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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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707 1020 9 Avenue SE
Inglewood Calgary T2G 0S7

$1,100,000
Residential beds: 3 baths: 3.0 1,666 sq. ft. built: 2020

Main Photo: 707 1020 9 Avenue SE in Calgary: Inglewood Apartment for sale : MLS®# A2149779
Photo 1: 707 1020 9 Avenue SE in Calgary: Inglewood Apartment for sale : MLS®# A2149779
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Photo 34: 707 1020 9 Avenue SE in Calgary: Inglewood Apartment for sale : MLS®# A2149779
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2149779
Bedrooms:
3
Bathrooms:
3
Year Built:
2020
Nestled within the heart of Inglewood, where the Bow River and Elbow River meet, one of Calgary's most sought-after neighbourhoods, is this exquisite 3 bedroom, 2.5 bathroom penthouse at AVLI on Atlantic. Crafted by Sturgess Architecture and adorned with interiors by Jerilynn Wright and Associates, this penthouse offers a grand living experience. The building presents a guest suite, granting easy access to shared garden terraces and outdoor spaces alongside ample heated underground visitor parking. With over 1,600 square feet of luxurious living space, this penthouse redefines upscale living. Upon entry, 24” x 24” bright white tile flooring stretches throughout the open-concept layout and seamlessly unites the kitchen, dining area and the living room, enhanced by floor-to-ceiling windows and Light Tunnels for even more natural light. The kitchen exudes style and functionality, featuring a central island with large-format porcelain counters, bar seating, and a high-end appliance package including an undercounter beverage fridge. Plenty built-in closets and cabinets provide all the storage you need to neatly store all your goods – and then some! Adjacent to the kitchen, the formal dining room is bathing in natural light, and boasts a charming built-in bench with storage, perfect for peaceful reading or quiet contemplation. This wall also can double as a wine-wall to display your very best vintages. Slide open one of many glass doors to the massive South-facing wrap around balcony, boasting beautiful downtown skyline views and outdoor amenities such as outdoor speakers and wall panelling provides a tasteful, finished look with minimalistic concrete exposure. The bright, sunny second and third bedrooms feature floor-to-ceiling windows, ceiling speakers, and well-sized closets with built-in organizers. These two rooms share a full 3-piece bathroom with a fully tiled, walk-in shower enclosed by a 10 mm glass door, and a smart sensor toilet. The primary bedroom, marked by a discreet pocket door, incorporates a 2-way gas fireplace with a wall-mounted porcelain tile mantle, tons of closet space with a built-in dresser, and access to the balcony. The ensuite bathroom, a luxurious retreat, offers a 10mm glass enclosed stand-up steam shower, heated freestanding heated soaker tub, dual vanities, floating mirrors, and a smart sensor toilet. An in-suite laundry with high-end side-by-side Samsung washer/dryer completes this stunning penthouse. Two titled underground parking stalls and an assigned storage locker are included with this property. Located in the idyllic, inner-city community of Inglewood, Avli on Atlantic is mere steps from Lina's Italian Market, renowned dining at The Nash, the inspiring art exhibitions at Esker Foundation, and you are only a block from the Bow River pathway system, making this condo convenient and highly walkable. **2nd Penthouse also available!**
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:
1,666.33 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$1,222.88
Condo Fee Includes:
Common Area Maintenance, Gas, Heat, Insurance, 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:
Southwest
Reg. Size:
Reg. Size Includes:
Unit Exposure:
South
Floor Location:
Top
Entry Level:
7
Stories Total:
7
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
7
Year built:
2020 (Age: 4)
Bedrooms:
3 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
0
Bathrooms:
3.0 (Full:2, Half:1)
Plan:
1912037
Heating:
In Floor
New Constr.:
No
Construction Material:
Aluminum Siding, Concrete, Metal Siding
Structure Type:
High Rise (5+ stories)
Ensuite:
Yes
Flooring:
Laminate, Tile
Cooling:
Central Air
Fireplaces:
2
Fireplace Details:
Double Sided, Gas, Living Room, Primary Bedroom
Garage:
0
Parking:
Secured, Stall, Titled, Underground
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
Z-name Not Listed
Inglewood
Elevator(s), Guest Suite, Roof Deck, Secured Parking, Visitor Parking
Bar Fridge, Built-In Refrigerator, Central Air Conditioner, Dishwasher, Dryer, Electric Oven, Garage Control(s), Gas Range, Washer
N/A
Easement Registered On Title, Underground Utility Right of Way
Call
Floor
Type
Size
Other
Main Floor
Foyer
7'6" × 7'
Main Floor
Living Room
17'5" × 13'8"
Main Floor
Kitchen
18'2" × 13'5"
Main Floor
Dining Room
13'8" × 12'8"
Main Floor
Bedroom - Primary
20'3" × 17'8"
Main Floor
Bedroom
12'9" × 9'9"
Main Floor
Bedroom
12'9" × 10'8"
Floor
Ensuite
Pieces
Other
Main Floor
Yes
5
8'7" x 17'7"
Main Floor
No
2
5'8" x 5'1"
Main Floor
No
3
6'11" x 12'
Title to Land:
Fee Simple
Community Features:
Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
Built-in Features, Kitchen Island, See Remarks
Exterior Features:
None
Patio And Porch Features:
Deck
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
C-COR1 f4.0h22.5
Listed Date:
Jul 15, 2024
Days on Mkt:
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Listed by eXp Realty
Data was last updated November 14, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
28
Avg list price:
$622,450
Min list price:
$305,000
Max list price:
$3,090,000
Avg days on market:
47
Min days on market:
5
Max days on market:
291
Avg price per sq.ft.:
$572.9
These statistics are generated based on the current listing's property type and located in Inglewood. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706