Calgary Condo vs. House : Which is the best decision for you?

For some people, a condominium lifestyle is the only way to live—no lawn maintenance, a pool and tennis court, and extra security features you might not have in a single-family home. Other people simply can’t breathe in a condo because the neighbours are too close for comfort. Consider the pros and cons and your specific needs and desires before deciding to buy a condo.

Because of all of the advantages of home ownership in comparison to renting, many of you will soon be reaching a point where you want to buy a home. However, you may not be sure whether you should actually buy a house or if you should look in to buying a condo instead. This is especially true for younger home buyers who might want the benefits of living in a more communal situation in a condo environment.
Should you join the condo club or go for a more traditional home ownership? Consider your lifestyle and weigh the pros and cons of each before deciding which to buy.

A condo is probably the right choice for you if:

• You don’t have a lot of money to spend but still want to invest in home ownership.
• You are interested in being part of a small community living in the same complex.
• You are comfortable living in close proximity to your neighbours.
• You are a single individual or a couple that is looking for a small home rather than a large property.
• You don’t mind having certain aspects of your home ownership regulated by a committee (a home owner’s association made up of some of the tenants who live in the other condos).
• You live in an urban area where condos are common (such as Toronto or Vancouver).
• You run a busy lifestyle and prefer to enjoy amenities like a pool or a shaded grounds area but aren’t able to maintain such amenities yourself either because of the time that it takes or the cost.

A house is more likely to be a better choice for you if:

• You have (or plan to have) a large family.
• You are a very private person who does not like living close to your neighbours, or having your home choices regulated by an association.
• You are investing in home ownership primarily for the purpose of resale of the home in the future (since property values are usually higher than condo values).
• You are seeking to purchase a large home and/or you need outdoor areas for things like large pets.
• You enjoy maintaining your own yard or garden.
• You live in a rural area or in a location where there are not many condos on the market.
   

Although there are always exceptions, condo purchases are usually best for single individuals who have neither the money to invest in a house nor the time to maintain the upkeep of a house. These tend to be young people who don’t mind apartment-style living in close quarters with their neighbours, who are comfortable having some regulation by the home owner’s association and who enjoy sharing common areas with others. Often, condo buyers are first time home buyers. If, in contrast, you are an older adult who has (or may soon have) a family and would like the freedom and privacy of a home with its own property, then a house is probably the right choice for you.

Regardless of whether you buy a house or a condo, it’s important to do your homework and consider the future of the neighbourhood you’re buying into. The old saying of “location, location, location” remains true for both. Each is a significant investment, and you need to find a safe and vibrant neighbourhood capable of nurturing your investment into the future.

Please feel free to contact Neil Rowlandson of CIR Realty today to discuss your options. Or visit my website at www.calgarycastles.com

Calgary Real Estate Market Rebounds, The worst of the recession is over.

Calgary Metro Home Prices Edge Upwards Market rebounds on news that the worst of recession is over Calgary, September 1, 2009 – Calgary metro home prices made the first year-over-year increase on a monthly basis since February 2008 according to figures released by the Calgary Real Estate Board (CREB®). Prices received an added boost from the sale of a $10.3 million home earlier this month. “Calgary’s housing prices are edging upwards as consumer confidence improves and demand continues to grow”, says Bonnie Wegerich, President of the Calgary Real Estate Board. “The recent $10.3 million-sale has undoubtedly boosted the average price this month, but even without this sale the average price is higher than a year ago.” The average price of a single family Calgary metro home in August 2009 was $454,130, showing an increase of 4 per cent from July 2009, when the average price was $436,782, and showing an increase of 3 per cent from August 2008, when the average price was $440,625. The average price of a Calgary metro condominium was $283,330 showing a 1 per cent decrease from July 2009, when the average price was $285,032 and a decrease of 2 per cent over last year, when the average price was $287,832. Average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods, or account for price differentials between geographical areas. The last time prices showed a year-over-year increase was February 2008 when single-family homes rose by 5.2 per cent from February 2007 to $471,696 and condos increased by 3.3 per cent from February 2007 to $311,812. The average price of a single family Calgary metro home in August 2009 without the $10.3 million-sale would be $446,413—coming in just above the average price one year ago. “We might see a gradual edging up in average prices come this fall, but on the whole, prices will most likely remain relatively stable. With our inventory at about a three-month supply, the market continues to be in balance,” added Wegerich. The number of single family homes and condos sold in August in Calgary metro are also both up from the same time a year ago. Typically a slower month for sales, August saw 1,277 single family homes sold in Calgary metro. This is an increase of 9 per cent from August 2008, when single family home sales were 1,170. This is a decrease of 19 per cent from 1,585 sales in July of this year. The number of condominium sales for the month of August 2009 was 632, an increase of 28 per cent from August 2008 when 495 condominiums changed hands. This was a decrease of 10 per cent from the 702 condominium transactions recorded last month. “We are seeing an upward revision of our housing market forecasts at the national level,” says Wegerich. “I think it is fair to say the recovery in the market has been a little brisker then first expected—and all signs indicate the rebound, all be it gradual, will have some longevity.” Single family Calgary metro new listings added for the month of August totaled 1,910, a decrease of 9 per cent from July 2009 when 2,089 new listings were added, and showing a decrease of 16 per cent from August 2008, when 2,270 new listings came to the market. Calgary metro condominium new listings added in August 2009 were 832, down 9 per cent from July 2009, when the MLS® saw 918 condo listings coming to the market. This is a decrease of 21 per cent from August 2008, when condominium listings were 1,054. The median price of a single family Calgary metro home in August 2009 was $400,000, showing an increase of 3 per cent from July 2009, when the median price was $390,000, and up 1 per cent from August 2008, when the median price was $398,000. The median price of a condominium in August 2009 was $260,000, down 1 per cent from July 2009, when the median was $263,000, and down 3 per cent from August 2008, when the median price was $268,500. All Calgary metro MLS® statistics include properties listed and sold only within Calgary’s city limits. The median price is the price that is midway between the least expensive and most expensive home sold in an area during a given period of time. During that time, half the buyers bought homes that cost more than the median price and half bought homes for less than the median price. “All in all we are optimistic about the fall market. Low mortgage rates, government incentives and realistic pricing on the part of sellers are contributing to healthy sales numbers—as is the recent boost in consumer confidence on news that the worst of the economic slowdown is over,” says Wegerich. CREB® is a professional body of 5,445 licensed brokers and registered associates, representing 252 member offices. The Board does not generate statistics or analysis of any individual member or company’s market share. All MLS® active listings for Calgary and area may be found on the Board’s website at www.creb.com.

Courtesy Creb Calgary Communications Dept

Calgary House Average Price Increase.

The average price of a single family
Calgary metro home in March 2009
was $420,354, showing an increase
of just over 1 percent from February
2009, when the average price was
$415,568 and showing a decrease
of 11 percent from March 2008
when the average price was
$474,513. The average price of a
Calgary metro condominium was
$284,056, showing a 6 % increase
from February 2009 when the average
price was $268,971 and showing
a decrease of 9 % over last year,
when the average price was
$312,620.
Single family Calgary metro new listings
added for the month of March
totaled 2,023, down just 2 % from the
2,057 new listings added in February
2009. Calgary metro condominium
new listings added in March 2009
were 903 up 1 % from February 2009
when the MLS® saw 892 condo listings
coming to the market. Although
new listings for both single family and
condominiums are down significantly
from March 2008 totals, there continues
to be a good selection available.
This coupled with low interest rates
and increasing consumer confidence
generated the highest MLS® sales
totals since Sept 2008.

Calgary Real Estate Market

MLS® sales activity of single family
Calgary metro homes was 1,086 in
the month of March 2009 showing
an increase of 32 % from 825 sales
in February 2009, according to figures
released by the Calgary Real
Estate Board (CREB®). This was a
decrease of 23 % from March 2008
when single family home sales were
1,418. The number of condominium
sales for the month of March 2009
was 446, an increase of 30 % from
the 343 condominium transactions
recorded in February 2009 and a
decrease of 21 % from March 2008
when 565 condominiums changed
hands.

Douglasdale and Douglasdale Estates Real Estate Calgary

Douglasdale Estates and Douglasdale Ridge are located in Calgary’s southeast. Both areas encompasse the land along the east side of the Bow River between Deerfoot Trail and the community of McKenzie. The Douglasdale Estate community was designed to make use of many of the area’s natural topographic features, including the Bow River escarpment. This has allowed for spectacular views of the river valley and the Rocky Mountains. Area residents enjoy recreational opportunities in nearby Fish Creek Provincial Park, as well as at the local golf course. There is also a lot of green space throughout Douglasdale. A separate school is located in the area

Although the Douglasdale community association currently lacks a community centre, it remains active within the community. It facilitates local sports programs, the most popular of which is soccer. There is also a local traffic committee to help study plans for the Glenmore Trail and Deerfoot Trail. Douglasdale also offers a teen program at Monsignor Smith School, where area teens can meet weekly for games of pick up basketball.

For more information on SE Calgary homes and communities, please click on the link to right and view out South East Calgary Neighborhood pages, or call your top producing CIR Realtor Neil Rowlandson.

Cranston Real Estate Calgary

Naturally Spectacular – Cranston is undoubtedly one of the most naturally beautiful communities in Calgary. Wide open spaces, spectacular mountain views and a lush river valley teeming with life. Since its launch in 1999, Cranston has welcomed more than 2,000 residents into a variety of spectacular homes, and the community continues to grow. A remarkable future phase of development includes a neighborhood of estate properties along the beautiful Bow River.

For more information on SE Calgary homes and communities, please click on the link to right and view out South East Calgary Neighborhood pages, or call your top producing CIR Realtor Neil Rowlandson.

Copperfield Calgary Real Estate

In Calgary’s vibrant southeast, Copperfield is close to movie theatres, pubs, grocery stores, shopping malls, schools, and other urban amenities, with many conveniences available at the nearby High Street.

Connecting to downtown and the rest of the city is easy. Nearby Deerfoot Trail takes you where you need to go in a hurry. Macleod Trail is populated with shops, and the LRT’s future expansion will one day take it right to Copperfield’s door. For outdoor pursuits, Copperfield is perfectly positioned for exploring Fish Creek Park, hitting the bike paths or golf courses, or quickly escaping to the great wide open? Kananaskis Country and Bragg Creek.

For more information on SE Calgary homes and communities, please click on the link to right and view out South East Calgary Neighborhood pages, or call your top producing CIR Realtor Neil Rowlandson.

 

 

 

Connaught Calgary Real Estate

Connaught Calgary Real Estate

As far back in the history of Calgary as 1893, the city limits included the Connaught (Beltline) district which encompassed the larger estates of prominent citizens, such as Senator James Lougheed. By 1912, development had extended south to 17th Avenue and west to 14th Street with two and three-storey homes, wide streets, treed boulevards and large open spaces. Many of Calgary’s “first” fine institutions – e.g., The Carnegie Library, public elementary, junior and senior high schools, Central Collegiate Institute (now Dr. Carl Safran School), Grace Presbyterian and First Baptist Churches were located here. Through the years the character of the area has changed dramatically and many medium and high density commercial/office buildings have developed along the major thoroughfares within the area. Within easy waling distance to downtown, Connaught today provides an alternative lifestyle with medium/high density apartments and condominiums. The community boasts specialty shopping, boutiques, cafes, restaurants and entertainment facilities located along 17 Avenue S.W., known as “Uptown 17.”

 

Connaught Community Property Stats at a glance

Stats for the Connaught Condos and townhomes in the Third Quarter of 2008

- 68 Connaught condos and townhomes sold with an average price of $316,759 and a median sale price of $272,000.

-Average Active Days on Market (DOM) for the 68 sales was 51 days. 

Cedarbrae Calgary Real Estate

Cedarbrae is located in Calgary’s southwest. Although it was annexed by the city in 1956, it did not develop as a community until 1973. Residents of Cedarbrae have an excellent opportunity to engage in recreational activities, as Cedarbrae is in close proximity to both Fish Creek Park and Glenmore Park. Indoor recreation can be accessed at the nearby Southland Leisure Center. The community also contains numerous sports fields, playgrounds and pathways. There are both public and separate schools in Cedarbrae.

Cedarbrae is home to a very active community association. Numerous groups and activities, including Boy Scouts, Girl Guides, karate, the Sword Academy, yoga, Moms & Tots and Jelly Bean Dances take place within the recreation center. The community is also known for its sports programs, notably soccer and football, which are played on the community field. The community association also hosts numerous other activities such as a craft fair in November, the Stampede Hoedown in July and the New Year’s Eve Wingding. These activities enable the resident’s of Cedarbrae to maintain a strong sense of community.

 

 

For more information on SW Calgary homes and communities, please click on the link to right and view out South West Calgary Neighborhood pages, or call your top producing CIR Realtor Neil

Canyon Meadows Real Estate Calgary

Canyon Meadows is located in Calgary’s southwest, directly north of Fish Creek Park. It is bounded by Anderson Road to the north, MacLeod Trail to the East and 14th St. to the West. Canyon Meadows got its name due to its location on a rolling plane above the Fish Creek Park bluffs. The area was annexed to Calgary in 1961 and two years later development began to occur. Residents of Canyon Meadows have numerous recreational opportunities available to them, including the Canyon Meadows Gold and Country Club, the Canyon Meadows Pool and Fitness Center, and Fish Creek Provincial Park. The area is also well connected to Calgary’s pathway system and has numerous commercial centers. There are a number of separate and public schools in the area, including Dr. E. P. Scarlett High School.

The Canyon Meadows community centre is home to many different programs, including Tai Chi, Yoga, Jazzercise, Kumon math, dance classes, dog training, Brownies, Girl Guides, Moms and Tots, and Seniors Bridge. The community centre also houses two skating rinks, one of which is paved to allow for inline skating and ball hockey in the summer. There are also basketball nets, a skateboard ramp benches and playing fields. Canyon Meadows has also been a powerful advocate regarding community issues ranging from development, to Fish Creek Park wildlife protection, to traffic, to LRT extension, to the Anderson Road overpass. A fire in the Canyon Meadows community centre led to the need for current renovations

 

For more information on SW Calgary homes and communities, please click on the link to right and view out South West Calgary Neighborhood pages, or call your top producing CIR Realtor Neil Rowlandson.