Mortgage Rates in Calgary - Affordable

When it comes to Real Estate in Canada, Alberta is among the top provinces for selling and buying. Even though Alberta's home costs are the third most expensive in the country, the average income of an Albertan is enough to pay for the mortgage in full; about $2,000 per two weeks.

Calgary is the ninth most expensive real estate market in Canada. However, Calgary also offers its citizens higher incomes, plenty of career opportunities, great school systems, and many more luxuries. You and your personal circumstances depict whether the two sides of Calgary's market balance out to your advantage. A mortgage broker is pretty handy to figure out if Calgary is the right place for you to buy a home.

As Canada faces a drop in the affordability of houses, Alberta's housing costs remains commendable. Even though the rates rose between 0.5% and 1.3%, Alberta is one of the most affordable provinces in the country. The average Albertan family spends 36% of their gross income to pay the cost of mortgage payments, property taxes, and utilities for a standard two storey house, and only 21% to be spent on a condominium. The CREA predicts a higher resale activity in Alberta as sales grew by 7.3% in 2011 and is presumed to reach another 6.8% in 2012. This is a hefty raise in re-sales, estimated at about 53, 000 new home owners per year.

According to figures from September 1, 2011 by the Calgary Real Estate Board, the sales are on the rise for Calgary's higher-end homes. From the beginning of 2011 up to the end of August, 948 single family homes costing $700,000 and up were sold. This beats last year's 779 homes sold. Sales for condos ranging from บ้านมือสอง สุทธิสาร $200,000 and under also received a steady hike. 843 condos, $200,000 or below were sold in 2011 compared to 596 in 2010.

"We are seeing a lift in sales at both ends of the market." Sano Stante, past president of the Calgary Real Estate Board states: "Improving economic conditions coupled with affordability and price stability has given Calgary a boost in buyers for upper-end homes and entry level condos."

Before jumping into the Calgary real estate market, consider how long you are going to reside in Calgary. Since Calgary is growing at such a speedy rate, it's almost impossible to tell where the real estate market will be in five, ten, twenty-five years from now. If you live in Calgary long enough, then your property is likely to be worth a lot more to you. Taking advantage of the Calgary real estate market takes time, so plan ahead and determine whether or not this is a long-term or short-term investment.