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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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205 19 Avenue NW
Tuxedo Park Calgary T2M 0Y3

$624,900
Residential beds: 2 baths: 1.0 1,019 sq. ft. built: 1944

Main Photo: 205 19 Avenue NW in Calgary: Tuxedo Park Detached for sale : MLS®# A2178546
Photo 1: 205 19 Avenue NW in Calgary: Tuxedo Park Detached for sale : MLS®# A2178546
Photo 2: 205 19 Avenue NW in Calgary: Tuxedo Park Detached for sale : MLS®# A2178546
Photo 3: 205 19 Avenue NW in Calgary: Tuxedo Park Detached for sale : MLS®# A2178546
Photo 4: 205 19 Avenue NW in Calgary: Tuxedo Park Detached for sale : MLS®# A2178546
Photo 5: 205 19 Avenue NW in Calgary: Tuxedo Park Detached for sale : MLS®# A2178546
Photo 6: 205 19 Avenue NW in Calgary: Tuxedo Park Detached for sale : MLS®# A2178546
Photo 7: 205 19 Avenue NW in Calgary: Tuxedo Park Detached for sale : MLS®# A2178546
Photo 8: 205 19 Avenue NW in Calgary: Tuxedo Park Detached for sale : MLS®# A2178546
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Photo 12: 205 19 Avenue NW in Calgary: Tuxedo Park Detached for sale : MLS®# A2178546
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Photo 41: 205 19 Avenue NW in Calgary: Tuxedo Park Detached for sale : MLS®# A2178546
Photo 42: 205 19 Avenue NW in Calgary: Tuxedo Park Detached for sale : MLS®# A2178546
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2178546
Bedrooms:
2
Bathrooms:
1
Year Built:
1944
OPPORTUNITY KNOCKS! Location, location, location with this hidden gem in arguably one of the best locations in Tuxedo Park. Nestled in on a low-traffic, quiet cul-de-sac and situated on a LOT & A HALF (37.5’ x 125’). Walking distance to all amenities, shops & just steps away from multiple parks & Downtown Calgary! An awesome opportunity for an INVESTOR or DOWNSIZE/FIRST TIME HOMEBUYER to OWN a BUNGALOW on a LARGE LOT at a price lower than most rent you can find in our city. Greeted with an OPEN PLAN living room with gorgeous hardwood flooring & spanning into your dining space with BRIGHT kitchen boasting plenty of cabinets/counter space and LOADS OF WINDOWS ACROSS THE BACK OF THE HOUSE to let the NATURAL LIGHT FLOOD IN! Large Primary Bedroom, another good-sized bedroom & a 4pc main bath complete the main level nicely. SEPARATE ACCESS OFF THE BACK OF THE HOUSE & leads to your MASSIVE SUNNY SOUTH BACKING LOT with OVERSIZED DETACHED GARAGE (26’ 11” x 22’ 9”). PRIVATE BACKYARD fully fenced with several deck/patio areas to entertain & storage shed. AMPLE PARKING with room to park multiple vehicles out front and rear lane access to your garage. Enjoy the private peaceful oasis of a backyard within the hustle & bustle! The partially finished basement is host to the laundry, workshop & great REC ROOM for another spacious gathering area/living space. A charming CURB APPEAL (stucco exterior) just adds a ton of character to this home. Close to all amenities, public transit, walking paths, parks & all levels of schools. Easy access to the main roadway systems, this one will SELL FAST! QUICK POSSESSION AVAILABLE. Book your private viewing today to appreciate what awesome value this Bungalow has to offer!
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:
1,019 sq. ft.
Main Level Finished Area:
1,019 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
361 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
4,693 sq. ft.
Lot Frontage:
37'6"
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:
Levels:
One
Total Rooms Above Grade:
5
Year built:
1944 (Age: 80)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
1.0 (Full:1, Half:0)
Plan:
2129O
Heating:
Forced Air
Basement:
Full, Partially Finished
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Stucco, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Ceramic Tile, Hardwood, See Remarks
Cooling:
None
Fireplaces:
1
Fireplace Details:
Electric
Garage:
1
Garage Spaces:
2
Parking:
Additional Parking, Alley Access, Double Garage Detached, Off Street, Oversized, Rear Drive, Workshop in Garage
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
In Basement, Laundry Room
Tuxedo Park
Dishwasher, Dryer, Microwave, Range Hood, Refrigerator, Washer, Window Coverings
Storage Shed.
None Known
Floor
Type
Size
Other
Main Floor
Kitchen
10'1" × 10'
Main Floor
Dining Room
17'2" × 10'11"
Main Floor
Living Room
16'10" × 13'1"
Main Floor
Bedroom - Primary
11'8" × 10'
Main Floor
Bedroom
11'9" × 11'5"
Basement
Family Room
16'7" × 10'8"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
0' x 0'
Title to Land:
Fee Simple
Community Features:
Airport/Runway, Fishing, Golf, Other, Park, Playground, Pool, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Tennis Court(s), Walking/Bike Paths
Interior Features:
Open Floorplan, See Remarks, Storage
Exterior Features:
Courtyard, Other, Private Yard, Storage
Patio And Porch Features:
Deck, Patio, See Remarks
Lot Features:
Back Lane, Back Yard, Cul-De-Sac, Fruit Trees/Shrub(s), Front Yard, Lawn, Landscaped, Private, Rectangular Lot, Secluded, See Remarks
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
R-CG
Listed Date:
Nov 11, 2024
Days on Mkt:
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Listed by Legacy Real Estate Services
Data was last updated November 14, 2024 at 04:05 PM (UTC)
Area Statistics
Listings on market:
24
Avg list price:
$799,750
Min list price:
$319,000
Max list price:
$1,200,000
Avg days on market:
55
Min days on market:
1
Max days on market:
207
Avg price per sq.ft.:
$532.87
These statistics are generated based on the current listing's property type and located in Tuxedo Park. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706