You're considering Alberta—where your down payment stretches further than anywhere else in Canada's major cities. No provincial sales tax, minimal land transfer costs, and prices that let you actually get into the detached home market. Here's what makes Alberta different.
Alberta's Affordability Advantage
Compared to Toronto and Vancouver:
- Significantly lower home prices
- No provincial sales tax (GST only on new homes)
- Lower land transfer costs
- Strong job market (especially energy, tech)
- Higher incomes relative to housing costs
Alberta Land Transfer Fees
Unlike Ontario and BC, Alberta charges flat fees plus registration costs rather than percentage-based taxes:
Registration Fees:
Land Title Transfer:
- $50 + $2 per $5,000 of property value
Mortgage Registration:
- $50 + $1.50 per $5,000 of mortgage amount
Example for $500,000 home with $400,000 mortgage:
- Transfer: $50 + (100 × $2) = $250
- Mortgage: $50 + (80 × $1.50) = $170
- Total: ~$420
Compare this to Ontario's ~$6,000+ in land transfer tax on the same property!
Calgary Market Overview
Market Characteristics
- Oil & gas industry influence
- Growing tech sector
- Strong interprovincial migration
- More affordable than Toronto/Vancouver
- Suburban sprawl with some inner-city development
Calgary Neighborhoods
Inner City:
- Kensington, Inglewood, Bridgeland
- Walkable, trendy
- Mix of condos and infills
- Premium pricing for Calgary
Established Suburbs:
- Signal Hill, Varsity, Riverbend
- Mature communities
- Good schools and amenities
- Mid-range pricing
New Suburbs:
- Seton, Livingston, Cornerstone
- New construction options
- More affordable entry
- Growing infrastructure
Calgary vs Edmonton
| <p> | Factor | Calgary | Edmonton |
|---|---|---|---|
| Population | Larger | Smaller | |
| Economy | Energy + Tech | Government + Diverse | |
| Prices | Slightly higher | More affordable | |
| Climate | Warmer, Chinooks | Colder winters | |
| Lifestyle | Mountain access | Northern gateway | </p> |
Edmonton Market Overview
Market Characteristics
- Provincial capital, government jobs
- University of Alberta employment
- More stable than Calgary's energy cycles
- Very affordable by major city standards
- River valley as major amenity
Edmonton Areas
Central:
- Strathcona, Oliver, Downtown
- Urban living options
- Condos and infills
- Arts and culture scene
South:
- Summerside, Ellerslie, Heritage Valley
- New family-friendly suburbs
- Modern amenities
- Affordable new homes
West:
- Glenora, Westmount, Crestwood
- Established upscale areas
- Older character homes
- River valley access
Alberta-Specific Considerations
GST on New Homes
New construction in Alberta includes 5% GST (no PST):
- Applies to new builds and substantially renovated homes
- Builder may include in price or add on top
- Partial rebate available for homes under $450,000
- Factor into your budget
Condo/HOA Considerations
Alberta condos are governed by the Condominium Property Act:
- Reserve fund requirements
- Document review important
- Age restrictions may exist
- Special assessments possible
Rural Properties
Alberta has significant rural property options:
- Acreages near cities
- Recreational properties
- Agricultural land
- Different financing considerations
First-Time Buyer Opportunities
FHSA (Federal)
Particularly valuable in Alberta:
- $8,000/year contributions
- Alberta's lower prices mean faster accumulation relative to home costs
- Combine with RRSP HBP for maximum down payment
RRSP Home Buyers' Plan
- $35,000 withdrawal ($70,000 with spouse)
- Goes further in Alberta's market
- Repay over 15 years
No Provincial First-Time Buyer Rebates
Unlike Ontario and BC, Alberta doesn't have first-time buyer land transfer rebates—but the fees are already very low.
Investment Property in Alberta
Alberta attracts investors for:
- Lower entry prices
- Reasonable rental yields
- Growing population (interprovincial migration)
- Less regulation than BC
Considerations:
- Economic sensitivity to energy prices
- Vacancy rates vary by area
- Property management availability
Closing Costs in Alberta
| <p> | Cost | Typical Amount |
|---|---|---|
| Land title fees | $200 - $500 | |
| Legal fees | $1,200 - $2,000 | |
| Title insurance | $200 - $400 | |
| Home inspection | $400 - $600 | |
| Moving costs | $500 - $2,000 | |
| GST (new homes only) | 5% of purchase | </p> |
Note: Alberta closing costs are among the lowest in Canada.
FAQ
Q: Is Alberta still dependent on oil and gas?
A: The economy is diversifying (tech, agriculture, logistics), but energy remains significant. Consider your employment sector.
Q: Should I buy in Calgary or Edmonton?
A: Depends on your employment, lifestyle preferences, and budget. Edmonton is slightly more affordable; Calgary has mountain access.
Q: Are there first-time buyer incentives in Alberta?
A: Federal programs (FHSA, HBP) apply. Provincial programs are limited compared to other provinces.
Q: What about buying an acreage?
A: Acreages have different financing—often requiring larger down payments and having fewer lender options.
Q: How does Alberta's economy affect real estate?
A: Strongly. Oil price swings impact employment and housing demand. Consider economic diversification trends.
What's Next
Alberta offers affordability that Ontario and BC can't match. Get pre-approved to see how far your money goes in Canada's most affordable major markets.
Ready to Get Started?
Contact us today for personalized mortgage advice and competitive rates.
