Calgary Buyers Guide

Step 1: Get Pre-Approved For Your Mortgage

Shopping without a pre-approval is guessing. You need to know your numbers before you start.

A pre-approval tells you what you can afford, helps you act quickly, and puts you in a stronger position—especially in competitive situations.

You have two options:

Your bank: one set of products, limited flexibility
Mortgage broker: access to multiple lenders, more options, often better terms

We typically recommend working with a mortgage broker. They compare rates across 20+ lenders, including major banks, and structure financing based on your situation.

They’ll review your credit, income, and the type of property you’re buying (home vs condo matters), then determine your max purchase price—and more importantly, what’s comfortable for your lifestyle.

Pre-approvals are usually valid for 90–120 days, and the process is free. It’s the smartest first step before you start looking at homes.

Know All The Costs of Buying

Many buyers focus on the down payment—but that’s not the full cost of buying a home.

There are additional expenses that catch people off guard if they’re not prepared.

Beyond your down payment, expect:

Legal fees: ~$1,000–$1,500
GST: applies to new construction purchases
Appraisal: ~$200–$500 (sometimes covered by your lender)
Home inspection: ~$300–$750

These costs add up quickly, so plan for them early.

Step 2: Create Your Wish List

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This step is simple—but important.

Before you start searching, create three lists:

Must-haves – non-negotiables
Nice-to-haves – bonuses if you can get them
Deal-breakers – what you won’t accept

Share this with your agent so they can filter opportunities properly—and flag homes before they hit the market.

Also consider:

Transit access
Parking
Nearby amenities
Urban vs. suburban lifestyle
Monthly carrying costs
Interior finishes

The clearer your criteria, the faster you find the right home.

Step 3: Picking a Talented and Winning Real Estate Team

Buying a home is a major financial decision—you don’t want to do it alone.

The right team makes the process smoother, protects your interests, and helps you avoid costly mistakes.

At a minimum, you need:

A strong real estate team
A real estate lawyer experienced in residential transactions
A mortgage broker who understands the local market and your financial goals

Depending on the property, you may also need inspectors, contractors, or other trades.

We connect our clients with vetted professionals we trust—people who consistently deliver and know how to get deals done properly.

Choosing A Real Estate Agent in Calgary

Work with someone who knows the Calgary market and buying process inside and out. This isn’t the time to “help out” a part-time agent—experience matters, and as a buyer, it doesn’t cost you anything to choose the right one.

There are thousands of licensed REALTORS® in Calgary, but many only complete a handful of deals each year. More experience means better advice, stronger negotiation, and fewer mistakes.

Look for an agent who consistently handles high volume and understands how to navigate different market conditions.

Questions to Ask:

How many transactions did you complete last year?
Do you work full-time in real estate?
What’s your strength as a buyer’s agent?
Do you work solo or on a team?
Why are you the right fit for me?

Why a Team Matters

A team gives you more than one perspective. You get access to experienced agents, leadership support, and systems that keep everything on track.

From finding off-market opportunities to managing details after your offer is accepted, a strong team makes the process smoother—and gives you a clear advantage when it counts.

Step 4: The House Hunting Process

You’ve got options when it comes to searching for homes—but not all platforms are equal.

Public websites are great for browsing, but they’re delayed. If you’re serious, you need real-time listings sent directly from your agent through the MLS.

That’s how you see new homes the moment they hit the market—not hours later when everyone else finds them.

In competitive situations, that timing matters. The buyers who see it first are often the ones writing the offer first.

Step 5: Viewing Homes For Sale With Your Agent

When the right home hits the market, timing matters. Be ready to move quickly—well-priced homes don’t sit.

When you start working with your agent, clarify:

Best way to reach you (text, call, email)
Your availability for showings
Target areas and home criteria

Pro Tip:
Working with a team gives you flexibility. If your agent is tied up, someone else can step in so you don’t miss a showing.

Use a simple checklist to score homes as you tour—this keeps your decisions objective and helps you narrow down the right fit.

Step 6: Writing An Offer To Purchase a Property

Making an Offer

You found the one—now it’s time to act.

Your agent will prepare the purchase agreement, outlining price, deposit, possession date, included items, and any conditions (financing, inspection, etc.). You review, sign, and the offer is submitted.

How your offer is structured matters. In competitive situations, small details can make the difference. Your agent will guide you on strategy—what strengthens your position and what could hurt it.

Deposit vs. Down Payment

These get confused all the time—here’s the simple version:

Deposit: Paid within 1–2 business days after acceptance. Held in trust and shows you’re serious. Typically ~1–5% of the purchase price.
Down payment: The total amount you put toward the purchase on closing. The deposit is part of this.

Example:
If you’re putting 15% down and already paid a 5% deposit, you’ll owe the remaining 10% on closing.

Step 7: Closing On The Deal

After Your Offer Is Accepted

If your offer has been accepted, you’re almost there—but there are still a few important steps before you get the keys.

Pay your deposit on time
Your purchase contract will state when the deposit is due. Your agent will tell you how to deliver it and where it needs to go. Make sure those funds are accessible. If your money is tied up in investments or registered accounts, that needs to be dealt with early so you don’t risk delaying the deal.

Remove your conditions
If your offer included conditions like financing, home inspection, or condo document review, those must be completed by the deadlines in the contract. Once you are satisfied, you sign a waiver removing those conditions and send it to the seller before they expire. Miss that deadline and the deal can fall apart. No drama, just paperwork with consequences.

Coordinate with your team
This is where your agent, lender, lawyer, and inspector all need to stay aligned. Everyone has a job, and timing matters. A good agent keeps the moving parts moving.

When do you get the keys?
You usually receive the keys on closing day after the lawyers complete the paperwork, funds are transferred, and title changes hands. This often happens later in the day, not first thing in the morning. Plan your move accordingly.

Kristen Young

Merge Mortgage Group

Mortgage Partner

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Mortgage Matters

Mortgage strategy plays a key role in any real estate decision. Understanding your options early can help you plan confidently, move faster, and avoid surprises along the way.

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