Portrait of the First-Time Homebuyer in Calgary

A recent survey released by BMO Bank of Montreal, showed that the youngest first-time homebuyers in Canada are located right here in Calgary. While the average age of first-time homebuyers is on the rise (a result of rising real estate prices), Calgary’s buyers are still quite younger than the rest of the country.

A look at some of the data from the survey gives us a good look at the average first-time homebuyer in Calgary:

• The average first-time homebuyer in Calgary is 32 (compared to 36 in Canada)
• 54% of Calgary first-time buyers are single (50% in Canada)
• 30% of Calgary first-time buyers are married (22% in Canada)
• 12% of Calgary first-time buyers are common-law (19% in Canada)
• 4% of Calgary first-time buyers are divorced, widowed or separated (11% in Canada)
• Average income of a first-time Calgary buyer is $71,000 ($55,000 in Canada)

First-time homebuyers in Calgary plan to buy their first home and live in it for about 16 years, which is the same trend as the rest of the country. Other than that, you can see that the trend is sitting quite differently here in Calgary.

You can find more data from this survey in this Calgary Herald article.

And if you have any questions about the mortgage market or your homebuying options, please feel free to contact me.

Tags : calgary first-time homebuyer, calgary home buyer, calgary homebuyer, calgary mortgage, calgary mortgage broker