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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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2217 23 Street SW
Richmond Calgary T2T 5H6

$750,000
Residential beds: 3 baths: 3.0 1,260 sq. ft. built: 1978

Main Photo: 2217 23 Street SW in Calgary: Richmond Detached for sale : MLS®# A2145430
Photo 1: 2217 23 Street SW in Calgary: Richmond Detached for sale : MLS®# A2145430
Photo 2: 2217 23 Street SW in Calgary: Richmond Detached for sale : MLS®# A2145430
Photo 3: 2217 23 Street SW in Calgary: Richmond Detached for sale : MLS®# A2145430
Photo 4: 2217 23 Street SW in Calgary: Richmond Detached for sale : MLS®# A2145430
Photo 5: 2217 23 Street SW in Calgary: Richmond Detached for sale : MLS®# A2145430
Photo 6: 2217 23 Street SW in Calgary: Richmond Detached for sale : MLS®# A2145430
Photo 7: 2217 23 Street SW in Calgary: Richmond Detached for sale : MLS®# A2145430
Photo 8: 2217 23 Street SW in Calgary: Richmond Detached for sale : MLS®# A2145430
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Photo 49: 2217 23 Street SW in Calgary: Richmond Detached for sale : MLS®# A2145430
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2145430
Bedrooms:
3
Bathrooms:
3
Year Built:
1978
Welcome to an exquisite residence nestled in the vibrant heart of Richmond, offering over 1,900 square feet of meticulously developed living space. Upon entering, you are welcomed into a spacious living room bathed in natural light from the expansive windows, creating a warm and inviting ambiance. The gourmet kitchen, a true culinary haven, features sleek stainless steel appliances, elegant cabinetry providing ample storage, and sophisticated quartz countertops. From the kitchen, step directly onto your private backyard deck, perfect for al fresco dining and entertaining. The main level is thoughtfully designed with a convenient mudroom and a stylish two-piece powder room. Ascend to the upper level where you will discover the luxurious primary bedroom, accompanied by two additional generously sized bedrooms, all sharing a well-appointed four-piece bathroom. The fully finished basement extends your living space, featuring a large family room and a versatile recreation room, ideal for hosting guests or creating a play area for children. This lower level also includes a second four-piece bathroom, a laundry room, and a utility room, ensuring functionality and convenience. Outside, the expansive west-facing backyard is designed for easy maintenance, offering a serene outdoor retreat. The property is complete with a double detached garage, providing ample space for vehicles and storage. Some notable upgrades and mentions about the property include, new flooring, carpet, tile and vinyl, newly renovated bathrooms, newer deck, heated garage with 60 amp supply, newer tankless hot water system & high-efficiency furnace, newer roof, eaves and soffits - on house and garage in the last 5 years. This location can’t be beat, quiet & friendly neighbours, mature trees, and close proximity to all the amenities, major traffic routes, transit, 17th Avenue and downtown!
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
2 Storey
Total Living Area:
1,260.5 sq. ft.
Main Level Finished Area:
649.7 sq. ft.
Upper Level Finished Area:
610.8 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
612.15 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
4,111 sq. ft.
Lot Frontage:
25'8"
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:
East
Reg. Size:
Reg. Size Includes:
Levels:
Two
Total Rooms Above Grade:
7
Year built:
1978 (Age: 46)
Bedrooms:
3 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
0
Bathrooms:
3.0 (Full:2, Half:1)
Plan:
5140AG
Heating:
High Efficiency, Forced Air, Natural Gas
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Stone, Stucco, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Carpet, Tile, Vinyl
Cooling:
None
Fireplaces:
0
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Detached, Oversized
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
Electric Dryer Hookup, In Basement, Laundry Room, Washer Hookup
Richmond
Dishwasher, Dryer, Electric Stove, Range Hood, Refrigerator, Washer, Window Coverings
N/A
None Known
Floor
Type
Size
Other
Main Floor
Living Room
17'3" × 12'2"
Main Floor
Kitchen
20'8" × 10'1"
Main Floor
Foyer
6'3" × 5'
Main Floor
Laundry
7'6" × 7'4"
2nd Floor
Bedroom - Primary
14'10" × 10'2"
2nd Floor
Bedroom
13'4" × 8'5"
2nd Floor
Bedroom
11'10" × 8'6"
2nd Floor
Family Room
15'8" × 10'7"
Basement
Game Room
21' × 9'8"
Basement
Laundry
6'7" × 5'8"
Basement
Furnace/Utility Room
6' × 4'6"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
3'10" x 7'5"
2nd Floor
No
4
5' x 6'10"
Basement
No
4
5'8" x 8'10"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights
Interior Features:
Built-in Features, Quartz Counters
Exterior Features:
None
Patio And Porch Features:
Deck, Front Porch
Lot Features:
Back Lane, Back Yard, Corner Lot, Few Trees, Level, Rectangular Lot
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
R-C2
Listed Date:
Jul 18, 2024
Days on Mkt:
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Listed by Real Broker
Data was last updated November 14, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
25
Avg list price:
$999,900
Min list price:
$349,900
Max list price:
$2,299,900
Avg days on market:
53
Min days on market:
1
Max days on market:
118
Avg price per sq.ft.:
$525.62
These statistics are generated based on the current listing's property type and located in Richmond. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706