the real estate blog

Buying a home is one of the biggest financial milestones you'll ever reach. While most buyers focus on saving for a down payment, there are several additional expenses that can catch people by surprise. Understanding these costs ahead of time will help you budget confidently and make your home-buying experience much less stressful.

If you're planning to purchase a home in Calgary this year, here are some of the hidden costs you should be prepared for.

1. Home Inspection

Although a home inspection isn't always mandatory, it's one of the smartest investments you can make. A qualified home inspector can identify potential issues with the property's structure, roof, electrical system, plumbing, or foundation before you finalize your purchase.

Spending a few hundred dollars on an inspection could save you thousands in unexpected repairs down the road.

2. Legal Fees and Closing Costs

Every real estate transaction requires a real estate lawyer to handle the legal transfer of ownership. In addition to legal fees, you'll also pay for land title registration and other administrative costs associated with closing your purchase.

It's important to include these expenses in your budget so there are no surprises on possession day.

3. Property Tax Adjustments

Depending on when you take possession of your new home, you may need to reimburse the seller for property taxes they've already paid for the remainder of the year.

This adjustment is calculated during the closing process and is a common cost that many first-time buyers don't anticipate.

4. Home Insurance

Mortgage lenders require buyers to have home insurance in place before the transaction closes. The cost will vary depending on the home's location, size, age, and coverage you choose.

Shopping around for quotes before closing can help you find the best value while ensuring your new investment is protected.

5. Utility Set-Up Fees

Once you move in, you'll need to set up utilities such as electricity, natural gas, water, internet, and television services. Some providers charge activation or connection fees, and you may also need to provide deposits depending on your account history.

These smaller expenses can add up quickly during moving week.

6. Moving Expenses

Whether you're hiring professional movers or renting a truck, moving costs are often higher than expected. Be sure to budget for:

• Professional movers or truck rental

• Packing supplies

• Storage, if needed

• Cleaning supplies

• Meals and incidental expenses during your move

Planning ahead can make moving day much smoother.

7. Immediate Home Improvements

Even if you purchase a move-in-ready home, you'll likely want to make it your own. Many buyers choose to repaint walls, replace light fixtures, install window coverings, or upgrade appliances shortly after moving in.

Creating a separate budget for these projects will help you avoid stretching your finances too thin after closing.

8. Ongoing Maintenance

Owning a home comes with ongoing responsibilities that renters don't typically have. Seasonal maintenance is especially important in Calgary's climate and can include:

• Furnace servicing

• Air conditioning maintenance

• Gutter cleaning

• Roof inspections

• Lawn care and snow removal

• Replacing furnace filters

• Minor plumbing or electrical repairs

A good rule of thumb is to set aside money each year for routine maintenance and unexpected repairs.

9. Emergency Fund

No matter how carefully you plan, unexpected repairs can happen. Whether it's replacing a hot water tank, repairing a furnace during winter, or fixing a leaking roof, having an emergency fund provides peace of mind and helps protect your investment.

Plan Ahead for a Stress-Free Purchase

Buying a home is an exciting journey, and understanding the full picture of homeownership allows you to make informed financial decisions. By budgeting for these additional expenses alongside your down payment and mortgage, you'll be well prepared for a smooth transition into your new home.

If you're thinking about buying a home in Calgary, I'd be happy to help you understand every step of the process—from creating a realistic budget to finding the right home for your lifestyle and goals. My goal is to ensure there are no surprises, so you can enjoy the excitement of becoming a homeowner with confidence.

Ready to start your home search? Let's connect and create a plan that works for you.

Author: Stuart Bartwicki, REALTOR® — CIR Realty

If you've been paying attention to the Calgary market lately, you've probably noticed things feel a little different than they did a year or two ago. And you're right — they are. But different doesn't have to mean confusing. Let me break down what's actually happening, what it means for you, and how to navigate it with confidence.

Let's dig in.

Inventory Is Up — But That's Normal for Spring

Calgary had roughly 7,000 active listings in May. That's about the same as last year, but sitting above the long-term average. And here's the thing — inventory always rises through the spring market, so a lot of this is just the natural seasonal rhythm playing out.

What's interesting is where the inventory is coming from. The increase is mostly in apartments and townhomes. Detached homes? Still relatively tight. So if you're shopping for a single-family home, you're still dealing with a more competitive landscape than the headline numbers might suggest.

Sales Have Cooled — But Context Matters

We saw just over 2,000 homes sell across Calgary in May. That's down about 16% from the same time last year. Now, that sounds like a big drop — and it is — but we're comparing against some of the strongest sales activity this city has ever seen. We've been on quite a run the past few years, so a pullback was always going to feel noticeable.

New listings have also declined, but they haven't fallen enough to make up for the slower sales pace. The net result? More choice for buyers and a market that's tipping toward balance — which, honestly, is healthier for everyone in the long run.

It Depends on What You're Buying

This is where the headline numbers can be a bit misleading. Market conditions vary a lot by property type right now.

Detached homes are sitting at about 2.5 months of supply. That's what I'd call a balanced market — not quite the seller's advantage we've seen in recent years, but still reasonably tight. Well-priced, well-presented detached homes are still selling.

Apartment-style condos are a different story. With over 5 months of supply, we're in clear buyer's market territory. There's simply more inventory, more competition from new construction, and more rental options for people who aren't ready to commit to buying. If you're selling a condo right now, you need to be realistic about pricing and prepared for a longer timeline.

What's Driving Buyer Caution?

There are a few forces at play here:

• Affordability. Let's be honest — it's harder to buy today than it was a few years ago. Prices have climbed, and the cost of borrowing is still elevated compared to the ultra-low rate era.

• Migration is slowing. We saw huge inflows of people from other provinces during and after the pandemic. That's cooled off, and with it, some of the demand pressure that was driving the market.

• More options. Buyers have more homes to choose from, more new builds to consider, and more rental supply to fall back on. That kind of choice naturally slows the urgency to pull the trigger.

None of this is panic territory. It's just a more measured, thoughtful market — and that rewards the buyer (and seller) who comes in prepared.

Let's Talk Prices

Calgary's overall benchmark price hit $570,000 in May. That's up from where we started the year, but still about 3% lower than May 2025.

When you break it down by type:

• Detached homes have shown the strongest price performance. Benchmark went from $724,000 in January to $747,000 in May. That's real resilience.

• Apartment-style condos are feeling the most pressure. Prices are sitting roughly 9% below where they were this time last year.

The gap between detached and condo performance is the big story right now. If you own a detached home, you're in a relatively strong position. If you own a condo — especially if you're thinking about selling — understanding current market value is critical.

The Bottom Line

Calgary has shifted into a more balanced market. That's the one-sentence summary.

• Sellers: Well-priced, well-presented homes are still selling. But particularly if you own a condo, expect more competition and longer timelines than we've seen in the past four years.

• Buyers: You have more choice and less pressure. That doesn't mean you should wait forever — the right home at the right price still moves — but you have room to be thoughtful.

• Everyone: Preparation and realistic expectations win in a market like this. That's true whether you're buying, selling, or just figuring out your next move.

Remember — these are broad strokes. Market conditions vary from neighbourhood to neighbourhood and property to property. If you want information that's specific to your home or your community, I'd love to help. Reach out anytime.

— Stuart

Stuart Bartwicki, REALTOR® — CIR Realty. I've been helping Calgary families navigate real estate since 2018. Former teacher, lifelong learner, and believer that the best results come from sharing real knowledge, openly and generously.