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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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230 Arbour Ridge Park NW
Arbour Lake Calgary T3G 4C6

$833,800
Residential beds: 4 baths: 4.0 1,988 sq. ft. built: 1996

Facade
Photo 1: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 2: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 3: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 4: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 5: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 6: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 7: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 8: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 9: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 10: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 11: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 12: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 13: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 14: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 15: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 16: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 17: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 18: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 19: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 20: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 21: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 22: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 23: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 24: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 25: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 26: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 27: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 28: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 29: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 30: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 31: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 32: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 33: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 34: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 35: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 36: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 37: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 38: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 39: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 40: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 41: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 42: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 43: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 44: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Photo 45: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2170552
Bedrooms:
4
Bathrooms:
4
Year Built:
1996
LEGAL SECONDARY SUITE l WALKOUT BASEMENT|AIRBNB LICENSED| CENTRAL A/C |RECENTLY UPDATEDl THREE LIVING ROOMS l VAULTED LIVING SPACE This is the buy & hold UNICORN...Welcome to your dream home in the sought-after lake community of Arbour Lake, one of Calgary's top neighbourhoods and an awarded Community of the Year! This sought-after walkout showcases over 2700 square feet of perfection! providing the perfect blend of luxury and comfort. This floorplan has a perfect balance of formal and informal spaces that seamlessly transition. Walk through to the chef’s kitchen, which is timeless in design, and for this community, one of the largest kitchens relative to the size of home! The kitchen hosts expansive granite countertops, gas stove, lots of counter & cabinet space and an island perfect for cooking.. there is a walk-thru pantry to bring groceries directly to the kitchen. The kitchen opens onto a dining nook that overlooks your picturesque backyard. From here, access your terrace and enjoy your morning coffee while soaking in the sunrise. Luxurious hardwood in family room and the formal dining room. Ascend upstairs and into your primary retreat, a true haven with a walk-in closet and a four-piece ensuite spa. Your spa features a soaker tub and a stand up shower. The upper has two more generous bedrooms and a four-piece bath and an impressive massive bonus room accented by a vaulted ceiling and gas fireplace. Downstairs, your lower level is a WALKOUT and it is so BRIGHT that feels nothing like a basement at all! The LEGAL WALKOUT BASEMENT SUITE features one spacious bedroom, one full bathroom, full kitchen and laundry room. The huge family room has a gas fireplace as an Independent heating via thermostat for personalized comfort! and there are baseboard heaters as well! This is ideal as a mother-in-law suite, short-term or long-term rental. It used to be rented for $1800/month. This walk-out LEGAL secondary suite can help you qualify for a mortgage. And it is truly a mortgage helper, you won’t feel stressed out by the high mortgage payment any more. There is a SECOND wood deck which encompasses almost the ENTIRE width of the home in the backyard. Your little ones will love the included play structure and your furry friends have enough space to run all day long. Ideally located close to Crowchild Trail and Stoney Trail, The Arbour Lake community has it all: Schools, a pristine lake brimming with rainbow trout, neighborhood parks, spectacular mountain views, and a regional bike and walkway path carved through rolling hills. Swimming, boating, fishing, ice skating, concession stands, community events... As the only lake community in Northwest Calgary, Arbour Lake offers an unparalleled quality of living. As its center lies a pristine ten-acre lake, creating a unique and tranquil environment for its residents. The big-ticket items are already taken care of! Roof (2014), HWT(2015),Furnace &A/C 2019, New Vinly Floor. This one WON'T LAST!
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
Suite - Legal
Home Style:
2 Storey
Total Living Area:
1,988 sq. ft.
Main Level Finished Area:
880 sq. ft.
Upper Level Finished Area:
1,108 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
720 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Frequency:
Annually
HOA Fee Includes:
Lot Area:
4,930 sq. ft.
Lot Frontage:
40'
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:
Southeast
Reg. Size:
Reg. Size Includes:
Unit Exposure:
Southeast
Floor Location:
Top
Levels:
Two
Total Rooms Above Grade:
7
Year built:
1996 (Age: 28)
Bedrooms:
4 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
1
Bathrooms:
4.0 (Full:3, Half:1)
Plan:
9412627
Heating:
Central, Electric, Fireplace(s), Forced Air, Natural Gas
Basement:
Separate/Exterior Entry, Finished, Full, Suite, Walk-Out To Grade
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Vinyl Siding, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Hardwood, Laminate, Vinyl
Cooling:
Central Air
Fireplaces:
2
Fireplace Details:
Gas
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Attached, Driveway
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
Lower Level, Main Level
HOA Fee:
$262.50
Arbour Lake
Beach Access, Boating, Community Gardens, Park, Party Room, Playground, Pool, Recreation Facilities
Built-In Gas Range, Central Air Conditioner, Dishwasher, Electric Range, Garage Control(s), Refrigerator, Washer/Dryer, Window Coverings
NA
Encroachment, Utility Right Of Way
Floor
Type
Size
Other
Main Floor
Kitchen With Eating Area
16'10" × 14'1"
Main Floor
Dining Room
14'1" × 9'6"
Main Floor
Family Room
15'7" × 14'11"
Main Floor
Laundry
10'2" × 6'8"
2nd Floor
Bedroom - Primary
13'4" × 12'5"
2nd Floor
Bedroom
11'6" × 11'
2nd Floor
Bedroom
10'10" × 10'5"
2nd Floor
Bonus Room
16'11" × 15'
2nd Floor
Walk-In Closet
8'3" × 3'11"
Lower Level
Bedroom
11'6" × 11'1"
Lower Level
Family Room
16' × 14'4"
Lower Level
Kitchen
14'3" × 9'2"
Lower Level
Laundry
6'6" × 4'1"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
4'5" x 4'10"
2nd Floor
Yes
4
8'3" x 11'4"
2nd Floor
No
4
4'11" x 9'11"
Lower Level
No
3
6'10" x 9'1"
Title to Land:
Fee Simple
Community Features:
Fishing, Lake, Park, Playground, Schools Nearby, Shopping Nearby, Walking/Bike Paths
Interior Features:
Bookcases, Breakfast Bar, Ceiling Fan(s), Central Vacuum, Granite Counters, High Ceilings, Jetted Tub, Kitchen Island, Open Floorplan, Pantry, Separate Entrance, Storage, Vaulted Ceiling(s), Vinyl Windows, Walk-In Closet(s)
Exterior Features:
Private Yard
Patio And Porch Features:
Patio, Terrace
Lot Features:
Rectangular Lot
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone NW
Zoning:
R-CG
Listed Date:
Oct 04, 2024
Days on Mkt:
  • Photo 1: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
    Facade
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  • Photo 10: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
    Formal Dining Room
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    Mainfloor Laundry Room
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    2pc bathroom
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    High Ceiling Bonus Room
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    Master bedroom
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  • Photo 24: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
    4pc Ensuite Bath
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    Full bathroom
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    Basement Full Kitchen Suite
  • Photo 28: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
    Basement SuiteFireplace
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    Basement Suite Living Room
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    Basement Suite Bedroom
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    Basement Suite Bedroom
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    Basement Suite Full Bathroom
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    Basement Suite Laundry
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    Backyard
  • Photo 36: 230 Arbour Ridge Park NW in Calgary: Arbour Lake Detached for sale : MLS®# A2170552
    Mainfloor Deck
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Listed by Homecare Realty Ltd.
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
26
Avg list price:
$490,885
Min list price:
$309,900
Max list price:
$899,900
Avg days on market:
38
Min days on market:
2
Max days on market:
145
Avg price per sq.ft.:
$381.45
These statistics are generated based on the current listing's property type and located in Arbour Lake. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706