Buying a home in Alberta. Is it still a good deal?

Posted by Ken Murphy on Tuesday, May 14th, 2019 at 12:00pm.


Buying a home in Alberta.   Is it still a good deal?

Alberta, and Canada for that point is still a great place to buy a home when compared to other parts of the world.


Throughout my past Military career and my many chances to travel the world.  I have had the opportunity to see the best and worst of the real estate market and quality of life offered in many different places.


While there are some great deals in countries like Mexico, Belize and even some locations in Europe.  We have one of the best markets in the world in which to purchase our dream home or just a starter home that will eventually lead us to our dream home purchase.


I recently travelled to Portugal for the second time in 20 years.  It was truly evident that Portugal, Spain and other European countries are still reeling from the devastating world market crash of 2008.


In fact due to many regulatory issues and banking rules.  A lot of the properties that were in the process of being developed back in 2008 are still sitting partially finished or are scheduled to be torn down and destroyed.  What a shame to destroy homes and hotels that have yet to even be visited by tourists or purchase by home buyers.


When you compare what you get dollar for dollar in Canada, to European countries.  We don’t have it that bad after all. We take for granted the great country we live in and often complain about pricied of our cars, fuel and homes.


I rented a car while in Portugal and travelled from the Algarve, to Lisbon, Cintra, and Porto areas.  Although it was a great holiday, i did notice that the price for luxury items was quite high. The average cost of filling a 60 LTR tank of gas was almost $100 euros.   Or around $145 Canadian dollars. And don’t even get me started on parking As a Real estate agent I am often curious how the other parts of the world afford to live. The cost of a LOFT/APARTMENT in Lisbon and Porto.  Was outrageous. An average 400-600 square foot property was on average around $600-900,000 Euros. That is pretty steady across the board when in the bigger cities.


While the average sale price of a home in Lethbridge comes in around $300,000 Dollars.  Less that a third of the cost of Property here.


So we actually have a great opportunity as Canadians to build our wealth and live the good life with some investment in our very stable real estate market, and some good money management.    And of course whenever possible. An early start on getting invested.


So when you are thinking. “Wow that house is expensive”  Consider how we compare to the rest of the world. We still live in one of the greatest places around and have many opportunities that others just don’t have.


Just my thoughts.


If you. Someone you know. Or a family member are considering buying or selling in Lethbridge.  I would love to help you through that process and get you where you need to be. Give me a shout and let’s get you moving.


Ken Murphy

Maxwell Devonshire








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