The Best Neighbourhoods in Calgary for Finding Bungalows

Calgary is home to a diverse array of neighborhoods that feature charming bungalows. These single-story homes have become a staple of the city’s architectural landscape, offering accessibility, efficient use of space, and timeless appeal. Whether you're a family, a retiree, or a professional looking for a new place to call home, bungalows in Calgary provide the perfect combination of comfort and style. Here's a detailed look at the top neighborhoods in Calgary where you can find bungalows.

What Makes Calgary Ideal for Bungalows?

Calgary’s housing market is known for its variety and affordability, making it an excellent city for bungalow living. With its spacious suburban developments, numerous green spaces, and family-friendly communities, Calgary has become a hub for those seeking single-story homes. Many of these neighborhoods offer a balance of affordability, accessibility, and proximity to amenities.

Top Neighbourhoods for Bungalows in Calgary

Northwest Calgary

• Brentwood: This family-friendly neighborhood is celebrated for its mature trees, spacious lots, and proximity to the University of Calgary and Northland Village Mall. Brentwood offers classic bungalows that are perfect for families and professionals alike.
• Charleswood: Nestled near Nose Hill Park, Charleswood combines serenity with convenience. Its bungalows often feature scenic views and direct access to trails, making it ideal for nature lovers.
• Varsity: An upscale neighborhood with a variety of bungalows, Varsity offers both traditional homes and modern renovations. The area is close to Market Mall, Foothills Medical Centre, and top-rated schools.

Southwest Calgary

• Lakeview: Located near the Glenmore Reservoir, Lakeview is known for its peaceful streets, outdoor recreation opportunities, and charming bungalows.
• Oakridge: This tranquil community offers spacious bungalows and access to South Glenmore Park, ideal for families and active individuals.
• Glamorgan: Affordable and accessible, Glamorgan features cozy bungalows and is conveniently located near Mount Royal University and Sarcee Trail.

Southeast Calgary

• Acadia: A family-oriented and diverse neighborhood, Acadia is known for its affordable bungalows and larger lots, which are perfect for renovations or expansions.
• Willow Park: This upscale neighborhood offers stylish bungalows and proximity to Willow Park Golf & Country Club.
• Maple Ridge: With access to Maple Ridge Golf Course, Maple Ridge is a serene and family-friendly community featuring well-maintained bungalows.

Northeast Calgary

• Pineridge: Budget-friendly and practical, Pineridge is home to traditional and updated bungalows with easy access to schools and shopping centers.
• Rundle: This diverse community offers affordable bungalows and is located near Sunridge Mall and Peter Lougheed Centre.
• Marlborough: Known for its larger lots and excellent transit options, Marlborough is a great choice for families and investors.

Bungalows for Sale in Calgary | New Builds and Resale

Factors to Consider When Searching for Bungalows

When looking for the perfect bungalow, consider factors such as proximity to amenities, architectural style, lot size, and price range. Calgary’s neighborhoods offer something for everyone, whether you’re seeking a serene retreat or a bustling community close to schools and shopping centers.

Tips for Buying a Bungalow in Calgary

Working with a knowledgeable real estate agent is essential to finding the right bungalow. Diane Richardson, a trusted expert in Calgary’s real estate market, can guide you through the process, from choosing the ideal neighborhood to negotiating the best price. Be sure to consider home inspections, potential renovations, and your long-term needs before making a purchase.

Why Bungalows Remain Popular in Calgary

Bungalows remain a popular choice for buyers due to their accessibility and versatility. With Calgary’s aging population and increasing demand for low-maintenance living, these single-story homes continue to be a sought-after option for families, retirees, and professionals alike.

Ready to find your dream bungalow? Contact Diane Richardson at 403-397-3706 for expert assistance in exploring Calgary's top neighborhoods. With her extensive knowledge and experience, Diane can help you navigate the market and find the perfect home for your needs. 













All information herein deemed reliable, but not guaranteed.Copyright © 2024, Diane Richardson, all rights reserved.

First-Time Homebuyer Programs in Calgary

First-time homebuyers in Calgary have access to various programs designed to make homeownership more attainable. These initiatives provide financial assistance, tax incentives, and unique opportunities tailored to help new buyers navigate the housing market. Here’s an overview of the key first-time homebuyer programs available in Calgary.

1. Attainable Homes Calgary (AHC)

The Attainable Homes Calgary (AHC) program is a significant resource for first-time buyers. This initiative allows participants to purchase a home with a minimal down payment of just $2,000. AHC helps bridge the gap by providing a loan for the remaining down payment, which is interest-free. In exchange, AHC takes a share of the home’s appreciation over time: 

• 100% of appreciation in the first year
• 50% after three years
• 25% after five years

This means that the longer you stay in your home, the more equity you can retain. To qualify, applicants must have a household income of less than $131,424 and total assets of no more than $50,000. There is no minimum residency requirement, making it flexible for buyers who may not wish to stay long-term.

2. First-Time Home Buyers’ Tax Credit

The First-Time Home Buyers’ Tax Credit is another valuable incentive that provides financial relief. This non-refundable tax credit offers up to $1,500, which can help offset some of the costs associated with purchasing a home, such as legal fees and inspections. The credit is available to individuals who are purchasing their first home and can be claimed on your tax return.

3. Home Buyers’ Plan (HBP)

Under the Home Buyers’ Plan, first-time buyers can withdraw up to $35,000 from their Registered Retirement Savings Plan (RRSP) without facing tax penalties. This program allows individuals to use their savings towards their down payment while providing flexibility in repayment over a period of up to 15 years. To qualify, funds must have been in the RRSP for at least 90 days prior to withdrawal.

4. Federal Assistance Programs

While specific programs like the First-Time Home Buyer Incentive were discontinued as of March 2024, other federal initiatives still support first-time buyers across Canada. The First Home Savings Account (FHSA) allows individuals to save for their first home with tax-deductible contributions up to $8,000 annually, with a lifetime maximum of $40,000. Withdrawals for purchasing a home are tax-free, making it an effective savings tool.

Navigating the housing market as a first-time buyer can be daunting, but programs like Attainable Homes Calgary, tax credits, and withdrawal options from RRSPs provide essential support. By leveraging these resources, prospective homeowners in Calgary can make informed decisions and work towards achieving their dream of homeownership more easily. Understanding eligibility requirements and how each program works is crucial for maximizing these benefits and successfully entering the housing market.

Contact Diane Richardson

If you're a first-time homebuyer in Calgary, Diane Richardson can guide you through the process and help you make the most of these programs.

Phone: 403.397.3706

Email: diane@mypadcalgary.com

Get in touch today to explore your options and take the first step toward owning your dream home!

Calgary Townhouses Without Condo Fees: A Guide to Freehold Properties

Calgary's real estate market offers a diverse range of housing options, catering to various lifestyles and budgets. Among these, townhouses without condo fees have become an increasingly attractive choice for homebuyers. These freehold properties provide homeowners with full ownership of both the interior and exterior of their units, as well as the land beneath. In this guide, we'll explore why these properties are so appealing, their benefits, and what potential buyers should know before making a purchase.

What Are Freehold Townhouses?

Freehold townhouses, also known as townhouses without condo fees, are properties where the homeowner owns the entire unit and the land it occupies. Unlike condominiums, there are no shared ownerships or monthly condo fees for common area maintenance.

Key Characteristics of Freehold Townhouses:

• Full ownership of the home and land.
• No monthly condo fees.
• Maintenance responsibilities fall solely on the homeowner.

Advantages of Freehold Townhouses in Calgary

Choosing a freehold townhouse comes with several advantages that appeal to a wide range of buyers. Here are the primary benefits:

1. Financial Freedom

With no condo fees, homeowners enjoy lower monthly costs, making these properties more affordable over time.

2. Full Control

Homeowners have complete autonomy over their property, allowing them to make modifications without needing approval from a condo board.

3. Equity Building

Owning both the home and the land allows for better equity building, which is beneficial for future resale value.

4. Privacy

Freehold townhouses typically offer more privacy than condos, as there are no shared common areas.

Are Freehold Townhouses Right for You?

These properties are ideal for individuals and families who value independence and are willing to handle their own property maintenance. However, potential buyers should consider the following:

Responsibilities of Homeownership

• Exterior maintenance (roof, siding, landscaping).
• Snow removal during Calgary's harsh winters.
• Repairs and renovations.

Budget Considerations

While you save on condo fees, it's essential to budget for maintenance and unexpected repairs.

Popular Areas in Calgary for Freehold Townhouses

Calgary has numerous neighborhoods where you can find freehold townhouses. Some popular areas include:

1. Evanston

A family-friendly community with plenty of green spaces and schools.

2. Copperfield

Known for its modern architecture and convenient access to amenities.

3. Mahogany

Featuring lakefront properties and a vibrant community atmosphere.

Explore Calgary Townhomes for Sale: 2+ Bedrooms, Double Garage, No Condo Fees, 3+ Bedrooms, 4+ Bedrooms, Under $500,000

Tips for Buying a Freehold Townhouse in Calgary

When searching for the perfect freehold townhouse, consider these tips:

1. Work with a Diane Richardson Experienced Realtor

Diane can help you find properties that match your needs and budget.

2. Inspect the Property

Ensure the home is in good condition by hiring a professional inspector to evaluate the structure and systems.

3. Understand the Local Market

Research the Calgary housing market to understand trends and property values in your desired area.

Calgary townhouses without condo fees offer an excellent opportunity for those seeking homeownership without the additional costs and restrictions of condominiums. These freehold properties provide financial freedom, privacy, and control over your living space. By understanding the responsibilities and conducting thorough research, you can find the perfect home to suit your lifestyle.

FAQs

1. What is the difference between a freehold townhouse and a condominium?

Freehold townhouses offer complete ownership of the property and land, while condominiums share ownership of common areas and typically require monthly fees.

2. Are freehold townhouses more expensive than condos?

While the upfront cost may be higher, the absence of condo fees can make freehold townhouses more cost-effective in the long term.

3. Do freehold townhouses have rules or restrictions?

Unlike condos, freehold townhouses generally have no governing board or rules, giving homeowners more freedom.

4. Can I rent out my freehold townhouse?

Yes, as the sole owner, you can rent out your property without needing approval from a condo board.

5. How do I maintain my freehold townhouse?

Regular upkeep of the interior and exterior, landscaping, and prompt repairs are essential to maintaining your property's value.

For more information or assistance with finding your perfect Calgary townhouse, contact Diane Richardson at 403.397.3706.

All information herein deemed reliable, but not guaranteed.Copyright © 2024, Diane Richardson, all rights reserved.

What to Expect When Buying a Condo in Calgary

For personalized guidance and expert advice, contact Diane Richardson at 403.397.3706.

When purchasing a condominium in Calgary, Alberta, understanding condo fees and what to look out for can significantly impact your financial planning and overall experience as a homeowner. Whether you're a first-time buyer or an experienced investor, this comprehensive guide will provide the insights you need to make an informed decision.

What Are Condo Fees?

Condo fees are monthly payments made by all unit owners in a condominium complex. These fees cover the costs of maintaining the building and its amenities and contribute to the overall operation of the condominium corporation.

Average Condo Fees in Calgary

Condo fees in Calgary typically range from $0.30 to $0.70 per square foot, with an average of approximately $0.50 per square foot. For example, a 750-square-foot unit might have fees of around $375 per month. However, this can vary widely depending on the building's amenities, age, and management style.

What Do Condo Fees Cover?

• Maintenance of Common Areas: Upkeep of shared spaces such as lobbies, hallways, gyms, and recreational facilities.
• Building Insurance: Covers the structure of the building and common areas but not the interior of individual units.
• Utilities: Some buildings include water, heating, and even electricity in the fees, while others charge these separately.
• Reserve Fund Contributions: A portion of the fees is allocated to a reserve fund for future capital projects, such as replacing roofs or elevators.
• Amenities and Services: Costs for on-site amenities such as swimming pools, saunas, gyms, and security services.

Factors Influencing Condo Fees

Several variables can affect condo fees:

• Building Age and Condition: Older buildings often require more maintenance and repairs, which can increase fees.
• Size of the Unit: Larger units pay proportionately higher fees as they represent a larger share of the condominium corporation.
• Amenities: Buildings with extensive amenities like pools, fitness centers, and concierge services typically have higher fees.
• Management Efficiency: Well-managed properties often maintain lower costs by efficiently planning repairs and capital projects.

Community-Specific Insights for Condo Buyers in Calgary

Here’s a closer look at some popular condo communities in Calgary:

• Downtown Calgary:
  • Lifestyle: Ideal for professionals seeking a vibrant urban environment with easy access to work, restaurants, and cultural venues.
  • Average Condo Fees: Typically higher due to premium locations and amenities like gyms and 24-hour concierge services.
  • Notable Buildings: The Guardian, Evolution, and Keynote condos.
• Beltline:
  • Lifestyle: Known for its trendy vibe, Beltline offers excellent walkability to shopping, dining, and nightlife.
  • Considerations: Boutique condo developments with unique layouts.
  • Notable Buildings: Arriva, Union Square, and Luna.
• Seton:
  • Lifestyle: A newer, master-planned community in Southeast Calgary with modern condos close to South Health Campus and commercial amenities.
  • Notable Buildings: Seton Park Place, Boulevard, and The Gateway.
• Eau Claire:
  • Lifestyle: Premium riverside living with luxury condos offering stunning views and proximity to Prince’s Island Park.
  • Average Condo Fees: Higher due to the exclusive location and upscale amenities.
  • Notable Buildings: The Concord and Princeton Waterfront.

What to Look Out For When Buying a Condo

1. Financial Health of the Condominium Corporation:
   • Review financial statements, budgets, and the reserve fund study to ensure the corporation is financially stable.
   • A poorly managed reserve fund may result in unexpected special assessments—one-time charges for major repairs.
2. Adequacy of the Reserve Fund:
   • Verify that the reserve fund is sufficient to cover anticipated capital expenditures.
   • Insufficient reserves can lead to significant out-of-pocket costs for owners in the future.
3. Pending Special Assessments:
   • Check if there are any upcoming special assessments that could result in additional costs.
4. Building Maintenance and Upkeep:
   • Tour the building to assess its condition.
   • Well-maintained buildings often indicate proactive management and lower chances of unexpected expenses.
5. Talk to Current Residents:
   • Speak with people who live in the building to get an honest perspective on life there.
   • Ask about their experience with the management company, the quality of maintenance, and any recurring issues like noise or parking.
   • Current residents can provide insight into community culture and the effectiveness of the condo board.
   • If possible, attend a condo board meeting to observe decision-making processes.
6. Review the Condo Documents:
   • Condo documents, including bylaws, rules, and meeting minutes, offer valuable insights into management and any recurring issues.
7. Understand Bylaws and Restrictions:
   • Review bylaws for rules on renovations, rental policies, pet restrictions, or noise regulations to ensure they align with your lifestyle.
8. Compare Condo Fees:
   • Compare fees for similar buildings in the area to determine whether they are reasonable.
   • Consider what amenities and services you’ll actually use.
9. Look for Hidden Costs:
   • Ask if fees include all utilities or if some are billed separately.
   • Confirm costs for parking and storage lockers if not included.
10. Evaluate the Management Company:
    • Investigate the management company’s track record.
    • A reputable company can make a significant difference in maintaining property value and minimizing costs.

Red Flags to Watch Out For

• Unusually Low Fees: Could indicate deferred maintenance or inadequate reserve fund contributions.
• Frequent Special Assessments: Might signal poor financial planning by the condominium corporation.
• High Vacancy or Owner Turnover Rates: Could indicate dissatisfaction among owners or issues with management.
• Poorly Maintained Common Areas: May suggest neglect or financial constraints.

Additional Costs to Consider

Beyond condo fees, keep in mind additional costs associated with condo living:

• Property Taxes
• Mortgage Payments
• Unit Insurance: Covers the interior of your condo and personal belongings.
• Move-In/Move-Out Fees: Some buildings charge for elevator use during moves.
• Parking or Storage Fees: If not included, these can add to your monthly expenses.

Tips for First-Time Condo Buyers in Calgary

1. Work with an Experienced Realtor®:
   • Diane Richardson is a trusted Realtor® with expertise in Calgary’s condo market. She can help identify potential issues, find the best deals, and negotiate on your behalf.
2. Understand Your Mortgage Options:
   • Speak with a mortgage broker to understand how condo fees might affect your loan approval and budget.
   • Ensure you qualify for both the mortgage and the additional monthly condo fees.
3. Get a Home Inspection:
   • While not common for condos, a home inspection can reveal potential issues in the unit or building.
4. Plan for Additional Costs:
   • Budget for costs like legal fees, home insurance, and potential move-in fees.
   • Factor in potential increases in condo fees over time.

Condo living in Calgary offers a convenient lifestyle with access to shared amenities and professional property management. Whether you're looking for a trendy downtown condo, a family-friendly unit in Mahogany, or a luxury suite in Eau Claire, Calgary’s diverse condo market has something for everyone.

For expert advice and tailored recommendations, contact Diane Richardson at 403.397.3706. Diane will guide you through the buying process and ensure your condo investment aligns with your financial and lifestyle goals.

FAQ About Buying Condos in Calgary

What is the average condo fee in Calgary?

Condo fees typically range from $0.30 to $0.70 per square foot, depending on amenities and building age.

Are condo fees tax-deductible in Calgary?

Condo fees are generally not tax-deductible unless the condo is used as a rental property.

How can Diane Richardson help me?

Diane Richardson provides personalized support, helping buyers navigate Calgary’s condo market, understand fees, and find the perfect property. Call her at 403.397.3706.

Contact Diane Richardson for Expert Advice

Ready to explore Calgary condos? Contact Diane Richardson at 403.397.3706 or visit www.dianerichardson.ca for personalized recommendations.

Diane is dedicated to providing a personalized, stress-free experience for buyers and sellers alike.

© All information herein deemed reliable, but not guaranteed.Copyright © 2024, Diane Richardson, all rights reserved.

Calgary Real Estate Market Update – November 2024

As the cooler weather sets in, Calgary’s housing market is reflecting the typical seasonal trends. While activity has slowed compared to the bustling fall months, demand remains strong, and November brought some interesting developments. Whether you’re a buyer, seller, or just keeping an eye on the market, here’s a detailed look at Calgary’s real estate scene for November 2024. CREB November 2024 stats (pdf)

Key Statistics

• Sales: 1,797 homes sold, steady with last year and 20% above long-term averages.
• Inventory: 4,352 homes, up from 3,000 last year but still below long-term trends.
• Benchmark Price: $587,900, reflecting a 4% increase year-over-year.

Trends in the Market

Balanced Supply Levels: Inventory has grown across most property types, leading to a more balanced market. The months of supply have increased to over two months, up from under two in recent years. This shift gives buyers more options while still favoring sellers in many segments.

Affordability Driving Demand: Row homes and apartment condos continue to attract buyers looking for affordable alternatives to detached homes. The affordability of apartments, with most gains in the $300,000–$500,000 range, is particularly noteworthy.

Price Stabilization: While prices are up year-over-year, the growth rate has tempered, reflecting seasonal adjustments. Seasonally adjusted prices have remained stable over the past four months.

District Highlights

Visual Insights

Benchmark Prices by Property Type – November 2024

Sales vs Inventory by Property Type –November 2024 

Looking Ahead

As supply continues to stabilize and prices moderate, the market is becoming more accessible for buyers, while sellers still benefit from favorable conditions in many segments. Whether you’re buying your first home or considering selling, now is an excellent time to assess your options. Is It a Good Time to Buy a House in Calgary in 2025?

Contact Diane Richardson

For personalized advice and expert guidance in Calgary’s real estate market, reach out to Diane Richardson at 403-397-3706 or visit www.dianerichardson.ca. Let’s make your real estate journey a success! email:diane@mypadcalgary.com

All information herein deemed reliable, but not guaranteed.Copyright © 2024, Diane Richardson, all rights reserved.