That is the question, but there is no easy answer that's right for everyone

It's an age-old question that still gets hotly debated, particularly by young adults who are determining where they are going to live: should I rent or should I buy?

It's not an easy question to answer, and there are no clear right or wrong answers.

"One of the big things to contemplate is your time focus, because when you do buy a home, it is a long-term commitment. It does involve a five-year mortgage that's amortized over 25 years," said Tim Gensey, a market analyst with Canada Mortgage and Housing Corp. (CMHC) in Calgary. "On the other hand, renting allows you to be a lot more flexible. You have to really consider where you are in your life and what your needs are.

Trevor Gibbs and Melissa Wellingtan doubled their living space with a new Airdrie townhome

Trevor Gibbs and Melissa Wellingtan both love to whip up culinary gems in the kitchen – he loves to cook and she enjoys baking. But with a nine-year-old son, a 17-year-old cat, and the fact that Trevor works from home, space in their 800-square-foot, two-bedroom Airdrie condominium was at a premium. The small space made it hard to move around the home, let alone cook or entertain.

So, in December of last year, the couple started looking for a bigger space with room for the family to grow. They found everything they were looking for, including a state-of-the-art kitchen, at the Gates at Hillcrest in Airdrie, a townhome development by Mattamy Homes.

Tracey Hodgson secured her ideal lock-and-leave lifestyle with a new Inglewood condo

At 55, Tracey Hodgson is on the cusp of retirement. She and her husband are winding down their business commitments (she owns a beauty supply company) and plan to cycle between periods of work and play. They recently purchased a strata-type lake property in Kelowna and a condo in Las Vegas, and have listed their home in Chestermere. Their vision is to float between the two homes. But with three grown children and a grandchild in Calgary, they wanted a touchstone in the city – a place where they could park themselves at the centre of the action while visiting family. They found what they were looking for in the heart of Inglewood at AVLI on Atlantic Avenue, a collection of 64 condominiums, garden terrace designs and live/work townhomes designed by Jeremy Sturgess of Sturgess Architecture.

Putting together your first down payment is all about planning and prioritizing

With changes to mortgage regulations and the Bank of Canada's qualifying rates, buying a first home might be tougher than expected, especially for those already carrying a large amount of debt. Currently, the total cost of a mortgage payment, property tax and utilities must be less than 40 per cent of a borrower's gross income.

"The debt ratio makes a big difference to your purchasing power when buying a home," said Calgary mortgage broker Monika Hägele. "Some people might work really hard, save up five per cent towards their desired home, and then that amount might not even be enough if they are carrying too much debt."

Gardening tips as summer winds down

August in the garden means the harvest is underway, but everything in the garden isn't ready in the same way or on the same day. Here is a primer for garden work this month:

Single-level homes are in high demand among retirees planning for their future

For active senior JoAnn Fetzner, who golfs three times a week and travels widely, one-level, bungalow living was an obvious choice for the rest of her life.

For empty-nester Patti Clarkson, 54, who is easing her way into retirement, her recently purchased bungalow villa will be the perfect "forever home."

For both women, finding a single-level home was a priority – part of their long-term planning for possible mobility issues down the road.

Open houses are still an important tool in the REALTOR®'s arsenal

Open houses remain a valid and valuable way to sell properties, even in this day and age of virtual reality.
While the technological tools available today to give maximum exposure to a listing have made it easier for potential homebuyers to window shop from anywhere, the physical presence of an open house still can't be replaced.

CREB® president David P. Brown says opinions about open houses are often divided. Some REALTORS® love them, while others can't stand them.

"But how we do it has changed a fair bit I believe," said Brown. "Social media has got to be the biggest thing. Before, if we were going to have an open house we might hand deliver a few flyers or something around the neighbourhood – put up some signs and that was it.

"Now, we post it all over."

Opulence, extravagance, and splendour are words typically used to describe homes of the rich and famous. Those words also apply to Calgary with its fair share of what are considered luxury dwellings.

Westman Centre for Real Estate Studies is developing tomorrow's real estate professionals

While interest accruing on a mortgage balance is rarely a welcome sight, the growing interest in the Westman Centre for Real Estate Studies at the University of Calgary is a different story.

Part of the Haskayne School of Business, the Westman Centre was founded in 2012 with $7.6 million in funding from the real estate industry, which included a $5 million endowment from Jay Westman. Its mission is to be a catalyst for the development of real estate professionals and a leading centre of excellence for real estate studies through its teaching, research and community engagement activities.

"Industry saw a need for a program where graduates would have a firm grasp of the real estate sector and the career opportunities it could offer," said Jessica Abt, the centre's director.