Moving up to a bigger house in Calgary: sell first or buy first

The short answer on order is that neither choice is right for everyone. Selling first gives certainty about your equity and removes the risk of owning two homes. Buying first gives you room to choose and it needs a financing plan. In Alberta there is no land transfer tax, so the main closing costs are Land Titles registration fees, legal fees and moving costs. This guide covers the order of steps, possession dates, bridge financing and porting in general terms, the insured mortgage price cap, Alberta closing costs and how to judge a larger older house. Mortgage, legal and tax points are general information. Confirm them with a mortgage broker, a lawyer and an accountant.

Why a move-up is two deals in one

A move-up means selling one home and buying another, each with its own contract, deadline and conditions. The two deals depend on each other. The sale proceeds usually fund the down payment and the purchase needs a place to move into on the day you leave.

The common pressure points are:

• Timing. The sale closes before the purchase or the other way around.
• Money. The down payment is tied up until the sale completes.
• Conditions. A condition to sell on one side can weaken your offer on the other.
• Moving. Possession dates do not align exactly.

Planning for those four before you list is what separates a calm move from a rushed one. The sellers page and buyers page each cover one side. This guide joins them. For what your current home might sell for, request a home valuation.

Sell first or buy first

Selling first

When you sell first, you know the sale price, the net proceeds after costs and the mortgage payout before you shop. A strong offer on the next house is easier because you are not asking the seller to wait on your sale.

The trade-off is housing. If your sale closes before you find the next home, you may need a short rental, a stay with family or storage and a flexible possession date. You can reduce the gap by asking the buyer of your home for a longer possession date, which they may or may not accept.

Buying first

When you buy first you choose without a deadline from the sale. The trade-offs are carrying two homes for some period and the need for the financing to allow it. A purchase conditional on selling your current home protects you and sellers may prefer an offer without that condition. How much that matters depends on the market and the home, so it is a conversation for your agent and your mortgage broker.

Doing both together

Some buyers list their home and shop at the same time, with possession dates arranged so one follows the other by a few days. This works when both transactions close on dates that fit. It needs flexibility from both counterparties, so a plan B for the gap is part of the work.

Approach	What helps	What to watch
Sell first	Known proceeds, simpler offers	A possible gap with no home
Buy first	Time to choose	Carrying two homes, financing approval
Both together	Possession dates in sequence	Dependence on two other parties

Possession dates

The possession date is the day you get the keys to the new house or hand them over on the old one. In practice, closing involves your lawyer, the other side’s lawyer and the lenders and funds move on the closing date. Possession is often the same day or the next business day. The dates are in the purchase contract and can be negotiated.

Ways people handle a mismatch:

1. Same-day closing on both. Sale and purchase complete on one date. It is the neatest option and the least forgiving, because a delay on either side affects the other.
2. Overlap. You close on the new home a few days before the old one so you can move in stages. This usually means carrying both for the overlap, which may need bridge financing.
3. Gap. You close on the old home first and have temporary housing before the new one. This costs rent or storage and removes the need to carry two properties.
4. Rent-back. The buyer of your home allows you to stay a few days after closing under a written agreement, so everything is written down.

Whatever the plan, ask your lawyer to write the dates into the contracts and not to rely on verbal agreements. Alberta’s Dower Act also matters when a married person disposes of a homestead: the spouse’s written consent or a court order, is generally required, even if the spouse is not on title. Your lawyer handles that paperwork.

Bridge financing in general terms

Bridge financing is short-term borrowing that fills the gap when money for the new home is needed before the old home’s proceeds arrive. It might be offered by your lender, a different lender or a private lender. Features vary: the amount, the term, the interest rate, the fees and the security required. Because those terms differ so much, this guide does not give figures.

What to ask a mortgage broker or lender:

• Is bridge financing available for my situation?
• What does it cost in total, including fees?
• Do you need the firm sale contract with conditions removed?
• What happens if the sale closes later than planned?

Some people avoid bridge financing by using a home equity line of credit or savings or by lining up closing dates. Each option has its own cost and qualification rules.

Porting a mortgage in general terms

Porting means moving your existing mortgage to the new property, usually keeping the interest rate and remaining term. Whether it is available depends on your mortgage contract and your lender.

Points to check:

• Whether your mortgage is portable and how long you have after the sale to buy.
• Whether the new loan amount is larger than the old balance. A top-up is often at the current rate, which can blend with the existing rate.
• Whether the lender requalifies you on income and the new property.
• What a penalty would be if you do not port.

Porting can protect a rate you like and it can also be restrictive if the new house costs much more. A mortgage broker can compare porting, a blend and a new mortgage. The mortgage calculator shows how payments change with the loan amount.

The insured mortgage price cap

If you put down less than 20 percent, you need mortgage insurance. Under the federal rules that took effect December 15, 2024, the property value must be below $1.5 million. The minimum down payment is 5 percent on the portion of the price up to $500,000 and 10 percent on the portion from $500,000 to $1.5 million. The 30-year amortization on insured mortgages applies to first-time buyers and buyers of new builds, which means a repeat buyer purchasing a resale home should confirm the available amortization with the lender. CMHC’s page also describes a 25-year maximum with 30 years available through CMHC Home Start, so rules can differ between sources and lenders.

Illustration using the published formula: for a $760,000 purchase, the minimum down payment is 5 percent of $500,000 plus 10 percent of $260,000, which is $25,000 plus $26,000 or $51,000. A move-up buyer often has more than this from the sale of the old home. The lender also sets its own qualification rules, which can be stricter than the insurer’s.

CREB reported a September 2026 City of Calgary benchmark of $739,400 for detached homes and $685,200 for semi-detached homes. A benchmark is the price of a typical home, not an average of sales. See Calgary house prices for context.

Alberta closing costs

Alberta has no land transfer tax. The Land Titles Act sets a registration levy of $50 plus $5 for every $5,000 or part of $5,000 of the value of the land, on the transfer and the same formula on the principal amount of a mortgage registered.

Item	How it is worked out	Illustration
Transfer registration	$50 plus $5 per $5,000 or part	$900,000 is 180 units, so $50 plus $900 or $950
Mortgage registration	$50 plus $5 per $5,000 or part of the principal	$600,000 is 120 units, so $50 plus $600 or $650
Extra title	$15 each	One extra title is $15
Legal fees	Set by your lawyer	Ask for a written quote
Title insurance	Set by the insurer	Ask your lawyer

The amounts above are examples of the published formula and not quotes. The registry agent’s service charge is separate and is not covered here. The land title fees calculator will do the arithmetic for your numbers.

On the sale side, expect the mortgage payout, any prepayment penalty, legal fees, real estate commission as agreed in your written service agreement and moving costs. Your agent can prepare a net proceeds sheet before you list so that the down payment on the next house is a known figure.

Property tax on a larger house

Calgary calculates property tax from assessment multiplied by the tax rates. For 2026 the residential rates are 0.0038906 for the City and 0.0027593 for the Province, a total of 0.0066499 per dollar of assessment. Assessment is based on market value on July 1 of the previous year. The bill is mailed in May and is due on the last business day of June.

As an illustration of the published formula, the City reported a median single detached assessment of $706,000 for 2026, which gives $2,746.76 to the City and $1,948.06 to the Province. At the same rates, a house assessed at $1,000,000 would produce $6,649.90 in total. Your own bill depends on your assessment, so use the figure on the assessment notice for the home you are looking at.

The City’s Tax Instalment Payment Plan collects taxes monthly on the first day of each month and is tied to the property. If your mortgage payment already includes property tax, you cannot join it.

Judging a larger older house on condition

Larger and older often go together and the condition of an older home affects cost more than the extra square footage does. Walk through what you can see and then hire a licensed home inspector. Derek spent more than 20 years in residential construction before real estate and points out what he notices on a showing. He is not an inspector, engineer or contractor, so the formal assessment goes to those professionals.

Common items to ask about in an older house:

• Roof. Age, material and any hail repair history. The August 2024 hailstorm produced nearly $2.8 billion in insured losses and more than 130,000 claims according to the Insurance Bureau of Canada, so a roof’s claim history matters. See the hail and roof guide.
• Furnace, water heater and plumbing. Age, type of pipes, any past leaks and who serviced them.
• Electrical. Panel capacity and wiring type, particularly if a basement was finished or a suite added.
• Foundation and drainage. Cracks, lot grading and how water leaves the property.
• Windows and insulation. Age, condition and any sign of moisture.
• Permits. Ask whether finished basements, additions and decks were permitted. Missing permits are a legal and insurance issue for a lawyer and an insurance broker to review.
• Insurance. Ask an insurance broker about coverage and deductibles before you remove conditions.

A larger house also costs more to heat, repair and maintain. Ask the sellers for utility bills and receipts for recent work. If the inspection finds issues, your agent can help you decide between asking for repairs, a price adjustment or walking away.

Choosing where to move

A bigger house can be in your current area or in a different one. Each community has its own housing stock, roads and services and the neighbourhoods index describes them. Communities with their own guides on this site include Tuscany, Evanston, Sage Hill and Cranston and towns such as Airdrie and Okotoks have their own markets. CREB publishes by district, not by community, so ask for recent comparable sales for the specific street.

If you are considering a new build instead of a resale home, see the new construction guide. If a later move to something smaller is part of your plan, the downsizing guide covers that stage. You can start a conversation with Derek on the contact page or read more about Derek.