When it comes to homeownership these days, one of the biggest and most talked about issues is affordability. This issue is particularly relevant when it comes to a generation of young Canadians that many people say is struggling to enter the marketplace due to the high costs of owning a home.

However, like anything else in this country, affordability is relative and truly dependent on context. If you're a millennial or a potential first-time homebuyer of any stripe, you're much better off entering the market in Calgary than other major centres like Vancouver or Toronto.

The new southwest community of Hudson in Creekstone makes the most of its spectacular setting – perched on a ridge overlooking the Pine Creek coulee with the Rocky Mountains in the distance.

Dennis Inglis, development manager with Highfield Land Management, says the community's location alongside a protected reserve means its scenic surroundings are here to stay, unlike some new communities where development eventually encroaches on natural lands.

Ten minutes south of Calgary in the town of Okotoks, homebuyers and builders continue to buck the regional trend of declining housing starts.

In fact, the growing town of just over 29,000 people (based on the 2018 civic census) saw an increase in housing starts in 2019 that is expected to continue into 2020, according to the Canada Mortgage and Housing Corporation.

This spring promises to bring changes to both Calgary's natural and built landscapes, as two new developments from Qualico Communities sprout up in some of the most desirable areas of the city.

Together Ambleton in the northwest and Alpine Park (temporary name) in the southwest will see 6,500 to 7,200 new residents and are at various stages of planning and construction approvals, says Clark Piechotta, Qualico's associate director of development.

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.

Does the relaxing tranquility of acreage living have to mean losing the energy and convenience of city life? Not at Aventerra Estates, Rocky View County's newest acreage-living community.

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.

If you think young people are less focused on the housing market than previous generations, you haven't been paying attention. Generation Z, which roughly encompasses everyone born in 1997 or later, is poised to have a massive impact on real estate, in Calgary and beyond.

Some would say the town of Cochrane offers the best of everything. Nestled into the foothills, this picturesque community of just under 30,000 people offers untouched nature, beautiful mountain views and small-town appeal, in addition to a full suite of amenities.

The town's friendly vibe is attracting young families and downsizers alike, and many new communities are stepping up to meet the demand with a variety of innovative home designs.