People who are successful at buying and selling real estate know when to strike.

It’s not always about being unsatisfied with your current home or the need to relocate -- perhaps the apartment you’re currently renting suits those needs just fine.

Buying a new home can turn into big financial gains down the road. This future payoff can lighten considerable expenses, such as the down payment on a larger home or paying off a vehicle or line of credit.

“The market is a huge thing to consider,” says Melanie Gowans, general manager of sales and marketing at Shane Homes Group of Companies.

“Right now, if you are a renter and thinking about your future, you should seriously look into buying a new home.

“The reason is that the market is all relative,” she adds.

Some people who own homes need to sell their existing place before they can purchase a new one. Renters don’t have those constraints and can benefit from the buyers’ market conditions that currently exist in Calgary before there’s a shift and prices go up.

“Investing in real estate is a sound and secure option that doesn’t come with the same volatile swings that the stock market does,” Gowans says.

Benefitting from smart timing on a real estate purchase does not necessarily mean it’s the right home for your needs either, says Gowans, adding “you can live in or rent out your investment.”

The most recent report from Canada Mortgage and Housing Corp. says the average cost of rent for a one-bedroom apartment in the Calgary area is $1,080 for a one-bedroom and $1,305 for a two-bedroom per month.

At the Mark 101 by Shane Multi-Family, prices on one-bedroom condos start in the $170,000s.

This development is located in the master-planned northwest Calgary community of Sage Hill, which puts residents a short distance from a wide range of places to shop and dine.

With the minimum 5% down payment of $8,500, mortgage payments could be as low as $799 per month.
Condo fees, which eliminate the need for exterior maintenance, are roughly $230.

This makes buying at the Mark 101 more affordable than renting, putting expenses for a newly-built condo at around $1,000 monthly.

“You can move in next month,” says Gowans.