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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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Unit 1 1615 1 Avenue
Teepee Town Canmore T1W 1M7

$1,449,000
Residential beds: 3 baths: 4.0 1,591 sq. ft. built: 2024

Main Photo: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 1: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 2: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 3: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 4: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 5: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 6: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 7: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 8: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 9: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 10: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 11: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 12: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 13: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 14: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 15: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 16: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 17: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 18: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 19: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 20: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 21: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 22: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 23: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 24: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 25: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 26: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 27: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 28: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 29: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 30: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 31: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 32: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 33: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 34: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 35: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 36: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 37: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 38: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 39: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 40: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 41: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 42: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 43: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 44: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 45: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 46: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 47: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Photo 48: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2117963
Bedrooms:
3
Bathrooms:
4
Year Built:
2024
**Incredible opportunity** Introducing the newly constructed unit in 4Plex along with a LEGAL SUITE on the Main floor. It comes with 3 bedrooms, 4 full bathrooms and two Balconies. It is zoned as a residential unit and offers a luxurious and modern interior package. The main level is comprised of a single attached garage with a legal suite (full kitchen, dining area, 4pc bathroom, closet and all the appliances). Moving up to the first floor, you have a modern and large living room, kitchen and dining area. The kitchen includes quartz countertops, ample cabinets and a large island. There is a modern electric fireplace in the living room. There is also a 3pc bathroom on this floor. The first-floor balcony offers spectacular views of the mountains that surround this property. The Second floor consists of 3 bedrooms and laundry. The primary bedroom comes with a 3pc ensuite bathroom, closet and Balcony. The other 2 bedrooms are good size and also have closets. The property is minutes away from the Bow Valley Trail and is within walking distance from downtown and local parks. *Seller will finish driveway, landscaping and side fence in the summertime.
Property Type:
Residential
Property Sub Type:
Row/Townhouse
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
Suite - Legal
Home Style:
Townhouse
Total Living Area:
1,591.12 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$394.00
Condo Fee Includes:
Common Area Maintenance, Insurance, Maintenance Grounds, Reserve Fund Contributions
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:
Northeast
Reg. Size:
Reg. Size Includes:
Entry Level:
2
Levels:
Three Or More
End Unit:
2+ Common Walls
Total Rooms Above Grade:
6
Year built:
2024 (Age: 0)
Bedrooms:
3 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
0
Bathrooms:
4.0 (Full:4, Half:0)
Plan:
1095F
Heating:
Forced Air, Natural Gas
Basement:
None
Foundation:
Poured Concrete
New Constr.:
Yes
Construction Material:
Wood Frame
Structure Type:
Four Plex
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Ceramic Tile, Vinyl Plank
Cooling:
None
Fireplaces:
1
Fireplace Details:
Electric, Living Room
Garage:
1
Garage Spaces:
1
Parking:
Driveway, Single Garage Attached
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
Z-name Not Listed
Teepee Town
Parking
Convection Oven, Dishwasher, Electric Cooktop, Microwave, Microwave Hood Fan, Washer/Dryer Stacked
N/A
Condo/Strata Approval
Restrictions
Floor
Type
Size
Other
Main Floor
Living Room
20'9" × 18'5"
Main Floor
Kitchen
10'8" × 8'11"
Main Floor
Dining Room
11' × 9'6"
2nd Floor
Bedroom - Primary
12'9" × 10'10"
2nd Floor
Bedroom
12' × 8'11"
2nd Floor
Bedroom
12'11" × 8'11"
Suite
Kitchen
13'7" × 12'7"
Suite
Dining Room
8' × 8'
Floor
Ensuite
Pieces
Other
Main Floor
No
3
10' x 5'2"
2nd Floor
No
4
8'9" x 4'10"
2nd Floor
Yes
3
7'9" x 8'5"
Suite
No
4
4'10" x 7'6"
Title to Land:
Fee Simple
Community Features:
Walking/Bike Paths
Interior Features:
Closet Organizers, Kitchen Island, No Animal Home, No Smoking Home, Quartz Counters
Exterior Features:
Balcony
Patio And Porch Features:
Balcony(s)
Lot Features:
Rectangular Lot
Num. of Parcels:
0
Fencing:
None
Region:
Bighorn No. 8, M.D. of
Zoning:
Residential
Listed Date:
Mar 30, 2024
Days on Mkt:
  • Photo 1: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    Photo 1 of 48
  • Photo 2: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    Photo 2 of 48
  • Photo 3: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    Photo 3 of 48
  • Photo 4: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    Suite - Kitchen
  • Photo 5: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    Suite - Kitchen
  • Photo 6: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    Suite
  • Photo 7: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    Suite - Dining
  • Photo 8: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    Suite - Laundry
  • Photo 9: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    Suite - Bathroom
  • Photo 10: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    Suite
  • Photo 11: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    Main - Kitchen
  • Photo 12: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    Main - Living room with Fireplace
  • Photo 13: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    Main - Living Room with balcony
  • Photo 14: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    Main - Living Room
  • Photo 15: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    Main
  • Photo 16: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    Main - Bathroom
  • Photo 17: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    Main - Bathroom
  • Photo 18: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    Main - Balcony
  • Photo 19: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    Main
  • Photo 20: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    Main
  • Photo 21: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    Main
  • Photo 22: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    Main
  • Photo 23: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    Main - Kitchen
  • Photo 24: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    2nd Floor
  • Photo 25: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    2nd Floor - Bedroom
  • Photo 26: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    2nd Floor
  • Photo 27: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    2nd Floor - Balcony
  • Photo 28: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    2nd Floor - Balcony
  • Photo 29: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    2nd Floor
  • Photo 30: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    2nd Floor
  • Photo 31: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    2nd Floor - Primary
  • Photo 32: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    2nd Floor
  • Photo 33: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    2nd Floor
  • Photo 34: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    2nd Floor
  • Photo 35: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    2nd Floor
  • Photo 36: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    2nd Floor - Bedroom
  • Photo 37: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    2nd Floor
  • Photo 38: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    2nd Floor
  • Photo 39: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    2nd Floor
  • Photo 40: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    2nd Floor
  • Photo 41: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    2nd Floor - Bedroom
  • Photo 42: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    Garage
  • Photo 43: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    Photo 43 of 48
  • Photo 44: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    Photo 44 of 48
  • Photo 45: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    Photo 45 of 48
  • Photo 46: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    Floor Plan - Suite
  • Photo 47: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    Floor Plan - Main
  • Photo 48: Unit 1 1615 1 Avenue: Canmore Row/Townhouse for sale : MLS®# A2117963
    Floor Plan - 2nd Floor

Virtual Tour

Virtual Tour

Listed by RE/MAX Excellence
Data was last updated November 14, 2024 at 04:05 PM (UTC)
Area Statistics
Listings on market:
148
Avg list price:
$1,199,000
Min list price:
$69,995
Max list price:
$8,717,800
Avg days on market:
60
Min days on market:
2
Max days on market:
845
Avg price per sq.ft.:
$878.59
These statistics are generated based on the current listing's property type and located in Canmore. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706