REALTORS® serving Calgary and area

 

CREB Now Logo

Calgary's trusted source of real estate news, advice and statistics since 1983.

 


Stories Tagged - New Brighton

Nathan Magee stands proudly in front of his newly purchased home after renting for 14 years. Photo by Adrian Shellard / For CREB®Now

May 25, 2017 | Kathleen Renne

Building home equity

A long-time renter transitions into home ownership and begins building tax-free capital gains


Nathan Magee knows a thing or two about renting. Since moving to Calgary in 1999, he has rented apartments, duplexes, houses and rooms in neighbourhoods as disparate as Bridlewood, Marda Loop, Forest Lawn and downtown.


Magee rented for 14 years in Calgary before deciding it was time to buy in 2013.


"What really pushed my wife and I over the edge was a combination of things. We were renting a house in Marda Loop at the time and the place got broken into four times. Plus, the rent was going up to $2,000 a month. That's when we thought, 'Let's get out of here and look at buying,'" recalled Magee.



Connect With Us