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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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2 2412 24A Street SW
Richmond Calgary T3E 1V9

$675,000
Residential beds: 3 baths: 4.0 1,390 sq. ft. built: 2020

Main Photo: 2 2412 24A Street SW in Calgary: Richmond Row/Townhouse for sale : MLS®# A2174322
Photo 1: 2 2412 24A Street SW in Calgary: Richmond Row/Townhouse for sale : MLS®# A2174322
Photo 2: 2 2412 24A Street SW in Calgary: Richmond Row/Townhouse for sale : MLS®# A2174322
Photo 3: 2 2412 24A Street SW in Calgary: Richmond Row/Townhouse for sale : MLS®# A2174322
Photo 4: 2 2412 24A Street SW in Calgary: Richmond Row/Townhouse for sale : MLS®# A2174322
Photo 5: 2 2412 24A Street SW in Calgary: Richmond Row/Townhouse for sale : MLS®# A2174322
Photo 6: 2 2412 24A Street SW in Calgary: Richmond Row/Townhouse for sale : MLS®# A2174322
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Photo 42: 2 2412 24A Street SW in Calgary: Richmond Row/Townhouse for sale : MLS®# A2174322
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2174322
Bedrooms:
3
Bathrooms:
4
Year Built:
2020
Welcome to this beautiful townhouse in the highly desirable community of Richmond, let come to experience the living in a perfectly blend of Luxuries, top qualities and the conveniences of Inner city. The meticulous designs and premium built qualities are evident throughout the house with numerous professional finished selections, built-ins and thoughtful upgrades. This lovely townhouse has been impeccably maintained and in practically NEW condition. The main floor opens up with HIGH ceiling throughout and brighten up with natural light from BIG windows. The foyer adjoining the cozy living room with slimline marble front GAS Fireplace and beautiful Wide plank engineered hard wood, transitioning to the family dinning room with large window and the DREAM chef's Kitchen with gigantic Quartz countertop Island, all premium Stainless Steel Appliances with beautiful white ceramic backflash and premium wood cabinets stretching from floor to ceiling. A 2-piece bathroom completes the main floor. The meticulously inspired designs translate into the upper Primary bedroom with a 5-piece ensuite with HEATED floor, double vanities, free standing tub and shower room with rainfall showerhead. A spacious, bright second bedroom with a 4-piece ensuite and the laundry room complete the upper level. The finished basement with HIGH ceiling comprise a Huge rec-room with a Wet Bar, a large bedroom, a full 4-piece Bathroom, the Storage and Utility room. The back yard offers a concrete Patio with BBQ gas line , a small Garden/Flower bed and a shared double detached garage opening into the Paved back lane.
Property Type:
Residential
Property Sub Type:
Row/Townhouse
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
2 Storey
Total Living Area:
1,390.09 sq. ft.
Main Level Finished Area:
671.7 sq. ft.
Upper Level Finished Area:
718.39 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
625.82 sq. ft.
Taxes:
Tax Assessed Value:
Condo Fee:
$300.00
Condo Fee Includes:
Insurance, Reserve Fund Contributions
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:
West
Floor Location:
Below Grade
Entry Level:
1
Levels:
Two
End Unit:
2+ Common Walls
Total Rooms Above Grade:
5
Year built:
2020 (Age: 4)
Bedrooms:
3 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
1
Bathrooms:
4.0 (Full:3, Half:1)
Plan:
2110272
Heating:
Forced Air, Natural Gas
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Stucco
Structure Type:
Four Plex
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Ceramic Tile, Hardwood
Cooling:
Central Air
Fireplaces:
1
Fireplace Details:
Gas, Living Room, Marble
Garage:
1
Garage Spaces:
1
Parking:
Garage Door Opener, Garage Faces Rear, Single Garage Detached
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
Upper Level
Condo Fee Frequency:
Monthly
Z-name Not Listed
Richmond
None
Central Air Conditioner, Dishwasher, Garage Control(s), Gas Stove, Microwave, Range Hood, Refrigerator, Washer/Dryer
N/A
None Known
Yes
Floor
Type
Size
Other
Main Floor
Living Room
20'9" × 13'9"
Main Floor
Dining Room
13'7" × 10'5"
Main Floor
Kitchen
15'1" × 9'2"
2nd Floor
Bedroom - Primary
13'5" × 11'11"
2nd Floor
Bedroom
14'10" × 11'
2nd Floor
Laundry
8' × 5'10"
2nd Floor
Walk-In Closet
11'8" × 6'4"
Basement
Bedroom
13'10" × 10'11"
Basement
Game Room
22' × 10'8"
Basement
Other
5'2" × 4'11"
Basement
Furnace/Utility Room
9'4" × 8'3"
Basement
Walk-In Closet
10'11" × 4'11"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
4'11" x 5'9"
2nd Floor
Yes
5
8' x 12'6"
2nd Floor
Yes
4
4'11" x 8'7"
Basement
No
4
4'10" x 7'6"
Title to Land:
Fee Simple
Community Features:
Golf, Park, Playground, Pool, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
Breakfast Bar, Built-in Features, Closet Organizers, Double Vanity, High Ceilings, No Smoking Home, Open Floorplan, Recessed Lighting, Soaking Tub, Stone Counters, Vaulted Ceiling(s), Walk-In Closet(s), Wet Bar
Exterior Features:
BBQ gas line, Private Entrance, Private Yard
Patio And Porch Features:
Patio
Lot Features:
Back Lane, Landscaped, Level, Rectangular Lot
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
M-CG
Listed Date:
Oct 21, 2024
Days on Mkt:
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Listed by Real Estate Professionals Inc.
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
25
Avg list price:
$999,900
Min list price:
$349,900
Max list price:
$2,299,900
Avg days on market:
53
Min days on market:
1
Max days on market:
118
Avg price per sq.ft.:
$525.62
These statistics are generated based on the current listing's property type and located in Richmond. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706