How Do I Calculate My True Home Equity Before Buying and Selling in Calgary in 2026?
Posted by Jared Chamberlain on
How Do I Calculate My True Home Equity Before Buying and Selling in Calgary in 2026?
Your true net equity is your home's estimated sale price minus your mortgage balance, minus all selling costs, including realtor commissions (typically 7% on the first $100,000 and 3% on the remaining balance), legal fees (around $2,000), and preparation costs like painting or staging ($4,000-$8,000). This real number is usually $30,000-$50,000 less than most homeowners calculate.
Most Calgary families upgrading their homes make the same expensive mistake. They calculate their equity as simply their home value minus mortgage balance, not realizing this fantasy number can cost them tens of thousands of dollars when they actually try to move.
After 20 years of…
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