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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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552 Prestwick Circle SE
McKenzie Towne Calgary T2Z 4P7

$608,900
Residential beds: 4 baths: 4.0 1,355 sq. ft. built: 2004

Main Photo: 552 Prestwick Circle SE in Calgary: McKenzie Towne Detached for sale : MLS®# A2164394
Photo 1: 552 Prestwick Circle SE in Calgary: McKenzie Towne Detached for sale : MLS®# A2164394
Photo 2: 552 Prestwick Circle SE in Calgary: McKenzie Towne Detached for sale : MLS®# A2164394
Photo 3: 552 Prestwick Circle SE in Calgary: McKenzie Towne Detached for sale : MLS®# A2164394
Photo 4: 552 Prestwick Circle SE in Calgary: McKenzie Towne Detached for sale : MLS®# A2164394
Photo 5: 552 Prestwick Circle SE in Calgary: McKenzie Towne Detached for sale : MLS®# A2164394
Photo 6: 552 Prestwick Circle SE in Calgary: McKenzie Towne Detached for sale : MLS®# A2164394
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Photo 42: 552 Prestwick Circle SE in Calgary: McKenzie Towne Detached for sale : MLS®# A2164394
Photo 43: 552 Prestwick Circle SE in Calgary: McKenzie Towne Detached for sale : MLS®# A2164394
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2164394
Bedrooms:
4
Bathrooms:
4
Year Built:
2004
Welcome to this fantastic 4-bedroom, 3.5-bathroom fully developed basement home in desirable McKenzie Towne! This well-maintained home boasts a great location—just a short walk to 130th Ave shops and amenities and right across from McKenzie Towne's school and playground. The main floor has 1,355 sqft of space, another 173 ft of sunroom space, a total of 1,528 plus the fully developed basement. This home features beautiful laminate flooring, a bright foyer that opens to a generous great room, and a bright dining area. The fantastic kitchen offers lovely cabinets, ample storage, a large central island with a raised stool bar, and a big corner pantry. Upstairs, you'll find a spacious primary bedroom with a large walk-in closet and a 4-piece ensuite with a soaker tub and tile surround, as well as two large kids' rooms and a 4-piece bath with an easy-maintenance soaker tub/shower combo. The finished basement comes with a good size fourth bedroom, Plus a den including a full kitchen with laundry. The basement is currently being rented and it can be used as and Air B&B or a Illegal suite "subject to the approval and permitting of the City," This home is perfect for someone who wants to run a day home or a family with small children.
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
Suite - Illegal
Home Style:
2 Storey
Total Living Area:
1,355 sq. ft.
Main Level Finished Area:
680 sq. ft.
Upper Level Finished Area:
675 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Frequency:
Annually
HOA Fee Includes:
Lot Area:
3,132 sq. ft.
Lot Frontage:
28'1½"
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
Levels:
Two
Total Rooms Above Grade:
7
Year built:
2004 (Age: 20)
Bedrooms:
4 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
1
Bathrooms:
4.0 (Full:3, Half:1)
Plan:
0313472
Heating:
Forced Air
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Vinyl Siding, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Ceramic Tile, Hardwood, Laminate
Cooling:
None
Fireplaces:
0
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Detached
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
In Unit
HOA Fee:
$226.60
McKenzie Towne
None
Dishwasher, Gas Range, Refrigerator, Washer/Dryer, Window Coverings
none
Encroachment, Restrictive Covenant
Floor
Type
Size
Other
Main Floor
Living Room
19' × 17'11"
Main Floor
Dining Room
14'8" × 8'4"
Main Floor
Kitchen
10'5" × 3'
Main Floor
Sunroom/Solarium
13'9" × 11'3"
2nd Floor
Bedroom
10'7" × 9'3"
2nd Floor
Bedroom
10'5" × 9'4"
2nd Floor
Bedroom - Primary
14'3" × 11'2"
Lower Level
Bedroom
13'2" × 8'2"
Lower Level
Den
10'2" × 6'2"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
14'3" x 11'2"
2nd Floor
Yes
4
2nd Floor
No
4
Basement
No
3
Title to Land:
Fee Simple
Community Features:
None
Interior Features:
Laminate Counters, No Animal Home, No Smoking Home, Open Floorplan, Pantry
Exterior Features:
Balcony, Private Yard, Storage
Patio And Porch Features:
Covered, Patio
Lot Features:
Rectangular Lot
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone SE
Zoning:
R-1N
Listed Date:
Sep 10, 2024
Days on Mkt:
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Listed by RE/MAX Real Estate (Mountain View)
Data was last updated November 10, 2024 at 02:05 PM (UTC)
Area Statistics
Listings on market:
37
Avg list price:
$444,900
Min list price:
$290,000
Max list price:
$959,800
Avg days on market:
23
Min days on market:
2
Max days on market:
80
Avg price per sq.ft.:
$390.12
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