Should You Buy a House in Calgary in 2022? Let's explore whether or not you should buy a house in Calgary in 2022!
Calgary is one of the top relocation destinations in Canada right now, so the question is... is it a smart choice to buy a house in Calgary in 2022?
Firstly the growth in Calgary is absolutely insane. A lot of the growth is happening due to migration and this is driving the prices up. This major push to Calgary from some of the larger cities like Vancouver and Toronto is also creating a rapid increase in demand, so along with some increasing house prices, we're also seeing an increase in new construction, which is great for the incoming homebuyer!
That being said, inventory is limited because of the increased demand, so if you're going to go for it in Calgary, you need to act fast to get a lot or a home that is nearing completion.
The interest rates are also going up, and the values of homes here in Calgary are only going to increase. If you wait for too long in this market, you'll likely be priced out of the market or be forced to buy something smaller than your money can buy you now.
So to conclude, yes - you should definitely purchase now if you're moving to Calgary, or make a plan to become ready to buy in the next year. Calgary is in high demand, so now is the time to get in so you can enjoy increased home equity and get into a home with a good interest rate.
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