Closing A Pre-Construction Property in Calgary
Hi, my name is Kyle Dovigi and I have helped over 150 people to close on their pre-construction properties in Calgary - including 4 of my own personal properties! Learn from my experience and mistakes! I am here to help, so contact me anytime.
Whether you're a first-time investor or adding to your portfolio, this guide is designed to make the closing process as simple and stress-free, and to protect your investment. I’ll walk you through every step—what to expect, what to prepare, and how to ensure a seamless closing from start to finish.
SECTION 1
Preparing for Closing
SECTION 2
Required for Closing
SECTION 3
30 Days Before Closing
SECTION 4
Closing Week
SECTION 6
Maximizing Your Investment
19) Renting Your Unit
In Alberta, properties are rented by property management companies, not real estate agents like in Ontario & BC. The landlord-tenant laws are also much more balanced with significant differences laws.
20) Rental Guarantee
A Rental Guarantee was a popular incentive that was offered by many developers as part of your purchase and is a great way to make your investment completely hands-off.
21) GST Rebate
When you buy a pre-construction property, you may be eligible for a GST Rebate of up to $6,300.
22) Deficiencies & Warranty
Every new home in Alberta comes with a mandatory 10-year warranty, covering defects in construction and issues that may arise according to a set schedule.
23) Short-Term Rentals
Short-term rentals like Airbnb & VRBO can be lucrative, but they must be licensed, require extra furnishing investments, and are impacted by government policy and external factors–approach with caution.
24) Income & Taxes
Taxes are unavoidable but taking a few steps can significantly lower your income and the taxes you have to pay on your investment property.