Millennials make up 36% of homeowners. The Calgary housing is especially ripe for Millennials.
Half of home buyers are under 36 years old. That ratio is growing. Millennials are gradually dominating the housing market everywhere, but it’s especially true for Calgary.
Here are 5 reasons why the Calgary housing market is prime real estate for Millennials:
1. The Calgary Housing Market Has Good Prices
Millennials make an average of $38,142. Affordable housing is a pressing issue among Millennials, evidenced by the fact that nearly 23% of Millennials still live with their parents.
Calgary home prices tend to be the low $400,000 range. This is a reasonable price, especially compared to places like Toronto or Vancouver. The lower price makes mortgage payments easier.
Millennials are buying homes in Calgary’s suburbs. You’d pay similar money for a single bedroom condo in the suburbs of Vancouver.
Check out Real Estate listings in Calgary and see the market for yourself.
2. Jobs
Calgary has a thriving job market. Finding a job in Calgary is easier than finding a job in other places.
Jobs in Calgary are steadily increasing. Calgary job numbers increased by 3% in 2017 and 2% in 2018.
The oil industry is thriving in Calgary. Calgary provides most of Canada’s oil. This means job numbers are growing in that field.
As the third largest municipality in Canada, it’s likely Calgary has jobs you’re looking for.
3. Mountains
Millennials value experiences over material goods. Calgary is located in Alberta and rests at the foot of the Rocky Mountains. If you live in Calgary, you’re close to some of the most breathtaking views in the world.
The mountains’ possibilities are endless. You can go hiking, go for a drive, or simply stroll and enjoy the view. Visit lakes, animals, trees, hot springs, and natural sites at your leisure.
Better yet, take a look outside and enjoy the view of mountaintops. If you like mountains, you can find your dream house in the Calgary real estate market.
4. Close to Banff
If you want to be close to Banff, move to Calgary. It takes around an hour and 20 minutes to get to Banff from Calgary.
Calgary’s prices are good when you consider how close to Banff these homes are. This resort town is full of action and fun.
In Calgary, you’re only a short drive or train ride away from visiting Lake Louise, a famous lake in Banff, along with other fun things Millennials like to do.
5. Abundant Housing Opportunities Are Available
In Calgary, there are many opportunities to buy new homes. There are 8,450 active listings and 2,964 new listings. The Calgary condo market is also thriving as well.
Most listings only spend 52 days on the market before making a sale. Once you find a home in Calgary, you need to act on buying it quickly. If you don’t, there’s a chance someone else might take it.
Find Your Forever Home Today
Fewer than half of Millennials say they have enough money to live the kind of lifestyle they want.
The Calgary housing market allows you to do just that.
Around 96% of Millennials think having a steady job is the primary marker of adulthood. When it comes to adulting, buying a house comes in as a close second.
Embrace the power of real estate and learn more about buying homes. You’ll be glad you did.