

🔄 Step 4: Always Have a Backup Plan (Just in Case)

Even with the best strategy, it’s smart to have a short-term backup plan. This might mean:

• Arranging temporary housing

• Securing storage for your belongings

• Pre-booking movers or rental options

I help clients plan for all scenarios so nothing catches you off guard—even if we need to adjust the timeline last-minute.

🤝 Final Thoughts: You’re Not Alone in This

Buying and selling at the same time can be complex, but with the right guidance, it's entirely doable. I’ve helped countless Calgary-area clients manage this transition smoothly—without panic selling or panic buying.

If you're thinking about making a move, the earlier we plan, the more confident you'll feel.

📩 DM me “PLAN” and I’ll send you my Buying & Selling Strategy Guide—a free checklist that outlines the key steps, financing questions to ask, and real-life examples of how we make it work.

Let’s get you moved—without the chaos.

Kristen Edmunds is a Calgary-area REALTOR® and Associate Broker with KIC Realty, specializing in acreages, luxury homes, and smart buy/sell strategies. With expertise in rural properties (water wells, septic, equestrian facilities) and a client-obsessed approach, Kristen helps buyers and sellers achieve their real estate goals with confidence and ease.

Figuring out how much house you can afford can be challenging, but it is one of the most important steps when planning to buy a home. Understanding your budget ensures you do not become "house poor"—a term used for individuals who buy a home beyond their financial reach and struggle to cover other living expenses. This guide will help you make informed decisions and balance buying a home with maintaining a healthy budget.

Understand Your Financial Picture

Before you start browsing listings, getting clear on your financial situation is crucial. Here’s how you can begin:

1. Calculate Your Income
   Add up all sources of income, including salary, bonuses, rental income, and any other earnings. This gives you an idea of what you have to work with every month.

2. Review Your Expenses
   Look at all your regular expenses, such as groceries, transportation, entertainment, and savings contributions. Understanding these will help you identify how much you can spare for a mortgage payment.

3. Check Your Credit Score
   Your credit score impacts the mortgage rate you can secure. A higher score can lead to a lower interest rate, saving you thousands over the loan's life.

The Importance of the Down Payment

A down payment is the lump sum you pay upfront when buying a home. It affects your loan amount and whether you'll need mortgage insurance. Here's what to know:

• Homes Up to $500,000:
  A 5% down payment is required. This means saving $25,000 for a $500,000 home.

• Homes $500,000 to $999,999:
  You need 5% of the first $500,000 and 10% of any amount over that. For instance, a $750,000 home requires $25,000 on the first $500,000 and $25,000 on the remaining $250,000, totaling a $50,000 down payment.

• Homes $1 Million or More:
  A 20% down payment is standard. This equals $200,000 for a $1,000,000 home.

First-time buyers might not have a large down payment. However, they should remember that putting down less than 20% requires mortgage loan insurance.

Budgeting Beyond the Purchase Price

Buying a home involves more than just paying the sale price. Budget for extra costs:

1. Closing Costs:
   These include lawyer fees, land transfer taxes, and other administrative charges, typically ranging from 1.5% to 4% of the purchase price.

2. Moving and Setup Expenses:
   Consider costs like hiring movers, utility setup fees, and initial purchases such as furniture or appliances.

3. Emergency Fund:
   Set aside funds for unexpected repairs or costs that may arise after moving in.

Choose the Right Mortgage

Securing the best possible mortgage is vital. Here's how:

1. Shop Around:
   Compare rates from different lenders to find the best deal. Even a small difference in interest rates can greatly affect the total amount you pay over time.

2. Consider Different Types:
   Look into fixed-rate and variable-rate options. Understand how each works and their pros and cons based on your financial outlook.

3. Get Pre-Approved:
   A pre-approval gives you a better idea of what a lender might offer and shows sellers you're serious, making your bid more attractive.

Assess What You Can Comfortably Afford

When deciding what you can afford, think about your daily life, not just the mortgage payment.

1. Use the 28/36 Rule:
   Experts suggest that your housing costs should not exceed 28% of your gross monthly income. Additionally, your total debt payments should not surpass 36% of your income.

2. Prioritize Needs Over Wants:
   Understand the difference between essential features (like number of bedrooms) and nice-to-haves (like a pool). Focus on what adds real value to your family life.

Location Matters

Knowing where you want to buy is as important as what you want to buy.

1. Neighbourhood Insights:
   Research the best neighbourhoods for safety, schools, and convenience. Location can impact property value and growth potential.

2. Property Types:
   Decide what suits you best—a single-family home, condo, or townhouse. Each has unique costs tied to its property type, like HOA fees for condos.

Utilize Professional Guidance

Working with a real estate expert can significantly ease the home-buying process. Here’s what they offer:

1. Buyers Agent Expertise:
   They provide access to listings, honest advice, and negotiation experience ensuring stress-free transactions.

2. Financing Connections:
   Agents often know mortgage brokers who can offer guidance suited to your needs.

3. Market Knowledge:
   Agents familiar with your area can offer insights that save you money and help you find a home that fits well with your life goals.

Take Advantage of First-Time Buyer Programs

For starters, there are government programs that aim to make this journey easier.

1. First Home Savings Account (FHSA):
   This account lets you save specifically for a down payment, with some tax advantages that can make it faster to reach your goal.

2. Tax Rebates:
   Look into available tax rebates for first-time buyers that can add extra savings when buying your home.

Knowing how much home you can afford involves thoughtful planning and budgeting. By following these steps, you can find a home that meets your needs and remains within your financial reach. With the right information and support, the path to homeownership can be a rewarding journey. Always remember, being prepared and informed is the best way to enjoy your new home with peace of mind.

Kristen Edmunds is a Calgary-area REALTOR® and Associate Broker with KIC Realty, specializing in acreages, luxury homes, and smart buy/sell strategies. With expertise in rural properties (water wells, septic, equestrian facilities) and a client-obsessed approach, Kristen helps buyers and sellers achieve their real estate goals with confidence and ease.