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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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307 1730 5a Street SW
Cliff Bungalow Calgary T2S 2E9

$459,000
Residential beds: 2 baths: 2.0 1,220 sq. ft. built: 2009

Main Photo: 307 1730 5a Street SW in Calgary: Cliff Bungalow Apartment for sale : MLS®# A2160149
Photo 1: 307 1730 5a Street SW in Calgary: Cliff Bungalow Apartment for sale : MLS®# A2160149
Photo 2: 307 1730 5a Street SW in Calgary: Cliff Bungalow Apartment for sale : MLS®# A2160149
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Photo 34: 307 1730 5a Street SW in Calgary: Cliff Bungalow Apartment for sale : MLS®# A2160149
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2160149
Bedrooms:
2
Bathrooms:
2
Year Built:
2009
Elevate Your Life with Urban Sophistication! Discover city sophistication and upscale design in this CORNER UNIT in a concrete building that compliments your success. Located in vibrant Cliff Bungalow, your new 2-bedroom, 2-bathroom apartment offers easy access to Downtown, 17th Ave, 4th St, and the Beltline. Stylish and intelligent, this home caters to professionals who love open-concept living. Entertain in the sleek kitchen with stainless steel appliances, granite countertops, and a versatile center island. Enjoy hardwood floors, a electric fireplace, and modern fixtures. Relax in your private primary suite with a spacious shower. The second bedroom and 4-piece bath are perfect for guests or a home office. In-unit laundry and ample storage add convenience. Enjoy natural sunlight from your private south-facing balcony and secure your vehicle in the underground parking stall. Experience the ultimate urban lifestyle. This exclusive address allows for car-free living, with everything just a stroll away. Don't miss out—call now to make this dream home yours. 
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Low-Rise(1-4)
Total Living Area:
1,220.26 sq. ft.
Main Level Finished Area:
1,220.26 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$1,145.52
Condo Fee Includes:
Common Area Maintenance, Gas, Heat, Insurance, Professional Management, Reserve Fund Contributions, Sewer, Snow Removal, Trash, 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:
West
Reg. Size:
Reg. Size Includes:
Unit Exposure:
East, South
Floor Location:
Other
Entry Level:
3
Stories Total:
5
Levels:
Single Level Unit
End Unit:
2+ Common Walls, End Unit
Total Rooms Above Grade:
6
Year built:
2009 (Age: 15)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
0915055
Heating:
Baseboard, Hot Water, Natural Gas
Basement:
None
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Brick, Concrete, Stucco
Structure Type:
Low Rise (2-4 stories)
Roof:
Tar/Gravel
Ensuite:
Yes
Flooring:
Hardwood, Tile
Cooling:
None
Fireplaces:
1
Fireplace Details:
Electric, Family Room
Garage:
0
Parking:
Parkade, Titled, Underground
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit, Laundry Room, Main Level
Condo Fee Frequency:
Monthly
Tweed
Cliff Bungalow
Bicycle Storage, Elevator(s)
Dishwasher, Electric Stove, Microwave Hood Fan, Refrigerator, Washer/Dryer, Window Coverings
N/A
Non-Smoking Building, Pet Restrictions or Board approval Required
Yes
Floor
Type
Size
Other
Main Floor
Bedroom
11'5" × 10'6"
Main Floor
Dining Room
18'5" × 8'8"
Main Floor
Foyer
10'8" × 6'3"
Main Floor
Kitchen
14'5" × 13'3"
Main Floor
Laundry
6'8" × 5'5"
Main Floor
Living Room
15'5" × 12'10"
Main Floor
Bedroom - Primary
12'1" × 11'5"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
8' x 8'8"
Main Floor
Yes
4
8'2" x 8'5"
Title to Land:
Fee Simple
Community Features:
None, Playground, Schools Nearby, Shopping Nearby, Sidewalks
Interior Features:
Closet Organizers, Granite Counters, Kitchen Island, No Smoking Home, Storage, Vinyl Windows
Exterior Features:
None
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
M-C2
Listed Date:
Aug 23, 2024
Days on Mkt:
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Virtual Tour

Virtual Tour

Listed by Power Properties
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
21
Avg list price:
$344,900
Min list price:
$189,900
Max list price:
$2,000,000
Avg days on market:
48
Min days on market:
5
Max days on market:
138
Avg price per sq.ft.:
$414.54
These statistics are generated based on the current listing's property type and located in Cliff Bungalow. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706