The times they are a-changin': how real estate attitudes & desires differ between generations

Mariah Wilson - Generation Z

Housing situation

Living at home with her parents, while she waits to take occupancy of her new condo.

Housing goals

Wilson recently purchased a one-bedroom condo in the Annex, a new development in vibrant Kensington. She and her partner are excited to move in when the project is completed in late 2020.

"With it being a one bedroom and just 500 square feet, it's great for us as young adults, but there is no way that we could raise a family or even have space for hobbies later on," said Wilson.

Her goal is to pay off the mortgage in five to seven years and then purchase an inner-city bungalow (the couple's forever home), while retaining the Kensington condo as an investment property.

Real estate "must haves"

An inner-city location, close to parks, pathways, the river, public transit and amenities.

"We love communities that are vibrant, and exploring shops, visiting cafes and meeting others in the community," said Wilson.

Thoughts on Calgary real estate

"Unlike Toronto and Vancouver, I think Calgary is a very affordable, large Canadian city for real estate," said Wilson. "That being said, I don't think that there are too many options below $500,000 that satisfy most people's wish lists or needs."

Keith McFarlane and Marie Joelle Fortin-Charron – Millennials

Housing situation

The couple, who met while travelling in Australia – she's from Quebec, he's from Scotland – recently purchased a 720-square-foot, one-bedroom-plus-den condo. Their new home, with beautiful lake and mountain views, is part of the Calligraphy project in Mahogany's amenity-rich Westman Village.

Housing goals

The pair enjoy the lock-and-leave, low-maintenance lifestyle and spend the summers travelling – they are both teachers. Their plan is to stay put for the next few years.

"All in all, it's cheaper, easier to maintain and leaves us plenty of money at the end of the month, but we are not ruling out upsizing to a single-family home at some point down the road," said McFarlane.

Real estate "must haves"

Plenty of amenities on the doorstep, and the access to open space and nature that the suburbs offer.

Thoughts on Calgary real estate

"When we were deciding where we wanted to settle in Canada, we had two main objectives: to be near the mountains and affordability. Calgary met both of those criteria. Particularly in the suburbs, real estate is affordable and there's lots of choice with regards to square footage, style and whether it is a new build or resale," said McFarlane.

Mark Roseneder and Cristina Bellabono – Generation X

Housing situation

The couple and their four children are currently living in a 1,500-square-foot home in Evergreen, while they wait for their new home in Pine Creek to be built.

Housing goals

The couple purchased the four-bedroom, two-storey Pierce model by Sterling Homes in the new community of Pine Creek, located near Spruce Meadows along Calgary's southern edge. They hope to be moved in by August of 2020, just in time for the beginning of the new school year.

"I would expect that we will be in this new house for at least the next 15 years, until all four kids are grown and have left the home," said Roseneder.

Real estate "must haves"

A corner, southwest-facing lot, backing onto a park. Plus, good use of square footage and a suburban location.

Thoughts on Calgary real estate

"In terms of resale homes for a family of six, we felt there wasn't a lot of selection in Calgary in our price range, which resulted in us building with Sterling Homes. We felt that prices on new-build homes have come down over the last couple of years, putting us in a position to be able to afford our dream home," said Roseneder.

Jackie and Michael Bernard – Baby Boomers

Housing situation

This empty-nester couple lives in the home they purchased together 27 years ago, a 1,200-square-foot bungalow on the ridge in the Lynnwood district of the southeast community of Ogden.

Housing goals

As the pair head towards retirement and into their golden years, the focus is paying off their current mortgage.

"We plan to stay put. We talked about downsizing, but we just love our neighbourhood so much and being in a bungalow is so valuable to us," said Jackie Bernard.

"The square footage is perfect, and we enjoy our yard and the proximity to the river."

Real estate "must haves"

Proximity to nature is key, as well as essential amenities, such as grocery stores, banks and other services. As the couple enjoys eating out and hitting the theatre in the city centre, as well as spending time in the mountains, quick and easy access to all the major thoroughfares is also at the top of the list.

Thoughts on Calgary real estate

"We had talked about retiring to B.C., but Calgary is so much more affordable," said Bernard. "Also, for urban baby boomers, Calgary is a great location, with great restaurants and the arts and the mountains so close. It really fits the bill for us."