If you are considering a move to Calgary or another Alberta city, you likely have questions about what the financial picture in the area looks like. While specific circumstances and market factors vary, you can generally assume that $200,000 will buy you and excellent home in a neighborhood of your choosing. If you are curious as to what exactly this means, read on and find out precisely what $200,000 will buy you in Alberta.
City or Country?
One thing you should consider when determining what Alberta real estate you might want to invest in is a question of location. $200,000 will go further in the country than in a city like Calgary when it comes to actually buying the property, but the price of living in the country might be higher, especially if you choose a remote area that is not near a major community. On the other hand, purchasing a home in the city can be more expensive initially but offers many amenities that might make it worth it to you, especially when it comes to popular Calgary neighborhoods like Inglewood, Kensington, Chinatown and East Village.
Bedrooms and Bathrooms
Speaking broadly, you can expect $200,000 in Alberta to buy you a home with two bedrooms. There may be exceptions here and there where homes with more bedrooms are available, but two is the average at that price range. This makes a home of that size ideal for a married couple, a pair of roommates, or a small family. The number of bathrooms available at this price range has a much higher degree of variation. A typical two bedroom home likely has one or possibly two bathrooms, but some might have as many as four. When looking at new real estate, bedrooms and bathrooms are both things you should consider, as getting the right number will help cover your most basic living needs.
Space and Property
Once you have determined your basic living needs, you will likely want to consider how much space you have to grow into your new home. As a general rule of thumb, a $200,000 Alberta home can buy you something that has between 1,000 and 1,500 square feet of indoor living space. This is, again, ideal for a small family or group of two to three roommates living together. When it comes to your outdoor space, you can expect to afford a small- to moderate-sized lot. The exact acreage of your yard will likely depend on how big the house itself is. Larger houses may have smaller lawns, while smaller homes will have more green space on the surrounding lot.
While there may be some exceptions here and there, you can expect $200,000 to buy you a small- to medium-sized home with a yard to match. If you are looking for your first home in the Alberta area or have a small family that doesn't need a large amount of space, you can expect this amount of money to cover your needs very effectively as a whole.