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How Much You Can Afford When Applying For A Mortgage

In Canada, the minimum down payment requirements can impact how much you can afford when applying for a mortgage. These rules dictate that the minimum down payment must be:

  • 5% of the purchase price for homes up to $500,000
  • 10% of the purchase price for any amount between $500,000 and $1 million
  • 20% of the purchase price for homes over $1 million.

For example, if you have saved $15,000 for a down payment, the maximum home price you can afford would be $300,000 ($15,000 divided by 5%). However, if your down payment was $30,000, your maximum affordability would increase to $550,000. You can use our mortgage affordability calculator to run the numbers yourself and determine what price range would be suitable for your budget. However, some lenders may require a higher down payment depending on your credit score, employment history, and other factors. It's important to speak with a mortgage lender (I can help with this)to get a more accurate estimate of your down payment requirements.(Loanscanada.ca)

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2201 1100 8 Avenue SW
Downtown West End Calgary T2P 3T9

$529,900
Residential beds: 3 baths: 3.0 2,007 sq. ft. built: 1979

Main Photo: 2201 1100 8 Avenue SW in Calgary: Downtown West End Apartment for sale : MLS®# A2173026
Photo 1: 2201 1100 8 Avenue SW in Calgary: Downtown West End Apartment for sale : MLS®# A2173026
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Photo 34: 2201 1100 8 Avenue SW in Calgary: Downtown West End Apartment for sale : MLS®# A2173026
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2173026
Bedrooms:
3
Bathrooms:
3
Year Built:
1979
Welcome to Westmount Place, just steps from the Bow River parks and pathways, and within walking distance to the vibrant Kensington, 17th Avenue, and Stephen Avenue entertainment districts, this home offers the ultimate urban living experience. This expansive three bedroom/two-bedroom plus den apartment spans over 2000 square feet and features a spacious open floor plan with floor-to-ceiling windows that flood the space with natural light and offer breathtaking views of Calgary's iconic skyline. Enjoy modern comforts with central air conditioning, vinyl plank flooring, and a cozy wood-burning fireplace with gas assist. The kitchen is a culinary dream, featuring built in oven and microwave, countertop stove, plenty of gorgeous white cabinets, expansive countertops, S/S appliances and leads to a great sized dining room that is big enough to fit the whole family. The large primary suite boasts its own 3 pce ensuite bathroom. The second bedroom is a good size, providing privacy and convenience for guests. Additional highlights include a handicap-accessible shower, a giant tiled foyer, ample storage, 4 pc bathroom and two underground heated parking stalls. Step outside to one of the two balconies, complete with new pavers, to enjoy unparalleled views of downtown Calgary and the Rocky Mountains. The building's exceptional amenities include a gym, racquet courts, steam room, pool, hot tub, sauna, billiards room, and 24-hour concierge service. Experience luxury living in this remarkable apartment at Westmount Place, where stunning views, modern amenities, and the convenience of downtown living come together to create an unparalleled urban lifestyle.
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
High-Rise (5+)
Total Living Area:
2,007.26 sq. ft.
Main Level Finished Area:
2,007.26 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$1,791.66
Condo Fee Includes:
Heat, Parking, Reserve Fund Contributions, Residential Manager, Snow Removal, Trash, Water
HOA Fee Includes:
Acres Cleared:
Acres Cultivated:
Acres Irrigated:
Acres Leasehold:
Acres Not Cultivated:
Acres Freehold:
Acres Seeded:
Acres Tame Hay:
Acres Treed:
Acres Waste:
Acres Water Rights:
Front Exposure:
Southeast
Reg. Size:
Reg. Size Includes:
Unit Exposure:
Northwest, Southeast, Southwest
Floor Location:
Other
Entry Level:
22
Stories Total:
28
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
8
Year built:
1979 (Age: 45)
Bedrooms:
3 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
0
Bathrooms:
3.0 (Full:2, Half:1)
Plan:
8310969
Heating:
Central, Hot Water, Natural Gas
New Constr.:
No
Construction Material:
Brick, Concrete
Structure Type:
High Rise (5+ stories)
Roof:
Rubber, Tar/Gravel
Ensuite:
Yes
Flooring:
Laminate, Tile
Cooling:
Central Air
Fireplaces:
1
Fireplace Details:
Wood Burning
Garage:
0
Parking:
Stall
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
Westmount Place
Downtown West End
Elevator(s), Fitness Center, Party Room, Pool, Racquet Courts, Recreation Room, Sauna, Spa/Hot Tub, Visitor Parking
Central Air Conditioner, Dishwasher, Electric Stove, Refrigerator, Washer/Dryer, Window Coverings
N/A
Board Approval
Restrictions
Floor
Type
Size
Other
Main Floor
Bedroom
11'10" × 9'6"
Main Floor
Other
6'7" × 5'6"
Main Floor
Dining Room
19'5" × 11'4"
Main Floor
Foyer
7'10" × 6'11"
Main Floor
Kitchen
14'7" × 14'4"
Main Floor
Laundry
8'1" × 6'7"
Main Floor
Living Room
21'2" × 18'8"
Main Floor
Bedroom
11'11" × 10'
Main Floor
Bedroom - Primary
24'3" × 18'10"
Main Floor
Storage
8'5" × 5'
Floor
Ensuite
Pieces
Other
Main Floor
Yes
3
Main Floor
No
4
Main Floor
No
2
Title to Land:
Fee Simple
Community Features:
Shopping Nearby
Interior Features:
Central Vacuum, Open Floorplan
Exterior Features:
Balcony
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
DC
Listed Date:
Oct 16, 2024
Days on Mkt:
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Listed by CIR Realty
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
25
Avg list price:
$384,900
Min list price:
$249,900
Max list price:
$1,199,000
Avg days on market:
57
Min days on market:
2
Max days on market:
153
Avg price per sq.ft.:
$411.41
These statistics are generated based on the current listing's property type and located in Downtown West End. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706