Let’s be real—renting might feel easy and commitment-free, but owning your own place? That’s next-level adulting. While renting means you’re basically paying someone else’s mortgage, buying a home is an investment in you. It’s about building equity, having creative freedom (yes, you can paint that wall millennial pink), and planting roots in a space that’s truly yours. With more first-time buyers entering the market. According to the 2024 CMHC Mortgage Consumer Survey 55% of homebuyers in 2024 were first-time home-owners, 71% of which were renting prior. 22% of those rented for over 10 years before buying their first home! it’s clear the trend is shifting. Homeownership isn’t just for your parents—it’s for smart, future-focused people like you.
We get it—buying your first home can feel seriously overwhelming. Commitment is scary (we’ve all ghosted a gym membership or two), and the idea of locking into a mortgage? Yikes. As humans, we tend to stick with what we know, and renting feels familiar, flexible, and safe. And hey, maybe now genuinely isn’t your time to jump on the property ladder—and that’s okay. But if you’re on the fence, here are some of the most common fears and hesitations that keep renters from making the leap into homeownership.
It’s cheaper to rent?
We have used an external company to evaluate the rental market in Calgary.* To rent a 3-bedroom apartment in Redstone for example averages at $1975 per month. To purchase our brand new 3-bedroom apartment with the minimum 5% down, you’d be paying approximately $1875 plus fees (covering exterior insurance, snow clearing etc) totaling approximately $2265 per month. If you need to relocate, you could sell up and have equity to bring with you or keep as an investment in a hot rental market.
You are tied to a rental agreement?
9 months left on your lease? This could be just perfect! When you buy a pre-construction home, you can have an approximate move-in date that allows a smooth transition! That deposit refund that you get from your landlord can go towards that sofa you’ve been eyeing up!
I’m spending money with nothing to show for it!
Renting seems to be a bottomless pit with no return on your investment. The ugly truth is that it’s not an investment! The market fluctuates, but even if you sell it for what you bought it for after a few years, unlike renting, you get a chunk of the money you’ve put in back, ready to put towards your next home and stage of life!
The wall paint and carpet are very “dated”!
Your first home doesn’t have to be your forever home but it can be made your perfect space. Funky shelving, wallpapered feature wall or wood panelling. It’s YOUR HOME so you do you with your decor and have nobody to answer to!
I’m enjoying life living with friends!
This is the perfect opportunity! Invest in a 2 or even 3 bed condo, move your friends in with you and put their rent towards your monthly mortgage payment. You could end up paying less than when you were renting!
These are just a few of the benefits of homeownership! Want to learn more about the developments currently available or soon to be released? Check out our communities. Sign up for updates on any StreetSide projects that you’d like to learn more about!
Use our mortgage calculator to see what your mortgage payments could look like.
* Hill Appraisels ltd. – Calgary
