Rent to Own a Home in Airdrie, Alberta

Airdrie, located just a short drive away from Calgary, is quickly becoming a popular destination for families looking to settle into a new home. With a growing population of around 85,000, Airdrie is appealing for both families and young professionals looking to grow. The community features great schools, beautiful parks, and a wide range of recreational activities and small-town amenities. 

Rent to own in Airdrie is becoming popular since it provides an affordable path to homeownership in a strong housing market, allowing renters to become homeowners.

View the latest rent-to-own properties in Airdrie.

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Real Estate Trends in Airdrie, Alberta

Leduc's relatively lower home prices compared to other major cities in Alberta, combined with its growing housing market, make it an attractive location for potential homeowners to settle down. The housing market is increasing steadily, as the town’s population continues to grow.

In June 2024, the average home price in Airdrie was around $535,000. Detached homes averaged $643,619 while townhouse prices averaged $428,339.

For example, let’s compare the housing market in Airdrie to the housing market in Calgary. In June 2024, the average home price in Calgary was $608,415. This makes Airdrie a much more affordable option for families seeking housing they can afford, while still enjoying the access to major urban cities, unique amenities, and diverse employment opportunities.

Transportation

Located north of Calgary, Airdrie offers a quick commute to the large city's employment opportunities and urban amenities. The main route connecting Airdrie to Calgary is the Queen Elizabeth II Highway, also connecting Airdrie with the rest of Alberta. Airdrie provides several public transit options as well. Airdrie has its own local bus services, and additionally has an Express Bus connecting Airdrie to Calgary's transit stations.

The accessibility to a major city like Calgary and different transportation options makes Airdrie a practical choice for commuters and anyone looking to experience more urban amenities.

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Economy

Airdrie's economy is diverse and continuing to grow, driven by several major industries including retail and services, construction, and transportation and logistics. Its close proximity to Calgary improves its economic prospects, with many businesses and residents benefiting from the larger city.

Construction also plays a significant role, driven by continuing residential and commercial development projects. The job market in Airdrie is also expanding, reflecting the town’s overall growth. Employment opportunities are available in both Airdrie and Calgary, and continued development is expected to further boost local employment and business opportunities.

Education

Airdrie provides a strong educational system with a range of institutions from elementary to high school. Notable schools include Ralph McCall School and École Edwards Elementary School. 

Residents of Airdrie benefit from Calgary’s excellent options for post-secondary education, including the University of Calgary, Mount Royal University, and the Southern Alberta Institute of Technology. This close proximity ensures access to high-quality post-secondary education while still allowing families to enjoy Airdrie’s small and tight-knit community atmosphere.

How to Buy a Home in Airdrie?

When it comes to buying a home in Airdrie, there are two main options available: traditional mortgages and rent-to-own programs.

The typical home-buying method involves obtaining a mortgage, where the buyer gets a loan from a bank to finance the home purchase. However, this process usually requires you to save for a large down payment, often 20% or more of the home's price, and a strong credit score to secure favorable interest rates.

An alternative option is rent-to-own, also referred to as lease-to-own. So, how does lease-to-own work? This arrangement allows a prospective homeowner to move into their chosen property with a significantly smaller down payment, while also saving up for the future purchase of the home. Rent-to-own can be advantageous for individuals who might not have the financial resources or high enough credit score needed for a mortgage.

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What is Rent to Own in Airdrie?

Rent-to-own is a program designed to help you buy a home if you're unable to secure a traditional mortgage. With Requity Homes, rent-to-own enables you to start renting your dream home for 2-3 years before purchasing it at a set price, determined at the start of the rent-to-own agreement. A portion of your monthly rent is saved towards the final purchase price, allowing you to start saving while you enjoy living in your dream home.

Rent-to-own in Airdrie offers families a perfect chance to experience the community they want to join before making a long-term investment commitment.

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How Does Rent to Own Work in Airdrie?

1. Estimate your budget: Calculate how much you can afford to rent-to-own with the rent to own program using Rent-to-Own Calculators. 
2. Get pre-qualified: Apply online to see if you’re eligible for rent to own. It's free and won't affect your credit score. In fact, rent-to-own may help you build credit.
3. Get approved: Submit the required documents to get your application approved, and then receive a personalized budget.
4. Find your dream home: Choose the house you'd like Requity Homes to purchase. Browse rent to own listings.
5. Requity Homes purchases the house: Requity Homes purchases the house for you and covers closing costs, including land transfer tax and legal fees.
6. Move in and start saving: Rent your dream home from Requity Homes, while part of your monthly rent payments are saved towards your future down payment and purchase of the home.
7. Buy your home: When you're ready for a mortgage (typically after 2-3 years), buy the home from Requity Homes at the predetermined price.

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The Benefits of Rent to Own a Home in Airdrie

With a population of around 85,000, the town has continued to grow steadily all around. The community is welcoming and tight-knit, perfect for families and young professionals looking for a place to settle down.

With housing prices increasing, it is very difficult to save for a down payment for a home while renting. Wouldn’t it be nice to find an affordable house you love and lock in the value until you are ready to take on a mortgage?

Let’s say that you have found the perfect home in Airdrie for $535,000.  

You have two options:

Rent for Two Years Then Purchase the Home

Using a base formula of 10% appreciation annually, your $535,000 Airdrie home would be valued at roughly $647,000 after two years.  

Rent to Own with Requity Homes

Requity Homes offers a low price increase per year, at only 5%, much lower than the average growth rate. This means that when you choose to rent to own in Airdrie, you can lock in the price of your new home and know exactly what it will be worth in two years. 

For example, with Requity Homes, a growth rate of 5% means that you can buy your new home in two years for $590,000 instead of $647,000, a savings of $57,000. 

Renting to own with Requity Homes is here to help get you and your family into your dream home in Airdrie as soon as possible while saving you tons of money in the process. 

Find your dream home and become a homeowner sooner than you could have ever thought when you rent to own in Airdrie with Requity Homes.