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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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305 723 57 Avenue SW
Windsor Park Calgary T2V 4Z3

$219,900
Residential beds: 1 baths: 1.0 656 sq. ft. built: 1982

Main Photo: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
Photo 1: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
Photo 2: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
Photo 3: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
Photo 4: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
Photo 5: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
Photo 6: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
Photo 7: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
Photo 8: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
Photo 9: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
Photo 10: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
Photo 11: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
Photo 12: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
Photo 13: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
Photo 14: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
Photo 15: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
Photo 16: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
Photo 17: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
Photo 18: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
Photo 19: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
Photo 20: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
Photo 21: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
Photo 22: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
Photo 23: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
Photo 24: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
Photo 25: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2159617
Bedrooms:
1
Bathrooms:
1
Year Built:
1982
Nestled in the serene neighborhood of Windsor Park, this one-bedroom condo represents the pinnacle of comfort and convenience for those aged 40 and above. The unit was recently painted in February 2023 and boasts a series of recent upgrades. The condo's bathroom improvements include a new toilet installed in September 2022 and a tub that has been re-glazed to perfection in February 2023. The kitchen has been enhanced with a new light fixture installed in February 2023, adding a touch of elegance to the culinary space. Appliance upgrades are not short of premium quality, with a stacked washer/dryer set from November 2019, a refrigerator from October 2019, a dishwasher from October 2022, and a new OTR microwave from March 2023. This third-floor home is a sanctuary of peace and natural light, thanks to a good-sized balcony that invites the outdoors in. The unit features a generous living room, ensuite laundry, and a galley style kitchen with ample cupboard space, making it an ideal retreat for relaxation and entertainment. Location is paramount, and this condo does not disappoint. It is situated within walking distance to Chinook Mall, mere minutes from the Chinook LRT station, ensuring that all amenities are within easy reach. Despite its central location, this home remains insulated from the hustle and bustle, offering a quiet escape from the city's throes. Residents will appreciate the elevator, the secure heated underground parking stall and the presence of numerous security cameras throughout the well-maintained building. The addition of a Canada Post mailbox inside each lobby, alongside suite mailboxes, adds another layer of convenience for all. For those seeking a blend of tranquility and accessibility, look no further than this charming apartment in Windsor Park.
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:
655.88 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$399.79
Condo Fee Includes:
Common Area Maintenance, Heat, Insurance, Maintenance Grounds, Parking, 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:
North
Reg. Size:
Reg. Size Includes:
Unit Exposure:
West
Floor Location:
Other
Entry Level:
3
Stories Total:
4
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
5
Year built:
1982 (Age: 42)
Bedrooms:
1 (Above Grd: 1)
Bedrooms Above Grade:
1
Bedrooms Below Grade:
0
Bathrooms:
1.0 (Full:1, Half:0)
Plan:
8211335
Heating:
Baseboard
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Concrete, Stucco, Wood Frame, Wood Siding
Structure Type:
Low Rise (2-4 stories)
Roof:
Membrane
Ensuite:
No
Flooring:
Carpet, Tile
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Assigned, Underground
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
Windsor Point
Windsor Park
Elevator(s), Parking, Recreation Room, Secured Parking
Dishwasher, Electric Range, Garage Control(s), Microwave Hood Fan, Refrigerator, Washer/Dryer Stacked, Window Coverings
None
Adult Living, Pets Not Allowed
No
Floor
Type
Size
Other
Main Floor
Foyer
13'2" × 3'7"
Main Floor
Laundry
4'11" × 4'3"
Main Floor
Kitchen
7'11" × 7'7"
Main Floor
Dining Room
8'1" × 7'8"
Main Floor
Living Room
15'4" × 13'
Main Floor
Bedroom
14'5" × 12'1"
Main Floor
Balcony
13'4" × 4'11"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
4'11" x 7'9"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights
Interior Features:
Central Vacuum, Laminate Counters, No Animal Home, No Smoking Home, Soaking Tub, Vinyl Windows
Exterior Features:
Balcony, Garden
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
M-C2
Listed Date:
Aug 30, 2024
Days on Mkt:
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  • Photo 4: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
    Foyer
  • Photo 5: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
    Kitchen
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  • Photo 10: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
    Open concept Living/Dining room
  • Photo 11: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
    Bedroom
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  • Photo 15: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
    Bathroom
  • Photo 16: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
    Ensuite laundry
  • Photo 17: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
    Balcony
  • Photo 18: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
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  • Photo 19: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
    Mailboxes in the lobby
  • Photo 20: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
    Social/Party room
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  • Photo 23: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
    Underground parking stall
  • Photo 24: 305 723 57 Avenue SW in Calgary: Windsor Park Apartment for sale : MLS®# A2159617
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Listed by Century 21 Bamber Realty LTD.
Data was last updated November 13, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
14
Avg list price:
$305,000
Min list price:
$169,900
Max list price:
$1,195,000
Avg days on market:
46
Min days on market:
1
Max days on market:
118
Avg price per sq.ft.:
$336.2
These statistics are generated based on the current listing's property type and located in Windsor Park. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706