How To Save $5000 or More on Calgary Property

There are a few ways you can really save money on buying Calgary property. Whether it is for yourself or for a business there are always ways to save money when it comes to real estate. Let us walk you through some of the ways you can save $5000 plus when you buy a home.

1) Use the DOM - DOM stands for days on the market. Knowing that number can help you get a good deal. A home that is on the market longer then the average is not moving for a reason. Swoop in and get it at a discount. Fix the issue, it is usually nothing major. And you have savings in your pocket. Your real estate agent should get you this number and the average days for Calgary. Just make sure the DOM of the home you are offering on is larger then the average for Calgary. So if you are looking at condos and the condo average Calgary DOM is 50. Make sure you are looking at homes at least above that.

2) Check occupancy - Every agent can tell you who lives in the home. Seller, tenant, vacant or foreclosure. With a high DOM and a vacant or foreclosed home, the dollars you can save can be amazing. Ask your Realtor® to setup a search that only brings up vacant or foreclosed property. No one wants to hold a vacant property for long and a foreclosure can be a good deal. Check out our Buying A Foreclosure guide for more details.

3) Don’t be picky - We know for some people this can be hard. But the less picky you are the better chance that you will find a great deal. If there are 6 houses you really like instead of just one you will eventually hit on a great deal. You can look at the DOM and the occupancy. Then see which might be the most motivated and then come in at a low price. If that one does not work you have 5 others to try. Eventually you will get a great deal.

Using these simple tips can save you thousands and thousands of dollars when buying Calgary property. Get your agent to help. They have a lot of search tools you do not and can make this much easier. Good luck on your buy and we hope you save as much as we know you can.New Page