Quote:
Originally Posted by Leondros
There are over 240 listings in the Calgary area for detached houses for under $400K. If that's not affordable I think you need to temper your expectations.
That's a $20K down payment and $1,300 per month in mortgage payments. Based on the affordability calculator that's roughly a household income of $50 - 60K to support that or $30K per person.
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exactly we were approved for like 600-620k but being realistic and running the numbers and not wanting to be house poor we ended up buying a house for 380k. It is far from perfect or big and we may move one day but there is plenty of detached affordable houses. But most people want brand new or very renovated for there first home of course! we did too but we settled for closer location to the inner part of the city and a old home.