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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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307 930 18 Avenue SW
Lower Mount Royal Calgary T2T 0H1

$419,000
Residential beds: 2 baths: 2.0 1,167 sq. ft. built: 1983

Main Photo: 307 930 18 Avenue SW in Calgary: Lower Mount Royal Apartment for sale : MLS®# A2174296
Photo 1: 307 930 18 Avenue SW in Calgary: Lower Mount Royal Apartment for sale : MLS®# A2174296
Photo 2: 307 930 18 Avenue SW in Calgary: Lower Mount Royal Apartment for sale : MLS®# A2174296
Photo 3: 307 930 18 Avenue SW in Calgary: Lower Mount Royal Apartment for sale : MLS®# A2174296
Photo 4: 307 930 18 Avenue SW in Calgary: Lower Mount Royal Apartment for sale : MLS®# A2174296
Photo 5: 307 930 18 Avenue SW in Calgary: Lower Mount Royal Apartment for sale : MLS®# A2174296
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Photo 20: 307 930 18 Avenue SW in Calgary: Lower Mount Royal Apartment for sale : MLS®# A2174296
Photo 21: 307 930 18 Avenue SW in Calgary: Lower Mount Royal Apartment for sale : MLS®# A2174296
Photo 22: 307 930 18 Avenue SW in Calgary: Lower Mount Royal Apartment for sale : MLS®# A2174296
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2174296
Bedrooms:
2
Bathrooms:
2
Year Built:
1983
You will fall in love with the openness and brightness of this spacious 1167 sq ft 2 Bedroom, 2 full Bath, unit in picturesque Lower Mount Royal. One thing this condo has which is very hard to find downtown is 2 UNDERGROUND PARKING STALLS. You will never have to look for parking in the street and deal with parking tickets, scrape your windshield during the winter or carry your groceries for blocks. Right in your building, you, your spouse or your friends have access to 2 nice warm parking spaces. From the stunning maple hardwood floors throughout, the kitchen with granite countertops, beautiful maple cabinets and stainless steel appliances, massive living room with fireplace to the gorgeous stone floors and tub surround in both bathrooms, nothing has been spared when it comes to functionality and finishing. Both bedrooms are absolutely massive. The primary bedroom features a walk-in closet with a load of closet organizer, drawers and hanging bars to accommodate anyone with an extensive wardrobe. Additionally to this walk-in closet is a 4 pce ensuite with a deep soaker tub. The second bedroom is located on the other side of the living room, which provides each bedroom with ample privacy. The second bedroom, presently used as an office, features a wall to wall built-in closet with sliding door and access to the other 4pce bath which we can call a cheated 2nd ensuite bath. But this is not all. Right in your unit, there is also a large storage space/laundry room which is nicely accessed with a modern barn sliding door to give this condo more uniqueness and a modern look. 1 block from Mount Royal Village, Urban Fare, Best Buy, Canadian Tire, Shoppers Drug Mart, GoodLife Fitness, and vibrant 17th Avenue shopping, restaurants, and lounges. This location can't be beat. It is just a short walk to everything you need and a 10 minute drive to the University of Calgary and Foothills Medical Centre. And finally but not the least, this building does accept your furry friends - 2 small dogs, maximum weight 25 lbs each or 1 medium dog maximum weight 40 lbs will be approved. This amazing condo with an outstanding location is ready for you to call home and enjoy all the festivities that the trendy 17 Ave has to offer during Holiday Season.
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Apartment
Total Living Area:
1,166.6 sq. ft.
Main Level Finished Area:
1,166.6 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$577.20
Condo Fee Includes:
Common Area Maintenance, Heat, Insurance, Interior Maintenance, Maintenance Grounds, Parking, Professional Management, Reserve Fund Contributions, Sewer, Snow Removal, Trash
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:
South
Reg. Size:
Reg. Size Includes:
Unit Exposure:
North
Floor Location:
Other
Entry Level:
3
Stories Total:
4
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
6
Year built:
1983 (Age: 41)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
9111924
Heating:
Hot Water, Natural Gas
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Brick, Vinyl Siding, Wood Frame
Structure Type:
Low Rise (2-4 stories)
Ensuite:
Yes
Flooring:
Hardwood, Slate
Cooling:
None
Fireplaces:
1
Fireplace Details:
Gas, Living Room, Mantle
Garage:
0
Garage Spaces:
2
Parking:
Assigned, Covered, Enclosed, Garage Door Opener, Heated Garage, Parkade, Secured, See Remarks, Underground
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
In Unit, Laundry Room, Main Level
Condo Fee Frequency:
Monthly
Simmering Court
Lower Mount Royal
Elevator(s), Parking
Dishwasher, Electric Stove, Range Hood, Washer/Dryer Stacked, Window Coverings
All shelving throughout the unit, in the storage room, primary bedroom and all closet organizer in primary walk-in closet.
Pet Restrictions or Board approval Required, Pets Allowed
Restrictions, Cats OK, Dogs OK
Floor
Type
Size
Other
Main Floor
Foyer
11'5" × 10'4"
Main Floor
Living Room
16'8" × 14'9"
Main Floor
Dining Room
13' × 10'4"
Main Floor
Kitchen
8'8" × 8'2"
Main Floor
Bedroom - Primary
13'3" × 12'
Main Floor
Bedroom
15'1" × 14'4"
Main Floor
Laundry
8'11" × 6'1"
Main Floor
Walk-In Closet
8'8" × 6'3"
Floor
Ensuite
Pieces
Other
Main Floor
Yes
4
4'10" x 8'8"
Main Floor
No
4
5' x 8'10"
Title to Land:
Fee Simple
Community Features:
Schools Nearby, Shopping Nearby, Street Lights, Walking/Bike Paths
Interior Features:
Breakfast Bar, Closet Organizers, Granite Counters, No Animal Home, No Smoking Home, Open Floorplan, Soaking Tub, Track Lighting, Walk-In Closet(s)
Exterior Features:
Balcony
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
M-C2
Listed Date:
Oct 21, 2024
Days on Mkt:
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Listed by Real Estate Professionals Inc.
Data was last updated November 13, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
27
Avg list price:
$348,000
Min list price:
$183,900
Max list price:
$850,000
Avg days on market:
32
Min days on market:
3
Max days on market:
88
Avg price per sq.ft.:
$406.84
These statistics are generated based on the current listing's property type and located in Lower Mount Royal. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706