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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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  2. Phone Number: Call me directly at 403.397.3706 with any questions or to schedule viewings.

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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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802 1087 2 Avenue NW
Sunnyside Calgary T2N 5B2

$475,000
Residential beds: 2 baths: 1.0 778 sq. ft. built: 2016

Main Photo: 802 1087 2 Avenue NW in Calgary: Sunnyside Apartment for sale : MLS®# A2171537
Photo 1: 802 1087 2 Avenue NW in Calgary: Sunnyside Apartment for sale : MLS®# A2171537
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Status:
Active
Prop. Type:
Residential
MLS® Num:
A2171537
Bedrooms:
2
Bathrooms:
1
Year Built:
2016
Discover modern living in this charming 2-bedroom, 1-bathroom apartment, built in 2016, nestled in the highly sought-after neighborhoods of Sunnyside and Kensington. This vibrant area is known for its eclectic mix of coffee shops, boutique stores, and delightful restaurants, making it a perfect location for those who enjoy a lively yet comfortable lifestyle. Conveniently situated just a stone's throw from downtown and the Sunnyside Train Station, this apartment offers easy access to the city's core. Nature enthusiasts will appreciate the proximity to the beautiful Riley Park, and endless pathways next to the Bow River perfect for leisurely strolls/rides and outdoor activities. The apartment features an open floor concept that seamlessly integrates the kitchen, dining, and living areas, creating a spacious and inviting atmosphere. The kitchen is equipped with stainless steel appliances, making meal preparation a breeze, while the vinyl flooring adds a touch of contemporary elegance throughout the space. Step outside onto your deck, complete with a natural gas hookup, ideal for barbecues and outdoor relaxation. Enjoy the beautiful rooftop patio, offering breathtaking views of downtown and the Bow River. Whether you’re looking to unwind after a long day or entertain friends, this shared outdoor space is the perfect urban oasis. The unit offers 1 underground parking stall, secure bike storage and additional storage. Enjoy the convenience of being within walking or biking distance to everything you need, from grocery stores and cafes to parks and public transit options. Whether you're a young professional, a couple, someone looking to downsize, or an investor seeking a valuable opportunity, this apartment offers the perfect blend of modern amenities and a prime location. Don't miss the opportunity to make this stylish apartment your new home in the heart of Sunnyside and Kensington.
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:
778 sq. ft.
Main Level Finished Area:
778 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$609.14
Condo Fee Includes:
Common Area Maintenance, Gas, Heat, Insurance, Interior Maintenance, Professional Management, Reserve Fund Contributions, Sewer, Snow Removal, 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:
East
Floor Location:
Top
Entry Level:
8
Stories Total:
8
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
7
Year built:
2016 (Age: 8)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
1.0 (Full:1, Half:0)
Plan:
1611968
Heating:
Baseboard
New Constr.:
No
Construction Material:
Brick, Concrete
Structure Type:
High Rise (5+ stories)
Ensuite:
Yes
Flooring:
Laminate, Tile
Cooling:
Central Air
Fireplaces:
0
Garage:
0
Parking:
Parkade, Underground
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
Lido
Sunnyside (Calgary)
Bicycle Storage, Elevator(s), Roof Deck
Dishwasher, Dryer, Gas Cooktop, Microwave, Oven-Built-In, Refrigerator, Washer, Window Coverings
None
Pet Restrictions or Board approval Required, Short Term Rentals Not Allowed
Yes
Floor
Type
Size
Other
Main Floor
Kitchen
12'11" × 9'11"
Main Floor
Living Room
13' × 10'5"
Main Floor
Dining Room
4' × 4'
Main Floor
Foyer
5'11" × 5'4"
Main Floor
Office
4'6" × 3'
Main Floor
Bedroom - Primary
11'4" × 10'10"
Main Floor
Bedroom
9'2" × 7'
Main Floor
Laundry
5'7" × 5'1"
Floor
Ensuite
Pieces
Other
Main Floor
Yes
4
5'3" x 11'2"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Walking/Bike Paths
Interior Features:
Kitchen Island, No Animal Home, No Smoking Home, Quartz Counters
Exterior Features:
None
Patio And Porch Features:
Deck
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
DC
Listed Date:
Oct 07, 2024
Days on Mkt:
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Listed by Real Broker
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
19
Avg list price:
$549,900
Min list price:
$198,000
Max list price:
$1,499,900
Avg days on market:
43
Min days on market:
6
Max days on market:
160
Avg price per sq.ft.:
$604.64
These statistics are generated based on the current listing's property type and located in Sunnyside. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706