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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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4204 10 Prestwick Bay SE
McKenzie Towne Calgary T2Z 0B4

$329,900
Residential beds: 2 baths: 2.0 924 sq. ft. built: 2006

Main Photo: 4204 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177074
Photo 1: 4204 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177074
Photo 2: 4204 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177074
Photo 3: 4204 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177074
Photo 4: 4204 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177074
Photo 5: 4204 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177074
Photo 6: 4204 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177074
Photo 7: 4204 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177074
Photo 8: 4204 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177074
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Photo 12: 4204 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177074
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Photo 14: 4204 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177074
Photo 15: 4204 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177074
Photo 16: 4204 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177074
Photo 17: 4204 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177074
Photo 18: 4204 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177074
Photo 19: 4204 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177074
Photo 20: 4204 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177074
Photo 21: 4204 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177074
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2177074
Bedrooms:
2
Bathrooms:
2
Year Built:
2006
Welcome to The Pointe at Prestwick !! This 2 Bedroom 2 Bathroom End Unit is in the SE corner of McKenzie Towne and features an open concept floorplan with light maple cabinets, in- suite laundry and a heated underground parking stall. All located in this highly walkable location, close to shopping, dining, and amenities of 130th Avenue. Surrounded by schools, playgrounds, the Prestwick Spray Park, and so much more. Monthly condo fees include your heat, water, and electricity as well.
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Apartment
Total Living Area:
923.5 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$519.92
Condo Fee Includes:
Common Area Maintenance, Gas, Heat, Maintenance Grounds, Parking, Professional Management, Reserve Fund Contributions, Sewer, Water
HOA Fee Frequency:
Annually
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:
South
Reg. Size:
Reg. Size Includes:
Unit Exposure:
South
Floor Location:
Other
Entry Level:
2
Stories Total:
4
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
5
Year built:
2006 (Age: 18)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
0611591
Heating:
Baseboard, Natural Gas
New Constr.:
No
Construction Material:
Wood Frame
Structure Type:
Low Rise (2-4 stories)
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Laminate
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Stall, Underground
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
HOA Fee:
$226.60
Condo Fee Frequency:
Monthly
The Pointe at Prestwick
McKenzie Towne
Elevator(s), Storage, Visitor Parking
Dishwasher, Dryer, Electric Stove, Range Hood, Refrigerator, Washer, Window Coverings
n/a
None Known
Restrictions
Floor
Type
Size
Other
Main Floor
Bedroom - Primary
13'3" × 12'10"
Main Floor
Bedroom
11' × 10'10"
Main Floor
Laundry
8'5" × 5'2"
Main Floor
Kitchen
9'3" × 9'
Main Floor
Dining Room
9'3" × 8'9"
Main Floor
Living Room
14'11" × 12'6"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
0' x 0'
Main Floor
Yes
4
Title to Land:
Fee Simple
Community Features:
Fishing, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights
Interior Features:
Open Floorplan, See Remarks
Exterior Features:
Balcony
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone SE
Zoning:
M-2
Listed Date:
Oct 31, 2024
Days on Mkt:
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Listed by Boutique Properties Inc.
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
34
Avg list price:
$441,200
Min list price:
$290,000
Max list price:
$959,800
Avg days on market:
23
Min days on market:
5
Max days on market:
83
Avg price per sq.ft.:
$391.28
These statistics are generated based on the current listing's property type and located in McKenzie Towne. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706