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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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225 & 229 Creekside Drive SW
C-168 Calgary T0L 0X0

$1,370,000
Residential beds: 8 baths: 8.0 3,216 sq. ft. built: 2022

Main Photo: 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2174059
Photo 1: 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2174059
Photo 2: 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2174059
Photo 3: 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2174059
Photo 4: 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2174059
Photo 5: 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2174059
Photo 6: 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2174059
Photo 7: 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2174059
Photo 8: 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2174059
Photo 9: 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2174059
Photo 10: 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2174059
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Photo 17: 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2174059
Photo 18: 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2174059
Photo 19: 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2174059
Photo 20: 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2174059
Photo 21: 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2174059
Photo 22: 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2174059
Photo 23: 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2174059
Photo 24: 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2174059
Photo 25: 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2174059
Photo 26: 225 & 229 Creekside Drive SW in Calgary: C-168 Full Duplex for sale : MLS®# A2174059
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2174059
Bedrooms:
8
Bathrooms:
8
Year Built:
2022
Still under warranty this exceptional turnkey opportunity is perfectly positioned for an investor to just step in. The upper units come fully self contained with 3 bedrooms, 2.5 bathrooms, full laundry, family room and additional bonus room. Gourmet chefs kitchen offers ceiling height, soft close cabinetry, stone countertops and gas range. Off the kitchen you will find a large dining area, half bathroom and mudroom. Full sized laundry located on the top floor along with large primary bedroom with coffer ceiling, large walk-in closet and beautiful ensuite with deep soaker tub. Additional 2 bedrooms, full bathroom and large bonus room completed the functional level. Downstairs you will find the 1-bedroom legal basement suite with 9 foot ceilings, large windows and the same upgraded finishes throughout including designer tiles, wide plank flooring and LED pots lights. Located in the new community of Sirocco in Pine Creek this property is steps from greenspace, soon to be exceptional amenities and lots of new development such as a new commercial complex and school at the end of the street! There is also opportunity to purchase each side of the duplex separately. Proforma for this professionally managed building available upon request.
Property Type:
Residential
Property Sub Type:
Full Duplex
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
Suite - Legal
Home Style:
2 Storey, Side by Side
Total Living Area:
3,216 sq. ft.
Main Level Finished Area:
1,614 sq. ft.
Upper Level Finished Area:
1,602 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
1,452 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
4,886 sq. ft.
Lot Frontage:
48'
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:
Southwest
Reg. Size:
Reg. Size Includes:
Entry Level:
1
Levels:
Two
End Unit:
1 Common Wall
Total Rooms Above Grade:
14
Year built:
2022 (Age: 2)
Bedrooms:
8 (Above Grd: 6)
Bedrooms Above Grade:
6
Bedrooms Below Grade:
2
Bathrooms:
8.0 (Full:6, Half:2)
Plan:
2310269
Heating:
Baseboard, Electric, Forced Air, Natural Gas
Basement:
Finished, Full, Suite
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Stone, Vinyl Siding, Wood Frame
Structure Type:
Duplex
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Linoleum, Vinyl Plank
Cooling:
None
Fireplaces:
0
Garage:
1
Garage Spaces:
4
Parking:
Garage Faces Rear, Quad or More Detached
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
In Basement, Laundry Room, Upper Level
Pine Creek
Dishwasher, Dryer, Gas Stove, Microwave Hood Fan, Refrigerator, Washer
Lower Unit: Refrigerator, Electric Stove, Microwave, Washer, Dryer, Dishwasher
None Known
Floor
Type
Size
Other
Main Floor
Dining Room
13'2" × 10'10"
Main Floor
Living Room
14' × 11'10"
Main Floor
Kitchen
12'9" × 11'11"
Main Floor
Pantry
5'6" × 3'5"
Main Floor
Dining Room
13'2" × 10'10"
Main Floor
Living Room
14' × 11'10"
Main Floor
Kitchen
12'9" × 11'11"
Main Floor
Pantry
5'6" × 3'5"
Upper Level
Laundry
5'1" × 3'3"
Upper Level
Bonus Room
15'1" × 8'6"
Upper Level
Bedroom - Primary
13'5" × 13'
Upper Level
Bedroom
9'5" × 9'
Upper Level
Bedroom
12'4" × 9'3"
Upper Level
Bonus Room
15'1" × 8'6"
Upper Level
Laundry
5'1" × 3'3"
Upper Level
Bedroom - Primary
13'5" × 13'
Upper Level
Bedroom
9'5" × 9'
Upper Level
Bedroom
12'4" × 9'3"
Basement
Kitchen
10' × 8'8"
Basement
Living Room
17' × 12'7"
Basement
Furnace/Utility Room
8'9" × 5'9"
Basement
Laundry
3'9" × 3'6"
Basement
Bedroom
12'7" × 9'11"
Basement
Kitchen
10' × 8'8"
Basement
Living Room
17' × 12'7"
Basement
Furnace/Utility Room
8'9" × 5'9"
Basement
Laundry
3'9" × 3'6"
Basement
Bedroom
12'7" × 9'11"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
5'2" x 5'5"
Main Floor
No
2
5'2" x 5'5"
Upper Level
Yes
3
5'3" x 8'5"
Upper Level
No
4
4'11" x 7'7"
Upper Level
Yes
3
5'3" x 8'5"
Upper Level
No
4
4'11" x 7'7"
Basement
No
4
4'11" x 8'7"
Basement
No
4
4'11" x 8'7"
Title to Land:
Fee Simple
Community Features:
Playground, Pool, Shopping Nearby, Sidewalks, Street Lights
Interior Features:
Pantry, Walk-In Closet(s)
Exterior Features:
None
Patio And Porch Features:
None
Lot Features:
Back Lane, Views
Num. of Parcels:
0
Fencing:
None
Region:
Calgary
Zone:
CAL Zone S
Zoning:
R-G
Listed Date:
Oct 30, 2024
Days on Mkt:
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Listed by Real Broker
Data was last updated November 13, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
29
Avg list price:
$770,000
Min list price:
$558,075
Max list price:
$1,370,000
Avg days on market:
25
Min days on market:
1
Max days on market:
147
Avg price per sq.ft.:
$398.05
These statistics are generated based on the current listing's property type and located in C-168. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706