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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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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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7D 133 25 Avenue SW
Mission Calgary T2S 0K8

$499,500
Residential beds: 2 baths: 2.0 1,202 sq. ft. built: 1976

Main Photo: 7D 133 25 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2175416
Photo 1: 7D 133 25 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2175416
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Status:
Active
Prop. Type:
Residential
MLS® Num:
A2175416
Bedrooms:
2
Bathrooms:
2
Year Built:
1976
This stunning 2 bed, 2 bath corner unit has recently undergone extensive professional renovations, showcasing over 1,200 sq. ft. of upscale living space. Enjoy an abundance of natural light and breathtaking views of the city skyline from your spacious kitchen, complete with a stylish LED kitchen faucet, a sleek quartz countertop, and a beautiful waterfall backsplash, all enhanced by brand new stainless steel appliances. The oversized peninsula offers ample space for dining and entertaining in style. Retreat to the master suite featuring double sinks in the ensuite, luxurious LED de-fogging mirrors, and a generous walk-in closet, along with a private balcony for your morning coffee. The second bedroom is perfect for guests or as a home office. With flat ceilings, two balconies, and plenty of storage throughout, this unit is designed for modern luxury living. Located in one of Calgary’s most sought-after neighborhoods, you’re just steps away from the vibrant 4th Street shopping and dining district, the scenic Elbow River, The Repsol Centre, and Stampede Park. Benefit from the building’s recent upgrades, including new windows, elevator, and enhanced security systems, as well as a healthy reserve fund that ensures long-term stability. An underground parking stall adds to your convenience. Don’t miss this incredible opportunity to live in a well-maintained building that embodies elegance and luxury in the heart of the city!
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
High-Rise (5+)
Total Living Area:
1,202.41 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$811.14
Condo Fee Includes:
Common Area Maintenance, Gas, Heat, Insurance, Interior Maintenance, Maintenance Grounds, Parking, Professional Management, Reserve Fund Contributions, Residential Manager, 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:
West
Reg. Size:
Reg. Size Includes:
Unit Exposure:
Southeast
Floor Location:
Other
Entry Level:
7
Stories Total:
9
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
7
Year built:
1976 (Age: 48)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
7710616
Heating:
Hot Water
New Constr.:
No
Construction Material:
Concrete
Structure Type:
High Rise (5+ stories)
Ensuite:
Yes
Flooring:
Vinyl Plank
Cooling:
Window Unit(s)
Fireplaces:
0
Garage:
0
Parking:
Underground
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
Hampton Court
Mission
Elevator(s), Party Room, Secured Parking, Visitor Parking
Bar Fridge, Dishwasher, Dryer, Range, Range Hood, Refrigerator, Wall/Window Air Conditioner, Washer
N/A
Adult Living, Pets Not Allowed, Short Term Rentals Not Allowed
No
Floor
Type
Size
Other
Main Floor
Bedroom - Primary
12'8" × 12'2"
Main Floor
Bedroom
12' × 9'10"
Main Floor
Living Room
16'5" × 14'7"
Main Floor
Walk-In Closet
8' × 6'11"
Main Floor
Laundry
7'11" × 6'10"
Main Floor
Foyer
6' × 5'4"
Main Floor
Hall
20'1" × 6'4"
Main Floor
Kitchen
13'2" × 9'4"
Main Floor
Dining Room
13'10" × 8'10"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
4'11" x 7'9"
Main Floor
Yes
4
6'3" x 10'4"
Title to Land:
Fee Simple
Community Features:
Other, Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
Built-in Features, Chandelier, Closet Organizers, Double Vanity, No Animal Home, No Smoking Home, Open Floorplan, Quartz Counters, Recessed Lighting, 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 25, 2024
Days on Mkt:
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Listed by Real Broker
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