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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 1235 Cameron Avenue SW
Lower Mount Royal Calgary T2T 0L1

$489,000
Residential beds: 2 baths: 2.0 1,217 sq. ft. built: 2000

Main Photo: 204 1235 Cameron Avenue SW in Calgary: Lower Mount Royal Apartment for sale : MLS®# A2176897
Photo 1: 204 1235 Cameron Avenue SW in Calgary: Lower Mount Royal Apartment for sale : MLS®# A2176897
Photo 2: 204 1235 Cameron Avenue SW in Calgary: Lower Mount Royal Apartment for sale : MLS®# A2176897
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Photo 48: 204 1235 Cameron Avenue SW in Calgary: Lower Mount Royal Apartment for sale : MLS®# A2176897
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2176897
Bedrooms:
2
Bathrooms:
2
Year Built:
2000
Urban lifestyle enthusiasts will find this executive 2-bedroom, 2-bath condo in the heart of Lower Mt. Royal irresistible. Located in a small, well-managed building where units like this rarely become available, this condo offers great square footage and layout—an exceptional value for downtown living. With titled underground parking, it features gorgeous hardwood and tile floors along with beautiful crown mouldings. The gourmet kitchen is a chef's dream, showcasing granite countertops, a center island, and top-of-the-line appliances, including a Sub-Zero fridge and Wolf gas cooktop. The spacious great room boasts an elegant stone-finished gas fireplace, complemented by a large dining nook and built-in work station. The large primary bedroom offers a luxurious 5-piece ensuite and a walk-in closet, while the generous second bedroom comes with a 4-piece bath. You'll also find in-suite laundry with a full-size washer and dryer for added convenience. Step outside to your private outdoor patio with a gas line and enjoy stunning city views. Situated just steps from vibrant 17th Avenue, residents will revel in easy access to trendy shops, restaurants, and all the amenities that make inner-city living so desirable. Whether it’s exploring cafes, indulging in fine dining, or enjoying the nightlife, everything is at your doorstep! This condo truly combines luxury and convenience in a prime location.
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Low-Rise(1-4)
Total Living Area:
1,217 sq. ft.
Main Level Finished Area:
1,217 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$1,019.28
Condo Fee Includes:
Common Area Maintenance, Heat, Insurance, Professional Management, Reserve Fund Contributions, Sewer, Snow Removal, 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:
1
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
6
Year built:
2000 (Age: 24)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
0012761
Heating:
In Floor, Natural Gas
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Brick, Wood Frame
Structure Type:
Low Rise (2-4 stories)
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Hardwood, Tile
Cooling:
None
Fireplaces:
1
Fireplace Details:
Gas, Living Room, Stone
Garage:
0
Parking:
Titled, Underground
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
The Royal
Lower Mount Royal
Elevator(s), Storage, Visitor Parking
Dishwasher, Dryer, Garburator, Gas Cooktop, Oven-Built-In, Range Hood, Refrigerator, Washer, Window Coverings
N/A
Pet Restrictions or Board approval Required
Yes
Floor
Type
Size
Other
Main Floor
Living Room
13'10" × 11'11"
Main Floor
Dining Room
9'11" × 9'7"
Main Floor
Kitchen
21'10" × 11'4"
Main Floor
Foyer
9'9" × 9'1"
Main Floor
Bedroom - Primary
14'7" × 11'7"
Main Floor
Bedroom
12'10" × 12'3"
Main Floor
Laundry
6'5" × 5'6"
Floor
Ensuite
Pieces
Other
Main Floor
Yes
5
Main Floor
No
4
Title to Land:
Fee Simple
Community Features:
Playground, Shopping Nearby, Sidewalks, Street Lights
Interior Features:
Built-in Features, Crown Molding, Double Vanity, Granite Counters, Kitchen Island, Walk-In Closet(s)
Exterior Features:
Balcony, BBQ gas line
Patio And Porch Features:
Balcony(s)
Lot Features:
Views
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
M-C2
Listed Date:
Nov 01, 2024
Days on Mkt:
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Listed by RE/MAX Landan Real Estate
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
26
Avg list price:
$338,500
Min list price:
$183,900
Max list price:
$850,000
Avg days on market:
31
Min days on market:
4
Max days on market:
89
Avg price per sq.ft.:
$404.32
These statistics are generated based on the current listing's property type and located in Lower Mount Royal. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706