Buying vs Renting (rentals, house prices, living in)

[Street Medic]

My wife, dog and I are thinking of moving to calgary. We currently have a house in Montreal, and we are wondering if we are better off, selling our house and using this to buy a house in Calgary or surrounding areas, or are we better renting for a year first to make sure the move is permanent. I understand it really depends on each persons situation, but what do you suggest?

[TiredOfyycCold]

half a dozen of one... six of the other...LOL

Renting AND buying in Calgary are both challenging and expensive and, from all reports, will only become more so for the rest of this year.

If it were me and I was unsure whether I wanted to permanently relocate to Calgary AND I actually didn't mind living in Montreal.... I would rent out my house in Montreal and find a rental property in Calgary.

If it were me and I actually DIDN'T like living in Montreal... I would just sell while the market is high in Montreal and be done with it... before the separatist threat sends property prices down.

If you decide to sell, it doesn't mean you decide to buy in Calgary... you could just invest the cash in a very "low risk" investment until you have ample time to decide whether Calgary is a place you would like to live. That being said... house prices here continue to rise so while you are sitting on the sidelines the "average" home price may increase 3-5% by this time next year. Bet you wish you had a crystal ball?

No easy answer and the fact that you have a dog unfortunately may make finding a rental property even more challenging....

Good Luck!

[Street Medic]

Thanks for the helpful reply. I'll run it by my wife and see what we decide

[GM10]

Originally Posted by TiredOfyycCold

No easy answer and the fact that you have a dog unfortunately may make finding a rental property even more challenging....

Good Luck!

There are plenty of pet-friendly rental properties in Calgary...

[TiredOfyycCold]

Originally Posted by GM10

There are plenty of pet-friendly rental properties in Calgary...

Hahahaha - that's a good one. Plenty???

The OVERALL vacancy rate is 1%..... exclude those that don't accept dogs and it's lower than 1%. Plenty is not exactly accurate. Obviously there are rentals that accept dogs - but using the word "plenty" is a touch mis-leading as there aren't even plenty of rental properties!

If you would like to see what's available try an advanced search on rentfaster.ca
The bulk of available rentals are on this site - it's not TOTALLY comprehensive, but it's definitely the most popular site to find a rental property. I did an advanced search with the following parameters:
Area: ALL (this includes metro Calgary as well as pretty much all of the small towns within a 45 minute drive to Calgary)
Monthly rent range: 0-$1500
Pets: Dogs allowed

And the grand total of available properties?? 25

Most of these are out of town or in what I would consider HIGHLY undesirable locations (Marlborough, Forest Lawn, etc).

Just an unfortunate reality. It doesn't mean the OP won't find a property to rent, it just means... as I originally said... that it will be challenging.