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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

$1,349,900
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®# A2162043
Photo 1: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2162043
Photo 2: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2162043
Photo 3: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2162043
Photo 4: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2162043
Photo 5: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2162043
Photo 6: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2162043
Photo 7: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2162043
Photo 8: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2162043
Photo 9: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2162043
Photo 10: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2162043
Photo 11: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2162043
Photo 12: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2162043
Photo 13: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2162043
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Photo 22: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2162043
Photo 23: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2162043
Photo 24: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2162043
Photo 25: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2162043
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Photo 32: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2162043
Photo 33: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2162043
Photo 34: 404 Canterbury Place SW in Calgary: Canyon Meadows Detached for sale : MLS®# A2162043
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2162043
Bedrooms:
4
Bathrooms:
3
Year Built:
1973
Welcome to your new home in the serene and family-friendly neighborhood of Canyon Meadows Estates. Located on a corner lot, this home boasts over 3092+ sq feet of living space. This bright and modernized 4-bedroom bungalow features an open concept layout, hardwood throughout the main floor (that also continues into the bedrooms), gas fireplace with custom wall finishing, additional dining room that could also be used as a main floor den and a barn door at the upper laundry room entrance. Enjoy this amazing spacious kitchen, with beautiful white cabinetry, quartz countertops and backsplash, s/s appliances, pot filler at the range, oversized island and a large beverage center/counter area. The master suite has an abundance of storage, with closet built-ins and another barn door leading to a 4 pc dream shower with extra vanity space and a custom curbless shower. Custom built-ins in additional bedrooms as well. Well laid out back entrance with more custom built-ins and cubby’s, great for children. Huge open basement to use as you like, with a wet bar/beverage center, 4th bedroom and second large laundry area. Make sure to have a look at the expansive backyard, with mature trees and a beautiful cedar patio with privacy wall. For the finishing touch, see the new double attached garage, insulated and heated. Come and enjoy everything Canyon Meadows has to offer – school, transit, shopping, Fish Creek Park, community center, tennis courts and neighborhood “Babbling Brook. 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:
Sep 06, 2024
Days on Mkt:
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Listed by RE/MAX Landan Real Estate
Data was last updated September 20, 2024 at 06:05 PM (UTC)
Area Statistics
Listings on market:
25
Avg list price:
$816,000
Min list price:
$249,000
Max list price:
$4,250,000
Avg days on market:
16
Min days on market:
1
Max days on market:
99
Avg price per sq.ft.:
$450.93
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