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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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905 525 River Heights Drive
River Song Cochrane T4C 3E3

$494,900
Residential beds: 3 baths: 3.0 1,275 sq. ft. built: 2024

Welcome home!!
Photo 1: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 2: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 3: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 4: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 5: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 6: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 7: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 8: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 9: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 10: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 11: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 12: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 13: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 14: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 15: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 16: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 17: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 18: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 19: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 20: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 21: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 22: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 23: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 24: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 25: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 26: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 27: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 28: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 29: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 30: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 31: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 32: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 33: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 34: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 35: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 36: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 37: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 38: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 39: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Photo 40: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2164764
Bedrooms:
3
Bathrooms:
3
Year Built:
2024
STUNNING NEW BUILD in River Song! This gorgeous townhouse is complete and ready for its new owners— NO WAITING TO BUILD!! Nestled in a prime location and surrounded by the beauty of Cochrane's rolling hills, this beautifully designed home features all the must-have finishes, including sleek white cabinets, a large island, stainless steel appliances, elegant white quartz countertops and trendy lighting! The main floor boasts stunning natural coloured vinyl plank flooring and a separate coffee bar with additional cabinets and pantry space, the perfect way to begin your day! The open-concept layout creates a seamless flow between the living room, kitchen, and dining area, making it ideal for gatherings and entertaining. Upstairs, you’ll find a spacious primary bedroom complete with a walk-in closet and a convenient ensuite 4-piece bathroom. Two additional well-sized bedrooms provide privacy for family members, guests, or can serve as a home office. Finishing off this space is your upper floor bathroom and an upstairs laundry room, making daily chores a breeze! The lower level is unfinished, offering endless possibilities for custom development and your personal touch. Enjoy the comfort of the upgraded central air conditioning- perfect way to keep cool on those hot summer nights! This unit includes two parking stalls right outside your back door, for your ease and convenience. Embrace this location and take a short walk down to the beautiful Bow River, perfect for all your outdoor adventures! River Song offers easy access to Highway 22—the gateway to the Rocky Mountains—and is just 35 minutes from downtown Calgary. With amenities nearby, Bow Valley High School, kilometers of pathways, parks, and the Spray Lakes Recreation Center just up the road, this community has something for everyone. Complete with a New Home Warranty, this townhouse is the entire package- Don’t miss your chance to make it yours—WELCOME HOME!
Property Type:
Residential
Property Sub Type:
Row/Townhouse
Condo Type:
Bare Land Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
2 Storey
Total Living Area:
1,275.09 sq. ft.
Main Level Finished Area:
618.67 sq. ft.
Upper Level Finished Area:
656.42 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
618.67 sq. ft.
Taxes:
Tax Assessed Value:
Condo Fee:
$287.32
Condo Fee Includes:
Common Area Maintenance, Insurance, Maintenance Grounds, Professional Management, Reserve Fund Contributions, Snow Removal, Trash
HOA Fee Includes:
Lot Area:
1,706 sq. ft.
Lot Frontage:
20'⅛"
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:
Northeast
Reg. Size:
Reg. Size Includes:
Unit Exposure:
Northeast
Entry Level:
1
Levels:
Two
End Unit:
2+ Common Walls
Total Rooms Above Grade:
6
Year built:
2024 (Age: 0)
Bedrooms:
3 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
0
Bathrooms:
3.0 (Full:2, Half:1)
Plan:
2311717
Heating:
Forced Air
Basement:
Full, Unfinished
Foundation:
Poured Concrete
Builder:
Renova Homes
New Constr.:
Yes
Construction Material:
Vinyl Siding, Wood Frame
Structure Type:
Four Plex
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Linoleum, Vinyl Plank
Cooling:
Central Air
Fireplaces:
0
Garage:
0
Parking:
Additional Parking, Owned, Rear Drive, Side By Side, Stall
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
Upper Level
Condo Fee Frequency:
Monthly
Z-name Not Listed
River Song
Visitor Parking
Central Air Conditioner, Dishwasher, Electric Range, Humidifier, Microwave Hood Fan, Refrigerator, Washer/Dryer Stacked
N/A
None Known
Yes
Floor
Type
Size
Other
Main Floor
Entrance
5'2" × 4'1"
Main Floor
Kitchen
11'7" × 8'9"
Main Floor
Dining Room
12'10" × 10'11"
Main Floor
Living Room
10'10" × 8'4"
Main Floor
Mud Room
5'5" × 5'3"
Upper Level
Bedroom - Primary
11'3" × 10'6"
Upper Level
Bedroom
10'7" × 9'2"
Upper Level
Bedroom
9'6" × 9'3"
Upper Level
Laundry
3'9" × 3'4"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
5'5" x 5'
Upper Level
No
4
7'11" x 4'11"
Upper Level
Yes
4
7'10" x 4'11"
Title to Land:
Fee Simple
Community Features:
Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
Kitchen Island, No Animal Home, No Smoking Home, Open Floorplan, Pantry, Quartz Counters, Storage, Vinyl Windows, Walk-In Closet(s)
Exterior Features:
Lighting
Patio And Porch Features:
Front Porch
Lot Features:
Back Lane, Fruit Trees/Shrub(s), Few Trees, Lawn, Low Maintenance Landscape, Landscaped, Level, Rectangular Lot
Num. of Parcels:
0
Fencing:
None
Region:
Rocky View County
Zoning:
R-MD
Listed Date:
Sep 13, 2024
Days on Mkt:
  • Photo 1: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
    Welcome home!!
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  • Photo 5: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
    Living Room
  • Photo 6: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
    Virtually Staged
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  • Photo 12: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
    Dining Room
  • Photo 13: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
    Virtually Staged
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  • Photo 16: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
    Main Floor Bathroom
  • Photo 17: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
    Primary Bedroom
  • Photo 18: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
    Virtually Staged
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  • Photo 20: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
    Primary Ensuite Bathroom
  • Photo 21: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
    Primary Walk-In Closet
  • Photo 22: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
    2nd Bedroom
  • Photo 23: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
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  • Photo 25: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
    Upper Floor Bathroom
  • Photo 26: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
    3rd Bathroom
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  • Photo 29: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
    Upper Floor Laundry Room
  • Photo 30: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
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  • Photo 31: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
    Upgraded Central A/C
  • Photo 32: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
    Nearby Pathways
  • Photo 33: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
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  • Photo 34: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
    Gorgeous Bow River-Within Walking Distance.
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  • Photo 37: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
    Spray Lake Rec Cente- Within Walking Distance
  • Photo 38: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
    Bow Valley High School Nearby
  • Photo 39: 905 525 River Heights Drive: Cochrane Row/Townhouse for sale : MLS®# A2164764
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Listed by CIR Realty
Data was last updated November 13, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
188
Avg list price:
$661,950
Min list price:
$249,900
Max list price:
$1,375,000
Avg days on market:
33
Min days on market:
1
Max days on market:
398
Avg price per sq.ft.:
$370.99
These statistics are generated based on the current listing's property type and located in Cochrane. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706