While buying a home is usually about finding an ideal place to live, it can be a smart business decision, as well.

There are many ways a house hunter can turn their purchase into a money-maker.  And all of them are directly connected to buying in the right conditions.

The housing market in the Calgary area presently favours the buyer. This means the prices offered today will only rise in the future.

The average price of single-family homes sold through the resale market in Calgary in April (the most current statistics available) was 8.5% less than it was a year earlier, says the Calgary Real Estate Board.

Combining the uncommonly-affordable purchase prices available in the Calgary region today with mortgage rates sitting at near historic lows creates optimal conditions for investors.

Lower-than-average purchase prices increase the ability to build equity in the home quickly. For people looking to buy a home now for the purpose of selling as soon as the market rebounds, there’s exciting potential for short-term financial gains.

Likewise for investors with longer-term plans.

With rates as low as they are, less money earned through a renter will need to be allocated for mortgage payments, significantly improving the return on investment.

Ratehub.ca says the lowest 5-year fixed rate offered in the last 10 years was 2.09% in 2016. This only slightly edges the rate -- listed May 19, 2020 -- of 2.14%.

For those eyeing a 5-year variable rate, the figures are appealing, as well, adds Ratehub. The 10-year low was 1.69% in 2017. As of May 19, 2020, it was 1.95%.

Another advantage of lower purchase prices is that it makes expanding the home’s ability to earn money more affordable.

Rather than simply renting the above grade portion of the home, developing the basement for the purpose of renting it to a tenant becomes more cost-efficient.

There’s also the ability to develop a legal secondary suite, which Shane Homes offers in every community in which it builds.

“Numerous buyers are choosing to add a secondary suite to maximize their investment and reduce their monthly expenses,” says Melanie Gowans, General Manager, Sales, Marketing and Interior Design at Shane Homes Group of Companies

Much like an apartment, secondary suites can feature a kitchen, bedroom, laundry area, and great room, making them completely self-sufficient. Rather than a rental property where people above and below grade share the kitchen and laundry area, the secondary suite creates two individual but attached homes, increasing the value in both.