The Calgary Home Buyer’s Guide

Last reviewed: October 2026. Rules and fees change, so confirm current details with your lender and lawyer.

We’re the Berg Estate Team, Calgary REALTORS® with eXp Realty. If you have questions at any point, call us at 587-888-2919 or book a discovery call.

The home-buying process at a glance

1. Get your finances in order and get pre-approved.
2. Choose a REALTOR® and sign a buyer service agreement.
3. Search for homes and book showings.
4. Write an offer with the right deposit and conditions.
5. Satisfy your conditions: financing, inspection, condo documents.
6. Go firm, then work with your lawyer and lender.
7. Close and take possession.

Each step is explained below.

Step 1: Get pre-approved for a mortgage

A mortgage pre-approval tells you how much a lender is likely to lend you, at what rate, and for how long that rate is held. It helps you set a realistic budget, and it shows sellers you’re a serious buyer. A pre-approval is not a final approval: the lender will still review the specific property (often with an appraisal) and confirm your documents once you have an accepted offer.

How lenders decide what you can afford. Lenders look at your income, debts, credit history and down payment. For insured mortgages, CMHC’s guidelines say your housing costs (mortgage principal and interest, property taxes, heating, and half of any condo fees) generally shouldn’t exceed 39% of your gross household income. Your total debt load, including car loans, credit cards and other debts, shouldn’t exceed 44%.

The mortgage stress test. Federally regulated lenders must qualify you at a higher rate than your actual mortgage rate: the greater of your contract rate plus 2%, or 5.25%. For example, if your rate is 4.5%, you qualify as if it were 6.5%. This applies to both insured and uninsured mortgages.

Mortgage broker or bank? You can go directly to your bank or use a licensed mortgage broker who compares several lenders. Either way, compare the rate, the term, prepayment privileges and the penalty for breaking the mortgage early.

Try our mortgage calculator to estimate monthly payments.

Step 2: Plan your down payment

The minimum down payment in Canada depends on the purchase price:

Purchase price	Minimum down payment
$500,000 or less	5% of the purchase price
$500,000 to under $1.5 million	5% of the first $500,000, plus 10% of the portion above $500,000
$1.5 million or more	20% of the purchase price

Example: on a $600,000 home, the minimum is 5% of $500,000 ($25,000) plus 10% of $100,000 ($10,000), for a total of $35,000.

Mortgage loan insurance. If your down payment is under 20%, you’ll need mortgage default insurance (from CMHC or a private insurer). The premium is a percentage of your mortgage and is usually added to the loan. Insured mortgages are available on homes priced below $1.5 million.

Amortization. The standard maximum amortization for an insured mortgage is 25 years. Through CMHC’s Home Start program, first-time buyers and buyers of newly built homes can get up to 30 years on an insured mortgage, which lowers the monthly payment but increases the total interest you pay.

Programs that can help first-time buyers:

• First Home Savings Account (FHSA): contribute up to $8,000 per year, to a $40,000 lifetime limit. Contributions are generally tax-deductible, and qualifying withdrawals to buy a first home are tax-free.
• RRSP Home Buyers’ Plan (HBP): withdraw up to $60,000 from your RRSPs tax-free to buy a qualifying home, then repay it over time. You can use the FHSA and the HBP for the same purchase if you meet the conditions of each.
• First-time home buyers’ tax credit: claim up to $10,000 on your tax return, for a federal tax credit of up to $1,500.
• First-Time Home Buyers’ GST rebate (new homes): eligible first-time buyers of a newly built home may get a rebate of up to 100% of the GST (maximum $50,000) on homes up to $1 million, phasing out between $1 million and $1.5 million. Eligibility depends on the agreement date and other rules, so confirm with the CRA and your builder.

Check the official pages for current eligibility rules before you rely on any program.

New to Canada? Read our newcomer mortgage and home buying guide.

Step 3: Work with a REALTOR®

In Alberta, before a real estate professional can represent you as a client, they must give you RECA’s Consumer Relationships Guide and you’ll sign a written buyer service agreement. The agreement sets out the services, the term and how the brokerage is paid, and its terms are negotiable. We’ll go through it with you line by line.

Your REALTOR® helps you search, books showings, pulls comparable sales so you don’t overpay, writes and negotiates your offer, and keeps the transaction on track to closing. Set up a free Home Finder alert to get new listings that match your criteria.

Step 4: Search, view homes and choose a community

Calgary has many communities, and each one feels different. Think about:

• Commute and transit: CTrain and bus routes, and access to Deerfoot, Stoney, Crowchild or Glenmore Trail.
• Home type: detached, semi-detached/duplex, townhome or apartment-style condo, each with different costs and responsibilities.
• Fees: many newer communities have homeowners or residents association fees, and condos have monthly condo fees.
• Schools: check designated schools with the Calgary Board of Education and Calgary Catholic School District, because boundaries change.
• Flood mapping: for homes near the Bow or Elbow River, check the address on the City of Calgary’s flood maps.
• Suites: if a home has a basement suite and you plan to rent it, check the City’s Secondary Suite Registry to confirm it is permitted and inspected.

Browse our community pages and current Calgary listings. Communities we know well include Mahogany, Seton, Cranston, Auburn Bay, Evergreen and Bridlewood. See all of them in our Neighbourhood Guide.

Step 5: Make an offer

In Alberta, offers are written on a standard purchase contract. Key parts include:

• Price: based on recent comparable sales, which we’ll pull for you.
• Deposit: paid within a short, agreed time after acceptance and held in trust. It is credited to your purchase at closing. We’ll recommend a deposit that fits the price and market.
• Conditions: protections that let you walk away if something isn’t satisfied by a set date (see Step 6).
• Completion (possession) day: the date you take ownership. Under the standard Alberta contract, possession is at 12 noon on that day unless otherwise agreed.
• Included items: appliances, window coverings and other attached or unattached goods should be listed clearly.

If there are multiple offers, we’ll talk through your strategy, including how far to go on price and conditions, so you can make a decision you’re comfortable with.

Step 6: Conditions, inspection and due diligence

Common buyer conditions in Alberta include:

• Financing: your lender approves the mortgage for this property.
• Property inspection: under the standard contract, the inspection is done by a licensed home inspector. In Alberta, home inspectors and home inspection businesses must be licensed by the province. Attend the inspection if you can and ask questions.
• Sale of your current home, if you need to sell first.
• Condo document review for condos and many townhomes (see below).
• Other conditions as needed, for example insurance or a review of the RPR.

Each condition has a “condition day” deadline. You must give written notice that conditions are satisfied or waived by then, or the contract ends. Waiving conditions to compete is a serious risk. We’ll explain exactly what you’d be giving up before you decide.

Real Property Report (RPR) and title insurance

An RPR is a legal survey document prepared by an Alberta land surveyor. It shows the property’s boundaries and where the buildings and other improvements sit. Under the standard Alberta contract, the seller provides a current RPR with evidence of municipal compliance. In Calgary that is usually the City’s Certificate of Compliance. Your lawyer reviews it before closing.

Title insurance is an insurance policy that can protect against certain title and survey problems. Some lenders accept or require it, and it can sometimes stand in for an RPR issue at closing, but it isn’t the same as a current survey. Ask your lawyer whether it’s recommended for your purchase.

Buying a condo in Alberta

Condo buyers have extra homework, and it matters:

• Condo documents: under Alberta’s Condominium Property Act, a buyer (or their agent) can request documents from the condo corporation. These include the bylaws, budget, financial statements, the reserve fund study and plan, insurance details, recent minutes and any known structural problems. The corporation must provide them within the time set by law.
• Reserve fund study: Alberta condo corporations must have a reserve fund study done at least every five years, planning at least 30 years ahead, and adopt a reserve fund plan. A low reserve or upcoming major repairs can mean higher fees or special assessments.
• Condo fees and what they cover, plus any special assessments, current or planned.
• Bylaws: rules on pets, rentals, renovations and parking.
• Insurance: the building’s coverage and deductibles, and what your own unit policy needs to cover.

We recommend making your offer conditional on a satisfactory review of the condo documents, and we can help you or a condo document reviewer go through them.

Buying a newly built home

New homes in Alberta come with mandatory warranty coverage under the New Home Buyer Protection Act: 1 year for materials and labour, 2 years for delivery and distribution systems (electrical, plumbing, heating, ventilation and air conditioning), 5 years for the building envelope and 10 years for major structural components. GST applies to new homes, and eligible first-time buyers may qualify for the GST rebate above. Builder contracts are different from resale contracts, so have your lawyer review the agreement. We can also represent you with the builder.

Step 7: Closing costs in Calgary

Plan for closing costs on top of your down payment. CMHC suggests budgeting roughly 1.5% to 4% of the purchase price. In Alberta they typically include:

Land Titles registration fees (instead of a land transfer tax). Alberta has no provincial land transfer tax. Instead, buyers pay registration fees to Alberta Land Titles:

• Transfer of land: $50 plus $5 for every $5,000 (or part of $5,000) of the property’s value.
• Mortgage registration: $50 plus $5 for every $5,000 (or part of $5,000) of the mortgage amount.

Example: on a $500,000 home with a $400,000 mortgage, the transfer fee is $50 + (100 × $5) = $550, and the mortgage registration fee is $50 + (80 × $5) = $450, for a total of $1,000 in registration fees.

Other closing costs to budget for:

• Legal fees and disbursements: ask your lawyer for a written quote.
• Home inspection fee: ask the inspector for a written quote before you book.
• Appraisal fee, if your lender charges one.
• Title insurance, if used.
• Property tax and utility adjustments: if the seller has prepaid property taxes or fees past possession day, you reimburse them at closing.
• Condo fee adjustments for condos.
• GST on new homes, unless it is included in the price or rebated.
• Home insurance, which your lender will require from possession day.
• Moving, utility hook-ups, and any immediate repairs or furniture.

Your lawyer will send a statement of adjustments before closing showing exactly what you owe.

Step 8: Firm, closing and possession day

Once conditions are removed, the deal is firm. Next:

1. Your lender finalizes the mortgage and sends instructions to your lawyer.
2. You meet your lawyer to sign the mortgage and transfer documents and to provide the remaining down payment and closing costs, usually by bank draft or wire.
3. Your lawyer registers the transfer and mortgage at Land Titles and arranges payment to the seller.
4. Possession day: under the standard Alberta contract, possession is at 12 noon. We’ll coordinate key release once your lawyer confirms the deal is complete.

Before possession, set up home insurance, utilities (electricity, gas, water and waste), internet and your change of address. A final walk-through, if your contract allows one, lets you confirm the home’s condition and included items.

Calgary buyer checklist

• Pre-approval in hand, and you know your stress-test budget
• Down payment and closing-cost funds ready (and FHSA/HBP paperwork if using them)
• Buyer service agreement signed and understood
• Communities shortlisted; commute, fees, school designations and flood maps checked
• Offer with appropriate conditions (financing, inspection, condo documents)
• Licensed home inspection booked
• Condo documents reviewed (if applicable)
• Lawyer chosen; RPR and title reviewed
• Insurance and utilities arranged for possession day