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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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  2. Phone Number: Call me directly at 403.397.3706 with any questions or to schedule viewings.

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When contacting me, please ensure to include the property address or MLS® number for the listing you are interested in. I look forward to hearing from you!

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70 Cochrane Crescent
Cochrane Heights Cochrane T4C 1Z8

$1,100,000
Residential beds: 5 baths: 3.0 2,375 sq. ft. built: 1961

Main Photo: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 1: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 2: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 3: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 4: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 5: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 6: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 7: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 8: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 9: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 10: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 11: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 12: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 13: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 14: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 15: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 16: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 17: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
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Photo 20: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 21: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 22: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 23: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 24: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 25: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
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Photo 30: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 31: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
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Photo 34: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 35: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 36: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 37: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 38: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 39: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 40: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 41: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 42: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 43: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 44: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 45: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 46: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 47: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 48: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 49: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Photo 50: 70 Cochrane Crescent: Cochrane Detached for sale : MLS®# A2176247
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2176247
Bedrooms:
5
Bathrooms:
3
Year Built:
1961
Welcome to this one of a kind luxury estate property on a MASSIVE 0.28 ACRE LOT that is perfectly positioned with stunning SOUTHWEST BACKING PANORAMIC VIEWS overlooking the Bow Valley, Cochrane & the Rocky Mountains - the PRIVACY, views & sunsets that this property offers is Cochrane's best! With incredible craftsmanship throughout, the entire home was redesigned in 2012, rocking 5 bedrooms, 3 bathrooms, a triple tandem heated garage with epoxy flooring & over 3300 sq ft of developed living space. Upon entry to the home you'll be blown away with the amount of natural sunlight on the main floor that flows seamlessly throughout, perfectly complementing the stunning vaulted ceilings with a flat finish, recessed lighting & generous open concept layout. The custom kitchen boasts a grand aluminium island surrounded by high end stainless steel appliances, a pantry & bright white cabinetry. Adjacent is the large dining room with more built in cabinetry & the industrial style living room with a double sided fireplace. Step outside through the large patio doors onto the composite deck to take in one of the largest backyards in Cochrane that is truly a dream for anyone who enjoys the outdoors or entertaining! The upstairs primary bedroom has an executive feel with two walk-in closets, a well laid out ensuite bathroom with barn doors, a large shower including a steam shower AND of course the primary bedroom comes with more stunning mountain views. On the upper levels you'll be pleased to find three additional large bedrooms, a super cool art studio space & another full bathroom with a dual sink vanity. The lower level with a walk-up door entrance to the backyard features a gas fireplace in the family room, laundry area with a sink, the 5th bedroom & another full bathroom. Don't lift a finger because when this home was redesigned in 2012 it also received new spray foam insulation, siding, roofing & mechanical. This location on the ridge in Cochrane Heights is incredibly picturesque & sought out with it being walking distance to Cochrane’s amenities, parks & schools (Grades 1-12, Elizabeth Barrett Elementary School, Manachaban Middle School, Cochrane High School). Whether you are a growing family, appreciate great architecture or a working professional who just enjoys the finer things in life, this property has it all & it won't be matched in Cochrane at this price point, this is the unicorn - this luxury estate home shows 10/10 & it must be viewed to fully appreciate its incredible craftsmanship.
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
2 Storey
Total Living Area:
2,375.04 sq. ft.
Main Level Finished Area:
740.17 sq. ft.
Upper Level Finished Area:
1,634.87 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
938.36 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
12,406 sq. ft.
Lot Frontage:
54'2¾"
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:
Levels:
Two
Total Rooms Above Grade:
8
Year built:
1961 (Age: 63)
Bedrooms:
5 (Above Grd: 4)
Bedrooms Above Grade:
4
Bedrooms Below Grade:
1
Bathrooms:
3.0 (Full:3, Half:0)
Plan:
9111753
Heating:
High Efficiency, Forced Air, Natural Gas, Zoned
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Metal Siding, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Concrete, Laminate, Tile
Cooling:
None
Fireplaces:
2
Fireplace Details:
Double Sided, Family Room, Gas, Living Room
Garage:
1
Garage Spaces:
3
Parking:
Heated Garage, Oversized, Tandem, Triple Garage Attached
Parking Places:
7.0
Parking Total/Covered:
7 / -
Laundry Features:
Sink
Cochrane Heights
Dishwasher, Garage Control(s), Gas Stove, Range Hood, Refrigerator, Washer/Dryer, Window Coverings
Garage Heater, Outdoor Shed
Restrictive Covenant
Floor
Type
Size
Other
Main Floor
Foyer
9'9" × 4'11"
Main Floor
Kitchen
17'6" × 12'2"
Main Floor
Dining Room
12'5" × 9'6"
Upper Level
Bedroom
12'5" × 12'2"
Upper Level
Walk-In Closet
6'2" × 3'2"
Upper Level
Bedroom
11'11" × 11'7"
Upper Level
Walk-In Closet
5'9" × 3'7"
Upper Level
Loft
5'11" × 5'4"
Upper Level
Bedroom - Primary
14'9" × 14'3"
Upper Level
Walk-In Closet
10' × 7'
Upper Level
Bedroom
21'1" × 11'10"
Lower Level
Living Room
14'6" × 14'2"
Basement
Family Room
15'4" × 12'8"
Basement
Flex Space
12' × 11'9"
Basement
Laundry
12' × 4'
Basement
Bedroom
12'8" × 11'6"
Basement
Storage
9'1" × 7'11"
Basement
Furnace/Utility Room
11'6" × 9'4"
Floor
Ensuite
Pieces
Other
Upper Level
No
5
4'11" x 12'5"
Upper Level
Yes
3
5'11" x 19'1"
Basement
No
3
7'9" x 7'11"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
Breakfast Bar, Built-in Features, Closet Organizers, Double Vanity, High Ceilings, Kitchen Island, Metal Counters, Natural Woodwork, No Smoking Home, Open Floorplan, Pantry, See Remarks, Separate Entrance, Skylight(s), Vaulted Ceiling(s), Walk-In Closet(s)
Exterior Features:
Lighting, Private Entrance, Private Yard, Storage
Patio And Porch Features:
Awning(s), Deck, Patio, See Remarks
Lot Features:
Back Yard, Lawn, No Neighbours Behind, Irregular Lot, Landscaped, Level, Secluded, See Remarks, Treed, Views
Num. of Parcels:
0
Fencing:
Fenced
Region:
Rocky View County
Zoning:
R-LD
Listed Date:
Nov 01, 2024
Days on Mkt:
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Virtual Tour

Listed by Grassroots Realty Group
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
188
Avg list price:
$659,900
Min list price:
$249,900
Max list price:
$1,375,000
Avg days on market:
34
Min days on market:
1
Max days on market:
399
Avg price per sq.ft.:
$370.65
These statistics are generated based on the current listing's property type and located in Cochrane. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706