Buying Your First Home in Calgary: A Step-by-Step Guide
- Sabriya Halford
- Jul 8
- 4 min read
Updated: Jul 10
Thinking about buying your first home in Calgary? It’s exciting — and maybe a little overwhelming. This guide will walk you through each step, from setting a budget to unlocking your front door. Whether you’re just starting to explore or ready to jump in, I’m here to help make the process simple, clear, and maybe even fun.
Step 1: Are You Ready to Buy?
Before diving into listings, take a moment to ask yourself:
Do I have steady income and a stable job?
Am I planning to stay in Calgary for a few years?
Have I saved for a down payment and closing costs?
If you're unsure about any of these — don’t worry. I’ll guide you through what to expect and how to prepare.
Step 2: How Much Do I Need to Buy a Home in Calgary?
Here’s what you’ll need for a down payment:
Home Price | Minimum Down Payment |
$500,000 or less | 5% of the purchase price |
$500,001–$999,999 | 5% on the first $500,000 + 10% on the remainder |
$1,000,000+ | 20% of the full purchase price |
If your down payment is under 20%, you’ll also need mortgage default insurance (CMHC), which is added to your mortgage.
Example: Buying a $600,000 Home
Amount | Calculation | Down Payment |
First $500,000 | 5% of $500,000 | $25,000 |
Remaining $100,000 | 10% of $100,000 | $10,000 |
Total | $35,000 |
Closing Costs to Budget For:
Expect to spend an additional 1.5% to 4% of the purchase price on closing costs, including:
Expense | Estimated Cost / Notes |
Home inspection | $450–$600 (higher for older homes) |
Legal fees | $800–$1,500 |
Title insurance | $300–$500 |
Property tax adjustments | Dependent on possession date |
Moving costs | $1,200–$3,000 (depending on distance) |
Condo document review (if applicable) | $400–$800 |
Home insurance | $1,200–$2,400 annually |
First-Time Buyer Programs in Calgary
There are a few helpful programs designed to make buying your first home easier:
First-Time Home Buyer Incentive (FTHBI): The government contributes 5% (or 10% for new builds) toward your purchase to lower your monthly payments.
RRSP Home Buyers’ Plan: Withdraw up to $60,000 tax-free from your RRSPs to use toward your down payment.
GST New Housing Rebate: If you’re buying a new build, you may qualify for a partial GST refund.
Land Transfer Tax (LTT): Alberta doesn’t charge land transfer tax, just minor title registration fees — a big savings compared to other provinces.
What Credit Score Do I Need to Buy a Home in Calgary?
Your credit score plays a big role in what kind of mortgage terms you’ll be offered:
680 or higher — best mortgage rates
620–679 — likely approval, but possibly higher interest
Below 620 — still possible, but may require extra steps
If you're unsure about your score or want tips on improving it, I can connect you with a friendly mortgage broker who’ll walk you through it.
Step 3: Get Pre-Approved for a Mortgage
Before we go house hunting, getting pre-approved helps you:
Shop within your true price range
Strengthen your offer when you find “the one”
Feel more confident and prepared
Be ready to share proof of income, tax returns, ID, and a list of assets and debts. If you need help, I have trusted local contacts who make this step painless.
Step 4: Build Your Team
A strong support team makes the process smoother. You’ll need:
A licensed REALTOR® (that’s me!) to guide the process
A mortgage advisor to help secure financing
A real estate lawyer to manage legal documentsOptional but recommended:
A home inspector
An insurance advisor
A condo document reviewer (if buying a condo)
If you don’t have these pros lined up — no problem. I’ll connect you with people I trust.
Step 5: Time to Start Shopping
Let’s figure out what fits your life and your budget:
Type of home: condo, townhouse, or detached?
Preferred areas: NW, SW, SE — or somewhere in between?
Must-haves: 3 bedrooms, fenced yard, attached garage?
I’ll help filter listings, book showings, and offer honest feedback — if I wouldn’t buy it, I’ll tell you.
Step 6: Making an Offer
Found the right place? I’ll help craft a smart offer and handle the details:
A fair, strategic purchase price
Your deposit
Conditions like financing, inspection, or condo doc review
What’s included (appliances, window coverings, etc.)
Possession date
Then I’ll negotiate calmly, clearly, and with your best interests in mind.
Step 7: Satisfying Conditions
If your offer includes conditions, here’s what happens next:
Financing: Your lender gives the green light
Inspection: A licensed inspector checks the home’s systems
Condo docs: For condos, we’ll review financials, bylaws, and the reserve fund
If everything looks good, the deal goes firm — and it’s almost yours.
Step 8: Legal and Final Details
Your real estate lawyer will:
Finalize title transfer and mortgage registration
Confirm documents
Send your closing statement
Meanwhile, I’ll help you prep for move-in: utility setup, moving tips, and anything else you need.
Step 9: Possession Day
On possession day, your lawyer transfers funds and the seller releases the keys. I’ll meet you at your new home, walk you through the essentials, and make sure everything is in order.
It’s a big day — and I’ll be just as excited as you are.
Frequently Asked Questions
Can I buy a house in Calgary with 5% down?
Yes — as long as the purchase price is under $500,000. Above that, you’ll need 5% on the first $500,000 and 10% on anything above that, up to $999,999.
What credit score do I need to buy a home in Calgary?
620 is usually the minimum, but 680+ gives you access to better mortgage rates.
Are there any first-time buyer programs in Calgary?
Yes — including the First-Time Home Buyer Incentive, the RRSP Home Buyers’ Plan, and the GST New Housing Rebate.
How much are closing costs in Calgary?
Typically 1.5% to 4% of the home’s purchase price, covering legal fees, inspections, insurance, and more.
How long does the buying process take?
From pre-approval to possession, plan for 30–60 days on average.
Do I need a REALTOR®?
You’re not required to use one, but it makes the process easier — and in most cases, the seller covers my commission.
Let’s Make It Happen
Buying your first home doesn’t have to feel overwhelming. I’ll walk you through the process with clear advice, honest answers, and support you can count on.
Ready to get started?
Let’s talk about your goals, timeline, and what kind of home will truly fit your life.
Visit: sabriyarealty.com
Call/Text: 587-585-8575
Instagram: @sabriya_realty
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