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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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404 225 25 Avenue SW
Mission Calgary T2S 2V2

$510,000
Residential beds: 2 baths: 2.0 1,066 sq. ft. built: 1984

Main Photo: 404 225 25 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2174786
Photo 1: 404 225 25 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2174786
Photo 2: 404 225 25 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2174786
Photo 3: 404 225 25 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2174786
Photo 4: 404 225 25 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2174786
Photo 5: 404 225 25 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2174786
Photo 6: 404 225 25 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2174786
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Photo 8: 404 225 25 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2174786
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Photo 23: 404 225 25 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2174786
Photo 24: 404 225 25 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2174786
Photo 25: 404 225 25 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2174786
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Photo 30: 404 225 25 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2174786
Photo 31: 404 225 25 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2174786
Photo 32: 404 225 25 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2174786
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2174786
Bedrooms:
2
Bathrooms:
2
Year Built:
1984
This stunningly RENOVATED CORNER UNIT offers a rare opportunity to own in one of Calgary’s trendiest and most desirable neighbourhoods. Renovated top to bottom in 2024, never lived in after the renos. Suite features 2 bedrooms, 2 full bathrooms, and the convenience of underground parking. This home is designed for those seeking both comfort and lifestyle. Step inside to an open-concept layout, where the brand-new kitchen shines with BRAND NEW appliances and quartz countertops with waterfall. The seamless flow between the kitchen, dining, and living areas creates an ideal space for entertaining or relaxing. Enjoy the views and natural light from the expansive windows in the living room, or step out onto the wrap-around balcony to take in the lively atmosphere of Mission and Calgary’s downtown skyline. The primary suite is a private retreat with a walkthrough closet featuring built-in closet, and a newly renovated ensuite with designer finishes. A spacious second bedroom and 4-piece bathroom offer comfort for guests or family. Additional conveniences include a separate laundry room with newer washer and dryer, and extra in-unit storage with custom shelving. This well-maintained building also features a fitness room, outdoor courtyard and secured underground parking stall with storage locker. Just steps from the Elbow River pathways, 4th Street’s bustling shops and restaurants, the Repsol Centre, and Stampede Park, you’ll have the best of Calgary living at your doorstep. With easy access to public transit, top schools, and the downtown core, this is a rare chance to enjoy both luxury and convenience in Mission. Don’t miss your opportunity – book your private viewing today and experience Mission at its finest!
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Apartment
Total Living Area:
1,066 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$768.60
Condo Fee Includes:
Heat, Insurance, Parking, Professional Management, Reserve Fund Contributions, Security Personnel, 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:
Northwest
Floor Location:
Other
Entry Level:
4
Stories Total:
12
Levels:
Single Level Unit
End Unit:
2+ Common Walls, End Unit
Total Rooms Above Grade:
5
Year built:
1984 (Age: 40)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
8410915
Heating:
Baseboard
New Constr.:
No
Construction Material:
Concrete
Structure Type:
High Rise (5+ stories)
Ensuite:
Yes
Flooring:
Tile, Vinyl Plank
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Heated Garage, Parkade, Underground
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit, Laundry Room
Condo Fee Frequency:
Monthly
Riverscape
Mission
Bicycle Storage, Elevator(s), Fitness Center, Parking, Storage
Dishwasher, Electric Stove, Microwave Hood Fan, Refrigerator, Washer/Dryer, Window Coverings
N/A
Pet Restrictions or Board approval Required
Restrictions
Floor
Type
Size
Other
Main Floor
Living Room
16'4" × 15'
Main Floor
Dining Room
9'8" × 8'5"
Main Floor
Kitchen
13'5" × 8'
Main Floor
Laundry
7'8" × 5'3"
Main Floor
Bedroom - Primary
14'5" × 12'3"
Main Floor
Bedroom
11'6" × 10'4"
Floor
Ensuite
Pieces
Other
Main Floor
Yes
4
Main Floor
No
4
Title to Land:
Fee Simple
Community Features:
Schools Nearby, Shopping Nearby, Walking/Bike Paths
Interior Features:
Breakfast Bar, Closet Organizers, Kitchen Island, No Animal Home, No Smoking Home, Open Floorplan, Quartz Counters
Exterior Features:
Balcony, Courtyard
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
M-H2
Listed Date:
Oct 24, 2024
Days on Mkt:
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    Primary Bedroom Virtually Staged
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    Bedroom 2 Virtually Staged
  • Photo 21: 404 225 25 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2174786
    Bedroom 2 Closet Built-ins
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Listed by RE/MAX Complete 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