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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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8508 Addison Drive SE
Acadia Calgary T2H 1P1

$699,987
Residential beds: 4 baths: 2.0 1,106 sq. ft. built: 1967

Main Photo: 8508 Addison Drive SE in Calgary: Acadia Detached for sale : MLS®# A2157938
Photo 1: 8508 Addison Drive SE in Calgary: Acadia Detached for sale : MLS®# A2157938
Photo 2: 8508 Addison Drive SE in Calgary: Acadia Detached for sale : MLS®# A2157938
Photo 3: 8508 Addison Drive SE in Calgary: Acadia Detached for sale : MLS®# A2157938
Photo 4: 8508 Addison Drive SE in Calgary: Acadia Detached for sale : MLS®# A2157938
Photo 5: 8508 Addison Drive SE in Calgary: Acadia Detached for sale : MLS®# A2157938
Photo 6: 8508 Addison Drive SE in Calgary: Acadia Detached for sale : MLS®# A2157938
Photo 7: 8508 Addison Drive SE in Calgary: Acadia Detached for sale : MLS®# A2157938
Photo 8: 8508 Addison Drive SE in Calgary: Acadia Detached for sale : MLS®# A2157938
Photo 9: 8508 Addison Drive SE in Calgary: Acadia Detached for sale : MLS®# A2157938
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Photo 12: 8508 Addison Drive SE in Calgary: Acadia Detached for sale : MLS®# A2157938
Photo 13: 8508 Addison Drive SE in Calgary: Acadia Detached for sale : MLS®# A2157938
Photo 14: 8508 Addison Drive SE in Calgary: Acadia Detached for sale : MLS®# A2157938
Photo 15: 8508 Addison Drive SE in Calgary: Acadia Detached for sale : MLS®# A2157938
Photo 16: 8508 Addison Drive SE in Calgary: Acadia Detached for sale : MLS®# A2157938
Photo 17: 8508 Addison Drive SE in Calgary: Acadia Detached for sale : MLS®# A2157938
Photo 18: 8508 Addison Drive SE in Calgary: Acadia Detached for sale : MLS®# A2157938
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Photo 20: 8508 Addison Drive SE in Calgary: Acadia Detached for sale : MLS®# A2157938
Photo 21: 8508 Addison Drive SE in Calgary: Acadia Detached for sale : MLS®# A2157938
Photo 22: 8508 Addison Drive SE in Calgary: Acadia Detached for sale : MLS®# A2157938
Photo 23: 8508 Addison Drive SE in Calgary: Acadia Detached for sale : MLS®# A2157938
Photo 24: 8508 Addison Drive SE in Calgary: Acadia Detached for sale : MLS®# A2157938
Photo 25: 8508 Addison Drive SE in Calgary: Acadia Detached for sale : MLS®# A2157938
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2157938
Bedrooms:
4
Bathrooms:
2
Year Built:
1967
Discover your family’s next destination in the desirable neighborhood of Acadia! This spectacular bi-level home offers the best of both worlds, it is perfectly situated on a spacious lot in a quiet cul-de-sac but also offers easy access to Blackfoot, Glenmore, and Deerfoot Trail to save you time commuting every day. Enjoy the convenience of nearby schools, parks, and the best retail shopping in the city - all within walking distance. Stroll along the expansive green space with no neighbors directly behind. This perfectly sized home boasts over 2000 sq ft total, spread across both upper and lower levels. It features 3+1 bedrooms, a bright living and dining room, brand-new matching Samsung kitchen appliances, and new triple-pane high-efficiency windows for increased comfort and serious energy savings. The beautifully maintained backyard includes a double garage with a hobby workshop. Recent updates include a new roof (shingles replaced less than two years ago) and a professionally installed Leaf Filter gutter guard with a transferable lifetime warranty, new high end window coverings, and a stylish new front door. Step into the closet with all-new California closets, optimizing every inch of ample storage space. Brand new carpet . The lower level offers a cozy family room with an electric fireplace, a large bedroom, and a spacious 5-piece bath. Welcome home to a place where comfort and community come together! Drive buy 8508 Addison Drive S.E. for your living pleasure. Call for your private viewing.
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Bi-Level
Total Living Area:
1,106 sq. ft.
Main Level Finished Area:
1,106 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
820 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
5,500 sq. ft.
Lot Frontage:
50'
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:
West
Reg. Size:
Reg. Size Includes:
Unit Exposure:
West
Floor Location:
Ground
Levels:
Bi-Level
Total Rooms Above Grade:
6
Year built:
1967 (Age: 57)
Bedrooms:
4 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
1
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
4969JK
Heating:
Forced Air, Natural Gas
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Metal Siding, Stucco, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle, See Remarks
Ensuite:
No
Flooring:
Carpet, Hardwood, Tile
Cooling:
Other
Fireplaces:
1
Fireplace Details:
Electric, Family Room, Insert, See Remarks
Garage:
1
Garage Spaces:
2
Parking:
Alley Access, Double Garage Detached, Enclosed, Garage Faces Rear, Paved, Rear Drive, See Remarks, Workshop in Garage
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
Lower Level
Acadia
Dishwasher, Dryer, Garage Control(s), Refrigerator, Stove(s), Washer, Window Coverings
N/A
None Known
Floor
Type
Size
Other
Main Floor
Bedroom
10'6" × 8'6"
Main Floor
Kitchen
12'2" × 11'6"
Main Floor
Bedroom - Primary
11'6" × 10'6"
Main Floor
Bedroom
9'6" × 8'10"
Main Floor
Dining Room
11'10" × 8'10"
Main Floor
Living Room
14'5" × 6'7"
Lower Level
Bedroom
10'6" × 8'6"
Lower Level
Game Room
18'4" × 8'2"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
16'5" x 9'10"
Lower Level
No
5
0' x 0'
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
Closet Organizers, Jetted Tub, No Smoking Home, Stone Counters, Storage, Vinyl Windows
Exterior Features:
Garden, Playground, Private Entrance, Private Yard, Rain Barrel/Cistern(s), Rain Gutters, Storage
Patio And Porch Features:
Deck, See Remarks
Lot Features:
Back Lane, Backs on to Park/Green Space, Cul-De-Sac, Front Yard, Lawn, Interior Lot, No Neighbours Behind, Landscaped, Level, Street Lighting, Yard Drainage, Rectangular Lot, See Remarks, Treed
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone S
Zoning:
R-C1
Listed Date:
Aug 29, 2024
Days on Mkt:
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Listed by RE/MAX iRealty Innovations
Data was last updated September 22, 2024 at 10:05 AM (UTC)
Area Statistics
Listings on market:
17
Avg list price:
$629,900
Min list price:
$214,900
Max list price:
$799,900
Avg days on market:
10
Min days on market:
1
Max days on market:
72
Avg price per sq.ft.:
$598.2
These statistics are generated based on the current listing's property type and located in Acadia. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706