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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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304 138 18 Avenue SE
Mission Calgary T2G 5P9

$385,000
Residential beds: 2 baths: 2.0 1,049 sq. ft. built: 2001

Main Photo: 304 138 18 Avenue SE in Calgary: Mission Apartment for sale : MLS®# A2170016
Photo 1: 304 138 18 Avenue SE in Calgary: Mission Apartment for sale : MLS®# A2170016
Photo 2: 304 138 18 Avenue SE in Calgary: Mission Apartment for sale : MLS®# A2170016
Photo 3: 304 138 18 Avenue SE in Calgary: Mission Apartment for sale : MLS®# A2170016
Photo 4: 304 138 18 Avenue SE in Calgary: Mission Apartment for sale : MLS®# A2170016
Photo 5: 304 138 18 Avenue SE in Calgary: Mission Apartment for sale : MLS®# A2170016
Photo 6: 304 138 18 Avenue SE in Calgary: Mission Apartment for sale : MLS®# A2170016
Photo 7: 304 138 18 Avenue SE in Calgary: Mission Apartment for sale : MLS®# A2170016
Photo 8: 304 138 18 Avenue SE in Calgary: Mission Apartment for sale : MLS®# A2170016
Photo 9: 304 138 18 Avenue SE in Calgary: Mission Apartment for sale : MLS®# A2170016
Photo 10: 304 138 18 Avenue SE in Calgary: Mission Apartment for sale : MLS®# A2170016
Photo 11: 304 138 18 Avenue SE in Calgary: Mission Apartment for sale : MLS®# A2170016
Photo 12: 304 138 18 Avenue SE in Calgary: Mission Apartment for sale : MLS®# A2170016
Photo 13: 304 138 18 Avenue SE in Calgary: Mission Apartment for sale : MLS®# A2170016
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2170016
Bedrooms:
2
Bathrooms:
2
Year Built:
2001
Welcome to your sophisticated urban retreat in the heart of Mission, one of Calgary’s most sought-after neighborhoods. This luxurious 2-bedroom condo, located on the third floor, offers a perfect blend of style, comfort, and convenience, with serene views of downtown from the balcony on the quiet north side of the building, away from the hustle and bustle of traffic. As you step inside, you'll be greeted by a bright and spacious open-concept living area that exudes elegance. The kitchen is a chef’s delight, featuring a breakfast bar, corner pantry, and sleek tile flooring that adds to the modern aesthetic. The adjoining dining and living areas are enhanced by rich hardwood flooring, creating a warm and inviting atmosphere. The living room is the perfect spot to unwind, with a cozy gas fireplace accented by tasteful tile work and a mantle, providing a beautiful focal point. The master suite is a luxurious sanctuary, offering a private 4-piece ensuite with a relaxing soaker tub, ideal for unwinding after a long day. The suite also includes a spacious 3-sided walk-in closet, providing ample storage and organization. The second bedroom is equally spacious and versatile, suitable for guests or a home office. Adjacent to the dining room, a cozy sitting area offers a quiet nook for reading or relaxing, while the nearby 4-piece bathroom serves both guests and the second bedroom. The in-suite laundry room, complete with a stacked washer and dryer, adds convenience and practicality to this well-appointed home. Enjoy the best of urban living in Mission, with trendy cafes, restaurants, shops, and the scenic Elbow River pathways just steps away. This condo is perfect for those seeking a luxurious lifestyle in a prime downtown location. Don't miss the opportunity to make this exceptional property your own!
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:
1,049 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$714.39
Condo Fee Includes:
Common Area Maintenance, Heat, Insurance, Interior Maintenance, 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:
North
Reg. Size:
Reg. Size Includes:
Unit Exposure:
North
Floor Location:
Other
Entry Level:
1
Stories Total:
5
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
7
Year built:
2001 (Age: 23)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
0110143
Electricity:
100 Amp Service
Heating:
Baseboard, In Floor, Fireplace(s), Natural Gas
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Brick, Concrete
Structure Type:
High Rise (5+ stories)
Roof:
Tar/Gravel
Ensuite:
Yes
Flooring:
Carpet, Ceramic Tile, Hardwood
Cooling:
Central Air
Fireplaces:
1
Fireplace Details:
Gas, Living Room, Mantle
Water Supply:
Public
Sewer:
Public Sewer
Utilities:
Cable Internet Access, Cable Connected, Electricity Connected, Natural Gas Connected, Garbage Collection, Sewer Connected, Underground Utilities, Water Connected
Garage:
0
Parking:
Garage Door Opener, Parkade, Titled, Underground
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit, Laundry Room
Condo Fee Frequency:
Monthly
The Legacy
Mission
Bicycle Storage, Elevator(s), Parking
Dishwasher, Electric Range, Microwave Hood Fan, Refrigerator, Washer/Dryer Stacked
See Agent Remarks
None Known
Restrictions, Yes
Floor
Type
Size
Other
Main Floor
Kitchen
13'1" × 8'5"
Main Floor
Dining Room
12'9" × 9'6"
Main Floor
Living Room
15'1" × 9'9"
Main Floor
Office
9'3" × 6'1"
Main Floor
Foyer
10'4" × 5'2"
Main Floor
Laundry
5'8" × 4'9"
Main Floor
Bedroom - Primary
15'8" × 9'11"
Main Floor
Bedroom
13'3" × 12'10"
Floor
Ensuite
Pieces
Other
Main Floor
Yes
4
4'11" x 6'10"
Main Floor
No
4
5'8" x 7'3"
Title to Land:
Fee Simple
Community Features:
Park, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
Breakfast Bar, Closet Organizers, High Ceilings, Laminate Counters, No Smoking Home, Pantry, Recessed Lighting, Storage, Vinyl Windows, 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-H2
Listed Date:
Oct 07, 2024
Days on Mkt:
  • Photo 1: 304 138 18 Avenue SE in Calgary: Mission Apartment for sale : MLS®# A2170016
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  • Photo 2: 304 138 18 Avenue SE in Calgary: Mission Apartment for sale : MLS®# A2170016
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Listed by eXp Realty
Data was last updated November 13, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
37
Avg list price:
$333,000
Min list price:
$199,900
Max list price:
$1,375,000
Avg days on market:
33
Min days on market:
2
Max days on market:
130
Avg price per sq.ft.:
$457.3
These statistics are generated based on the current listing's property type and located in Mission. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706