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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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207 4403 67A Avenue
NONE Olds T4H 0B9

$275,000
Residential beds: 2 baths: 2.0 880 sq. ft. built: 2010

Meet this modern apartment located close to a large shopping centre.
Photo 1: 207 4403 67A Avenue: Olds Apartment for sale : MLS®# A2142443
Photo 2: 207 4403 67A Avenue: Olds Apartment for sale : MLS®# A2142443
Photo 3: 207 4403 67A Avenue: Olds Apartment for sale : MLS®# A2142443
Photo 4: 207 4403 67A Avenue: Olds Apartment for sale : MLS®# A2142443
Photo 5: 207 4403 67A Avenue: Olds Apartment for sale : MLS®# A2142443
Photo 6: 207 4403 67A Avenue: Olds Apartment for sale : MLS®# A2142443
Photo 7: 207 4403 67A Avenue: Olds Apartment for sale : MLS®# A2142443
Photo 8: 207 4403 67A Avenue: Olds Apartment for sale : MLS®# A2142443
Photo 9: 207 4403 67A Avenue: Olds Apartment for sale : MLS®# A2142443
Photo 10: 207 4403 67A Avenue: Olds Apartment for sale : MLS®# A2142443
Photo 11: 207 4403 67A Avenue: Olds Apartment for sale : MLS®# A2142443
Photo 12: 207 4403 67A Avenue: Olds Apartment for sale : MLS®# A2142443
Photo 13: 207 4403 67A Avenue: Olds Apartment for sale : MLS®# A2142443
Photo 14: 207 4403 67A Avenue: Olds Apartment for sale : MLS®# A2142443
Photo 15: 207 4403 67A Avenue: Olds Apartment for sale : MLS®# A2142443
Photo 16: 207 4403 67A Avenue: Olds Apartment for sale : MLS®# A2142443
Photo 17: 207 4403 67A Avenue: Olds Apartment for sale : MLS®# A2142443
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2142443
Bedrooms:
2
Bathrooms:
2
Year Built:
2010
This adult-oriented (55+) complex provides the best of worlds – quiet green space and close proximity to a large shopping centre. The apartment features numerous updates and it shows beautifully. The hardwood floor greets you at the front door and continues through the entire apartment. The kitchen is an elegant, balanced room built around a functional central island topped with light-coloured granite. Within the kitchen, the stainless steel appliances are accentuated by rich wood-grain cabinets. The kitchen is open to the living room, with its view out onto the east-facing balcony. Well-proportioned bedrooms offer walk-in closets and are separated by a living room. The master bedroom boasts a deluxe spa ensuite bathroom and the main bathroom is just by the second bedroom. The unit offers plenty of storage including one inside and another in the heated parkade by the parking stall. The elevator is just around the corner with no long hallway to conquer. Dogs and cats are allowed with board permission. Dogs must not exceed 20 pounds mature weight and be no taller than 18 inches. Sorry, but the smoking on the balcony is not allowed. Don’t miss this opportunity!
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:
879.74 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$612.00
Condo Fee Includes:
Common Area Maintenance, Electricity, Heat, Insurance, Maintenance Grounds, Parking, 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:
East
Reg. Size:
Reg. Size Includes:
Unit Exposure:
East
Floor Location:
Other
Entry Level:
2
Stories Total:
4
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
4
Year built:
2010 (Age: 14)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
0914937
Heating:
Baseboard, Natural Gas
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Stone, Vinyl Siding, Wood Frame
Structure Type:
Low Rise (2-4 stories)
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Hardwood, Tile
Cooling:
None
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
NONE
Elevator(s), Party Room, Secured Parking, Visitor Parking
Built-In Oven, Dishwasher, Electric Cooktop, Garage Control(s), Microwave, Range Hood, Refrigerator, Washer/Dryer, Window Coverings
Shelving unit and shoe rack in the storage unit, a small table and the shelving unit in the second bedroom.
Adult Living, Pet Restrictions or Board approval Required
Restrictions
Floor
Type
Size
Other
Main Floor
Living Room
19'1" × 11'11"
Main Floor
Kitchen
13' × 9'3"
Main Floor
Bedroom - Primary
14'3" × 11'1"
Main Floor
Bedroom
10'2" × 9'3"
Main Floor
Storage
6'7" × 5'10"
Floor
Ensuite
Pieces
Other
Main Floor
Yes
3
0' x 0'
Suite
No
4
0' x 0'
Title to Land:
Fee Simple
Community Features:
Shopping Nearby
Interior Features:
Breakfast Bar, Closet Organizers, Granite Counters, Kitchen Island, Storage
Exterior Features:
Balcony
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Region:
Mountain View County
Zoning:
R3
Listed Date:
Jun 21, 2024
Days on Mkt:
  • Photo 1: 207 4403 67A Avenue: Olds Apartment for sale : MLS®# A2142443
    Meet this modern apartment located close to a large shopping centre.
  • Photo 2: 207 4403 67A Avenue: Olds Apartment for sale : MLS®# A2142443
    The lobby in the building.
  • Photo 3: 207 4403 67A Avenue: Olds Apartment for sale : MLS®# A2142443
    The entrance to the apartment. The doorway at left opens to the laundry/storage room.
  • Photo 4: 207 4403 67A Avenue: Olds Apartment for sale : MLS®# A2142443
    The modern kitchen with tall cabinets will please the most discriminating cook.
  • Photo 5: 207 4403 67A Avenue: Olds Apartment for sale : MLS®# A2142443
    The kitchen was built around practical island topped with classy granite.
  • Photo 6: 207 4403 67A Avenue: Olds Apartment for sale : MLS®# A2142443
    A set of stainless steel appliances complete this upscale part of the apartment.
  • Photo 7: 207 4403 67A Avenue: Olds Apartment for sale : MLS®# A2142443
    A large living room opens to the east-facing balcony.
  • Photo 8: 207 4403 67A Avenue: Olds Apartment for sale : MLS®# A2142443
    A large balcony is a perfect place to relax.
  • Photo 9: 207 4403 67A Avenue: Olds Apartment for sale : MLS®# A2142443
    The view from the kitchen towards the living room.
  • Photo 10: 207 4403 67A Avenue: Olds Apartment for sale : MLS®# A2142443
    This is a master bedroom.
  • Photo 11: 207 4403 67A Avenue: Olds Apartment for sale : MLS®# A2142443
    This is a master bedroom looking straight ahead into the en-suite bathroom.
  • Photo 12: 207 4403 67A Avenue: Olds Apartment for sale : MLS®# A2142443
    This is luxurious en-suite bathroom.
  • Photo 13: 207 4403 67A Avenue: Olds Apartment for sale : MLS®# A2142443
    The second bedroom is separated from the master bedroom by the living room.
  • Photo 14: 207 4403 67A Avenue: Olds Apartment for sale : MLS®# A2142443
    The full bathroom is situated by the second bedroom.
  • Photo 15: 207 4403 67A Avenue: Olds Apartment for sale : MLS®# A2142443
    The laundry/storage room is in the apartment.
  • Photo 16: 207 4403 67A Avenue: Olds Apartment for sale : MLS®# A2142443
    The communal meeting room is located on the main floor.
  • Photo 17: 207 4403 67A Avenue: Olds Apartment for sale : MLS®# A2142443
    There is a heated and secure parking stall and storage locker in the parkade.
Listed by RE/MAX Real Estate (Central)
Data was last updated June 30, 2024 at 12:05 AM (UTC)
Area Statistics
Listings on market:
49
Avg list price:
$549,900
Min list price:
$204,777
Max list price:
$1,599,000
Avg days on market:
33
Min days on market:
1
Max days on market:
254
Avg price per sq.ft.:
$351.06
These statistics are generated based on the current listing's property type and located in Olds. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706