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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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204 1029 15 Avenue SW
Beltline Calgary T2R 0S5

$460,000
Residential beds: 2 baths: 2.0 847 sq. ft. built: 2015

Main Photo: 204 1029 15 Avenue SW in Calgary: Beltline Apartment for sale : MLS®# A2174039
Photo 1: 204 1029 15 Avenue SW in Calgary: Beltline Apartment for sale : MLS®# A2174039
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Status:
Active
Prop. Type:
Residential
MLS® Num:
A2174039
Bedrooms:
2
Bathrooms:
2
Year Built:
2015
Welcome to 1029 15 Avenue SW, “The Lucida.” This exclusive, executive-designed condo offers everything you desire. The luxurious styling and finishes distinguish it from the typical units at this price point. With 847 sqft of living space, this condo immediately feels like home. The refined finishes and layout provide the convenience of an executive living space. The suite features a separation of the bedrooms while maintaining an open floor plan. The gourmet kitchen is equipped with European-style cabinetry, quartz countertops, a pantry, a gas range, a chimney-style hood fan, and stainless steel appliances. The spacious primary bedroom includes ample storage and a luxurious 5-piece bath with a deep soaker tub, separate shower, and dual sink quartz countertop vanity. Enjoy a private balcony with a natural gas hookup. Parking and storage are also included. Please click on the 3-D virtual tour link to experience this exquisite condominium.
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Low-Rise(1-4)
Total Living Area:
847 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$665.04
Condo Fee Includes:
Common Area Maintenance, Heat, Insurance, Maintenance Grounds, Professional Management, Reserve Fund Contributions, Security, See Remarks, Sewer, 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:
North
Reg. Size:
Reg. Size Includes:
Unit Exposure:
North
Floor Location:
Other
Entry Level:
2
Stories Total:
4
Levels:
Single Level Unit
End Unit:
End Unit
Total Rooms Above Grade:
5
Year built:
2015 (Age: 9)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
1511509
Heating:
Baseboard
New Constr.:
No
Construction Material:
Stone, Stucco, Wood Frame
Structure Type:
Low Rise (2-4 stories)
Ensuite:
Yes
Flooring:
Ceramic Tile, Hardwood
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Parkade, Underground
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
The Lucida
Beltline
Elevator(s), Other, Secured Parking, Storage, Trash, Visitor Parking
Dishwasher, Gas Stove, Microwave, Range Hood, Refrigerator, Washer/Dryer
.
Board Approval
Restrictions
Floor
Type
Size
Other
Main Floor
Bedroom - Primary
11' × 10'2"
Main Floor
Living Room
16'7" × 13'3"
Main Floor
Kitchen
13' × 12'
Main Floor
Dining Room
9'8" × 6'4"
Main Floor
Bedroom
9'2" × 9'1"
Floor
Ensuite
Pieces
Other
Main Floor
Yes
5
7'7" x 8'10"
Main Floor
No
4
5' x 7'8"
Title to Land:
Fee Simple
Community Features:
Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Tennis Court(s), Walking/Bike Paths
Interior Features:
Closet Organizers, Kitchen Island, No Animal Home, No Smoking Home, Open Floorplan, Pantry, Quartz Counters, Soaking Tub, Storage
Exterior Features:
Balcony, Lighting, Storage
Patio And Porch Features:
Balcony(s), Glass Enclosed, Other
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
CC-MH
Listed Date:
Oct 18, 2024
Days on Mkt:
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Virtual Tour

3D Tour

Additional Images

Virtual Tour

Listed by eXp Realty
Data was last updated November 13, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
240
Avg list price:
$382,450
Min list price:
$188,000
Max list price:
$2,900,000
Avg days on market:
44
Min days on market:
1
Max days on market:
447
Avg price per sq.ft.:
$504.15
These statistics are generated based on the current listing's property type and located in Beltline. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706