The 2025 First-Time Home Buyer’s Guide to Calgary

Tim Lacroix • March 30, 2025

Buying your first home is an exciting milestone — and in a vibrant city like Calgary, it’s also a smart investment in your future. Whether you’re relocating, starting a family, or simply ready to build equity instead of paying rent, Calgary offers diverse housing options, competitive mortgage rates, and strong long-term value. This 2025 First-Time Home Buyer’s Guide to Calgary is designed to walk you through everything you need to know to confidently navigate the homebuying journey.

Why Calgary is a Top Choice for First-Time Home buyers

Calgary combines affordability with opportunity. While real estate prices have risen across Canada, Calgary remains one of the more accessible major cities, especially for first-time buyers. The city’s strong economy, vibrant communities, and proximity to the Rockies make it a great place to live and invest.

In 2025, Calgary’s market remains steady, with modest growth in home prices and low inventory in many desirable neighborhoods. That means competition can be strong — but with the right strategy, first-time buyers can secure great deals.

Step 1: Determine Your Budget

Before browsing listings or attending open houses, you need to understand what you can afford. Here’s how to approach it:

Calculate your debt-to-income ratio: Most lenders prefer this to be under 39%.
Assess your down payment: In Canada, the minimum down payment is 5% for homes under $500,000.
Plan for additional costs: Closing costs, legal fees, inspection fees, property taxes, insurance, and moving costs can add 1.5–4% of the home’s price.

Pro Tip: Use a mortgage calculator to get an estimate of your monthly payments based on the current interest rates in Calgary. You can also consult with the Tim Lacroix Mortgage Team to get pre-approved — a smart move before house hunting.

Step 2: Get Pre-Approved for a Mortgage

Pre-approval gives you a clear idea of your buying power and makes you more attractive to sellers. A mortgage specialist will review your income, debts, credit history, and employment to determine how much a lender is willing to loan you.

Benefits of pre-approval:

Locks in an interest rate (usually for 90–120 days)
Helps you budget with confidence
Shows sellers you're a serious buyer

The Tim Lacroix Mortgage Team can help you find the best rates and terms from multiple lenders — not just the bank you already use.

Step 3: Understand Your Mortgage Options

Calgary first-time buyers have several mortgage options to consider:

Fixed-rate mortgages: Consistent payments over the term (e.g., 5 years).
Variable-rate mortgages: Fluctuate with the Bank of Canada’s rate changes — might offer lower initial rates.
Insured mortgages: Required if your down payment is under 20%.
Cashback or incentive mortgages: Some lenders offer cashback on closing.

Your choice depends on your risk tolerance, financial goals, and how long you plan to stay in your new home.

Step 4: Explore First-Time Buyer Incentives in 2025

Government programs can significantly reduce your upfront costs. In 2025, first-time home buyers in Calgary can benefit from:

First-Time Home Buyer Incentive: Shared equity program with the federal government (revised in 2025 to include homes up to $650,000 in Calgary).
Home Buyers’ Plan (HBP): Withdraw up to $60,000 from RRSPs tax-free (repay over 15 years).
GST/HST New Housing Rebate: Applies to new builds or substantial renovations.
Land Transfer Tax Rebates: Alberta does not charge a land transfer tax, which is a huge advantage over other provinces.

Step 5: Work With a Real Estate Agent You Trust

An experienced agent can help you:

Identify neighborhoods within your budget
Find homes that meet your needs
Negotiate on your behalf
Guide you through the offer process

Make sure you partner with someone who is responsive, knowledgeable about Calgary’s housing market, and well-versed in working with first-time buyers.

Step 6: Choose the Right Neighborhood

Calgary’s neighborhoods offer a wide variety of options for different lifestyles. Here are a few top picks for first-time buyers in 2025:

Airdrie & Chestermere: Great for families, more space, and newer homes.
Skyview Ranch or Evanston (North Calgary): Affordability, community feel, and access to amenities.
Seton or Mahogany (Southeast): Newer developments with schools, parks, and modern designs.
Inner-city areas like Killarney or Bridgeland: Closer to downtown with character homes and vibrant energy (but higher prices).

Think about your commute, nearby schools, public transit, and lifestyle when choosing where to buy.

Step 7: Make an Offer and Conduct Inspections

Once you find a property you love, your real estate agent will help you:

Make an offer
Negotiate price and conditions
Schedule a home inspection
Finalize your mortgage approval

Don’t skip the home inspection — it protects you from future surprises and helps you make an informed decision.

Step 8: Close the Deal and Move In

Once your offer is accepted, you’ll:

Sign your mortgage agreement
Hire a lawyer to complete the transaction
Transfer the down payment and closing costs
Receive the keys!

Congratulations — you’re a homeowner in Calgary!

Bonus Tips for First-Time Buyers

Start saving early. Even small down payments require planning.
Avoid big purchases during the pre-approval and homebuying process.
Ask lots of questions — no question is too small when buying your first home.
Take advantage of mortgage brokers. The Tim Lacroix Mortgage Team shops rates for you and gives you honest advice.
Plan for homeownership costs. Budget for maintenance, property taxes, and insurance.

Final Thoughts: You’re Not Alone — We’re Here to Help

Buying your first home in Calgary in 2025 is a smart move. The market is healthy, the programs are generous, and you have support every step of the way. From choosing the right mortgage to understanding the fine print, the Tim Lacroix Mortgage Team is here to guide you through it all.

If you’re ready to start your homeownership journey, let’s chat. We’ll help you pre-qualify, explain your options, and connect you with the right people to make the process smooth and stress-free.

👉 Ready to take the first step? Book a Discovery Call Today

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