When you're selling a home, it's easy to focus on one number: the sale price.

But the number that really matters is what you actually walk away with after all of the costs are paid.

Selling a home in Calgary comes with several expenses, from real estate commission and legal fees to mortgage penalties and the cost of getting your home ready for the market. Some costs are predictable, while others depend on your specific situation.

Here's a breakdown of the main costs to keep in mind before you sell.

The Main Costs of Selling a Home in Calgary

Real Estate Commission

Real estate commission is typically the largest expense when selling a home.

Commission is generally calculated as a percentage of the final sale price and can be negotiable. In a traditional transaction, 7% on the first $100,000 and 3% on the remaining balance of the sale is charged. This is split between both the buyer and seller agent.

The commission is normally paid from the proceeds of the sale at closing, with the agreed amount being distributed between the brokerages involved.

The exact commission structure should be clearly outlined in your listing agreement before you go on the market. Make sure you understand what you're paying for and don't be afraid to ask questions.

Legal Fees

You'll need a real estate lawyer to complete the sale.

Your lawyer handles things like transferring ownership to the buyer, paying out your existing mortgage, preparing the necessary documents and distributing the sale proceeds.

There can also be adjustments for things such as property taxes or condo fees depending on the closing date.

Legal fees vary depending on the lawyer and the complexity of the transaction, so it's a good idea to get a quote ahead of time.

Mortgage Discharge and Prepayment Penalties

If you still have a mortgage on your home, there can be costs associated with paying it out.

There is usually a mortgage discharge or administration fee, but the bigger expense can be a prepayment penalty if you're breaking a fixed-term mortgage before it matures.

Depending on your lender, mortgage type, interest rate and how much time remains on the term, the penalty can potentially be significant.

If you're selling your current home and buying another one, you may also have the option of porting your mortgage to the new property, which could help reduce or eliminate a penalty.

This is something I recommend checking with your mortgage provider early in the process. It's much better to know the number before you list than to find out when you're already committed to a sale.

Getting Your Home Ready to Sell

Not every home needs a major renovation before going on the market.

In many cases, the best improvements are relatively simple: decluttering, deep cleaning, touch-up painting, minor repairs, landscaping and improving the overall presentation of the home.

Some sellers may also choose to invest in staging or make larger updates, but this is where it's important to be strategic.

Not every renovation will give you a return when you sell.

Before spending thousands of dollars getting your home ready, it's worth discussing which improvements could actually help your home sell and which ones may not be worth the money.

Professional photography and other marketing expenses are also important when selling, but these are typically included as part of the listing service rather than being an additional cost to the seller.

So, What Will You Actually Walk Away With?

This is where things get more interesting.

Let's say your home sells for $500,000.

You can't simply assume you'll walk away with $500,000.

You may have:

• Real estate commission

• Legal fees

• Mortgage discharge costs

• Potential mortgage penalties

• Costs associated with preparing the home

• Adjustments for property taxes or condo fees

You also need to account for the amount remaining on your mortgage.

That's why I always recommend looking at net proceeds, not just the potential sale price.

A $500,000 offer isn't necessarily better than a $490,000 offer if the terms, conditions or other factors are significantly different.

What Is My Calgary Home Worth?

Before you can figure out what you'll walk away with, you need a realistic idea of what your home could sell for.

Online home value estimates can be useful as a starting point, but they don't always tell the full story.

• Your home's value can be affected by:

• Condition

• Renovations and updates

• Lot size

• Location

• Street and surrounding homes

• Basement development

• Garage

• Layout

• Recent comparable sales

• Current inventory and buyer demand

Two homes in the same community can have very different values.

A comparative market analysis (CMA) looks at your specific property and compares it with similar homes that have recently sold, while also considering what's currently competing with you on the market.

If you're thinking about selling, getting an accurate valuation is one of the best places to start.

Should You Sell Now or Wait?

This is probably one of the most common questions I hear from homeowners.

And unfortunately, there isn't a universal answer.

The right time to sell depends on your situation and the market.

On the personal side, you need to consider your timeline, where you're going next, whether you're buying another property and what your financial goals are.

On the market side, things like interest rates, inventory, buyer demand and the supply of homes similar to yours can all have an impact.

Sometimes waiting makes sense.

Sometimes waiting six months for a potentially better market doesn't make financial sense when you consider the costs of carrying the property, mortgage payments, taxes and other expenses.

The goal shouldn't be to perfectly time the Calgary real estate market. The goal should be to make a decision that makes sense for your specific situation.

How Can You Get the Most From Your Sale?

Selling for the highest possible price isn't always about spending the most money on your home.

1. It's about making smart decisions before you list.

2. Two of the biggest factors are pricing and marketing.

Pricing too high can cause your home to sit on the market, lose momentum and eventually require a price reduction. Pricing strategically from the beginning can create stronger interest and potentially multiple offers when the conditions are right.

Then there's marketing.

Professional photography, strong online presentation, MLS exposure, effective advertising and making sure your home shows well all play a role in getting qualified buyers through the door.

The goal isn't simply to sell your home.

It's to maximize what you actually walk away with.

Frequently Asked Questions

How much does it cost to sell a house in Calgary?

The main costs are real estate commission, legal fees and mortgage discharge or prepayment costs. You may also have expenses related to cleaning, repairs, staging or other preparation. The total varies depending on your property and financial situation.

What is the biggest cost when selling a home in Calgary?

Real estate commission is typically the largest single selling expense. The amount is based on the final sale price and is negotiable. The exact structure should be discussed with your realtor and outlined in your listing agreement.

Does the seller pay the buyer's agent commission in Calgary?

In a traditional Calgary real estate transaction, the seller typically pays the total agreed commission from the sale proceeds, which is then shared between the listing brokerage and buyer's brokerage. The exact arrangement depends on the agreements in place and should be reviewed before listing.

How do I find out what my Calgary home is worth?

Online estimates can provide a rough starting point, but they don't account for all of the details that can affect your home's value. A comparative market analysis using recent comparable sales and current competition can provide a more realistic estimate.

Should I sell my Calgary home now or wait?

It depends on both your personal circumstances and current market conditions. Your timeline, financial situation, plans for your next home, interest rates, inventory and buyer demand can all play a role. There isn't one answer that works for every homeowner.

Final Thoughts

Selling a home is a major financial decision, and knowing your costs ahead of time can make the process much less stressful.

Before putting your home on the market, I'd recommend getting three numbers figured out:

1. What could my home realistically sell for?

2. What will it cost me to sell?

3. How much will I actually walk away with?

Once you know those numbers, you can make a much more informed decision about whether selling makes sense right now.

If you're considering selling your Calgary home and want to get an idea of what it's worth and what your potential net proceeds could look like, I'd be happy to help you work through the numbers.

Selling a home is one of the biggest financial decisions most people make, and some of the most expensive mistakes aren't always obvious.

In Calgary, where the market can vary significantly from one community and property type to the next, pricing, preparation, timing and negotiation all matter. A small mistake can mean fewer showings, a longer time on the market or thousands of dollars left on the table.

35 tips sellers should know

1. Overpricing to test the market: It's completely normal to feel your home is worth more after years of memories and improvements. Buyers, however, are looking at what else they can buy for the same money. Pricing needs to be based on the current market, not what you feel is right.

2. Underpricing for a bidding war: Pricing aggressively can work in a hot market, but there's no guarantee buyers will compete. In a balanced or slower market, underpricing can simply mean leaving money on the table.

3. Ignoring recent comparable sales: Calgary is a community-by-community market. What sold six months ago in Auburn Bay may have little relevance to a home in Bridgeland today. Recent sales, active competition and current buyer demand all need to be considered.

4. Pricing the same way in every season: Spring and summer typically bring more activity, while late fall and winter can be slower. That doesn't mean you can't sell during the quieter months, but your pricing and expectations should reflect the market you're entering.

5. Waiting too long to adjust the price: If a home has been on the market for several weeks, is getting showings but no offers, buyers are giving you feedback. Waiting too long to make a change can allow the listing to become stale.

6. Assuming renovations add dollar-for-dollar value: A $50,000 renovation doesn't automatically add $50,000 to the sale price. Buyers are paying for the overall value of the home, not the amount you spent improving it.

7. Skipping a pre-listing inspection: A pre-listing inspection isn't required, but it can uncover issues before a buyer does. Knowing about an aging furnace, roof concern, Poly-B plumbing or moisture issue ahead of time gives you more options.

8. Overlooking curb appeal: First impressions start before buyers walk through the front door. Clean the exterior, tidy the yard, clear walkways and make sure the entrance feels welcoming.

9. Leaving maintenance until later: Small issues can create a bigger impression than sellers realize. Leaky faucets, damaged caulking, broken fixtures or an overdue furnace service can make buyers wonder what else hasn't been maintained.

10. Leaving the home too personalized: Family photos, large collections and bold décor can make it harder for buyers to picture themselves living there. The goal isn't to make your home look like nobody lives there, but to make it easier for buyers to see themselves in it.

11. Leaving vacant rooms empty: Empty rooms can actually look smaller in photos. Simple staging can help buyers understand how a space can be used and give the home a better sense of scale.

12. Using poor-quality listing photos: Most buyers are going to see your home online before they ever see it in person. Dark, cluttered or poorly composed photos can make a great home easy to scroll past.

13. Ignoring odors: Pet, smoke, cooking and musty smells can create an immediate negative impression. Sellers often become used to the smells in their own home, so it's worth getting an honest opinion from someone else.

14. Ignoring moisture or foundation concerns: Basement moisture, cracks and drainage issues can quickly become major concerns for buyers. If you know there's an issue, it's better to understand it and address it before going to market.

15. Overlooking small cosmetic updates: You don't necessarily need a major renovation before selling. Updating dated light fixtures, faucets, cabinet hardware or paint can make a home feel much more move-in ready without spending a fortune.

16. Choosing an agent based only on commission: Commission matters, but so does what you're getting for it. Marketing, pricing strategy, communication, negotiation and knowledge of your specific community can have a much bigger impact on your final result.

17. Assuming there's only one "right" time to sell: Spring may bring more activity, but waiting months for the perfect market isn't always the best strategy. Your personal timeline, competition and the type of property you're selling all matter.

18. Not asking what the marketing plan actually includes: Before listing, understand what your agent is going to do to market the property. Professional photography, online exposure, social media, open houses, staging advice and ongoing communication should all be discussed upfront.

19. Not reading the listing agreement carefully: Understand the length of the agreement, cancellation terms, commission structure and marketing commitments before signing. You should know exactly what you're agreeing to.

20. Treating the Seller Property Disclosure Statement casually: If you're completing a disclosure statement, take your time and answer accurately. An incomplete or inaccurate disclosure can create problems long after the sale.

21. Failing to disclose known material defects: Sellers generally have an obligation to disclose known latent defects that a buyer couldn't reasonably discover themselves. If you're aware of a significant issue, talk to your REALTOR® and legal professional about the appropriate disclosure.

22. Forgetting about unpermitted renovations: Finished basements, secondary suites and other renovations completed without the necessary permits can create concerns for buyers, lenders and insurers. It's better to identify these issues before you have an accepted offer.

23. Leaving the Real Property Report until the last minute: If you don't already have a current Real Property Report, find out early whether you need one and whether municipal compliance is required. Waiting until closing is approaching can create unnecessary stress and expense.

24. Forgetting about selling costs: Alberta doesn't have a traditional provincial land transfer tax, but selling still comes with costs. Legal fees, mortgage discharge fees, potential penalties, property tax adjustments and other expenses can all affect your final proceeds.

25. Not checking your mortgage penalty: If you're breaking a mortgage before the end of the term, there may be a significant payout penalty. Find out what you're dealing with before you decide on your listing price and moving timeline.

26. Staying home during showings: Buyers are usually more comfortable taking their time when the seller isn't there. Give them the space to talk openly, look around and picture themselves living in the home.

27. Rejecting conditional offers automatically: Financing and inspection conditions are normal parts of many Calgary transactions. A conditional offer isn't necessarily a weak offer, especially when it's coming from a qualified buyer.

28. Taking a low offer personally: A low offer can be frustrating, but it's still an opportunity to negotiate. Instead of reacting emotionally, look at the terms, the buyer's position and what might bring the offer closer to where you need it to be.

29. Not planning your possession date early: Selling one home while buying another can create a complicated timeline. Think about your purchase, sale, possession and moving dates before accepting an offer.

30. Accepting the highest price without considering the terms: The highest offer isn't always the best offer. Conditions, deposit, possession date and the buyer's overall ability to close can all affect the real value of an offer.

31. Making changes to the property after the sale: Once you've accepted an offer, don't remove fixtures or make significant changes to the property without understanding your obligations under the contract.

32. Leaving the home unclean for possession: The home should be left in the condition agreed to in the contract. A clean, tidy property makes for a much smoother final walkthrough and possession.

33. Not keeping records of repairs: If you've completed repairs or improvements before selling, keep your invoices, receipts and documentation. Buyers may ask for proof of work, especially for major repairs.

34. Underestimating moving costs and logistics: Moving companies, storage, temporary accommodation and overlapping possession dates can add up quickly. Build these costs into your overall selling plan.

35. Focusing only on the sale price: At the end of the day, the number on the offer isn't the same as the amount you actually walk away with. Your mortgage payout, legal fees, commissions, adjustments, repairs and other costs all affect your net proceeds.

Frequently Asked Questions

1. What is the biggest mistake Calgary home sellers make? In my opinion, it's usually getting the price wrong. Overpricing can reduce showings, extend your time on the market and eventually force you to chase the market with price reductions.

2. Do I need a home inspection before selling? No, but a pre-listing inspection can be useful. It gives you the opportunity to identify potential problems before a buyer does and decide whether you want to address them before listing.

3. Do I need a Real Property Report to sell my home? It depends on the circumstances and the requirements of the transaction. If you don't have a current RPR, it's worth finding out early rather than discovering you need one just before closing.

4. When is the best time to sell a home in Calgary? There isn't one perfect answer. Spring typically brings more buyer activity, but a well-priced and well-marketed home can sell successfully at any time of year. Your property type, community and competition are just as important as the season.

5. Do I have to disclose problems with my home? Known material or latent defects generally need to be disclosed. If you're unsure whether something needs to be disclosed, it's much better to ask before listing than deal with a potential problem after the sale.

The Bottom Line

Selling a home isn't just about putting a sign on the lawn and waiting for an offer.

The biggest mistakes usually happen before the home even hits the market: pricing it incorrectly, overlooking repairs, choosing the wrong strategy or not understanding the costs and obligations involved.

A good selling plan should answer three simple questions:

What is my home realistically worth?
What should I do before I list?
What strategy gives me the best chance of getting the strongest offer?

Getting those decisions right from the beginning can save you time, money and a lot of unnecessary stress.

If you're thinking about selling in Calgary and want to understand what your home could realistically sell for, I'm always happy to have a conversation and give you an honest look at the market before you make any decisions.

Calgary’s citywide blanket rezoning officially ended on August 4, 2026.

If you remember, the 2024 rezoning changed the rules across much of Calgary, allowing more housing types on lots that previously would have been limited to lower-density housing.

Now, much of that has been reversed.

But this isn’t a complete reset, and that’s where things get a little more interesting.

So, What Actually Changed?

With the repeal, about 99% of properties that were rezoned in 2024 have returned to the zoning they had before the blanket rezoning.

For many homeowners, that means a return to lower-density zoning and fewer options for multi-unit development.

But there are exceptions.

If a development, building permit, subdivision application, or other qualifying application was already submitted or approved before the applicable deadline, the property may be protected under the previous rules.

There are also properties that went through an individual rezoning process after August 6, 2024 that can retain their updated zoning.

So, in simple terms, not every property went back to where it started.

What If Your Property Is Still R-CG?

This is one of the areas where the details really matter.

Some properties remain zoned R-CG, which allows grade-oriented housing such as rowhouses.

However, the development rules are now tighter.

Under the updated rules:

• Maximum height drops from 11 metres to 10 metres

• Maximum lot coverage drops from 60% to 55%

• Zero lot line development is no longer permitted

• Compliant rowhouses remain a permitted use

• Density remains at 75 units per hectare

So while the development envelope is smaller, compliant development on R-CG properties can still move forward under the updated rules.

What Does This Mean for Homeowners?

For many homeowners, the biggest change is simply more certainty about what can be built on their property and potentially next door.

If you bought a home expecting the neighbourhood to remain relatively low-density, this could be a positive change.

There may be less immediate potential for a large redevelopment project to change the character of your block.

But there is another side to this.

If you bought a property partly because of its redevelopment potential, that potential may have changed.

And that can affect land value.

My biggest recommendation for homeowners is simple:

Check your property's current land use district.

Don't rely on what your zoning was in 2023 or even what you thought it was last year. The rules have changed, and the current zoning is what matters when you're looking at what a property can actually do.

What If You Were Planning an Infill?

This is where the grandfathering rules become especially important.

Maybe you bought a lot because you thought it could accommodate additional development.

Maybe you had already started working with a designer.

Or maybe you were negotiating a purchase because of the property's redevelopment potential.

If you didn't have an application in before the applicable deadline, you may now be looking at a very different development opportunity.

That’s why, if redevelopment is part of the reason you're buying a property, I would strongly recommend confirming the current zoning before your conditions expire.

The difference between an R-CG property and a standard residential designation can have a significant impact on what you can build and, ultimately, what the land is worth.

What Does This Mean for Buyers?

For buyers, the impact is a little more subtle.

There may now be fewer opportunities to purchase a standard residential lot with automatic multi-unit redevelopment potential.

That means if you're buying in an established neighbourhood, you need to look beyond just the house itself.

What can you build?

What could be built next door?

Does the current zoning support the future plans you're considering?

And if you're paying a premium for redevelopment potential, does that potential actually exist under today's rules?

These questions can become particularly important for investors and buyers looking at older homes where the land itself is a major part of the value.

What About Investors and Developers?

This is where the repeal could have the biggest immediate impact.

The blanket rezoning made certain development opportunities easier to pursue across the city.

With that now gone, developers may have to be more selective.

Instead of assuming a lot can accommodate a particular type of development, there may be more emphasis on:

• Targeted rezoning applications

• Strategic land acquisition

• Existing R-CG properties

• Specific areas where higher-density development is already supported

• In other words, fewer easy opportunities and more strategic ones.

For investors, that makes understanding zoning before purchasing even more important.

The Housing Supply Problem Isn't Going Away

This is probably the part I don't want people to overlook.

Repealing blanket rezoning doesn't solve Calgary's housing supply challenge.

Calgary is still growing.

Demand for housing isn't disappearing.

And construction isn't getting faster or cheaper simply because the zoning rules have changed.

So while some areas will now have less development flexibility, the underlying demand for housing remains.

That's going to continue creating a balancing act between adding housing, maintaining neighbourhood character, and making sure the city can support the growth that's coming.

What Happens Next?

I don't think this is the end of Calgary's conversation around density.

If anything, it's probably a pivot.

Rather than relying on one citywide approach, we could see more targeted changes to zoning and development policies as Calgary continues trying to balance housing supply with infrastructure and community concerns.

For homeowners, buyers, and investors, that means it's worth paying attention.

Because zoning isn't just a planning issue.

It can directly affect what a property is worth and what you can do with it.

The Bottom Line

Calgary's blanket rezoning repeal is a meaningful change, but the impact isn't going to be the same for everyone.

For some homeowners, it brings back more certainty around the future of their neighbourhood.

For investors and developers, it could significantly change the value and potential of certain lots.

But the biggest takeaway is simple:

Don't assume you know what a property can do based on what it could do a year or two ago.

Check the current zoning.

If you're buying for redevelopment, verify the development potential before your conditions expire.

And if you're selling a property with redevelopment potential, make sure you understand exactly what that potential is today.

Calgary real estate is about more than interest rates, inventory and sale prices. Policy matters. Zoning matters. And sometimes, a small change in the rules can make a big difference in the value of a property.

If you're thinking about buying, selling, or investing and you're unsure how the current zoning changes could affect a property, let's have a conversation. Understanding the opportunity before making a move can make all the difference.

Canada’s foreign buyer ban has been part of the housing conversation since 2023, but with the current legislation set to expire in 2027, the bigger question is what comes next.

And honestly, I think we could see some changes.

The original goal of the ban was to help improve affordability by limiting foreign buyers from purchasing Canadian homes. But foreign buyers were already a relatively small portion of the market, while factors like interest rates, population growth and, most importantly, a lack of housing supply have had a much bigger influence on prices.

So What Could Change?

Rather than completely removing the restrictions, Canada could take a more targeted approach and allow foreign investment in areas that actually add housing supply.

That could include:

• New construction

• Vacant land

• Large-scale redevelopment

• Purpose-built rental housing

Australia has taken a similar approach, allowing certain foreign investment where it contributes to increasing housing supply. Canada already has some exemptions for development and vacant land, but new-build purchases could become a bigger part of the conversation after 2027.

What Could This Mean for Calgary?

For Calgary, I think the biggest impact could initially be felt in development and new construction, rather than the typical resale market.

More investment could mean more capital available to build homes and rental properties, which is ultimately what Calgary needs more of.

But there is another side of this that buyers should pay attention to.

Buyers Could Be Competing Globally

If the federal government eventually loosens the restrictions enough to allow foreign buyers back into the resale market, the competition for certain homes could change.

Right now, when you're buying a home in Calgary, you're primarily competing with other buyers looking in Calgary.

Open that market to international buyers, and suddenly the pool of potential buyers becomes much larger.

That doesn't mean foreign buyers will flood Calgary or drive prices through the roof. But it does mean that buyers could be competing for homes with a much larger pool of capital than they are today.

For anyone thinking about buying in 2027 or beyond, it's something worth keeping an eye on.

My Take

I don't think foreign investment is necessarily a bad thing, especially when that investment helps create more housing.

But if the rules change, I think it's important to understand where that investment is going and what it could mean for the average buyer.

More investment into building homes could help affordability by increasing supply.

More competition for existing homes could do the opposite.

With 2027 getting closer, this is definitely one I'll be watching, especially for what it could mean for Calgary buyers, sellers and investors.

If you’ve been looking at condos in Calgary, you’ve probably noticed one thing pretty quickly: condo fees can vary A LOT.

You might see one condo with fees of $300/month and another similar-sized unit charging $700+.

So what’s the difference?

And more importantly, does a lower condo fee actually mean you’re getting a better deal?

Not necessarily.

Condo fees are an important part of the overall cost of owning a condo, and understanding what you’re actually paying for can save you from some potentially expensive surprises down the road.

Condo Fees at a Glance

• Condo fees are a monthly cost paid by condo owners

• They help cover maintenance and upkeep of the building and common areas

• What’s included varies from building to building

• Calgary condo fees can often range from around $0.50 to $1.00 per square foot

• A portion typically goes toward the building’s reserve fund

• Lower fees aren’t always better

• Fees can increase over time as maintenance costs and inflation increase

What Are Condo Fees?

Condo fees, sometimes called condo maintenance fees, are monthly payments made by condo owners to the condominium corporation.

Think of them as your share of the costs associated with maintaining and operating the building and its common areas.

Depending on the building, your condo fees could help pay for things like landscaping, snow removal, building insurance, maintenance, utilities, elevators, amenities and future major repairs.

A portion of the fees also typically goes toward the reserve fund, which is essentially the building's savings account for larger expenses down the road.

And yes, condo fees are an additional expense on top of your mortgage, property taxes and personal condo insurance.

What Do Condo Fees Cover?

This is where things get interesting.

Not every condo building includes the same things in its monthly fees.

Depending on the building, condo fees may cover:

• Water

• Heat

• Garbage collection

• Landscaping

• Snow removal

• Building insurance

• Common-area maintenance

• Elevators

• Gyms, pools or other amenities

• Property management

• Contributions to the reserve fund

For example, one building might include heat and water, while another has you paying those utilities separately.

So when you're comparing two condos, don't just compare the monthly fee. Look at what you're actually getting for that fee.

A $700/month condo fee that includes several utilities and extensive amenities could potentially be a better overall value than a $500/month fee where you have to pay for everything separately.

What Don't Condo Fees Cover?

There are also some expenses you'll still be responsible for.

1. Property Taxes: Your property taxes are separate from your condo fees and are paid to the municipality.

2. Your Personal Condo Insurance: The condominium corporation has insurance for the building and common areas, but that doesn't replace your own insurance. You'll still want coverage for your belongings, improvements to your unit and personal liability.

3. Parking & Storage: Some buildings charge separately for parking stalls or storage lockers, especially if they're not included with the unit.

4. Special Assessments: This is the one that can really hurt. If the reserve fund doesn't have enough money to cover a major repair, the condo corporation may issue a special levy, also called a special assessment.

That means an additional bill for the owners.

And depending on the project, that bill can be hundreds, thousands or even tens of thousands of dollars.

How Are Condo Fees Calculated?

There isn't one universal formula for condo fees.

Several factors can affect what you pay, including:

• The size of your unit

• The age of the building

• The type of building

• The amenities

• Shared utility costs

• Common-area maintenance

• The condominium corporation's budget

• Contributions to the reserve fund

• Inflation and rising maintenance costs

Generally speaking, larger units will have higher fees because they're responsible for a larger share of the building's expenses.

Buildings with pools, gyms, underground parking, elevators and extensive landscaping will also generally cost more to operate than a smaller, simpler building.

How Much Are Condo Fees in Calgary?

A general range you'll often see in Calgary is around $0.50 to $1.00 per square foot per month, although there are plenty of exceptions.

For example, a 1,000-square-foot condo at $0.60/sq. ft. would have condo fees of roughly $600/month.

A similar-sized unit in a building with more amenities, higher operating costs or a greater reserve fund contribution could be considerably more.

The important thing is not to automatically assume that a higher condo fee is bad.

Sometimes you're paying more because the building is properly funding its future expenses.

And that's actually something you want to pay attention to.

The Reserve Fund: Probably the Most Important Part

If you're buying a condo, I would pay very close attention to the reserve fund.

Think of it as the building's long-term savings account.

A portion of your monthly condo fee goes toward this fund, which is intended to pay for major repairs and replacements in the future.

Things like:

• Roof replacement

• Exterior repairs

• Windows

• Elevators

• Building systems

• Structural repairs

• Other major capital projects

Older buildings can be particularly important to investigate because more of their major components may be approaching the end of their useful life.

And in Calgary, our freeze-thaw cycles, temperature swings and weather can add additional wear and tear to buildings over time.

What Happens When the Reserve Fund Isn't Enough?

Let's say the building needs a $500,000 repair, but there isn't enough money in the reserve fund.

The condominium corporation still has to pay for the repair.

That's where a special levy can come in.

The owners may be required to contribute additional money to cover the shortfall.

This is one of the biggest reasons I always tell condo buyers:

Don't just look at the condo fee. Look at the financial health of the building.

A building with a $400/month condo fee isn't necessarily a better deal than one charging $600/month.

The $400 building might simply not be putting enough money aside for future repairs.

What Is a Reserve Fund Study?

A reserve fund study is essentially a professional assessment of the building's major components and future repair needs.

It looks at things like:

• What needs to be replaced

• When those replacements are expected

• How much they could cost

• Whether the current reserve fund is sufficient

This can give you a much better picture of the building's financial position and potential future costs.

This is something I strongly recommend reviewing before buying a condo.

Red Flags to Watch For

When reviewing a condo, here are a few things that would make me dig deeper:

• Condo fees that seem unusually low compared with similar buildings

• An outdated reserve fund study

• A reserve fund that's consistently shrinking

• Significant deferred maintenance

• Multiple special assessments in recent years

• Large upcoming repairs without enough money set aside

None of these automatically mean you should walk away.

But they are definitely reasons to ask more questions.

How Should You Evaluate Condo Fees Before Buying?

Here's how I would approach it.

1. Review the Financial Statements: Look at the condo corporation's financial statements and see whether the building is running consistent surpluses or deficits. You also want to see whether the reserve fund is growing or shrinking.

2. Review the Reserve Fund Study: Find out what major repairs are coming and whether the building has enough money set aside to deal with them.

3. Look at the History of Condo Fee Increases: Don't just look at today's condo fee, ask how much the fees have increased over the past several years. If fees have been climbing significantly every year, it's worth understanding why.

4. Compare Similar Buildings: Look at other buildings in the same area. If one building is charging significantly less than comparable properties, ask yourself why. Maybe it's a newer building with fewer expenses or maybe the building isn't putting enough money into its reserve fund.

5. Find Out What's Included: Ask exactly what your condo fee covers, does it cover utilities, maintenance, etc… This can make a big difference when comparing your total monthly housing costs.

6. Ask About Special Assessments: One of the questions I would want answered before buying is: "Are there any current or upcoming special assessments?" You don't want to find out about a major upcoming bill after you've already bought the condo.

Frequently Asked Questions

1. Do Condo Fees Include Utilities? Sometimes, which utilities are included varies from building to building, so always check the condo documents and confirm exactly what's covered.

2. Can Condo Fees Increase? Absolutely, condo fees can increase as operating costs, maintenance expenses, insurance and reserve fund requirements change. That's why it's important to look at the history of fee increases rather than assuming today's number will stay the same forever.

3. Are Condo Fees Tax Deductible? It depends on how you use the property, if you're using the condo as a rental property, condo fees may be deductible as a rental expense. If you're using part of the property for business purposes, there may also be deductions available. If you're unsure, it's best to speak with a qualified tax professional.

4. Do Condo Fees Include Property Taxes? No, property taxes are separate and are paid to the municipality.

5. What Happens If I Don't Pay My Condo Fees? Not paying your condo fees can result in penalties, interest and potentially legal action. Condo fees are an obligation of ownership, so they're something you need to budget for just like your mortgage and property taxes.

6. How Are Special Levies Handled? A special levy is an additional charge to condo owners when the condominium corporation needs money for an expense that can't be covered by the existing budget or reserve fund. The amount and payment structure will depend on the situation and the condominium corporation.

The Bottom Line

When you're buying a condo in Calgary, don't let the condo fee number be the only thing you look at.

A low condo fee might sound great, but if the building isn't properly funded, you could end up paying much more later through fee increases or special assessments.

Instead, look at the whole picture:

What does the fee include?
How healthy is the reserve fund?
What major repairs are coming?
How have fees changed over time?
Are there any upcoming special assessments?

A condo with a slightly higher monthly fee can sometimes be the smarter purchase if the building is well maintained, properly managed and financially healthy.

Buying a condo isn't just about buying the unit. You're also buying into the building and its financial future.

If you're considering buying a condo in Calgary and want help understanding the condo documents, fees or overall numbers, I'd be happy to help you make sense of it before you write an offer.

A Simple Guide to Understanding the Terms You'll Hear When Buying or Selling a Home

Buying or selling a home comes with a whole new vocabulary. If you've ever been in a conversation with a REALTOR®, mortgage broker, or lawyer and thought, "I have no idea what they're talking about," you're definitely not alone.

Terms like RPR, conditions, deposit, and possession date get thrown around all the time, especially here in Calgary. While they might sound intimidating at first, they're actually pretty straightforward once someone explains them.

The more you understand these terms, the easier the buying or selling process becomes. You'll feel more confident asking questions, making decisions, and understanding exactly what's happening every step of the way.

Whether you're buying your first home or it's been years since your last move, here's a guide to some of the most common real estate terms you'll hear in Calgary.

Everyday Real Estate Terms

These are the terms you'll hear almost immediately when you begin your home search or prepare to sell.

Listing: A listing is simply a home that's officially for sale on the market.

List Price: This is the price the seller is asking for the home. It doesn't necessarily mean that's what the property will sell for. In a competitive market, homes may sell above asking. In a slower market, they may sell below list price.

Offer to Purchase (OTP): An Offer to Purchase is the written agreement a buyer submits when they want to buy a property. It includes the purchase price, deposit, conditions, possession date, and any other terms being proposed.

Counteroffer: If the seller doesn't accept the original offer, they may send back a counteroffer changing the price, possession date, or other terms. Negotiations continue until both parties agree or decide to walk away.

Sold Price: The sold price is the final amount the home actually sells for. This is why comparable sales are so important when pricing a home or deciding what to offer.

Possession Date: The possession date is the day the buyer receives the keys and officially takes possession of the property.

Conditional Sale vs. Firm Sale: A conditional sale means there are still conditions that need to be satisfied, such as financing or a home inspection. Once those conditions are removed, the sale becomes firm, meaning both buyer and seller are fully committed to completing the transaction.

The Money Talk

Buying a home involves more than just the purchase price. Here are some of the financial terms you'll hear most often.

Mortgage Pre-Approval: A mortgage pre-approval gives you an estimate of how much you can afford before you begin looking at homes. It also shows sellers you're a serious buyer.

Appraisal: An appraisal is ordered by the lender to confirm the home's value supports the purchase price. If the appraisal comes in lower than expected, it can affect financing and sometimes lead to renegotiations.

Down Payment (DP): The down payment is the portion of the purchase price that comes from your own funds. The minimum required depends on the purchase price, but a larger down payment can often reduce borrowing costs.

Deposit: The deposit is submitted with an accepted offer to show the buyer is committed to completing the purchase. It forms part of your down payment and is held in trust until closing.

Closing Costs: Closing costs are the additional expenses you'll pay when purchasing a home. These typically include legal fees, Land Titles registration, and adjustments for property taxes or condo fees. A good rule of thumb is to budget around 1–1.5% of the purchase price.

Property Taxes: Property taxes are paid to the City of Calgary each year. Depending on the possession date, buyers and sellers will reimburse one another for their share through the Statement of Adjustments.

Condo Fees: If you're purchasing a condominium, you'll also pay monthly condo fees. These help cover things like exterior maintenance, snow removal, insurance, reserve fund contributions, and shared amenities.

Terms That Often Need Explaining

These are the ones that come up more frequently during the process.

Conditions: Conditions are requirements that must be satisfied before a sale becomes firm. The most common are financing, home inspection, and condo document review.

Home Inspection: A home inspection is a professional evaluation of the property's condition before the purchase becomes final. It helps identify any major issues before you commit.

RPR (Real Property Report): An RPR is a survey showing the property boundaries and the location of structures like the home, garage, deck, fences, or shed. It's used to confirm everything has been built in the correct location.

Compliance: Compliance means the City has confirmed the improvements shown on the RPR meet municipal requirements. If something doesn't comply, it may need to be addressed before closing.

Title: Title is the legal ownership of the property. On closing day, your lawyer registers the new ownership through Alberta Land Titles.

Fixtures & Chattels: Fixtures stay with the home because they're attached to it. Think built-in appliances, light fixtures, shelving, or curtain rods. Chattels are movable items like patio furniture or a barbecue, unless specifically included in the purchase contract.

Final Walk-Through: Usually completed shortly before possession, this is the buyer's opportunity to confirm the property is in substantially the same condition as when the offer was accepted.

Government Programs You May Hear About

There are several programs designed to help Canadians purchase a home.

First Home Savings Account (FHSA): A tax-advantaged savings account for first-time buyers that allows tax-deductible contributions and tax-free withdrawals when purchasing a home.

Home Buyers' Plan (HBP): Allows eligible buyers to withdraw funds from their RRSP to help purchase a home, provided they're repaid over time.

Home Buyers' Amount: A federal tax credit available to qualifying first-time home buyers.

GST Rebate: If you're purchasing a qualifying new home, you may be eligible for a GST rebate that reduces the amount of tax you pay.

Common Property Types in Calgary

Detached Home: A standalone home with no shared walls.

Semi-Detached Home: Shares one wall with a neighbouring property while maintaining separate ownership.

Duplex: A property with two separate living units, either side-by-side or one above the other.

Row Townhouse: Multiple attached homes in a row. Some have condo fees while others are fee simple.

Apartment Condominium: A privately owned unit within a larger building with shared common areas and monthly condo fees.

Infill: A newer home built within an established inner-city neighbourhood, often replacing an older house.

Acreage: A larger property located outside the city, offering additional land, privacy, and space.

Closing Day Terms

Statement of Adjustments: A document prepared by the lawyers showing how expenses like property taxes and condo fees are divided between buyer and seller.

Lawyer Appointment: This is where the legal documents are signed and funds are transferred to complete the sale.

Registration of Title: Ownership is officially transferred through Alberta Land Titles.

Possession Day: The day you've been waiting for, the buyer receives the keys and officially takes possession of the home.

Final Thoughts

Buying or selling a home shouldn’t leave you lost and confused when you have so many other things to think about.

Once you understand the terminology, everything becomes much easier to follow. You'll know what questions to ask, feel more confident making decisions, and have a much better understanding of what's happening throughout the transaction.

And remember, you don't need to memorize all of these terms. That's what I'm here for.

Whether you're buying your first home, moving up, downsizing, or simply have questions about the Calgary market, I'm always happy to explain the process and make sure you understand every step along the way.

If you're thinking about making a move or just want some honest advice, feel free to reach out anytime. I'm always happy to help.