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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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209 15233 1 Street SE
Midnapore Calgary T2X 0X5

$246,000
Residential beds: 1 baths: 1.0 462 sq. ft. built: 2014

Main Photo: 209 15233 1 Street SE in Calgary: Midnapore Apartment for sale : MLS®# A2142751
Photo 1: 209 15233 1 Street SE in Calgary: Midnapore Apartment for sale : MLS®# A2142751
Photo 2: 209 15233 1 Street SE in Calgary: Midnapore Apartment for sale : MLS®# A2142751
Photo 3: 209 15233 1 Street SE in Calgary: Midnapore Apartment for sale : MLS®# A2142751
Photo 4: 209 15233 1 Street SE in Calgary: Midnapore Apartment for sale : MLS®# A2142751
Photo 5: 209 15233 1 Street SE in Calgary: Midnapore Apartment for sale : MLS®# A2142751
Photo 6: 209 15233 1 Street SE in Calgary: Midnapore Apartment for sale : MLS®# A2142751
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Photo 21: 209 15233 1 Street SE in Calgary: Midnapore Apartment for sale : MLS®# A2142751
Photo 22: 209 15233 1 Street SE in Calgary: Midnapore Apartment for sale : MLS®# A2142751
Photo 23: 209 15233 1 Street SE in Calgary: Midnapore Apartment for sale : MLS®# A2142751
Photo 24: 209 15233 1 Street SE in Calgary: Midnapore Apartment for sale : MLS®# A2142751
Photo 25: 209 15233 1 Street SE in Calgary: Midnapore Apartment for sale : MLS®# A2142751
Photo 26: 209 15233 1 Street SE in Calgary: Midnapore Apartment for sale : MLS®# A2142751
Status:
Sold
Sold Date:
Jul 25, 2024
Listed Price:
$248,800
Sold Price:
$246,000
Sold in:
36 days
Prop. Type:
Residential
MLS® Num:
A2142751
Bedrooms:
1
Bathrooms:
1
Year Built:
2014
Welcome to Unit 209 at 15233 1 Street SE, a delightful retreat nestled within the serene community of Lake Midnapore. Offering a harmonious blend of comfort, convenience, and recreational amenities, this one-bedroom, one-bathroom unit is an idyllic sanctuary for those seeking a tranquil lifestyle. Step into a welcoming haven, the cozy living space provides the perfect setting for relaxation and entertainment, while the well-appointed bedroom offers a peaceful retreat for rest and rejuvenation. The modern bathroom features contemporary amenities for your comfort and convenience, completing the interior sanctuary of this charming residence. Convenience meets tranquility with this unit, offering a designated parking space and additional storage to accommodate your needs. However, the true gem of this residence lies in its access to the recreational facilities at Lake Midnapore. Best part, the HOA fee is already included in your condo fee! Enjoy exclusive access to the tennis courts and pickleball courts nestled within the enchanting surroundings of Lake Midnapore. Whether you're spending a day soaking up the sun at the beach, enjoying a paddle boat ride across the lake, or having fun around the campfire and ice skating, Lake Midnapore offers year round activities for everyone. This residence offers a serene environment with easy access to urban conveniences. With nearby shopping, dining, and entertainment options, as well as convenient transportation links, residents enjoy the perfect blend of tranquility and accessibility. This unit wont last long, don’t wait - contact your favorite realtor today!
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Immediate, Negotiable
Suite:
No
Home Style:
Apartment
Total Living Area:
462.5 sq. ft.
Taxes:
$1,248 / 2024
Condo Fee:
$399.81
Condo Fee Includes:
Amenities of HOA/Condo, Common Area Maintenance, Gas, Heat, Insurance, Maintenance Grounds, Parking, Professional Management, Reserve Fund Contributions, Snow Removal, Trash, Water
HOA Fee Frequency:
Annually
HOA Fee Includes:
Amenities w/HOA, Lake Access
Front Exposure:
Northeast
Reg. Size Includes:
Interior Above Grade
Unit Exposure:
Southwest
Floor Location:
Other
Entry Level:
2
Stories Total:
3
Levels:
Single Level Unit
End Unit:
2+ Common Walls, No One Below
Total Rooms Above Grade:
3
Year built:
2014 (Age: 10)
Bedrooms:
1
Bedrooms Above Grade:
1
Bedrooms Below Grade:
0
Bathrooms:
1.0 (Full:1, Half:0)
Plan:
1512424
Heating:
Baseboard
New Constr.:
No
Construction Material:
Wood Frame
Structure Type:
Low Rise (2-4 stories)
Ensuite:
No
Flooring:
Carpet, Ceramic Tile, Laminate
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Off Street, Parkade, Stall, Underground
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
In Unit
HOA Fee:
$267.75
Condo Fee Frequency:
Monthly
Z-name Not Listed
Midnapore
Beach Access, Elevator(s), Park, Parking, Playground, Racquet Courts, Snow Removal, Storage, Trash, Visitor Parking
Dishwasher, Dryer, Electric Stove, Microwave Hood Fan, Refrigerator, Washer
N/A
Pet Restrictions or Board approval Required
Restrictions, Yes
Floor
Type
Size
Other
Main Floor
Balcony
11'2" × 6'8"
Main Floor
Entrance
7'9" × 3'9"
Main Floor
Kitchen With Eating Area
11'8" × 10'11"
Main Floor
Living Room
11'3" × 7'10"
Main Floor
Laundry
4'11" × 3'3"
Main Floor
Bedroom - Primary
9'8" × 8'8"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
4'11" x 8'8"
Title to Land:
Fee Simple
Community Features:
Lake, Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Tennis Court(s), Walking/Bike Paths
Interior Features:
Breakfast Bar, Built-in Features, Ceiling Fan(s), No Animal Home, No Smoking Home
Exterior Features:
Balcony
Patio And Porch Features:
Balcony(s)
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone S
Zoning:
M-C1
Listed Date:
Jun 19, 2024
Days on Mkt:
36
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Listed by TREC The Real Estate Company
Data was last updated September 29, 2024 at 04:05 AM (UTC)
Diane Richardson
Cell: 403-397-3706