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Unlocking the Costs: What Buyers Need to Consider Before Purchasing in Calgary, Alberta

Purchasing a home, townhouse, condo, or apartment is an exciting adventure, but it comes with its share of financial responsibilities. In Calgary, Alberta, understanding the various fees and costs associated with real estate transactions is crucial for a smooth buying process. Let's dive into the essential fees every buyer should consider.

1. Purchase Price
The most obvious cost is the purchase price of the property itself. This cost varies significantly based on the type, location, size, and condition of the property you choose.

2. Down Payment
Buyers are typically required to provide a down payment, which is a percentage of the property's purchase price. The minimum down payment can vary, but it's usually between 5% and 20% of the property's value. The larger your down payment, the lower your mortgage amount will be.

3. Mortgage Costs
If you're financing your purchase with a mortgage, there are associated costs, including mortgage application fees and appraisal fees. If your down payment is less than 20% of the property's value, you may also need to consider mortgage insurance.

4. Legal Fees
To handle the legal aspects of the purchase, you'll need a real estate lawyer or notary. Legal fees cover services like title searches, contract reviews, and property transfer.

5. Home Inspection
It's highly advisable to get a professional home inspection. While this is optional, it can help you identify any issues with the property before finalizing the deal. Home inspection costs vary but are an important investment in ensuring you're making an informed purchase.

6. Property Transfer Tax
Alberta doesn't have a provincial property transfer tax, but there may be a municipal property transfer tax, depending on the specific area. Be sure to check with your local authorities to see if this applies.

7. Real Estate Agent's Commission
Typically, the seller pays the real estate agent's commission. However, it's important to clarify this with your real estate agent, as there may be exceptions or additional costs.

8. Home Insurance
Buyers need to secure homeowners' insurance for their new property. Insurance costs can vary based on the property's location and the coverage selected.

9. Moving Costs
Don't forget to budget for the expenses associated with moving your belongings to your new home. This can include hiring a moving company, renting a truck, or other associated moving costs.

10. Utilities and Property Taxes
You'll be responsible for any outstanding property taxes and utility bills from the date of possession. This cost will depend on the time of year and the specific property's situation.

11. Condo or Homeowner Association Fees
If you're purchasing a condo or townhouse, you may be subject to monthly condo or homeowner association fees. These fees cover shared maintenance and amenities in the community.

12. Adjustments
These could include reimbursements to the seller for prepaid property taxes, condo fees, or utilities.

13. Home Renovations and Repairs
Depending on the property's condition, you might incur additional costs for renovations or repairs to make it more suitable for your needs and preferences.

It's essential to work closely with your real estate agent and a financial advisor to get a clear understanding of all the costs associated with your specific home purchase. Keep in mind that costs can vary, so budget accordingly to ensure a successful and well-informed buying process. Calgary, Alberta, is a fantastic place to find your dream home, and understanding the associated fees will help you make a sound financial decision.

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I have sold a property at 2713 4 AVENUE NW in Calgary

I have sold a property at 2713 4 AVENUE NW in Calgary on Oct 4, 2023. See details here

2713 4 Avenue NW | Prime 50’ x 120’ R-C2 Lot | Location! Highly Desirable West Hillhurst | Gorgeous Property Situated On A Quiet Tree-Lined Street | Steps Away To The Beautiful Bow River Pathways | Close To All Amenities | Fantastic Development Opportunity! | No Inside Pictures As Tenant Occupied.

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I have sold a property at 6 448 Strathcona DRIVE SW in Calgary

I have sold a property at 6 448 Strathcona DRIVE SW in Calgary on Aug 4, 2023. See details here

Welcome to 6448 Strathcona Dr SW, a gorgeous, fully renovated townhouse that has undergone an exquisite transformation, revitalizing every aspect from the studs up. Prepare to be captivated by the remarkable property's stunning city views and its charming French Country style. As you step inside, the two levels of beautiful hardwood flooring immediately catch your eye, lending an air of elegance to the home. The main level offers a sunken family room, a welcoming retreat adorned with a gas fireplace that infuses warmth and ambiance. From here, the family room seamlessly leads you to the magnificent west-facing patio, where you can host summer barbecues or indulge in the serenity of the private, secluded setting with its flourishing flower beds—an idyllic outdoor oasis perfect for relaxation and creating cherished memories with loved ones. The main floor also features a formal living room, complete with a cozy wood-burning fireplace that sets the perfect mood for cozy evenings. A formal dining room awaits, providing an elegant space for hosting dinner parties and fostering lasting memories. However, the true highlight of this home lies in its fully loaded kitchen. Adorned with quartz countertops and equipped with a full complement of appliances, this culinary haven fulfills every chef's dream. As you ascend to the upper level, you'll discover the primary suite, complete with an ensuite bathroom, along with two additional bedrooms, and a full bathroom —a layout designed to ensure comfort and convenience for all residents. The basement has been thoughtfully developed with permits from the City of Calgary, offering additional living space and versatility. It includes a well-appointed bathroom and laundry with adjoining storage cabinets, further enhancing the home's functionality and adaptability to your needs. Furthermore, this remarkable property boasts a double attached garage, meticulously finished with spray foam insulation, drywall, and paint, creating a functional and aesthetically pleasing space for your vehicles and storage requirements. Immerse yourself in the exceptional lifestyle that this home offers. Situated in the tranquil enclave of Strathcona Park, you can enjoy a serene setting while still being within reach of all the amenities you desire including a quick drive to the mountains. This property is a testament to pride of ownership, evident in the meticulous renovations and care it has received. It stands ready for its next fortunate owner to revel in its grandeur, creating their own cherished memories. Don't miss out on this extraordinary opportunity to turn this dream home into a reality.

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I have sold a property at 8 Autumn VIEW SE in Calgary

I have sold a property at 8 Autumn VIEW SE in Calgary on Jul 11, 2023. See details here

LOCATION, LOCATION, LOCATION! This incredibly charming home is conveniently located within walking distance to 2 elementary schools (St. Gianna & Auburn Bay), walking paths, playgrounds, beach club, South Health Campus, future green line C-Train station, and all of life’s amenities located within Auburn Bay and Seton. You’ll be instantly impressed by the charming front porch entryway that overlooks one of Auburn Bay’s nature reserve ponds. Once inside, you’ll fall in love with the open floor plan highlighted by a three way fireplace that defines the main living spaces. The spacious living room flows seamlessly into the sun soaked kitchen and dining area that leads out onto the private south facing backyard where you’ll enjoy an expansive deck and oversize detached garage. Brand new carpet leads you upstairs where you’ll find a generous primary bedroom equipped with a recently updated ensuite bathroom and walk-in closet. 2 additional bedrooms and a shared bathroom complete the upper level. Additional highlights include: freshly painted, brand new fridge, new deck railing, 220 amp service in the garage, and a paved back lane. **VIEW THE 3D VIRTUAL OPEN HOUSE TOUR FOR A BETTER LOOK*

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I have sold a property at 450 18 AVENUE NE in Calgary

I have sold a property at 450 18 AVENUE NE in Calgary on Jul 7, 2023. See details here

Live in luxury in this gorgeous inner-city semi-detached home! Offering 4 Bedrooms, 4 Bathrooms and 3,000 sq ft of finished living across the 4 levels. With its unique floorplan the main level is perfect for entertaining. Off the foyer is the dining room with park and city views that has been beautifully finished with coffered ceilings and wainscotting. Open to the Livingroom with garden doors and cozy gas burning fireplace, the gourmet kitchen is any chef’s dream! The large marble counter topped island with breakfast bar pairs perfectly with the stainless-steel appliances, gas range and incredible amount of cabinets and storage! The mudroom with built-in storage and bench, a walk-in pantry and 2 pc bath finish this level. 2 nice sized bedrooms and a 4-pc bath are on the 2nd level. Down the hall is the large primary suite complete with a 4-pc bath with walk-in shower, 2 vanities and soaker tub, an 11' walk-thru closet featuring custom mid century finished cabinetry, a water closet and laundry room with access from the closet or hallway. The 3rd level provides a unique area for a home office or family room with west facing window and skylight. Recessed lighting, built-ins, central air conditioning and high ceilings can be found throughout this home. The 9 ft ceilings extend to the basement living areas. A large 4th bedroom with walk-in closet, an additional 4 pc bathroom, storage room and rec room complete this level. Enjoy this backyard escape with large sunny deck perfect for grilling, mature tree, backyard fireplace and landscaped garden with custom built planters and bench. The detached double garage ensures you won't need to fight for parking! Across from Monroe Park with walking path and workout stations. Steps to Mountain View School (K-12). Walking distance to Calgary Co-op, Safeway and bike paths. Enjoy the restaurants and amenities of 16th Ave NW, Centre St & Edmonton Trail! Steps to transit with a quick ride to Lions Park C-Train making for easy access to SAIT, AU Arts, The University of Calgary, Foothills Medical Centre and Mount Royal University.

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I have sold a property at 14 3114 Edenwold HEIGHTS NW in Calgary

I have sold a property at 14 3114 Edenwold HEIGHTS NW in Calgary on Jun 20, 2023. See details here

Just Listed! Fantastic Condo Living at 3114 Edenwold Heights Northwest! Welcome to this beautifully renovated one-bedroom condo in a well-maintained 3-story low rise building. Located in a prime location, this property offers convenience, comfort, and a host of incredible amenities for a vibrant lifestyle. Step inside and be greeted by the open concept kitchen featuring a breakfast bar, perfect for entertaining guests. The kitchen seamlessly flows into the spacious living and dining room area, creating an inviting space to relax and unwind. The large primary bedroom boasts ample space and comes with a massive closet, ensuring all your storage needs are met. The unit also features a modern 4-piece bathroom, adding to the convenience and functionality of this home. But the perks don't stop there! As an owner, you'll enjoy access to the impressive complex amenities, including a fully-equipped gym membership with a swimming pool, hot tub, and training center. For some friendly competition or leisurely fun, there are pool tables and ping-pong tables available within the building. Convenience is at your doorstep with Friends coffee shop just across the street, offering the perfect spot to grab your morning brew. Nature enthusiasts will love the proximity to Nose Hill, providing a scenic retreat just steps away. Commute effortlessly with easy access to Shaganappi, ensuring quick routes to downtown and the airport. Plus, you'll have the convenience of one assigned parking stall, making life a breeze. Looking to bring a furry friend along? No worries! This pet-friendly complex allows both dogs and cats, subject to the board's approval, with no size restrictions. Don't miss out on this amazing opportunity to live in a renovated condo with incredible amenities and a prime location.

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