building a new house in calgary

[albertaTDI]

Re: building a new house in calgary

Try Airdrie, we love it out here, and i know the sagewood phase 4 just opened so you might be able to get a lot. another question too: when building a new house generaly how much is the deposit for them to get started?

[Volinder D]

Re: building a new house in calgary

There are apparently 10 lots available in Tuscany. However min. price on the house is approx. $485 K

[forreal]

Re: building a new house in calgary

airdrie has good market there for houses? as hot as calgary??

[forreal]

Re: building a new house in calgary

Try Airdrie, we love it out here, and i know the sagewood phase 4 just opened so you might be able to get a lot. another question too: when building a new house generaly how much is the deposit for them to get started?

for most new homes u need about 5% down. but for some of the higher end homes they require about 15% or even 20%

[liquid]

Re: building a new house in calgary

In a perfect world 25% down would allow you to skip out on CMHC.

[R_Ethug]

Re: building a new house in calgary

thats for first timers only tho isn't it??

[Billip]

Re: building a new house in calgary

thats for first timers only tho isn't it??

No, I believe you can do CMHC at anytime as long as you and the place your buying qualify.

[Canadian Turbo]

Re: building a new house in calgary

CMHC is for all new properties, not just first time buyers. So if you are under 25% you have to pay them a premium. However sometimes the builder may only require 10% at time of purchase and the remaining 15% is due on the closing date.

[S-lineA4]

Re: building a new house in calgary

No, I think CMHC is for ANY "unconventional mortgage" (ie under 25% down). It's basically considered default insurance to insure the morgage companies against people defaulting or walking away from their mortgage. It is reduced slightly for every 5% that you do put down though if memory serves.
There is a First Time Home Buyers Plan through the government which allows you to "borrow" any money you might have in your RRSP to use as a deposit on a first home though - that probably does make sense (save on CMHC, etc) if you have money in an RRSP in the first place.

[Lars]

Re: building a new house in calgary

I am down in Cranston and it is good location cause there is a lot of stuff at 130th ave little ways from downtown but not hard to get to and way easy to get around in the south end Look in Auburn Bay also

[James]

Re: building a new house in calgary

I am down in Cranston and it is good location cause there is a lot of stuff at 130th ave little ways from downtown but not hard to get to and way easy to get around in the south end Look in Auburn Bay also

Cranston...is FAR from downtown (im in chaparral, which is about the same distance...still takes me ~40 to drive in every morning)

Although I find the one side of cranston (right @ windmill, specifically cranston ridge) is a really nice spot. Wicked houses.

and as far as I know you can still build in copperfield/new brighton or evergreen...or a coulpe other places in the deep south

[gaffer]

Re: building a new house in calgary

and as far as I know you can still build in copperfield/new brighton or evergreen...or a coulpe other places in the deep south

Copperfield is full at the moment, we are #45 on one builders list to look at a lot. There are some new phases opening soon hopefully, but it sounds like the lots are spoken for.

I have noticed New Brighton has a new phase opening soon, as I can see they are putting in all the services etc, but I am not sure if & when there will be lots there.

Hopewell is also opening a new community called Mahogany next to Auburn Bay, but I am not sure when that will come on line.

It is really tight out there.

Andrew

[albertaTDI]

Re: building a new house in calgary

Airdrie is super hot right now, I would say it is as good as calgary market. but all depends on where you work, and if are a farm boy like me and wanted to get out of the city. I work by peter lauheed hospital and in to work in 20-25 min

[Lars]

Re: building a new house in calgary

Cranston...is FAR from downtown (im in chaparral, which is about the same distance...still takes me ~40 to drive in every morning)

Although I find the one side of cranston (right @ windmill, specifically cranston ridge) is a really nice spot. Wicked houses.

and as far as I know you can still build in copperfield/new brighton or evergreen...or a coulpe other places in the deep south

I was to downtown in 25 mins yesterday and up to SAIT in 35 mins at 7 am going through downtown. Do you go up Blackfoot and cross over to Macload by the stampede grounds? it is a lot faster (no lights)

[Smarty39]

Re: building a new house in calgary

I was also going to comment on the drive from Cranston to downtown....The only time it takes me more than 30 minutes to get downtown is if I leave after 7:45. I usually take off about 7:05 or so, and I get to the Stampede LRT by 7:30...unless there is an accident of course. IMO, Cranston is closer to downtown than Panorama Hills (where I used to live) and most northern locations mainly because of traffic congestion when travelling south....going north isn't nearly as bad