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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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2311 92 Crystal Shores Road
Crystal Shores Okotoks T1S 2M9

$379,500
Residential beds: 2 baths: 2.0 990 sq. ft. built: 2006

Main Photo: 2311 92 Crystal Shores Road: Okotoks Apartment for sale : MLS®# A2165867
Photo 1: 2311 92 Crystal Shores Road: Okotoks Apartment for sale : MLS®# A2165867
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Photo 42: 2311 92 Crystal Shores Road: Okotoks Apartment for sale : MLS®# A2165867
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2165867
Bedrooms:
2
Bathrooms:
2
Year Built:
2006
Beautiful bright and spacious end unit in desirable Mesa complex in Crystal Shores lake community. Ideal location, conveniently close to lake, shopping, parks, walking/bike paths and easy access to Calgary. Functional floor plan featuring 2 bedrooms, 2 full baths, in-suite laundry and storage, tastefully decorated and meticulously maintained. Spacious open kitchen with breakfast bar and adjoining dining area. High ceilings, laminate flooring through main areas. Bright living room with attractive gas fireplace and patio door to large 8 x 14 ft. balcony. Master bedroom features and large walk-through closet with built-in shelving and a 4-piece bathroom. Bedroom #2 is spacious with access to jack-and-jill bathroom. Underground heated parking stall with adjoining 9 ft. wide storage cage. Amenities include clubhouse complex with games room, shuffle board, pool table, lounge/library area, hot tub, sauna, exercise area and of course, lake privileges. Enjoy this outstanding community and stress-free living in this outstanding move-in ready condo.
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Low-Rise(1-4)
Total Living Area:
990 sq. ft.
Main Level Finished Area:
990 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$523.04
Condo Fee Includes:
Caretaker, Common Area Maintenance, Heat, Insurance, Maintenance Grounds, Professional Management, Sewer, Snow Removal, Trash, Water
HOA Fee Frequency:
Annually
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:
East
Reg. Size:
Reg. Size Includes:
Unit Exposure:
East
Floor Location:
Other
Entry Level:
3
Stories Total:
4
Levels:
Single Level Unit
End Unit:
End Unit
Total Rooms Above Grade:
5
Year built:
2006 (Age: 18)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
0614399
Heating:
In Floor
New Constr.:
No
Construction Material:
Stone, Stucco, Wood Frame
Structure Type:
Low Rise (2-4 stories)
Ensuite:
Yes
Flooring:
Carpet, Laminate
Cooling:
None
Fireplaces:
1
Fireplace Details:
Gas
Garage:
0
Parking:
Stall, Underground
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
HOA Fee:
$265.00
Condo Fee Frequency:
Monthly
Mesa
Crystal Shores
Beach Access, Car Wash, Clubhouse, Elevator(s), Fitness Center, Parking, Trash, Visitor Parking
Dishwasher, Electric Stove, Garage Control(s), Microwave Hood Fan, Refrigerator, Washer/Dryer, Window Coverings
garage remote, 2 visitor package tags, 2 key fobs for entrance, 2 key fobs for clubhouse
Pet Restrictions or Board approval Required
Restrictions, Cats OK
Floor
Type
Size
Other
Main Floor
Kitchen
10' × 9'
Main Floor
Dining Room
14' × 9'
Main Floor
Living Room
14'6" × 13'
Main Floor
Bedroom - Primary
12' × 11'
Main Floor
Bedroom
12'6" × 10'
Main Floor
Laundry
6'6" × 4'
Floor
Ensuite
Pieces
Other
Main Floor
Yes
4
5'6" x 8'
Main Floor
No
3
5' x 9'
Title to Land:
Fee Simple
Community Features:
Clubhouse, Golf, Lake, Playground, Schools Nearby, Shopping Nearby, Walking/Bike Paths
Interior Features:
Breakfast Bar, Closet Organizers, No Animal Home, No Smoking Home, Walk-In Closet(s)
Exterior Features:
Balcony
Patio And Porch Features:
None
Num. of Parcels:
0
Region:
Foothills County
Zoning:
NC
Listed Date:
Sep 14, 2024
Days on Mkt:
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Listed by Real Estate Professionals Inc.
Data was last updated September 20, 2024 at 04:05 PM (UTC)
Area Statistics
Listings on market:
109
Avg list price:
$658,500
Min list price:
$265,000
Max list price:
$3,995,000
Avg days on market:
17
Min days on market:
1
Max days on market:
200
Avg price per sq.ft.:
$410.75
These statistics are generated based on the current listing's property type and located in Okotoks. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706