A deposit is the first financial hurdle a homebuyer needs to clear when buying a pre-construction home.

That deposit is generally five per cent of a home's total value for a purchase of less than $500,000, but it can be as high as 20 per cent for a $1-million-plus home. Those funds are a pre-construction commitment to the builder to take that condo or single-family home off the market. That money also gets put toward your eventual down payment.

A recent change to the Condominium Property Act in Alberta could be good news for condo owners who might otherwise face a huge expense thanks to building damage caused by a problem in their unit.

In late November, city council approved the 2020 adjustments to the One Calgary Service Plans and Budgets, setting out the City's budget for the new year. So, what can homeowners expect from the 2020 budget?

From mortgage stress test relief and red tape reduction to general economic good news and jobs to boost consumer confidence, Calgary's housing industry is cautiously optimistic the recent change in provincial government could help cross a few items off its wish list.

However, that all hinges on the new United Conservative Party (UCP) government following through on its campaign promises.

Condo owners, sellers and buyers will have more information at their fingertips – and it will be less cumbersome and expensive to access – under new provincial guidelines slated to take effect this July.

Homebuilding officials warn proposed governmental power shift could impact homebuyers in a big way

Before Calgarians step into a voting booth to elect a new city council a year from now, there could be a whole new ball game of city governance over everything from land assessments to affordable housing and even new taxing powers.

New city charters originally proposed in 2014, and only recently made available for public feedback, are intended to give new powers and responsibilities to Alberta's two largest municipalities. They may affect Calgarians on everything from residential speed limits and fines, environmental protection, integration of land-use and transportation strategies and investment to civic administrative efficiencies that stretch from council roles to establishment of bylaw tribunals.

And there will almost certainly be changes that impact the homebuilding industry, and ultimately homebuyers.

The City has submitted a $900 million flood repair list to the Alberta Government.

The list of projects has been submitted for provincial funding, but councillors are requesting city administrators categorize the list into musthaves and nice-to-haves.