Buyer guide

First-time
homebuyer's
guide.

Buying your first home in Calgary is one of the most significant financial decisions you'll ever make. This guide walks you through every step — from saving your down payment to getting your keys — and explains every government program available to help you get there.

Government programs

Money available to first-time buyers.

Federal — CRA

First Home Savings Account (FHSA)

$40,000

Contribute up to $8,000/year (lifetime max $40,000). Contributions are tax-deductible like an RRSP. Withdrawals for a first home purchase are completely tax-free. Open one as soon as possible — unused contribution room carries forward.

Federal — CRA

Home Buyers' Plan (HBP)

$35,000

Withdraw up to $35,000 per person ($70,000 per couple) from your RRSP tax-free for a first home purchase. Must be repaid to your RRSP over 15 years or the amount is added to your income. Works best if you've been contributing to RRSP for several years.

Federal — CRA

First-Time Home Buyers' Tax Credit

$1,500

Claim a $10,000 non-refundable tax credit on your first home purchase. Worth approximately $1,500 in actual tax savings. Claim it on your tax return for the year you bought your home. Available to both buyers if purchasing jointly.

Federal — CMHC

GST/HST New Housing Rebate

Up to $6,300

If buying a new home, you may qualify for a rebate of a portion of the GST paid. In Alberta, this is up to 36% of the GST paid on homes under $450,000, phasing out between $450K–$525K. Apply through your lawyer at closing.

Stack them together

"A couple buying their first home can combine the FHSA ($80,000 total), the HBP ($70,000 total), and the tax credit — potentially adding $150,000+ to their down payment while reducing their tax bill."

The process

Step by step — your first Calgary home.

Step 01

Know your budget — for real

Before you look at a single listing, understand what you can actually afford. Use Shanna's Affordability Calculator. Then speak with a mortgage broker — not just your bank — to get pre-approved. Know your stress test rate, your qualifying amount, and your monthly payment at that maximum.

Step 02

Open your FHSA now

If you haven't already, open a First Home Savings Account today. Contribution room accumulates from the year you open it — every year you delay is $8,000 in potential tax-free savings you can't get back.

Step 03

Choose your community and property type

Calgary's diverse communities each offer different price points, lifestyles, and long-term investment profiles. Shanna's community pages provide detailed market data for SW and NW Calgary. Consider proximity to work, school catchments, transit access, and what matters most to your lifestyle.

Step 04

Work with a buyer's agent

Engaging Shanna as your buyer's agent costs you nothing — the seller pays the cooperative commission. You get expert negotiation, full market access through MLS®, honest advice on value, and a builder's eye on property condition. There is no downside to having representation as a buyer.

Step 05

Make an offer with conditions

As a first-time buyer, always include a home inspection condition and a financing condition in your offer. These protect you if defects are discovered or your mortgage falls through. In competitive markets, you may face pressure to waive conditions — Shanna will advise you honestly on the risk.

Step 06

Home inspection

Budget $500–$700 for a professional home inspection. Attend it personally — the inspector will walk you through every system in the home. Shanna will attend with you and translate the findings into what they actually mean for your purchase decision and any price renegotiation.

Step 07

Retain a real estate lawyer

A real estate lawyer handles title transfer, mortgage registration, and the exchange of funds on closing day. Budget $1,500–$2,000. Shanna can recommend trusted Calgary real estate lawyers, including one with Mandarin-speaking staff.

Step 08

Possession day

Your lawyer will confirm the possession time — usually 12pm. Do a final walkthrough before taking keys. Check that all inclusions are present, the home is in the same condition as when you purchased it, and any repairs agreed to in the offer have been completed.

Budget for these

Closing costs first-time buyers miss.

Cost	Typical amount	Notes
Home inspection	$500–$700	Always include — worth every dollar
Legal fees	$1,500–$2,000	Required in Alberta for title transfer
Title insurance	$200–$400	Protects against title defects
Property tax adjustment	Varies	You reimburse seller for pre-paid property tax
CMHC insurance	2.80–4.00% of mortgage	Added to mortgage if down payment under 20%
Moving costs	$2,000–$5,000	Book early, especially May–August
Land title transfer fee	$400–$600	Alberta's small fee instead of land transfer tax
Immediate repairs	$0–$10,000+	Budget a buffer for surprises after move-in

Ready to buy your first home in Calgary?

Shanna has helped many first-time buyers navigate the Calgary market — in English, Mandarin, and Cantonese. Start with a free, no-obligation conversation.

Talk to Shanna Back to buyer guide

First-timehomebuyer'sguide.

Money available to first-time buyers.

Step by step — your first Calgary home.

Closing costs first-time buyers miss.

Ready to buy your first home in Calgary?

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