Alberta first-time home buyers expect to spend nearly $380,000

CALGARY — First-time buyers in Alberta expect to spend nearly $380,000 on a home, the third highest average in the country, according to a report released Tuesday by BMO.

The First-Time Home Buyer’s report said the average amount Canadians planning to buy their first home in the next five years plan to spend is approximately $300,000, with an average down payment amount of $48,000 (16 per cent).

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