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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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168 Oaktree Lane SW
Oakridge Calgary T2V 4E4

$329,900
Residential beds: 2 baths: 2.0 505 sq. ft. built: 1975

Main Photo: 168 Oaktree Lane SW in Calgary: Oakridge Semi Detached (Half Duplex) for sale : MLS®# A2164694
Photo 1: 168 Oaktree Lane SW in Calgary: Oakridge Semi Detached (Half Duplex) for sale : MLS®# A2164694
Photo 2: 168 Oaktree Lane SW in Calgary: Oakridge Semi Detached (Half Duplex) for sale : MLS®# A2164694
Photo 3: 168 Oaktree Lane SW in Calgary: Oakridge Semi Detached (Half Duplex) for sale : MLS®# A2164694
Photo 4: 168 Oaktree Lane SW in Calgary: Oakridge Semi Detached (Half Duplex) for sale : MLS®# A2164694
Photo 5: 168 Oaktree Lane SW in Calgary: Oakridge Semi Detached (Half Duplex) for sale : MLS®# A2164694
Photo 6: 168 Oaktree Lane SW in Calgary: Oakridge Semi Detached (Half Duplex) for sale : MLS®# A2164694
Photo 7: 168 Oaktree Lane SW in Calgary: Oakridge Semi Detached (Half Duplex) for sale : MLS®# A2164694
Photo 8: 168 Oaktree Lane SW in Calgary: Oakridge Semi Detached (Half Duplex) for sale : MLS®# A2164694
Photo 9: 168 Oaktree Lane SW in Calgary: Oakridge Semi Detached (Half Duplex) for sale : MLS®# A2164694
Photo 10: 168 Oaktree Lane SW in Calgary: Oakridge Semi Detached (Half Duplex) for sale : MLS®# A2164694
Photo 11: 168 Oaktree Lane SW in Calgary: Oakridge Semi Detached (Half Duplex) for sale : MLS®# A2164694
Photo 12: 168 Oaktree Lane SW in Calgary: Oakridge Semi Detached (Half Duplex) for sale : MLS®# A2164694
Photo 13: 168 Oaktree Lane SW in Calgary: Oakridge Semi Detached (Half Duplex) for sale : MLS®# A2164694
Photo 14: 168 Oaktree Lane SW in Calgary: Oakridge Semi Detached (Half Duplex) for sale : MLS®# A2164694
Photo 15: 168 Oaktree Lane SW in Calgary: Oakridge Semi Detached (Half Duplex) for sale : MLS®# A2164694
Photo 16: 168 Oaktree Lane SW in Calgary: Oakridge Semi Detached (Half Duplex) for sale : MLS®# A2164694
Photo 17: 168 Oaktree Lane SW in Calgary: Oakridge Semi Detached (Half Duplex) for sale : MLS®# A2164694
Photo 18: 168 Oaktree Lane SW in Calgary: Oakridge Semi Detached (Half Duplex) for sale : MLS®# A2164694
Photo 19: 168 Oaktree Lane SW in Calgary: Oakridge Semi Detached (Half Duplex) for sale : MLS®# A2164694
Photo 20: 168 Oaktree Lane SW in Calgary: Oakridge Semi Detached (Half Duplex) for sale : MLS®# A2164694
Photo 21: 168 Oaktree Lane SW in Calgary: Oakridge Semi Detached (Half Duplex) for sale : MLS®# A2164694
Photo 22: 168 Oaktree Lane SW in Calgary: Oakridge Semi Detached (Half Duplex) for sale : MLS®# A2164694
Photo 23: 168 Oaktree Lane SW in Calgary: Oakridge Semi Detached (Half Duplex) for sale : MLS®# A2164694
Photo 24: 168 Oaktree Lane SW in Calgary: Oakridge Semi Detached (Half Duplex) for sale : MLS®# A2164694
Photo 25: 168 Oaktree Lane SW in Calgary: Oakridge Semi Detached (Half Duplex) for sale : MLS®# A2164694
Photo 26: 168 Oaktree Lane SW in Calgary: Oakridge Semi Detached (Half Duplex) for sale : MLS®# A2164694
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2164694
Bedrooms:
2
Bathrooms:
2
Year Built:
1975
Don’t miss out on ONE OF THE BEST UNITS IN THE COMPLEX! This beautifully RENOVATED 2-bedroom with almost 1000 sq ft developed, 2-bathroom duplex offers comfort, style, and convenience. Highlights include 2 PARKING STALLS, CENTRAL A/C, and a PRIVATE FENCED BACKYARD. The main floor showcases stunning 12ft VAULTED WOOD CEILINGS with EXPOSED BEAMS, HARDWOOD flooring, and a WOOD-BURNING FIREPLACE with a STONE ACCENT WALL in the living room. The dining area is spacious, with room for a family-sized table and access to the back deck - perfect for a BBQ and a private sitting area overlooking the backyard and adjacent green space. The RENOVATED KITCHEN features STAINLESS-STEEL APPLIANCES, GRANITE COUNTERTOP, a tile backsplash, and a window with a view of the park. A renovated 4pc bathroom is located on this level. LARGE WINDOWS flood the space with NATURAL LIGHT. The lower level features two bedrooms, including a large master with an EXPOSED BEAM and ample room for a king-sized bed and dressers, as well as a second bedroom with its own 3pc ENSUITE bathroom. A laundry room, updated furnace, new 40 gal HWT, and additional storage complete this floor. This unit features 2 parking stalls near the front entrance and central A/C which is rarely found in this complex. Recent upgrades in this complex include NEW ROOFS, SOFFITS, EAVES, WINDOWS, and front and back doors. Nestled next to a green space, this home offers privacy and direct access to miles of walking paths. The location is ideal, with easy access to shopping, playgrounds, an off-leash dog park, Southland Leisure Center and the Glenmore Reservoir. Close proximity to Stoney Trail and public transportation adds to the convenience. This well-managed, DOG-FRIENDLY complex (with board approval) is perfect for first-time buyers and investors. Don’t miss your chance to see it in person!
Property Type:
Residential
Property Sub Type:
Semi Detached (Half Duplex)
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Bi-Level, Side by Side
Total Living Area:
505 sq. ft.
Main Level Finished Area:
505 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
465 sq. ft.
Taxes:
Tax Assessed Value:
Condo Fee:
$543.43
Condo Fee Includes:
Amenities of HOA/Condo, Insurance, Maintenance Grounds, Parking, Professional Management, Reserve Fund Contributions, 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:
Northwest
Reg. Size:
Reg. Size Includes:
Entry Level:
1
Levels:
One
End Unit:
1 Common Wall
Total Rooms Above Grade:
3
Year built:
1975 (Age: 49)
Bedrooms:
2 (Above Grd: 0)
Bedrooms Above Grade:
0
Bedrooms Below Grade:
2
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
7510584
Heating:
Fireplace(s), Forced Air, Natural Gas
Basement:
Finished, Full
Foundation:
Slab, Wood
New Constr.:
No
Construction Material:
Aluminum Siding, Stucco
Structure Type:
Duplex
Roof:
Membrane, Other
Ensuite:
Yes
Flooring:
Carpet, Hardwood
Cooling:
Central Air
Fireplaces:
1
Fireplace Details:
Living Room, Stone, Wood Burning
Garage:
0
Parking:
Stall
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
Laundry Room, Lower Level
Condo Fee Frequency:
Monthly
Oakridge Village
Oakridge
Park
Central Air Conditioner, Dishwasher, Electric Stove, Microwave Hood Fan, Refrigerator, Washer/Dryer Stacked, Window Coverings
N/A
None Known
Restrictions, Yes
Floor
Type
Size
Other
Main Floor
Living Room
13'4" × 10'10"
Main Floor
Dining Room
9'8" × 7'11"
Main Floor
Kitchen
11'9" × 5'11"
Lower Level
Bedroom - Primary
12'11" × 10'9"
Lower Level
Bedroom
10'9" × 8'5"
Lower Level
Laundry
12'6" × 6'8"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
Lower Level
Yes
3
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Walking/Bike Paths
Interior Features:
Beamed Ceilings, Granite Counters, High Ceilings, No Animal Home, No Smoking Home, Vaulted Ceiling(s), Vinyl Windows
Exterior Features:
Private Yard
Patio And Porch Features:
Balcony(s), Deck
Lot Features:
Back Yard, Backs on to Park/Green Space, No Neighbours Behind
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone S
Zoning:
M-C1
Listed Date:
Sep 12, 2024
Days on Mkt:
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Listed by RE/MAX Landan Real Estate
Data was last updated September 20, 2024 at 04:05 PM (UTC)
Area Statistics
Listings on market:
22
Avg list price:
$699,900
Min list price:
$249,900
Max list price:
$1,400,000
Avg days on market:
8
Min days on market:
1
Max days on market:
56
Avg price per sq.ft.:
$484.27
These statistics are generated based on the current listing's property type and located in Oakridge. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706