NEW CONSTRUCTION HOMES FOR SALE UNDER $300,000 IN CALGARY

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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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  2. Phone Number: Call me directly at 403.397.3706 with any questions or to schedule viewings.

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When contacting me, please ensure to include the property address or MLS® number for the listing you are interested in. I look forward to hearing from you!

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320 5300 48 Street
Downtown Red Deer (Red Deer) Red Deer T4N 7C5

$469,900
Residential beds: 3 baths: 2.0 1,479 sq. ft. built: 2002

Main Photo: 320 5300 48 Street: Red Deer Apartment for sale : MLS®# A2157322
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Status:
Active
Prop. Type:
Residential
MLS® Num:
A2157322
Bedrooms:
3
Bathrooms:
2
Year Built:
2002
If you're looking for convenience, space and comfort, this is the unit and building for you! Located in the 55+ building of Sierra's of Heritage Village, this 3-bedroom unit has almost 1,500 sq ft, of living space and provides ample room to relax and entertain. Once inside the unit, you'll appreciate the 2 hall closets to store all your boots and jackets. Around the corner, the open floorplan is warm and cozy with hardwood floors and modern paint colours. A corner fireplace in the living room is centred between 2 sets of large windows, one being a bay window. You'll have plenty of space for a large sectional. The u-shaped kitchen features white cabinetry and stone countertops. Enjoy your morning coffee on one of the two patios that this southwest corner unit offers, one right off the dining area and the other off the master bedroom. The master bedroom features a luxurious 4-piece ensuite and generous walk-in closet. Right off the living room is the second bedroom which could also be used as an office or craft space. Down the hallway on the opposite side of the unit, is the in-suite laundry with storage, 3 piece bathroom and another bedroom with bay window...the perfect spot for guests to stay! This Sierra's building offers an abundance of amenities including a games room, welcoming entry way, entertaining room with a full kitchen, library, workshop, guest suites, fitness center, crafts room, and a saltwater pool with hot tub. Two titled parking stalls are included, one underground and one outside, as well as an assigned underground storage area. Located near shopping, restaurants, and walking trails, you'll be in the centre of urban living with all the comforts you desire.
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:
1,478.6 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$785.06
Condo Fee Includes:
Cable TV, Common Area Maintenance, Heat, Maintenance Grounds, Professional Management, Reserve Fund Contributions, Sewer, 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:
Northeast
Reg. Size:
Reg. Size Includes:
Unit Exposure:
Southwest
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:
2002 (Age: 22)
Bedrooms:
3 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
0223651
Heating:
Baseboard, Natural Gas
New Constr.:
No
Construction Material:
Brick, Stucco
Structure Type:
Low Rise (2-4 stories)
Ensuite:
Yes
Flooring:
Carpet, Hardwood
Cooling:
Central Air
Fireplaces:
1
Fireplace Details:
Gas, Living Room
Garage:
0
Parking:
Off Street, Parkade, Underground
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
Sierras of Heritage Village
Downtown Red Deer (Red Deer)
Elevator(s), Fitness Center, Guest Suite, Party Room, Pool, Recreation Room, Roof Deck, Secured Parking, Snow Removal, Spa/Hot Tub, Storage, Trash, Visitor Parking, Workshop
Dishwasher, Refrigerator, Stove(s), Washer/Dryer, Window Coverings
Fridge, stove, B/I dishwasher, B/I microwave, washer and dryer, all window coverings, tv in living room.
Adult Living, Pets Not Allowed
No
Floor
Type
Size
Other
Main Floor
Bedroom
13'11" × 10'10"
Main Floor
Bedroom
15'7" × 11'7"
Main Floor
Dining Room
12'9" × 8'5"
Main Floor
Kitchen
17'4" × 13'2"
Main Floor
Living Room
17'4" × 15'2"
Main Floor
Bedroom - Primary
12'10" × 11'8"
Main Floor
Walk-In Closet
8'5" × 6'9"
Floor
Ensuite
Pieces
Other
Main Floor
No
3
10'8" x 4'10"
Main Floor
Yes
4
7'11" x 7'6"
Title to Land:
Fee Simple
Community Features:
Shopping Nearby, Sidewalks, Street Lights
Interior Features:
Breakfast Bar, See Remarks, Storage
Exterior Features:
Balcony
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Region:
Red Deer
Zoning:
DC(6)
Listed Date:
Aug 30, 2024
Days on Mkt:
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Virtual Tour

Virtual Tour

Listed by RE/MAX real estate central alberta
Data was last updated November 10, 2024 at 02:05 PM (UTC)
Area Statistics
Listings on market:
212
Avg list price:
$472,450
Min list price:
$79,900
Max list price:
$2,200,000
Avg days on market:
36
Min days on market:
1
Max days on market:
293
Avg price per sq.ft.:
$324.84
These statistics are generated based on the current listing's property type and located in Red Deer. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706