Whether you’re upsizing, downsizing, or relocating, one of the most significant questions we help clients answer is: Should I buy my new home first, or sell my current home before shopping the market?

With over 25 years of combined experience navigating Calgary’s dynamic real estate landscape, we can confidently say that there’s no one-size-fits-all approach. Instead, the right decision comes down to each client’s financial position, timelines, needs, risk tolerance, and — most importantly — the current market conditions.

Let’s walk through the pros and cons of each strategy to help you determine which might be the best fit for your situation.

Buy First, Then Sell - When It Works

A buy-first strategy often makes sense in tight markets, where competition is high, inventory is low, and finding the right home takes time.

Benefits of buying first:

• You only move once. Buying first allows you to avoid the disruption and cost of temporary housing between transactions.

• You have time to find the right property. Without the pressure of an imminent possession date, you can focus on finding a home that truly meets your needs.

• You can use the “Sale of Buyer’s Home” (SOBH) condition. This lets you make an offer that’s conditional on the sale of your current home, giving you valuable breathing room between buying and selling.

Despite the benefits of buy-first strategies, there are some drawbacks to consider:

• Mortgage qualification is key. You'll need to be pre-approved for financing without a firm sale on your current home—something not every buyer can qualify for.

• Budget uncertainty. Without knowing precisely what your current home will sell for, it’s harder to set a confident budget for your next purchase.

• Potential for double mortgage payments. If your home doesn’t sell promptly, you may be juggling dual mortgage payments, adding stress and urgency to reduce your list price for a quicker sale.

• SOBH condition offers can be less attractive to sellers. These are seen as riskier by sellers and typically include a 48- to 72-hour “escape clause,” allowing sellers to accept stronger backup offers. In competitive markets, this condition can reduce your negotiating power.

Sell first, Then buy - Playing it Safe

Selling your home first is typically the more conservative approach, especially in buyer-heavy markets where homes can take longer to sell and new listings are more abundant.

Benefits of selling first:

• You know your exact budget. With a firm sale, you’ll know how much you can spend, helping you shop with confidence and clarity.

• Stronger position. Offers without sale conditions are more attractive to sellers, giving you an edge in negotiations.

• Reduced financial risk. No double mortgage payments, and less likelihood of buyer’s remorse from making a rushed decision under pressure.

As with buy-first strategies, sell-first approaches also come with drawbacks we like homebuyers to be aware of before choosing a strategy that’s right for them:

• Timing pressures. Even if you ask for a longer possession (60–90 days is typical), when you sell your home, there’s still a risk you won’t find the right home in time.

• Temporary housing may be needed. If the perfect home doesn’t appear within your time frame, you might need to bridge the gap with a short-term rental or Airbnb. It’s good to have a backup plan in place before you sell, along with an estimate of how much temporary housing will impact your overall budget.

• You may feel rushed. The pressure of a deadline can lead buyers to compromise on essentials, such as location, home size, or features, sometimes resulting in regrets.

Our Advice: Let the Market Guide You

At TB Real Estate Team, our guiding philosophy is generally: Do the more complicated transaction first.
If current market conditions make it harder to find a home, consider buying first and preparing your existing property for a smooth sale.

If your inventory is high and you anticipate that your home may take longer to sell, then consider selling first. You’ll have more options and be in a stronger position when it comes time to buy.

Remember, there’s no “right” answer, only the right strategy for you, depending on your situation and circumstances.
If you’re unsure, we’re here to help. With decades of experience in both hot and balanced markets, we’ll walk you through your options, connect you with trusted mortgage advisors, and create a plan that protects your finances — and your peace of mind.

Reach out to start the conversation.

As the Calgary real estate market shifts toward more balanced conditions, where supply and demand are more even and prices remain relatively stable, it’s increasingly essential that sellers go the extra mile to stand out in the minds of potential buyers.

Fortunately, you don’t need to invest in major renovations to make your home more appealing. By focusing on strategic upgrades and smart presentation, you can maximize your home’s value and attract serious buyers.

Here are some strategies to help you get your home market-ready and make a lasting impression.

Maximize ROI with smart upgrades

Think of selling a home like selling a car.

You wouldn’t replace the engine or repaint the entire body before selling. Instead, you’d ensure it’s spotless and appears well-maintained by having it detailed and fixing minor deficiencies like a cracked windshield or burned-out headlight.

The same logic applies to your home: focus on cost-effective improvements that maximize value without over-investing in areas that may not provide a strong return.

Paint touch-ups

Paint is one of the most affordable yet impactful upgrades. If you have darker walls, consider transitioning to Alabaster paint colour from Sherwin Williams for a warm and welcoming feel or Snowbound for a cooler, modern tone.

Flooring Repairs or Replacement

If your floors are worn or outdated, refinishing hardwood is an excellent option. Interestingly, the cost of refinishing hardwood is often comparable to installing mid-grade luxury vinyl plank (LVP), which is a highly durable and stylish choice that’s popular with families and pet owners.

Kitchen Upgrades

The kitchen is a major selling point, and small changes can make a big difference. If painting isn’t feasible, consider swapping outdated hardware for neutral, modern options that can provide a quick refresh.

Lighting

Lighting is like the jewelry of your home and plays a crucial role in its ambiance. Swapping outdated fixtures for modern designs adds elegance without a significant investment. Affordable lighting fixtures from Amazon can give your home extra charm, and replacing outdated dome lights with LED disc lights is an easy upgrade that makes a big impact.

Create a showhome feel to attract buyers

Buyers want to envision living in their new home — not stepping into someone else’s old home. Creating a clean, neutral, and hotel-like environment, similar to what you might do if you were renting your home on AirBnb, helps potential buyers visualize their future in the space.

Deep clean 

A thorough cleaning can dramatically improve your home's presentation. Clean interior appliances and cabinet interiors, dust lighting fixtures and all surfaces to create a fresh, inviting feel.

Declutter and pre-pack 

Removing excess items helps buyers envision themselves in the space. Decluttering or pre-packing personal items enables you to prepare for your move and offers a clean slate for potential buyers to picture themselves in the home.

Neutral design and decor

Replace personalized photos with neutral artwork to appeal to a broader audience. Crisp bedding, white towels, and fresh linens create that welcoming, hotel-like feel.

Boost curb appeal for a memorable first impression

It’s easy to focus your attention on the inside of your home and forget buyers form their first impression the second they pull up to the driveway.

This is especially important in Calgary’s spring real estate market, when buyers see homes as the snow is melting and imagine how they’ll use or enjoy outdoor spaces in the summer.

Do a spring clean-up

A tidy yard makes a strong first impression. Raking leaves, trimming bushes, and freshening garden beds can make your home feel inviting before buyers even step inside.

Stage Outdoor Spaces

If you have outdoor seating or standout features, consider adding potted plants or fresh cushions to showcase your outdoor space’s potential. Also, ensure fences, railings, and exterior lights are clean and in good repair.

Final thoughts

As Calgary’s real estate market shifts to balanced conditions, sellers must focus on strategic improvements to attract buyers.

By investing in minor repairs, creating a clean and inviting atmosphere, and enhancing your home’s curb appeal, you can make your property stand out and secure the best possible sale price.

If you're preparing to sell, partnering with an experienced real estate professional can provide the guidance you need to navigate Calgary's evolving market with confidence.

Don’t hesitate to contact our team for advice and help getting started!

Finding the right school for your children is one of the most important decisions you’ll make as a parent and can significantly influence where you choose to live.

As a family-friendly city recently ranked by the Economist Group as one of the world’s most desirable places to live based on high scores in health care, safety, and education, Calgary offers a variety of top-tier schools, including public, private, and charter institutions. Each option provides unique advantages depending on your family’s educational and real estate priorities.

Whether you’re moving to Calgary, relocating within the city, or looking to be closer to a specific school, this guide will help you navigate your options and make the best choice for your family.

Understanding Calgary’s School Options

Here in Calgary, we’re fortunate to benefit from multiple schooling options, which, though potentially overwhelming to newcomers or first-time school parents, provide valuable and diverse choices for families.

Public Schools

Calgary’s public school system is known for its strong academics and program variety. Public school eligibility is typically determined by catchment areas, which define geographical boundaries for enrolment.

While all public schools are managed by the Calgary Board of Education (CBE), it’s essential to note that differences exist between schools depending on the school’s administration and values, teachers, and parent and community involvement.

 Additionally, parents may also apply for specialized public schools outside their designated catchment areas, including:

French/Spanish Immersion – Bilingual programs available from elementary school onward.
Alternative Programs – Focus areas such as arts, science, or Montessori-inspired learning.
International Baccalaureate (IB) & Advanced Placement (AP – Rigorous academic programs designed to prepare students for university.

Catholic Schools

Managed by the Calgary Catholic School District (CCSD), Catholic schools provide families the option to pursue a faith-based education with high academic standards. CCSD schools offer enriched learning opportunities, including Advanced Placement (AP) courses.

While, like the CBE, they accept students from outside attendance areas, priority is given to Catholic students and those living within designated boundaries.

Charter Schools

Calgary is also home to several charter schools, which are publicly funded but independently run by non-profit organizations and are not religion-based.

While they follow Alberta’s provincial curriculum, charter schools have greater autonomy in teaching methods and educational philosophies. Unlike most public schools, charter schools generally accept students from anywhere in the city and are a more affordable alternative to private education.

Private Schools

Calgary’s many private schools offer a tailored educational experience, often featuring smaller class sizes, specialized curriculums, and unique teaching methodologies. While private school enrolment is not dependent on location, tuition costs and admission requirements vary.

Considering Your Family’s Preferences and Needs

Choosing the right school goes beyond academics—it impacts your daily routine, where you may choose to live, and long-term family goals.

For example, if you feel strongly about your child attending a high-ranking public school, being able to walk to and from school, and building friendships in your local community, then deciding what area to buy a home in will be significant. In this case, you should sufficiently research public schools as part of your home search process. Also, remember that homes in desirable public school catchment areas often have higher property values and strong resale potential.

 Alternatively, if your child will attend a private or charter school, the quality of the neighbourhood's public schools may be less of a factor in your decision. You may instead focus on home size, amenities, and commuting distance to your chosen school.

Other factors we advise all families to consider include:

Commute times – Will your child’s daily school commute be manageable?
Future flexibility – Are you prepared for possible school changes as your child grows?
Multiple children – Will all your children attend the same type of school, or will you need options for different educational needs?

Do Your Due Diligence

Balancing your housing needs with your child’s education can feel overwhelming. But when you have a clear understanding of Calgary’s school system and your family’s needs, you can make an informed decision while avoiding some common pitfalls.

Double-Check Before You Buy

Never assume buying a home in an area guarantees admission to a specific school. Even with public schools, always verify your child’s eligibility with your school of choice. Conversely, if there’s an alternative public school you want your child to attend, you may not need to live in the area for them to go there.

If possible, try things on for size

When making a move, not everyone has the luxury of time. But if you’re moving to Calgary from another city and have the option to rent before buying, this can help you ensure a school or neighbourhood you’ve researched is right for your family before committing to buying there.

On the other, if you’re contemplating moving closer to a desired charter or private school to reduce commute times, consider giving your child a year or two there to ensure the school is a fit.

 If you’re moving within the city to be close to a specific school, schedule a meeting with the principal and tour the school.

Plan for the Future

Children’s educational needs—and family real estate needs—can evolve over time. Avoid overextending financially just to live near a specific school, especially when good alternative options exist.

Be mindful of compromising on home features, location, and long-term resale value when deciding to send your child to a charter or private school they’ve yet to attend.

In Summary

Moving with children involves many decisions, and school choices play a significant role in where you choose to live. By understanding Calgary’s school system and aligning your home search with your family’s priorities, you can make a confident and informed decision.

If you need expert real estate advice tailored to your family’s educational needs,

School Resources

Here are some school resources and links to schools with notable reputations in each above-mentioned category. Please keep in mind this list is not exhaustive and that rankings change from year to year.

Popular Public Elementary Schools

Sunalta School (Community: Sunalta – SW Calgary): Known for its exceptional academic programs and focus on holistic learning, Sunalta School is highly regarded for fostering a supportive and enriching environment for elementary students.

Auburn Bay School (Community: Auburn Bay – SE Calgary): Located in the family-friendly community of Auburn Bay, this school provides a vibrant atmosphere that emphasizes student engagement and community involvement.

Brentwood School (Community: Brentwood – NW Calgary): With a strong focus on academic excellence and community values, Brentwood School offers a nurturing and dynamic environment for young learners.

Chris Akkerman School (Community: Marlborough – NE Calgary): Located in Marlborough, Chris Akkerman School is renowned for its academic programs and dedication to creating an inclusive and supportive learning environment.
Popular Catholic Elementary Schools.

St. Joan of Arc School (Community: West Springs – SW Calgary): A well-loved K-9 school in West Springs, known for its close-knit community and nurturing environment, with a strong focus on academic and spiritual growth.

St. Isabella School (Community: Auburn Bay – SE Calgary): Located in Auburn Bay, St. Isabella is known for its strong academic and faith-based education, creating a supportive, value-centered environment for elementary students.

St. Luke School (Community: Brentwood – NW Calgary): Situated in Brentwood, St. Luke School is celebrated for its academic programs, active parent community, and supportive learning environment for younger children.

St. Rita School (Community: Rundle – NE Calgary): Found in the northeast community of Rundle, St. Rita School is known for its dedicated staff and strong focus on values-based education, creating a supportive and nurturing atmosphere.

Popular Charter Schools

Westmount Charter School (Community: University Heights – NW Calgary): Specializes in meeting the needs of gifted learners from Kindergarten through Grade 12, offering an enriched curriculum.

Foundations for the Future Charter Academy (FFCA) (Multiple Campuses): Provides a traditional learning environment with a focus on academic excellence and character development, serving students from Kindergarten to Grade 12.

Calgary Arts Academy (Community: Glenbrook – SW Calgary): An innovative public charter school that engages children through arts immersion to become confident learners and spirited citizens.

Connect Charter School (Community: Lakeview – SW Calgary): Focuses on inquiry-based learning, integrating technology and outdoor education for students in grades 4-9.

Popular Private Schools

Strathcona-Tweedsmuir School (Community: Okotoks – South of Calgary): An independent K-12 school offering the full International Baccalaureate (IB) program, emphasizing academic excellence and character development.

West Island College (Community: Acadia – SE Calgary): A co-educational private school for grades 7-12, known for its rigorous academic programs and leadership development opportunities.

Webber Academy (Community: Aspen Woods – SW Calgary): Serving Junior Kindergarten to Grade 12, Webber Academy focuses on academic achievement and personal growth within a supportive environment.

School Rankings & Reviews

Fraser Institute School Rankings – Annual rankings of Alberta schools.
Alberta Education - Find a School – Official school search tool.
Our Kids - Calgary Private Schools – Private school directory.

Purchasing a brand-new home is always an exciting prospect. And, as many new home development projects started in 2022-23 reach completion this year, buying a newly built home is likely top-of-mind for many Calgary buyers in 2025.

Yet, while the chance to start afresh in a new home equipped with the latest design technologies and new home warranty coverage has undeniable allure, like any significant decision, it’s essential to consider all the available information and determine whether it’s the right choice for you.

In this month’s blog, we’ve outlined the pros and cons of buying new and highlighted an alternative option if you’re keen to get the best of both worlds.

Nothing like that new home feel

There’s no question that nothing beats the joy of moving into a new home that’s truly your own, ready to be filled with memories.

Buying new means you can select or build a home that’s exactly what you or your family wants or needs and customize design features to your tastes and preferences.

But that’s not all. Here are some of the other advantages of buying new:

1. Modern design and finishings : New homes feature contemporary designs, open floor plans and trending finishes that enhance modern lifestyle and resale appeal.

2. Energy Efficiency : Modern building codes require new homes to meet higher energy efficiency standards. Features like better insulation, energy-efficient windows, potential options for solar panels, and high-efficiency appliances can reduce utility costs and environmental impact.

3. Low Maintenance Costs : From a brand-new roof and appliances to your HVAC system, maintenance costs are minimal in the early years of new home ownership.

4. Warranty Protection : New homes come with builder warranties that cover structural defects, major building systems, and even appliances for a specified period. These warranties provide a significant financial safety net and peace of mind.

5. Smart Home Technology : Many home builders outfit their homes with the latest smart home features, including programmable thermostats, security systems, and energy monitoring tools that make everyday life easier.

The grass isn’t all greener

Despite the many advantages, buying a brand-new home isn’t without considerations and compromises. First, brand-new homes typically come with a premium price tag, where buyers pay more simply for the prestige of buying new.

Secondly, even if you’re not discerning about the home builder you use, the neighbourhood you choose, and what is included in your contract, many of the aforementioned pluses of buying a new home can have their downsides.

Here are some essential items to consider if you’re thinking of buying new:

1. Unproven systems & Warranty Issues: While new systems and appliances are under warranty, plumbing, electrical and HVAC systems have not been tested through regular use. Issues may arise after the warranty expires, or builders may deem specific problems are not covered by the under warranty, leaving homeowners with unexpected costs.

2. Quality of Construction: A new home’s walls may look shiny and new, but it’s hard to see the quality behind the walls. Low barriers to entry for boutique home builders in Calgary and the desire to produce low-cost homes can lead to quality control issues. When buying new, it’s essential to do your homework and find a builder with a quality reputation that you trust.

3. Construction Delays: If you’re purchasing a home still under construction, delays due to weather, supply chain issues, or labour shortages are not uncommon and can postpone your move-in date.

4. Neighbourhood Development: In new developments, neighbourhoods may take years to mature fully. Early buyers may have to deal with ongoing construction and incomplete amenities, such as a lack of schools or sparse landscaping.

5. Additional Expenses :New homes may not include essential features like landscaping, window treatments, or additional appliances such as washer/dryer and air conditioning. These extra costs can add up quickly.

6. Limited Character or Modern Design Features that Become Outdated: New homes may lack the charm and character of older properties. They can sometimes feel uniform, especially in planned developments with similar designs. Additionally, many new design trends fall out of style quickly, adversely affecting resale value. So, opting for more timeless design features may be worth considering.

Get the best of both worlds

Suppose you want to reap the benefits of a design-forward home without the extra costs. By buying a home that is just a few years old, you can save on the premium price, shop for a property with modern design features and a layout that appeals to your taste, and sidestep many of the downsides of buying brand new.

In newer homes on the resale market, heating and mechanical systems have been used regularly, so any initial issues have probably already been repaired. Any underlying damage would be more visible and more likely to be revealed during a home inspection.

You can also shop for a home where the previous owners have already paid for and installed upgrades such as air conditioning, window coverings and landscaping.

Plus, you’ll be able to move into a new neighbourhood with finished construction and more amenities, along with green spaces, trees, and foliage that have had time to grow.

Summary

Buying a brand-new home offers many benefits, from modern designs to lower maintenance costs. However, the higher price tag and potential for hidden challenges mean it’s not the ideal choice for everyone.

Consider your priorities: Do you value energy efficiency and customizability, or do you prefer a resale home's charm and established character? By carefully weighing the pros and cons, you can make an informed decision that aligns with your lifestyle and financial goals.

Don't hesitate to reach out if you’re ready to explore new construction homes or need guidance navigating the process.

Your dream home might be just a blueprint away!

The past year was another dynamic one for Calgary real estate.

Marked by continued price growth, persistent supply challenges among lower-priced homes, and the long-awaited shift toward more balanced market conditions, home buyers and sellers saw a little bit of everything.

With 2024 drawing to a close and many of our clients asking what they can expect in Calgary real estate this coming year, in this month’s blog, we reflected on a few key trends that shaped Calgary’s real estate market this year and developments that may impact what the future holds for 2025.

Strong out of the gates but a slower, steadier finish

Following in the footsteps of 2023, the Calgary real estate market got off to a hot start in 2024, with prices rising steadily during the first few months of the year. February, March, and April were the busiest months for transactions and price growth, with high demand continuing to drive competition and multiple-offer scenarios.

However, in a surprising twist that came as a shock to many Realtors and industry experts (us included), the much-anticipated decline in Government of Canada interest rates did not lead to the predicted surge in buyer demand — as would-be buyers behaved more cautiously than expected, likely due to economic uncertainties or higher price points in specific market segments.

The resulting transition towards more balanced market conditions throughout the second half of the year was among 2024’s most significant developments; where homes were previously in multiple offers, we began to see many sell below listing price or even make price adjustments.

It’s also worth noting that rental rates — which soared in tandem with housing demand the past two years — were trending downwards. The average Calgary rental rate was down 5.5% year-over-year from 2023.

The tale of two markets

Even though the overall market trended toward more balanced conditions from August to December, many market segments continued to lean heavily toward sellers — with specific conditions varying greatly depending on home type and price point.
While the supply of homes priced over $700,000 has steadily increased month-over-month, easing conditions for buyers shopping at higher price points, lower-priced homes — especially semi-detached and detached — remained comparatively scarce when coupled with the high demand for more affordable housing options.
Additionally, many home builders focused on keeping new townhomes and condos as rentals—a strategy influenced by favourable lending rules—exacerbating the limited availability in this segment.
As of November 2024, the Calgary Real Estate Board’s (CREB) monthly market report highlighted ongoing supply shortages for lower-priced homes.

Looking ahead to 2025

What does all of this mean for 2025? Great question. It’s essential to remember that every forecast, even the most well-researched, is speculative and subject to change based on real-time market trends and current events.

That said, several developments from 2024 are likely to bear relevant impacts on housing supply and demand heading into 2025:

1. Land Rezoning - It will take time to determine the long-term impacts of 2024’s blanket rezoning land use re-designations. Still, we are seeing an uptick in development permits submitted in Calgary neighbourhoods previously zoned R1. Despite the contentious nature of the city’s rezoning, they should increase the supply of rowhouses and townhomes throughout 2025 in neighbourhoods that were previously single-family home communities.

2. New Construction - More homebuilders are leaning into townhome developments. Although concerns about oversupply and profitability linger for rentals, some are exploring the market gap for townhomes for sale, driven by sustained demand for affordable ownership options.

3. Speculative Investment - During the red-hot market in 2022, many speculative investors from out-of-province invested in pre-construction projects, betting they would dramatically increase in value by completion time, a gamble that was successful in Ontario and BC. With many of these projects finishing soon and in 2025 and not having increased in value as anticipated, many investors will be looking to sell to cut losses or put units up for rental, increasing supply to the housing or rental markets.

4. Immigration Slowdown - Following two years of record migration, Calgary is expected to see a continued slowdown in international and interprovincial migration, which could ease demand in both rental and housing markets and further contribute to the stabilization of supply and demand.

Final thoughts

Taking into account factors likely to impact supply and demand, leading industry experts are predicting the Calgary real estate market will likely see a more modest price growth of between 1-3% in 2025.

Though anti-climatic news for potential sellers and some Realtors, the continuing trend towards more balanced market conditions brings a much-needed reprieve for buyers and is generally good for the city as a whole, as the 7-10% year-over-year price growth we saw in 2022/23 is not sustainable.

Following two or three record-setting years of price appreciation, a return to comparatively stable conditions will be a tough adjustment, but there are still plenty of encouraging reasons to be optimistic about Calgary’s future growth:

• Lower housing prices with higher average incomes when compared with other major cities

• The lowest tax rate in Canada

• An entrepreneurial spirit and economic diversification, in addition to a robust oil and gas industry

• A young and educated population

• Renewed government investment in public projects and infrastructure

For all these reasons, Calgary remains an exciting place to live and invest in. As we head into 2025, the focus on balance, sustainability, and community growth promises a stable and prosperous future for the city.
Whether you’re a buyer, seller, or investor, Calgary’s long-term potential makes it a city worth watching, and 2025 could see favourable buying opportunities for investors and home buyers.
Have more questions? Send us an email or give us a call. We’d be happy to chat with you.

Conventional wisdom has always been that spring is the ideal time to list your home for sale in Calgary. The leaves are budding, the snow is melting, and the seasonally driven spring real estate market brings an influx of buyers looking for their dream homes.

That said, not all sellers have the luxury of time when listing their property for sale, and there are pros and cons to listing at any time of year.

As the seasons change again here in Calgary, we’ve put together some essential things to consider if you’re contemplating selling your home this winter or spring.

Why wait for spring to sprung?

Spring is notoriously the busiest time of year for Calgary real estate. Why?

Well, as in many cities with colder and longer winters, the warmer spring weather and extended daylight hours, combined with the lull between the busy Christmas season and upcoming summer holidays, make this an ideal time of year for buyers to move and enter the market in full force.

What this means is that sellers listing in the spring generally enjoy high demand, coupled with increased competition to fuel more offers and drive up the home's sale price.

Additionally, curb appeal is greatest this time of year, with lawns turning green, gardens beginning to bloom, and more sunlight for evening showings. So, selling when your home’s exterior naturally looks its best can attract more interest and potentially create more value among competing buyers.

Winter shouldn’t always get the cold shoulder

Despite the advantages of the spring market, the reality is that many sellers may not have the advantage of time, or their circumstances may not permit them to wait several months to list their homes for sale.

The good news is that while these sellers may sacrifice on increased curb appeal and higher market demand, there are still some pros to selling in winter:

While the spring market brings more buyers, it also brings more inventory, which means it can be challenging for your home to stand out. In the winter, homes that are well-staged to feel warm and inviting can offer a cozy appeal while facing less competition from other sellers.

Additionally, fewer buyers are casually looking for homes or just perusing the market in the winter. Buyers in the winter market often need to move more quickly due to changes in jobs, relocations, or other time-sensitive reasons. These factors can make them more driven and motivated to submit strong offers to close a deal.

Sellers who list their homes in the winter will also enjoy a slower-paced market, without the same pressure to act quickly or respond to offers or risk losing to competing listings.

Which season is best for you?

No matter the seasonal trends, at TB Real Estate Team, we always counsel clients to consider their circumstances over the strategy of trying to time the markets.

If your mortgage renewal date, financial realities, or personal circumstances will allow you to wait a few months to list in the spring — it certainly might be worth considering, especially for families with school-age children hoping to move between the end of the school year and the start of the next.

At the same time, changes in jobs, financial situations, or family demands may well outweigh any potential of delaying the sale of your home to a later date in time.

Another aspect to consider is the unprecedented conditions in the Calgary real estate market over the past two years, as seasonal slowdowns and market upticks have been far less pronounced due to historically low housing inventory levels.

This comparative easing of seasonal booms and busts has been especially true for homes priced under the $700,000 mark, where demand is still outpacing supply — meaning that sellers in this price point have enjoyed a seller’s market throughout the year.

In summary

Deciding whether to list in the winter or spring can make a significant difference when selling a home in the Calgary real estate market. Both offer unique opportunities, and each has advantages and challenges to consider as you prepare to sell your home.

If listing in winter, focus on creating a cozy and well-maintained atmosphere inside your home while ensuring snow removal and exterior maintenance to maximize curb appeal and highlight cold weather pluses like energy-efficient windows or sound heating systems and fireplaces.

If listing in spring, be prepared to act decisively, accommodate more casual buyers, and navigate a busier market.

As with any real estate decision, above all else, it’s best to consult with an experienced professional you trust and then make an informed decision that works for you and your family based on your circumstances.

Still have questions? Send us an email or give us a call. We’d be happy to chat with you.

Selling a home can often be a straightforward experience, especially when working with a seasoned Realtor® who can help streamline the process.

But when it’s a tenant-occupied property, the dynamics can change. Whether you’re a landlord with multiple properties or a first-time investor, selling a tenant-occupied property in Alberta requires careful planning, legal understanding, and clear, well-documented communication with all stakeholders.

As real estate investors, we’ve compiled a step-by-step guide based on much of our own experience to help you navigate the complexities while ensuring a smooth transaction for you and your tenants.

1. Weigh the pros and cons of selling with or without tenants

The first point we counsel home buyers to consider is whether or not they will sell “with tenants.” In other words, will you wait until the lease expires before selling the home, or will you list the property with tenants in place?
Selling a property where the buyer assumes the tenants gives you the advantage of listing your property on the market whenever you like — regardless of lease terms. It can also be attractive to potential investors, as they’re purchasing an asset from which they can earn rental income immediately. The drawback here is that you're limiting your target market to investors and excluding buyers looking for a personal residence.
Some investors also prefer to vet or select tenants through their own processes. Showing a property while tenants live in the home can also be challenging, especially if they aren’t motivated to present the house in the best light.
Selling a vacant home is easier to stage, offers more flexibility for showings, and appeals to a broader buyer pool. Still, you’ll need to give the required notice, navigate the tenant transition and consider the gap in rental income if the sale takes time.

2. Making a decision

If you’ve weighed the pros and cons but are still struggling to decide whether to sell with tenants, consider the following:

1. How easy is your tenant to interact with? Will they cooperate with showings? Do you believe they’ll commit to leaving the property during the showing? If they have pets, how will their pets be managed?

2. Are any major repairs needed that will increase the property's saleability? Forgoing repairs because the property is tenant-occupied can leave money on the table or even impact the likelihood of a sale.

3. Will the property be tidy for showings or left as a mess? As noted above, tenants do not have the same financial incentives as owners to ensure a home is shown in the best possible light.

In other words, if you plan to list a property while it is tenant-occupied, you’ll want to ensure your tenant is cooperative and willing to keep it tidy for showings and that no major repairs are needed.

If these factors are not in place, it might be in your best interest to wait until lease terms are up and sell the property vacant to increase the likelihood of selling at a fair or great price.

3. Know the laws

Regardless of what you might have written into your lease, it’s crucial to understand that in Alberta, tenants have rights protected by the Residential Tenancies Act (RTA). These rights will often supersede any other exceptions or clauses, even if they’re put in writing.
Before communicating with your tenants about selling the property, knowing the legal requirements specific to your situation is essential to avoid potential misunderstandings or difficulties in communication.
When considering tenancy laws, there are generally three key points to consider:

• Tenants' Right to Stay - If the property is sold, the tenant generally has the right to stay until the end of their lease. The new owner cannot terminate the lease agreement unless the lease permits or both parties mutually agree.

• Proper Notice - If you have a fixed-term lease and your tenants intend to stay for the full term and want to sell the property vacant, you must wait for the lease to expire before selling. If the lease is periodic (e.g. month-to-month), Alberta law requires a minimum of three calendar months' notice if the new buyer plans to occupy the property themselves.

• Showings - Tenants must be given at least 24 hours written notice before a showing. All showings must be conducted between 8 a.m. and 8 p.m., and tenants can refuse entry under certain circumstances (such as illness).

4. Establish open communication

Once you’ve decided to sell, and you have an idea as to whether or not you will sell “with tenants,” we suggest having an open and honest conversation with your tenants as early as possible.

Not only does this build trust, but it can also make the process smoother. Your tenants may have concerns about how the sale will affect them, and being upfront can help alleviate their worries and positively impact communication throughout the process.

Some landlords may even offer additional incentives to tenants to cooperate during the sale, such as rent reductions during the showing period or covering moving costs if they decide to exit the lease and leave early.

If pursuing these options, they should always be well-documented, put in writing, and formally agreed upon by both parties.

5. Go with the pros

When selling a tenant-owned property, it’s important to work with a real estate agent who has experience selling or owning investment properties — ideally both.

An experienced agent will be familiar with local market conditions and the specific challenges of managing showings, legalities, negotiations, and closing deals with tenants in place.

They can also help position the property to attract buyers looking for investment properties with existing tenants or help highlight other features such as rental income potential, solid tenant history, and property condition.

At TB Real Estate Team, we also work collaboratively with the best real estate lawyers to ensure you comply with Alberta’s tenancy laws throughout the process.

Summary

Selling a tenant-occupied property in Calgary can be complex, but it can be done smoothly with the right approach. Understanding tenant rights, keeping communication open, and working with professionals who know the market are key to ensuring a successful sale.Whether you sell with tenants in place or wait for the lease to end, there are opportunities to attract the right buyer and complete the sale on favourable terms.
If you’re interested in selling a tenant-occupied property or have questions about anything you’ve read here, don’t hesitate to reach out.

Over the past two years, Calgary has emerged as one of Canada's fastest-growing real estate markets — outpacing the traditional high-demand markets of Toronto and Vancouver, where year-over-year growth has slowed due to higher prices, increased borrowing costs and market stabilization efforts.

Yet, despite increased prices and a low supply of housing options under $500,000, migration rates to Calgary remain historically high, and more people see Calgary as a compelling alternative to its coastal counterparts.

So, what makes Calgary a unique Canadian destination for home buyers and investors? This month’s blog breaks down the comparative pros of Western Canada’s largest city.

Affordability rules the roost

For many hardworking Calgarians, real estate price increases over the past two years have made ownership feel increasingly out of reach. However, the fact remains that real estate prices in Calgary are still considerably lower than in Toronto and Vancouver — which means for prospective buyers in those markets, real estate prices here are very appealing. 

What you might pay for a small two-bedroom apartment in downtown Toronto can still fetch you a reasonably sized, single-family home with a backyard in many of Calgary’s most desirable suburban neighbourhoods.

Additionally, Calgary’s relative affordability extends beyond housing. Due to comparatively cheaper costs on regular household expenses such as gas and insurance, lower property taxes and no sales tax, the overall cost of living in Calgary is also less than in many other major Canadian cities.

Life in the VAST lane

Calgary consistently ranks among the top of many quality-of-life surveys, and it’s easy to see why. Not only is the city more affordable than Toronto and Vancouver, but it also offers a perfect balance between urban amenities and natural beauty with an incredibly vast backyard.

A haven for outdoor enthusiasts, Calgary is just a short drive from the Rocky Mountains to the west and the beautiful and historic badlands and prairie landscape to the east — perfectly situated for skiing, afternoon hikes or weekend camping adventures.

Inside the city, Calgarians enjoy easy access to hundreds of kilometres of bike and walking paths along the Bow and Elbow Rivers and many sizable outdoor recreation areas and parks such as Nosehill and Fishcreek Park.

Renowned for its clean air, safe neighbourhoods and excellent education systems, many buyers from Toronto and Vancouver are also pleasantly surprised by Calgary’s sunny, albeit chilly, winters.

As many Calgarians profess, Calgary boasts more hours of sunshine per year than any other major Canadian city — making it a bright and vibrant place to live, a sentiment the city’s new slogan, ‘Blue Sky City,’ is intended to evoke.

Big city, small-town vibe

Calgary’s cultural scene is as diverse and vibrant as its rapidly growing population. The city hosts numerous cultural festivals, arts events, and live performances annually, celebrating its multicultural community.

Yet, despite being a large urban center with a food, restaurant, and entertainment scene that matches any major Canadian city, Calgary maintains a strong sense of community and village-mindedness that is often associated with smaller towns and typical of rural Alberta.

We’re proud to say our city’s residents are known for their welcoming nature, and the community spirit is palpable, especially during events like the Calgary Stampede. This strong community vibe sets Calgary apart from the hustle and bustle often found in larger cities like Toronto and Vancouver.

The promise of tomorrow

While Calgary’s strong, oil-based economy is typically associated with boom and bust cycles, summed by the humourous Alberta proverb: “lord give me one more oil boom, and I promise not to waste it,” There are positive signs Calgary’s economy is diversifying, making it more resilient to future swings in the price of commodities.

Quickly emerging as a tech hub, the city has seen significant growth in tech startups, and there are numerous initiatives to foster innovation and attract tech talent with lower operating costs compared to Toronto or Vancouver.

It’s also worth noting that the City of Calgary is investing in several sizable infrastructure projects, including the recently completed BMO convention centre, a new stadium for the Calgary Flames hockey team, a new Arts Commons building, and the Green Line — a north/south extension to the city’s C-train transit system.

Collectively, these capital projects are encouraging signs that the City Council is investing in Calgary's economic growth and regional influence.

Summary

While undoubtedly Vancouver and Toronto have a unique appeal, Calgary stands out for its strong sense of community, affordability, economy, and high quality of life.

Whether looking for a place to call home or a promising investment opportunity, Calgary offers a combination of benefits that are hard to find elsewhere in Canada. As the city grows and diversifies, its real estate market is poised for a bright future, making now the perfect time to consider Calgary your next destination.

If you’re interested in exploring Calgary’s real estate market or learning more about what this incredible city offers, don’t hesitate to reach out.

There’s no question that 2023 has proved to be an exceptional year in the Calgary real estate market. 

Despite regular increases in the cost of borrowing, the Calgary market has continued to soar, especially compared to other major Canadian markets like Toronto and Vancouver.  In fact, the average price for a detached home in Calgary increased from $637k to $707k from August 2022 to August 2023.

However, after a record-setting summer, many potential sellers are wondering what’s in store this fall and whether or not the fall real estate market will carry forward the momentum we’ve seen this year or dip in the direction of annual market trends. 

Here are a few things to contemplate if you’re considering entering the real estate market in fall 2023.

Seasonal Trends in the Calgary Real Estate Market

Historically, the most active months in the Calgary real estate market are April, May and June.  Both the increased daylight hours and more favourable weather make this an ideal time for property showings and showcasing a home’s curb appeal. 

Additionally, many buyers looking to make a purchase before summer vacation or before the next school year begins enter the market at this time, furthering the seasonal increase in demand. 

Thus, historically, the summer real estate markets tend to favour sellers, who can take advantage of the influx of motivated buyers. Whereas the fall and winter seasons present increased buyer opportunities with reduced competition.

What's Different Heading into Fall in 2023?

Generally speaking, the first signs of the seasonal market slowdown here in Calgary begin as early as mid-July, as many folks settle into their summer rhythms and holiday plans.

Yet the 2023 Calgary real estate market remained remarkably strong throughout the summer and, as of September 1st, continues to show signs it’s ready to buck many annual trends.

For some comparison, Calgary home sales for August 2023 were up nearly 28% over last year. And, thanks to a surge in the condominium market, August sales reached a record high of 2,729 units, with the benchmark price of a Calgary home reaching $570,700 — a 7.9% increase over last year. 

What’s behind all this? 

The short answer is immigration and inventory. With interprovincial and international migration, we have an average of 62 people moving to Calgary daily. At the same time, inventory rates are down 32% from August 2022. 

In addition, demand is still high as we head into the fall market, as many buyers still haven’t secured a home.  So despite a slight seasonal decrease in overall sales activity, we still have an 87 percent sales-to-new-listings ratio and only 1.19 months of supply — down a whopping 46.9% compared to last year. 

Here’s another way of thinking about it. Typically, inventory levels for August tend to hover around 6,000 units. This year, 3,254 units are on the market —nearly half the seasonal average!

Things to Consider if You Plan to Sell Right Now

Regardless of historical and seasonal trends, the Calgary market remains a sellers' market — and, with inventory so low, a strong housing market is likely to continue into Q4 of 2023. If you plan to sell your home right now, you can expect to get a high price, potentially even with multiple offers. 

That said — if you decide to sell your house this fall, make sure you have a plan for what you will do after you sell.

Are you going to be buying another home? Will the home you want be available in this type of low-inventory market? And, if you’re planning to rent while you look for a new home, have you considered how expensive renting is right now?

These are all critical questions to ask yourself as you contemplate whether or not to enter the current market. 

As always, if you need help, advice, or assistance determining your home's current market value, don’t hesitate to reach out!

When it comes to real estate markets, no one has a crystal ball. Real estate markets — like all markets — are inherently unpredictable.

While it’s difficult to forecast market behaviour with certainty, what we can do is make reasonable projections that help clients make informed decisions based on each buyer’s needs and circumstances.

So, what constitutes an informed decision?

We tell buyers and sellers to consider three essential things when weighing the pros and cons of potential real estate choices:

1. Consider any cautionary factors;

2. Get up to date with current trends in the local market;

3. Take into account your individual circumstances.

Let’s take a closer look.

Cautionary Signs to Keep in Mind

While consumer confidence in the Calgary real estate market is strong, there are still mixed signals about where the market is headed in the next 12-18 months.

Much will depend on what happens with interest rates.

Interest rate hikes continue to stifle the appreciation of average home prices, with projected growth sitting reasonably flat or a +/- 2% price change in 2023. So even with strong consumer confidence, home values aren’t likely to appreciate much in the short term.

In addition, it is always important to remember that local real estate markets are tied to the global economy.
Even strong consumer confidence can wither quickly based on what happens in international markets, especially in the United States.

Prevailing Trends in Calgary

Despite these cautionary notes, we should be optimistic about many prevailing trends in the Calgary market.

Firstly, the city’s population growth is beginning to accelerate. More affordable housing, competitive tax rates, cheap start-up costs for new businesses, and a revived oil and gas industry are attracting newcomers from across Canada who want to purchase homes in the city.

Second, inventory is low, and supply/demand ratios in the resale market are the tightest they have been since February 2006. In the early months of 2023, we are seeing a more substantial pullback in new listings that may be tied to low inventory — i.e. homeowners may be tentative about listing a property when they know inventory is low and buyer competition is high.

In new home construction, sustained demand has prompted housing companies to hold on to higher prices to maximize their profit margins.

All of this means that Calgary home prices have fared reasonably well, particularly when compared to other major markets like Toronto and Vancouver.

What about you?

We tell clients the most important things to consider in any market are their individual needs and circumstances.
Right now, it’s a great time to buy — so long as you are comfortable holding onto the property for the next 5+ years and don’t overextend yourself.

Suppose you are a prospective buyer priced out of the Toronto or Vancouver markets. In that case, the Calgary market may be a viable option where you can capitalize on more affordable housing compared to the average income. That said, don’t let the fear of missing out compel you to purchase beyond your means.

Townhomes and condos are showing resilience in this market. So if you’re looking for a more affordable home, or downsizing or right-sizing, this might be a better option.

And it’s important to remember that with lower inventories, finding the right house that checks all of your boxes might take a little longer than expected. So, if you want to make a quick purchase, you may have to compromise on price.

Ultimately, doing this kind of due diligence will help you make an informed decision about whether or not a real estate move is right for you in 2023.

Need some additional help making an informed decision for 2023?Don’t hesitate to reach out.

This month we were featured in a blog on the realty site Zoocasa about Calgary neighbourhoods. The interview was great. It also got us thinking a bit more about some things we've learned helping folks buy homes in Calgary over the years.

There are many things to consider when searching for the right neighbourhood. Do you want to live close to family or friends? Would you like to be close to schools? What do you do for fun? What are the walking or biking scores in particular communities?

But have you thought about how some of your biases or preferences may influence your decision?

Here are two trends we've noticed that are particular to Calgary.

North versus south versus east versus west.

In Calgary, folks tend to align themselves with a quadrant of the city and stick to it, especially if they grew up here.

There's nothing wrong with buying in an area of the city you feel comfortable in or have lived in before. What you want to try and avoid is letting your preference for the familiar shut you off to other potential areas that might have a lot to offer.

Instead of drawing out boundaries by east and west or north and south, try drawing out boundaries by school catchment areas or commuting times from school or work.

Don't miss out on finding a home that checks all your boxes simply because you didn't pop a specific quadrant of the city into your search criteria.

Inner city or outer limits.

Similar to a preference for city quadrant, most folks have reasonably strong feelings about whether or not they want to live close to downtown or farther out in a newer community.

Each has a stigma; not always deserved.

Some buyers are surprised at just how much they can get in a quiet, suburban-feeling inner-city neighbourhood that's still close to the river, the pathways, and social hotspots like Inglewood, Bridgeland or Kensington.

At the same time, people who prefer the inner city are sometimes shocked to discover just how much newer and more suburban communities have to offer.

Scout it out before you doubt it.

Before you conclude about any neighbourhood or the other, take the time to check it out. We mean really check it out.

Spend a day in the life of someone who lives in that community: do some of your regular shopping errands at a few nearby shops, drive around to different schools, or head out for lunch or dinner at a restaurant in the area.

This due diligence will help you make an informed decision about whether or not a neighbourhood is right for you.

Finally, ensure you use a professional and experienced Calgary Realtor® who intimately knows our city's diverse and exciting neighbourhoods.

Need some help? Don't hesitate to reach out.

If you're typing "cheap homes for sale in Calgary" into your search browser, here is something novel to consider: nobody really wants to buy a cheap home. 

We know…who doesn't want to get something…anything…cheap? But wait, hear us out a second. 

When we say nobody wants to buy a cheap home, we actually mean nobody wants a house built cheaply in a neighbourhood where home values are stagnant.

What you do want is to invest in an affordable home in a proven neighbourhood that fits your needs and will appreciate in value over time, right?

So here are a few things to consider if you're on the hunt to buy a cheap house in Calgary.

Talk is cheap. That doesn’t mean your house should be.

First, take the word "cheap" out of your vocabulary. 

When shopping at a lower price point, you can still buy with quality and value at top-of-mind.  
Using the word cheap to describe what you are looking for can imply that you're willing to settle for something that has less value, is constructed poorly, or no one else wants to buy. 
The word 'cheap' can also adversely affect buyer behaviour. Potential buyers can overly focus on the sticker price instead of other essential features contributing to the home's long-term value.  
For example, $10,000 savings on the purchase price of a cheap home could amount to very little — if any — savings in the long term when compared to a slightly more expensive house in a better neighbourhood. 

Understand the sub-market.

When shopping for a home at a lower price point, you will also want to understand how that particular submarket is behaving compared to the broader Calgary real estate market. 
Right now, the market for lower price point homes is still very active with low inventory. 
This is in part because the high cost of renting, and high occupancy rates, are pushing many people towards home ownership as an alternative to renting.  
Though this doesn't consider how the most recent interest rate hike will affect lower price point homes, buyers in this market can still expect to find a reasonably competitive landscape, with stabler prices and limited supply. 

Compromise in the short term so you can thrive in the long run. 

When you purchase a home at a lower price point, be prepared to compromise on some items on your "wish" list and beware of the lure of the "cheap" home that is advertised as having it all for less. 
We often counsel our clients to focus on location for long-term appreciation. Consider whether the house would be suitable as a rental property when you grow out of the home. 
These are the types of factors that are going to determine the future value of your home. 
You may not be able to "have it all," but you can make smart, conscious decisions that ensure your home will be a good investment well into the future.  
Above all else, do not hesitate to consult a professional. Any advice from your real estate agent comes at no cost to you, and we have your best interests at heart. Contact the Trung Bien Real Estate Team