New homes in Calgary ( 2024 )
37 New homes, condos and townhomes for sale in Calgary.
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The Ultimate Guide to Buying a Condo in Calgary: Steps, Tips, and Costs
Buying a condo in Calgary can be one of the most exciting and rewarding investments you’ll ever make. Whether you’re a first-time homebuyer, downsizing, or looking to invest in Calgary’s real estate market, there are important steps and costs to consider before making your decision. In this comprehensive guide, we’ll walk you through everything you need to know—from the condo-buying process to hidden fees, as well as the growing interest in pre-construction condos in Calgary.
Why Buy a Condo in Calgary?
Calgary’s real estate market offers diverse options, including both pre-construction condos and resale units. Condos have become increasingly popular due to their affordability, low maintenance, and proximity to the city's vibrant downtown core. Plus, Calgary's strong economy and job opportunities make it an attractive city for both homeowners and investors.
Benefits of Buying a Condo in Calgary:
- Affordability compared to single-family homes.
- Proximity to Calgary’s urban lifestyle, including dining, shopping, and public transport.
- Pre-construction opportunities allow buyers to customize features and benefit from lower prices before the building is completed.
- Low Maintenance as condo corporations handle exterior repairs, landscaping, and more.
Steps to Buying a Condo or Pre-Construction Home in Calgary
1. Determine Your Budget
Before you start looking at condos or pre-construction homes, it's crucial to assess your financial situation. Be realistic about what you can afford, considering not only the mortgage but also other costs such as condo fees, property taxes, and insurance.
- Tip: Use an online mortgage calculator to estimate your monthly payments.
Calgary condo affordability calculator
2. Get Pre-Approved for a Mortgage
Having a mortgage pre-approval gives you an advantage when shopping for condos or pre-construction homes. It shows sellers and developers that you are serious and financially ready to buy, making the negotiation process smoother.
- Tip: Shop around for the best mortgage rates. Consider both fixed and variable rate options.
best Calgary condo mortgage rates, pre-construction mortgage rates Calgary
3. Decide on Your Ideal Location
Location is one of the most important factors when buying a condo or pre-construction home. Calgary has a variety of neighborhoods that cater to different lifestyles, from the bustling downtown core to quieter suburban areas like Beltline, Kensington, and Mission. Pre-construction developments are also available in up-and-coming communities that offer long-term value.
- Tip: Consider proximity to public transportation, schools, and amenities.
Best Calgary neighborhoods for condos, pre-construction homes Calgary locations
4. Consider Pre-Construction Homes and Condos
Buying pre-construction condos in Calgary is an appealing option for those looking for a modern, customizable living space at a lower initial cost. Pre-construction properties often come with incentives like lower pricing, flexible deposit structures, and the ability to select finishes and layouts.
Calgary pre-construction condos, new condo developments Calgary, pre-construction homes Calgary
- Tip: Pre-construction properties may offer more time to save for a down payment as construction completes over a longer timeline.
5. Hire a Real Estate Agent Specializing in Condos and Pre-Construction
Working with a Calgary real estate agent who specializes in both resale and pre-construction homes can save you time and effort. They have a deep understanding of the market, access to listings, and relationships with developers that can give you an edge in negotiations.
top Calgary condo real estate agents, pre-construction condo agents Calgary
6. Start Condo or Pre-Construction Home Hunting
With the help of your agent, start looking at listings online or in person. Consider factors like building amenities, unit size, and future resale value. For pre-construction condos, inquire about the developer’s reputation, construction timelines, and customization options.
- Tip: Visit multiple properties to compare before making your decision.
Calgary condos for sale with amenities, Calgary pre-construction homes for sale
7. Understand Condo Fees
When buying a condo, you’ll need to pay monthly condo fees that cover things like building maintenance, security, and shared amenities. It’s important to factor this into your budget, as these fees vary by building. Pre-construction condos may offer lower fees initially, but it’s important to understand how they may change once the building is fully occupied.
average Calgary condo fees, pre-construction condo fees Calgary
- Tip: Ask for a breakdown of what the condo fees include, and whether there are any special assessments planned.
8. Make an Offer
Once you find the condo or pre-construction property you want, it’s time to make an offer. Your agent will guide you through the process, ensuring your offer is competitive but within your budget. Pre-construction purchases will typically involve signing a purchase agreement with the developer, and the deposit schedule may differ from resale properties.
negotiating Calgary condo prices, making an offer on pre-construction condo Calgary
- Tip: Ensure your offer includes a financing condition and home inspection condition for resale condos.
9. Close the Deal
After your offer is accepted, the final step is closing. This involves finalizing your mortgage, reviewing condo documents, and transferring ownership. For pre-construction properties, you may have additional wait time before the condo is completed and ready for occupancy, but the closing process is similar.
- Tip: Work with a real estate lawyer to ensure all legal aspects are handled properly.
Costs of Buying a Condo or Pre-Construction Home in Calgary
1. Purchase Price
The price of a condo or pre-construction home in Calgary can vary widely depending on location, building type, and unit size. In 2024, the average price for a condo in Calgary is around $290,000, while pre-construction homes may offer introductory pricing that’s lower than resale options in the same area.
2. Condo Fees
Condo fees typically range from $300 to $600 per month and cover maintenance, repairs, building insurance, and amenities. Pre-construction condos may have different fee structures, so it’s important to ask about any future increases once the building is fully operational.
3. Property Taxes
Property taxes for condos in Calgary are based on the unit’s assessed value. The average property tax rate in Calgary is about 0.74%. Pre-construction units will also be taxed, but the rate will depend on the final assessed value once the building is completed.
4. Mortgage Insurance (if applicable)
If your down payment is less than 20%, you’ll need to pay for mortgage default insurance, which can be added to your monthly payments. This applies to both resale and pre-construction condos.
5. Closing Costs
Closing costs typically range between 1.5% and 4% of the purchase price and include legal fees, home inspections, land transfer tax, and adjustments for condo fees and utilities. For pre-construction condos, some additional costs may be deferred until final occupancy.
Tips for First-Time Condo and Pre-Construction Home Buyers in Calgary
- Do Your Research: Look into the financial health of the condo building, including reserve funds and any upcoming major repairs. For pre-construction properties, research the developer’s track record and project timelines.
- Get a Home Inspection: Even though it's a condo, getting a professional inspection ensures there are no hidden issues with resale units.
- Read the Bylaws: Understand the building’s rules regarding pets, renovations, and parking before committing.
- Be Aware of Deposit Structures for Pre-Construction: Pre-construction homes often require staggered deposits. Ensure you're comfortable with the payment schedule.
Conclusion
Buying a condo or pre-construction home in Calgary is a smart investment, offering a mix of affordability and urban lifestyle. By following the steps outlined in this guide and understanding the associated costs, you’ll be better prepared to make an informed decision. Whether you're looking for a downtown luxury condo, a budget-friendly unit, or a modern pre-construction home, Calgary’s real estate market has plenty to offer. Get started today and find your dream condo or pre-construction home in Calgary!
Call to Action: Ready to explore the latest pre-construction developments and condos in Calgary? Browse our exclusive listings and connect with our top-rated real estate experts today.
Upcoming New Developments in Calgary: Townhomes and Condos to Watch
Calgary is quickly becoming a hotspot for modern pre-construction homes. From affordable pre-built homes to luxurious new build condos for sale, Calgary offers a wide range of housing options. One of the most anticipated developments is Homestead Pre-Construction Homes, which promises a balance of affordability and modernity.
Affordable and Modern Homes
Looking for a blend of affordability and style? Modular pre-built homes are gaining traction, offering eco-friendly and customizable solutions. These homes provide cost savings while meeting modern architectural standards, especially in growing communities like Homestead.
For those eyeing urban life, explore new build condos SE Calgary, which are set to redefine city living. Popular developments such as SE Calgary Condos offer luxurious yet affordable options.
Investment Potential
Other Cities with Exciting Developments
Check out the growing number of affordable pre-built homes in Toronto. This includes a mix of new build condos and modular pre-built homes. Visit Toronto Pre-Construction Homes for more details.
Vancouver is known for its innovative housing solutions, with a strong focus on modular pre-built homes. Interested in new construction condos near me for sale? Explore Vancouver Pre-Built Homes for the latest listings.
Ottawa offers pre-construction homes 2024 in emerging neighborhoods. The city’s pre-sale homes market is thriving, making it a great place for investors. Browse Ottawa Pre-Built Homes for top listings.
Edmonton is becoming a go-to for new construction condos for sale and pre-built houses for sale. Find out more about the latest pre-sale homes by visiting Edmonton Pre-Built Homes.For savvy investors, pre-construction homes in 2024 are a golden opportunity. The flexibility in pre-sale homes allows buyers to lock in prices before market shifts, ensuring long-term returns. For a detailed list of investment opportunities, browse Calgary’s Pre-Construction Projects.
Whether you're looking for new construction condos for sale or pre-built houses near me, Calgary’s diverse range of offerings makes it a prime location for buyers. Interested in pre-built homes cost? Visit Calgary Pre-Built Homes to learn more.
- Toronto Pre-Construction Homes
- Vancouver Modern Pre-Built Houses
- Ottawa Affordable Pre-Built Homes
- Edmonton Pre-Sale Homes
These cities offer exciting developments, making them ideal for homebuyers and investors alike. Be sure to explore each region to find the best options that fit your needs and budget.
New Launches in Calgary:
Starting from Low $ 450k
Project Status: Upcoming
Project Location:20338-21092 Sheriff King St SW
Starting from Low $ 369k
Project Status: Upcoming
Project Location:Carrington Blvd NW, Calgary, AB
Top 5 pre constructions homes in calgary:
By Truman
Starting from Low $ 504.67k
Project Location:100 Street Southeast & Township Road 244
By Minto Communities
Starting from Low $ 293.71k
Project Location:8533 19 Avenue Southeast, Calgary, AB
Units:153
By Cardel Homes
Starting from Low $ 530k
Project Location:Silverton Community | Silverton Glen Cres Sw, Calgary, AB
4. Carrington by Mattamy Homes
By Mattamy Homes Canada
Starting from Low $ 495.99k
Project Location:183 Carrington Circle Northwest, Calgary, AB
Units:208
By Mattamy Homes Canada
Starting from Low $ 486.99k
Project Location:19515 Sheriff King Street, Calgary, AB
Units:172
Check out our listings in Calgary:
Project Location: Calgary
Centre Street Northwest, Calgary, AB
Postal code: T2K 0V1
Developed by:Truman
No of units: 432
14121 Centre Street NW is a new condo community by Truman currently in preconstruction at Centre Street Northwest, Calgary. 14121 Centre Street NW has a total of 432 units.
Project Location: Calgary
85 Greenbriar Place Northwest, Calgary, AB
Postal code: T3B 6J1
Developed by: Alliston At Home
No of units: 26
The project has a brownstone inspired design and above-average finishing specifications. Units consist of two- and three-bedroom floorplans options.
Project Location: Calgary
613 9A Street Northwest, Calgary, AB
Postal code: T2N 1T9
Developed by: Minto Communities
No of units: 72
Alto is a new condo community by Minto Communities currently in preconstruction at 613 9A Street Northwest, Calgary.
Project Location: Calgary
1880 85 Street Southwest, Calgary, AB
Postal code: T3H 3X2
Developed by: Slokker Homes
No of units: 400
Cobalt Mixed Use is a new condo community by Slokker Homes currently in preconstruction at 1880 85 Street Southwest, Calgary.
Project Location: Calgary
6 Avenue Southeast & 5 Street Southeast, Calgary, AB
Postal code: T2G 0H3
Developed by: Fram + Slokker
No of units: 160
Vibe is a new condo community by Fram + Slokker currently in preconstruction at 6 Avenue Southeast & 5 Street Southeast, Calgary.
Project Location: Calgary
1901 5 Street Southwest, Calgary, AB
Postal code: T2S 0E2
Developed by: Truman
No of units: 70
1901 College Condos is a new condo community by Truman currently in preconstruction at 1901 5 Street Southwest, Calgary.
Project Location: Calgary
2027 81 Street Southwest, Calgary, AB
Postal code: T3H 3V8
Developed by: Truman
No of units: 157
2027 81 Street SW is a new condo community by Truman currently under construction at 2027 81 Street Southwest, Calgary.
9. Sage Hill Park Future Phase
Project Location: Calgary
14040 Symons Valley Road Northwest, Calgary, AB
Postal code:T3P 0G4
Developed by: Brad Remington Homes
No of units: 122
Sage Hill Park Future Phase is a new condo community by Brad Remington Homes currently in preconstruction at 14040 Symons Valley Road Northwest, Calgary. Sage Hill Park Future Phase has a total of 122 units.
Project Location: Calgary
1706 33 Street Southwest, Calgary, AB
Postal code: T3C 1P3
Developed by: Truman
No of units: 49
West 33 Townhomes is a new condo and townhouse community by Truman currently in preconstruction at 1706 33 Street Southwest, Calgary.
Project Location: Calgary
128 Avenue NE & Cornerstone Blvd NE,Calgary
Postal code: T3N 1G6
Developed by: Truman
No of units: 217
Comprising two 5-storey structures, Myne Condominiums will feature a total of 217 units, all boasting views of a scenic pond and lush green surroundings.
Status: Selling
Address: 850 Belmont Drive Southwest, Calgary, AB
Developer: StreetSide Developments (Calgary)
Status: Selling
Address: 528 Seton Circle Southeast, Calgary, AB
Developer: Trico Homes
Status: Selling
Address: 99 Shawnee Boulevard Southwest, Calgary, AB
Developer: Graywood Developments
Status: Selling
Address: University District Community | 4410 University Avenue Northwest, Calgary, AB
Developer: Rohit Communities
Status: Selling
Address: Sage Walk Community | 30 Sage Hill Walk Northwest, Calgary, AB
Developer: Logel Homes
Status: Selling
Address: Seton West Community | 200 Seton Circle Southeast, Calgary, AB
Developer: Logel Homes
Status: Selling
Address: Savanna Community | 541 Savanna Drive Northeast, Calgary, AB
Developer: Homes by Avi
19. Riverstone Manor Building 2
Status: Selling
Address: Cranston's Riverstone Community | Main Street Southeast & Seton Drive Southeast, Calgary, AB
Developer: Cedarglen Living
Status: Selling
Address: 727 1 Avenue Southwest, Calgary, AB
Developer: Graywood Developments
Status: Selling
Address: 205 17 Avenue Southwest, Calgary, AB
Developer: Homes by Avi
By Luxuria Homes
Starting from Low $ 500k
Project Location:Belmont Boulevard Southwest, Calgary
By Avalon Master Builder
Pricing not available
Project Location:135 Mahogany Parade Southeast, Calgary
Units:132
By Cedarglen Living
Starting from Low $ 302k
Project Location:19489 Main Street Southeast, Calgary
Units:TBA
By Trico Homes
Starting from Low $ 610k
Project Location:63 Edith Terrace NW, Calgary, AB
Units:TBA
By Sterling Homes (Calgary)
Starting from Low $ 799.4k
Project Location:49 Creekside Avenue Southwest, Calgary
Units:TBA
By Brookfield Residential
Starting from Low $ 768.4k
Project Location:154 Rowley Way Northwest, Calgary, AB
Units:TBA
By Homes by Avi
Starting from Low $ 373.7k
Project Location:205 17 Avenue Southwest, Calgary, AB
Units:155
By Logel Homes
Starting from Low $ 282.9k
Project Location:Mahogany Community, Calgary, AB
Units:104
30. Livingston Essential Townhomes
By Rohit Communities
Starting from Low $ 284.9k
Project Location:14658 1 Street Northwest, Calgary, AB
Units:78
By Rohit Communities
Starting from Low $ 640k
Project Location:Alberta 22X & 104 Street Southeast, Calgary
Units:TBA
By Truman
Pricing not available
Project Location:Walgrove Boulevard Southeast, Calgary, AB
Units:TBA
By Truman
Pricing not available
Project Location:Rangeview Boulevard Southeast & Lavender Road Southeast, Calgary, AB
Units:TBA
Check out our Sage Walk listings in Calgary on Condomonk:
Starting from Low $ 265.9k
Project Status: Selling
Project Location:Sage Walk Community | 40 Sage Hill Walk Northwest, Calgary, AB
Starting from Low $ 242.9k
Project Status: Selling
Project Location:Sage Walk Community | 50 Sage Hill Walk Northwest, Calgary, AB
Starting from Low $ 215.4k
Project Status: Selling
Project Location:60 Sage Hill Walk Northwest, Calgary, AB
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Note: Condomonk is Canada's one of the largest database of new pre construction homes. Our comprehensive database is populated by our research and analysis of publicly available data. Condomonk strives for accuracy and we make every effort to verify the information. The information provided on Condomonk.ca may be outdated or inaccurate. Condomonk Inc. is not liable for the use or misuse of the site's information.The information displayed on condomonk.ca is for reference only. Please contact a liscenced real estate agent or broker to seek advice or receive updated and accurate information.