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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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8510 47 Avenue NW
Bowness Calgary T3B 1Z9

$869,000
Residential beds: 4 baths: 4.0 1,951 sq. ft. built: 2023

Main Photo: 8510 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2175074
Photo 1: 8510 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2175074
Photo 2: 8510 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2175074
Photo 3: 8510 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2175074
Photo 4: 8510 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2175074
Photo 5: 8510 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2175074
Photo 6: 8510 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2175074
Photo 7: 8510 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2175074
Photo 8: 8510 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2175074
Photo 9: 8510 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2175074
Photo 10: 8510 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2175074
Photo 11: 8510 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2175074
Photo 12: 8510 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2175074
Photo 13: 8510 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2175074
Photo 14: 8510 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2175074
Photo 15: 8510 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2175074
Photo 16: 8510 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2175074
Photo 17: 8510 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2175074
Photo 18: 8510 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2175074
Photo 19: 8510 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2175074
Photo 20: 8510 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2175074
Photo 21: 8510 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2175074
Photo 22: 8510 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2175074
Photo 23: 8510 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2175074
Photo 24: 8510 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2175074
Photo 25: 8510 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2175074
Photo 26: 8510 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2175074
Photo 27: 8510 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2175074
Photo 28: 8510 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2175074
Photo 29: 8510 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2175074
Photo 30: 8510 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2175074
Photo 31: 8510 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2175074
Photo 32: 8510 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2175074
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2175074
Bedrooms:
4
Bathrooms:
4
Year Built:
2023
Welcome to your dream home in the heart of west side Bowness! This stunning custom-built semi-detached infill seamlessly combines modern luxury with thoughtful design, featuring four spacious bedrooms and three and a half exquisitely appointed bathrooms. With over 2,700 sqft of developed living space, this home is a true masterpiece. As you step inside, you’ll be captivated by a striking custom LED feature wall that sets the tone for the open floor plan. The sun-drenched dining room connects seamlessly to the chef’s kitchen, which boasts a premium stainless steel appliance package and an expansive 10-foot quartz island—ideal for family gatherings and casual dining. From the kitchen, you’ll move seamlessly to the spacious living room, enhanced by soaring 9-foot ceilings, electric fireplace and sliding glass door, which opens up to a large deck. It creates the perfect space for entertaining both indoors and outdoors. Upstairs, you’ll discover 2 generously sized bedrooms, a full-sized laundry room with a sink, and a luxurious owner’s suite that offers a personal retreat. Indulge in the spa-like 5-piece en-suite, complete with heated floors, a large walk-in custom shower, soaker tub, and a spacious walk-in closet. The fully developed lower level enhances your living space with 9-foot ceilings, a fourth bedroom, a large games/family room, a 3-piece bathroom, and a wet bar—perfect for cozy movie nights and entertaining guests. This prime inner-city location places you mere steps from the Bow River and its scenic pathways, with off-leash areas for your pets just blocks away. You’re also only 5 minutes from two hospitals and the University of Calgary, with quick access to Stoney Trail, making trips to the Rocky Mountains effortless. With convenient shopping options like Superstore, Trinity Hills, and the Greenwich Farmer's Market nearby, along with a swift commute to downtown, this home truly offers the pinnacle of modern living in an unbeatable location. Call to book your showing today!
Property Type:
Residential
Property Sub Type:
Semi Detached (Half Duplex)
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
2 Storey, Side by Side
Total Living Area:
1,951 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
6,006 sq. ft.
Lot Frontage:
25'
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:
South
Reg. Size:
Reg. Size Includes:
Entry Level:
1
Levels:
Two
End Unit:
1 Common Wall
Total Rooms Above Grade:
6
Year built:
2023 (Age: 1)
Bedrooms:
4 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
1
Bathrooms:
4.0 (Full:3, Half:1)
Plan:
2660AP
Heating:
Forced Air
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
Yes
Construction Material:
Wood Frame
Structure Type:
Duplex
Roof:
Asphalt
Ensuite:
Yes
Flooring:
Carpet, Ceramic Tile, Hardwood
Cooling:
Rough-In
Fireplaces:
1
Fireplace Details:
Electric
Garage:
1
Garage Spaces:
2
Parking:
Alley Access, Double Garage Detached
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
Upper Level
Bowness
ENERGY STAR Qualified Dishwasher, ENERGY STAR Qualified Dryer, ENERGY STAR Qualified Refrigerator, ENERGY STAR Qualified Washer, Gas Cooktop, Microwave, Oven-Built-In
N/A
None Known
Floor
Type
Size
Other
Main Floor
Dining Room
12'11" × 8'10"
Main Floor
Living Room
15'9" × 15'5"
Main Floor
Kitchen
18'6" × 15'9"
Main Floor
Mud Room
11'9" × 5'6"
Upper Level
Bedroom - Primary
18'1" × 12'11"
Upper Level
Bedroom
15' × 11'
Upper Level
Bedroom
15' × 10'5"
Upper Level
Walk-In Closet
9'4" × 5'
Upper Level
Laundry
6'11" × 5'
Basement
Family Room
30'2" × 18'11"
Basement
Bedroom
13'6" × 11'8"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
4'8" x 5'6"
Upper Level
Yes
5
18'9" x 8'9"
Upper Level
No
4
5' x 9'4"
Basement
No
3
5'3" x 8'3"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Walking/Bike Paths
Interior Features:
Kitchen Island, Walk-In Closet(s), Wet Bar, Wired for Sound
Exterior Features:
Private Yard
Patio And Porch Features:
Deck
Lot Features:
Rectangular Lot
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone NW
Zoning:
R-CG
Listed Date:
Oct 24, 2024
Days on Mkt:
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    Main Floor Bath
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    Upstairs Main Bath
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    Basement Bath
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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:
34
Avg list price:
$734,350
Min list price:
$164,900
Max list price:
$1,795,000
Avg days on market:
35
Min days on market:
1
Max days on market:
111
Avg price per sq.ft.:
$559.66
These statistics are generated based on the current listing's property type and located in Bowness. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706