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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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404 Canterbury Place SW
Canyon Meadows Calgary T2W 2B6

$1,249,900
Residential beds: 4 baths: 3.0 1,724 sq. ft. built: 1973

Main Photo: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2174967
Photo 1: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2174967
Photo 2: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2174967
Photo 3: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2174967
Photo 4: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2174967
Photo 5: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2174967
Photo 6: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2174967
Photo 7: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2174967
Photo 8: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2174967
Photo 9: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2174967
Photo 10: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2174967
Photo 11: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2174967
Photo 12: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2174967
Photo 13: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2174967
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Photo 22: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2174967
Photo 23: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2174967
Photo 24: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2174967
Photo 25: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2174967
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Photo 34: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2174967
Photo 35: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2174967
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2174967
Bedrooms:
4
Bathrooms:
3
Year Built:
1973
404 Canterbury Place in Canyon Meadows Estates is a fully renovated FOUR bedroom BUNGALOW offering over 3092+ sq feet of living space. This FULLY RENOVATED home has an updated floor plan and new windows and doors, roof, stucco, driveway pad, ceiling and wall insulation, plumbing, electrical panel and wiring, drywall etc. CENTRAL VAC and a convenient VACPAN are installed and ready for use. The ATTACHED GARAGE is heated and has a rough-in for an EV charging station. The convenient mudroom has the option of housing a main floor laundry while a fully equipped laundry and craft room downstairs, has tonnes of STORAGE. An open and spacious floor plan shows off the living room, kitchen and dining area with beautiful WHITE OAK accents. The well-planned kitchen has quartz countertops, plenty of storage, numerous white oak shelves, a bulit-in microwave, a pot filler at the range, an oversized island and a BEVERAGE CENTER across the room. The master bedroom has an abundance of storage as well as an ensuite with heated flooring, a separate toilet room and a custom CURBLESS SHOWER. Custom built-in closets are in the two additional bedrooms, as well. A flex room off of the living room and kitchen could be used as a dining room, office (with back entry), craft room or a play space. In the basement you will find a wet bar and second beverage center, a fourth bedroom and a large laundry area. Mature trees and a beautiful CEDAR DECK wait for you to enjoy the expansive backyard. Come and see everything Canyon Meadows has to offer – highly rated SCHOOLS, an active community center, tennis courts and a neighborhood “babbling brook” as well as easy access to transit, shopping, Fish Creek Park and more. This community has it all!
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Bungalow
Total Living Area:
1,724 sq. ft.
Main Level Finished Area:
1,724 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
1,368 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
8,546 sq. ft.
Lot Frontage:
69'5"
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:
Levels:
One
Total Rooms Above Grade:
7
Year built:
1973 (Age: 51)
Bedrooms:
4 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
1
Bathrooms:
3.0 (Full:3, Half:0)
Plan:
1080LK
Heating:
Forced Air, Natural Gas
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Brick, See Remarks, Stucco, Wood Frame
Structure Type:
House
Roof:
Flat Torch Membrane, Flat
Ensuite:
Yes
Flooring:
Ceramic Tile, Hardwood, Vinyl
Cooling:
None
Fireplaces:
1
Fireplace Details:
Gas, Living Room
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Attached
Parking Places:
6.0
Parking Total/Covered:
6 / -
Laundry Features:
In Basement, Main Level, Multiple Locations
Canyon Meadows
Bar Fridge, Built-In Refrigerator, Dishwasher, Dryer, Electric Stove, Garage Control(s), Microwave, Range Hood, Washer, Window Coverings
N/A
Encroachment, Utility Right Of Way
Floor
Type
Size
Other
Main Floor
Entrance
8'6" × 7'9"
Main Floor
Kitchen
13'9" × 13'
Main Floor
Dining Room
11'6" × 10'6"
Main Floor
Living Room
17'8" × 16'7"
Main Floor
Office
12'11" × 10'5"
Main Floor
Bedroom - Primary
12'9" × 12'
Main Floor
Bedroom
11'8" × 11'5"
Main Floor
Bedroom
13'7" × 9'11"
Main Floor
Laundry
9'6" × 5'8"
Basement
Family Room
20'10" × 13'6"
Basement
Game Room
17'9" × 13'11"
Basement
Bedroom
12'7" × 12'4"
Basement
Other
8'2" × 6'11"
Basement
Laundry
10' × 9'9"
Basement
Furnace/Utility Room
17'6" × 8'9"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
8'9" x 5'8"
Main Floor
Yes
4
13'7" x 4'11"
Basement
No
3
10'10" x 6'5"
Title to Land:
Fee Simple
Community Features:
Golf, Park, Playground, Pool, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Tennis Court(s), Walking/Bike Paths
Interior Features:
Built-in Features, Central Vacuum, Granite Counters, Kitchen Island, No Animal Home, No Smoking Home, Open Floorplan, See Remarks, Vinyl Windows, Wet Bar
Exterior Features:
Playground, Private Yard, Tennis Court(s)
Patio And Porch Features:
Deck
Lot Features:
Back Yard, Cul-De-Sac, Few Trees, Lawn, Landscaped, Level, Street Lighting, See Remarks
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone S
Zoning:
R-C1
Listed Date:
Oct 24, 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:
25
Avg list price:
$775,000
Min list price:
$199,900
Max list price:
$3,988,888
Avg days on market:
27
Min days on market:
2
Max days on market:
68
Avg price per sq.ft.:
$418.89
These statistics are generated based on the current listing's property type and located in Canyon Meadows. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706