As we head into what is traditionally one of the hottest seasons for real estate – with homebuilders launching purchase incentives, promotions, new communities and new showhome models – there is a distinct air of uncertainty due to the outbreak of COVID-19 sweeping the globe.

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.

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.

With plenty of space to run and play, and an envious selection of schools a stone's throw away, the master-planned community of Currie is a perfect fit for families.

If you feel that stairs are overrated and basements are underused, a bungalow might be your ideal home style. Apart from the added convenience single-level living provides for those with mobility issues, bungalows offer flexible living arrangements and definite "aging in place" potential.

In a market flush with oversupply and lingering economic difficulties, condo builders need to stand out from the crowd to reach potential buyers.

While some offer trips to Las Vegas or New York to seal the deal, two of Calgary's longtime builders say the key to success in today's market is good developments with incentives that help a buyer's financial bottom line.

It's not uncommon for those who make the move from the "big city" to the idyllic shores of Lake Chestermere to never look back.

Take, for example, Colleen and Mathew Jones.

Trico Homes recently introduced five new home designs that are garnering interest from a broad spectrum of buyers. The Gems Series, an enclave collection of 80 homes in the established northeast community of Redstone, features innovative architecture and interiors that stand out from the pack.

Just what is a "single-family" home these days? The distinction is getting blurrier, as many families opt for multi-generational homes.