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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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428 200 Brookpark Drive SW
Braeside Calgary T2W 3E5

$322,000
Residential beds: 2 baths: 1.0 1,135 sq. ft. built: 1977

Main Photo: 428 200 Brookpark Drive SW in Calgary: Braeside Row/Townhouse for sale : MLS®# A2111493
Photo 1: 428 200 Brookpark Drive SW in Calgary: Braeside Row/Townhouse for sale : MLS®# A2111493
Photo 2: 428 200 Brookpark Drive SW in Calgary: Braeside Row/Townhouse for sale : MLS®# A2111493
Photo 3: 428 200 Brookpark Drive SW in Calgary: Braeside Row/Townhouse for sale : MLS®# A2111493
Photo 4: 428 200 Brookpark Drive SW in Calgary: Braeside Row/Townhouse for sale : MLS®# A2111493
Photo 5: 428 200 Brookpark Drive SW in Calgary: Braeside Row/Townhouse for sale : MLS®# A2111493
Photo 6: 428 200 Brookpark Drive SW in Calgary: Braeside Row/Townhouse for sale : MLS®# A2111493
Photo 7: 428 200 Brookpark Drive SW in Calgary: Braeside Row/Townhouse for sale : MLS®# A2111493
Photo 8: 428 200 Brookpark Drive SW in Calgary: Braeside Row/Townhouse for sale : MLS®# A2111493
Photo 9: 428 200 Brookpark Drive SW in Calgary: Braeside Row/Townhouse for sale : MLS®# A2111493
Photo 10: 428 200 Brookpark Drive SW in Calgary: Braeside Row/Townhouse for sale : MLS®# A2111493
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Photo 15: 428 200 Brookpark Drive SW in Calgary: Braeside Row/Townhouse for sale : MLS®# A2111493
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Photo 21: 428 200 Brookpark Drive SW in Calgary: Braeside Row/Townhouse for sale : MLS®# A2111493
Photo 22: 428 200 Brookpark Drive SW in Calgary: Braeside Row/Townhouse for sale : MLS®# A2111493
Photo 23: 428 200 Brookpark Drive SW in Calgary: Braeside Row/Townhouse for sale : MLS®# A2111493
Photo 24: 428 200 Brookpark Drive SW in Calgary: Braeside Row/Townhouse for sale : MLS®# A2111493
Photo 25: 428 200 Brookpark Drive SW in Calgary: Braeside Row/Townhouse for sale : MLS®# A2111493
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Photo 37: 428 200 Brookpark Drive SW in Calgary: Braeside Row/Townhouse for sale : MLS®# A2111493
Photo 38: 428 200 Brookpark Drive SW in Calgary: Braeside Row/Townhouse for sale : MLS®# A2111493
Status:
Sold
Sold Date:
Jul 13, 2024
Listed Price:
$329,900
Sold Price:
$322,000
Sold in:
119 days
Prop. Type:
Residential
MLS® Num:
A2111493
Bedrooms:
2
Bathrooms:
1
Year Built:
1977
Prime Investment Townhouse in Braeside – Ideal Entry-Level Price, High Potential Quick Sale Alert! Entry-Level Investment in Braeside: Modern Living with Community Appeal Type: 2 Bedroom, 1 Bathroom Townhouse. Parking: Assigned Stall. Location: Braeside, Calgary – Rich in Amenities and Community Spirit. Price: Attractive Entry-Level Investment. The owner pays gas and electricity outside condo fees. Discover a rare investment gem in Braeside, a vibrant community known for its perfect mix of city convenience and serene living. This 2-bedroom, 1-bath townhouse is an excellent entry-level investment opportunity, offering a modern lifestyle at an attractive price. Step into a world of style and functionality with an open-plan layout accentuated by a cozy kitchen featuring cabinets, laminate countertops, and appliances. Updated interiors include carpet, tile, and hardwood flooring, creating a welcoming atmosphere for tenants and homeowners alike. Situated in a peaceful location, the townhouse consists of a West-facing patio for relaxation. An assigned parking stall adds to the convenience. Location is key, and this property is ideally situated near Glenmore Reservoir, Costco, Fish Creek Park, and various new shopping plazas. Essential amenities such as schools, parks, public transit, and recreational facilities are easily accessible. Perfect for those looking to settle down or seeking a profitable rental investment, this property stands out with its blend of tranquillity and easy access to urban perks. This Braeside townhouse is not just a home; it’s an opportunity for growth, community involvement, and a lifestyle of ease and elegance. Don't miss out on this chance to invest in a strategically located, financially rewarding property. Act now and own a piece of Braeside’s charm!
Property Type:
Residential
Property Sub Type:
Row/Townhouse
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Immediate, Negotiable
Suite:
No
Home Style:
2 Storey
Total Living Area:
1,134.79 sq. ft.
Main Level Finished Area:
532.6 sq. ft.
Upper Level Finished Area:
571.22 sq. ft.
Taxes:
$1,248 / 2023
Tax Assessed Value:
190000.0
Condo Fee:
$355.37
Condo Fee Includes:
Common Area Maintenance, Insurance, Maintenance Grounds, Professional Management, Reserve Fund Contributions, Sewer, Snow Removal, Trash, Water
Front Exposure:
West
Reg. Size Includes:
Interior Above Grade, Wall Thickness
Floor Location:
Top
Entry Level:
1
Levels:
Two
End Unit:
2+ Common Walls
Total Rooms Above Grade:
5
Year built:
1977 (Age: 47)
Bedrooms:
2
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
1.0 (Full:1, Half:0)
Plan:
7711194
Heating:
Forced Air, Natural Gas
Basement:
None
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Stucco, Vinyl Siding, Wood Frame
Structure Type:
Five Plus
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Carpet, Hardwood, Tile
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Stall
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
Condo Fee Frequency:
Monthly
Cedarbrook Park
Braeside (Calgary)
Playground, Storage, Visitor Parking
Dishwasher, Dryer, Electric Stove, Range Hood, Refrigerator, Washer
NA
Board Approval
Restrictions
Floor
Type
Size
Other
Main Floor
Dining Room
11'9" × 8'3"
Main Floor
Kitchen
10'1" × 7'1"
Main Floor
Living Room
13'5" × 10'9"
Main Floor
Furnace/Utility Room
15'1" × 4'11"
2nd Floor
Bedroom
11'6" × 9'
2nd Floor
Bedroom - Primary
13'9" × 10'9"
2nd Floor
Storage
8' × 4'11"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
5'1" x 8'
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby
Interior Features:
Granite Counters
Exterior Features:
Balcony
Patio And Porch Features:
Front Porch
Lot Features:
Other
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone S
Zoning:
M-C1 d75
Listed Date:
Mar 16, 2024
Days on Mkt:
119
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Listed by URBAN-REALTY.ca
Data was last updated September 28, 2024 at 12:05 AM (UTC)
Diane Richardson
Cell: 403-397-3706