In Calgary's competitive rental market, homeowners looking to make a few extra bucks must set themselves apart

Short-term home renting has been going on for decades, but has now become an entrenched part of the economy, and a popular way to generate a bit of extra income, thanks to rental services and facilitators, such as Airbnb, VRBO, Kijiji and property management companies.

When Angela Casale lost a long-term tenant in the Ramsay property where she runs a wellness clinic on the lower floor and has a rental unit upstairs, it meant adjusting to Calgary's competitive rental market.

"There are no renters to be had. Apartment buildings are giving people three free months and TVs and all kinds of things," said Casale.

Things to consider when replacing your refrigerator

Does the inside of your refrigerator have a permanent funky smell? Does the freezer section look like a landscape from the North Pole?

If so, it might be time to buy a new refrigerator.

Sheldon Mahe, an appliance expert at Trail Appliances in Calgary, says anyone upgrading from a 20-year-old refrigerator might be surprised at the new styles and features available with today's models.

Design, comfort and location come together in Simone Carr-Smith's Mount Pleasant duplex

Simone Carr-Smith and her husband, Colin Smith, had a large list of must-haves when it came to finding a new home. The couple had been living in Winston Heights, but with their daughter, two dogs, and Carr-Smith's mom and aunt living with them, the home had become too small for their needs. They wanted a fresh floor plan – one that could comfortably accommodate three generations – and a convenient location in the northwest, close to the inner-city and to high-ranked schools. It also had to appeal to the couple's diverse aesthetic sensibilities, blending both modern and traditional elements. So, when Carr-Smith's cousin, Saville Homes founder Sheldon Appave, mentioned that he was building a duplex in Mount Pleasant, the couple jumped at the chance to partner with him and build their dream home from a blank canvas.

The complicated relationship between millennials and the housing market

When Juliet Burgess, 29, bought her 110-year-old home in Inglewood for the above-list price of $350,000, she says she became the first among her circle of millennial friends to become a homeowner.

"I personally don't know anyone in my age group who owns property," said Burgess, who works in the not-for-profit sector. "We're super lucky to be able to afford to buy.

"I've been saving my whole life, since I was 14. Even with that, my partner's savings and our parents giving us a little bit, we could only put down the minimum for a down payment."

Market sees modest inventory gains, but overall prices inch up 

Sales exhibited stable growth through the first half of the year in the Calgary housing market, but the number of transactions slowed slightly in July compared to last year.

Citywide sales totaled 1,637 units, six per cent below July 2016 levels. Year-to-date sales activity totaled 11,957 units, nine per cent above last year.

"Sales growth exceeded expectations so far this year. Clients were re-entering the market after delaying decisions until there were some signs of economic improvement," said CREB® president David P. Brown.

Making the right decisions during this crucial part of buying a house can set you up for long-term financial success

For anyone buying real estate, arranging a mortgage is a sure sign that you're about to make your dream home a reality.

But with the all the options that are available, how do you find the mortgage that's right for you?

Greg Miller, a mortgage professional with SmartCap Inc. in Calgary, says step one for him is "finding out what are the client's short-term needs and long-term needs, their goals, and what does their budget allow for in terms of a payment?

"After that you can tweak a mortgage to cater it to them."

Major renovations and minor modifications to make any home more accessible and livable for seniors

As Canada's population continues to skew older, more and more seniors want to remain in their homes rather than move into a retirement residence or long-term care facility. This preference for "aging in place" has increased the popularity of several home renovations and modifications that make the home more accessible, and easier to navigate, for older individuals. Here are some of the top aging-in-place renovations.

Calgary is coming together to win the war on homelessness, one home at a time

What a difference a year can make. The City of Calgary launched its affordable housing strategy in July 2016, aiming for a more unified approach to building more housing for low-income individuals and families. Since then, a lot has happened, according to groups that provide housing for low-income Calgarians.

"What we've seen in the first year is a tremendous drive toward increased collaboration and recognition that none of us can go it alone," said Kim O'Brien, CEO of Horizon Housing Society.

The importance of working together in a more co-ordinated fashion cannot be understated because the challenge of providing affordable housing in Calgary is daunting. It's a problem the City, as well as other Canadian municipalities, have been struggling to address for several years – despite the best of intentions.

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."