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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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1408 10 Prestwick Bay SE
McKenzie Towne Calgary T2Z 0E6

$319,900
Residential beds: 2 baths: 2.0 846 sq. ft. built: 2007

Main Photo: 1408 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177501
Photo 1: 1408 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177501
Photo 2: 1408 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177501
Photo 3: 1408 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177501
Photo 4: 1408 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177501
Photo 5: 1408 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177501
Photo 6: 1408 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177501
Photo 7: 1408 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177501
Photo 8: 1408 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177501
Photo 9: 1408 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177501
Photo 10: 1408 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177501
Photo 11: 1408 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177501
Photo 12: 1408 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177501
Photo 13: 1408 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177501
Photo 14: 1408 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177501
Photo 15: 1408 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177501
Photo 16: 1408 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177501
Photo 17: 1408 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177501
Photo 18: 1408 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177501
Photo 19: 1408 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177501
Photo 20: 1408 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177501
Photo 21: 1408 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177501
Photo 22: 1408 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177501
Photo 23: 1408 10 Prestwick Bay SE in Calgary: McKenzie Towne Apartment for sale : MLS®# A2177501
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2177501
Bedrooms:
2
Bathrooms:
2
Year Built:
2007
Move in Ready! This bright, top-floor unit offers 846 sq.ft. of immaculate living space, featuring 2 bedrooms and 2 baths thoughtfully separated by the living area — ideal for roommates. The unit has been meticulously maintained and includes updated laminate and tile flooring throughout (no carpet!). Enjoy an open-concept kitchen and dining area that overlooks the living room, complete with a cozy fireplace. Step outside to a spacious, north-facing balcony where you can take in city views and watch both sunrises and sunsets. The primary bedroom is generously sized and includes a walk-through closet leading to a private ensuite. A second bedroom, additional bathroom, and a laundry room with storage complete this great unit. A titled underground parking stall is also included for added convenience. Low condo fees of $466.13 per month includes all utilities (water, heat & electric). Located within walking distance of the amenities on 130th Avenue and offering easy access to Deerfoot Trail, this unit is in an ideal location and available for immediate possession!
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:
846 sq. ft.
Main Level Finished Area:
846 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$466.13
Condo Fee Includes:
Amenities of HOA/Condo, Common Area Maintenance, Electricity, Heat, Insurance, Maintenance Grounds, Parking, Professional Management, Reserve Fund Contributions, Sewer, Snow Removal, 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:
Southeast
Reg. Size:
Reg. Size Includes:
Unit Exposure:
North
Floor Location:
Top
Entry Level:
4
Stories Total:
4
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
5
Year built:
2007 (Age: 17)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
0713442
Heating:
Baseboard
New Constr.:
No
Construction Material:
Brick, Vinyl Siding, Wood Frame
Structure Type:
Low Rise (2-4 stories)
Ensuite:
Yes
Flooring:
Ceramic Tile, Laminate
Cooling:
None
Fireplaces:
1
Fireplace Details:
Electric, Living Room, Mantle, Tile
Garage:
0
Garage Spaces:
1
Parking:
Heated Garage, Parkade, Stall, Titled, 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), Parking, Secured Parking, Visitor Parking
Dishwasher, Dryer, Electric Stove, Microwave Hood Fan, Refrigerator, Washer
garage door fob, all window coverings
Pet Restrictions or Board approval Required
Restrictions
Floor
Type
Size
Other
Main Floor
Living Room
14' × 12'
Main Floor
Kitchen
11' × 10'
Main Floor
Dining Room
8'11" × 5'11"
Main Floor
Bedroom - Primary
10'11" × 10'7"
Main Floor
Bedroom
11'11" × 10'2"
Main Floor
Laundry
7'9" × 3'9"
Floor
Ensuite
Pieces
Other
Main Floor
Yes
4
Main Floor
No
4
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
Breakfast Bar, Open Floorplan, Storage, Walk-In Closet(s)
Exterior Features:
Balcony
Patio And Porch Features:
Balcony(s)
Lot Features:
Landscaped
Num. of Parcels:
0
Fencing:
Partial
Region:
Calgary
Zone:
CAL Zone SE
Zoning:
M-2
Listed Date:
Nov 08, 2024
Days on Mkt:
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Listed by RE/MAX Realty Professionals
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