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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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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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224 305 18 Avenue SW
Mission Calgary T2S 3H1

$430,000
Residential beds: 2 baths: 1.0 737 sq. ft. built: 2015

Main Photo: 224 305 18 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2176488
Photo 1: 224 305 18 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2176488
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Photo 32: 224 305 18 Avenue SW in Calgary: Mission Apartment for sale : MLS®# A2176488
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2176488
Bedrooms:
2
Bathrooms:
1
Year Built:
2015
Welcome to The District! Experience urban sophistication in this stunning 2-bedroom, 1-bath condo on the second floor, located in Calgary's highly sought-after Mission neighborhood. This vibrant complex on 18th Ave puts you just steps from the Elbow River and within a short walk to the lively energy of 17th Ave and 4th Street, where the best restaurants, boutiques, cafes, and downtown vibes await. Inside, the open floor plan and modern finishes make this space truly inviting. The sleek kitchen is designed for entertaining, featuring quartz countertops, a premium stainless steel appliance package, and soft-close drawers for added luxury. Enjoy the convenience of soft-close toilet seats, LED lighting, and remote-operated blinds, along with lights that dim to create the perfect ambiance. Stay comfortable year-round with a Nest smart thermostat and a sensor-activated night light in the bathroom. Step out to your private balcony for a quiet escape. This building offers exclusive underground parking with a titled stall and a dedicated storage locker for extra convenience. You'll love the large closet and in-suite laundry. With quick access to the Western Canada High School, Stampede grounds, LRT, and downtown Calgary, you'll be at the heart of everything this vibrant inner-city community has to offer. Don’t miss the chance to make Mission your new home!
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Apartment
Total Living Area:
737.08 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$502.90
Condo Fee Includes:
Common Area Maintenance, 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:
North
Reg. Size:
Reg. Size Includes:
Unit Exposure:
South
Floor Location:
Other
Entry Level:
2
Stories Total:
4
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
5
Year built:
2015 (Age: 9)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
1.0 (Full:1, Half:0)
Plan:
1513213
Heating:
Baseboard
New Constr.:
No
Construction Material:
Brick, Wood Frame
Structure Type:
Low Rise (2-4 stories)
Ensuite:
No
Flooring:
Ceramic Tile, Hardwood
Cooling:
Central Air
Fireplaces:
0
Garage:
0
Parking:
Parkade, Underground
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
Z-name Not Listed
Mission
Elevator(s)
Built-In Oven, Dishwasher, Garage Control(s), Gas Cooktop, Microwave Hood Fan, Refrigerator, Washer/Dryer Stacked, Window Coverings
remote controlled blinds, nest thermostat, led lighting
Board Approval
Restrictions
Floor
Type
Size
Other
Main Floor
Kitchen
9'5" × 8'11"
Main Floor
Dining Room
12'5" × 10'10"
Main Floor
Living Room
11'2" × 9'11"
Main Floor
Laundry
4'6" × 2'8"
Main Floor
Balcony
11'8" × 5'5"
Main Floor
Bedroom - Primary
11'7" × 9'11"
Main Floor
Bedroom
13'8" × 7'9"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
7'6" x 10'6"
Title to Land:
Fee Simple
Community Features:
Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
High Ceilings, Quartz Counters
Exterior Features:
Courtyard, Private Entrance
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
DC
Listed Date:
Nov 02, 2024
Days on Mkt:
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Listed by Unison Realty Group Ltd.
Data was last updated November 13, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
37
Avg list price:
$333,000
Min list price:
$199,900
Max list price:
$1,375,000
Avg days on market:
33
Min days on market:
2
Max days on market:
130
Avg price per sq.ft.:
$457.3
These statistics are generated based on the current listing's property type and located in Mission. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706