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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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2505 21 Street SW
Richmond Calgary T2T 5A9

$1,049,900
Residential beds: 4 baths: 4.0 2,257 sq. ft. built: 2013

Main Photo: 2505 21 Street SW in Calgary: Richmond Semi Detached (Half Duplex) for sale : MLS®# A2131934
Photo 1: 2505 21 Street SW in Calgary: Richmond Semi Detached (Half Duplex) for sale : MLS®# A2131934
Photo 2: 2505 21 Street SW in Calgary: Richmond Semi Detached (Half Duplex) for sale : MLS®# A2131934
Photo 3: 2505 21 Street SW in Calgary: Richmond Semi Detached (Half Duplex) for sale : MLS®# A2131934
Photo 4: 2505 21 Street SW in Calgary: Richmond Semi Detached (Half Duplex) for sale : MLS®# A2131934
Photo 5: 2505 21 Street SW in Calgary: Richmond Semi Detached (Half Duplex) for sale : MLS®# A2131934
Photo 6: 2505 21 Street SW in Calgary: Richmond Semi Detached (Half Duplex) for sale : MLS®# A2131934
Photo 7: 2505 21 Street SW in Calgary: Richmond Semi Detached (Half Duplex) for sale : MLS®# A2131934
Photo 8: 2505 21 Street SW in Calgary: Richmond Semi Detached (Half Duplex) for sale : MLS®# A2131934
Photo 9: 2505 21 Street SW in Calgary: Richmond Semi Detached (Half Duplex) for sale : MLS®# A2131934
Photo 10: 2505 21 Street SW in Calgary: Richmond Semi Detached (Half Duplex) for sale : MLS®# A2131934
Photo 11: 2505 21 Street SW in Calgary: Richmond Semi Detached (Half Duplex) for sale : MLS®# A2131934
Photo 12: 2505 21 Street SW in Calgary: Richmond Semi Detached (Half Duplex) for sale : MLS®# A2131934
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Photo 14: 2505 21 Street SW in Calgary: Richmond Semi Detached (Half Duplex) for sale : MLS®# A2131934
Photo 15: 2505 21 Street SW in Calgary: Richmond Semi Detached (Half Duplex) for sale : MLS®# A2131934
Photo 16: 2505 21 Street SW in Calgary: Richmond Semi Detached (Half Duplex) for sale : MLS®# A2131934
Photo 17: 2505 21 Street SW in Calgary: Richmond Semi Detached (Half Duplex) for sale : MLS®# A2131934
Photo 18: 2505 21 Street SW in Calgary: Richmond Semi Detached (Half Duplex) for sale : MLS®# A2131934
Photo 19: 2505 21 Street SW in Calgary: Richmond Semi Detached (Half Duplex) for sale : MLS®# A2131934
Photo 20: 2505 21 Street SW in Calgary: Richmond Semi Detached (Half Duplex) for sale : MLS®# A2131934
Photo 21: 2505 21 Street SW in Calgary: Richmond Semi Detached (Half Duplex) for sale : MLS®# A2131934
Photo 22: 2505 21 Street SW in Calgary: Richmond Semi Detached (Half Duplex) for sale : MLS®# A2131934
Photo 23: 2505 21 Street SW in Calgary: Richmond Semi Detached (Half Duplex) for sale : MLS®# A2131934
Photo 24: 2505 21 Street SW in Calgary: Richmond Semi Detached (Half Duplex) for sale : MLS®# A2131934
Photo 25: 2505 21 Street SW in Calgary: Richmond Semi Detached (Half Duplex) for sale : MLS®# A2131934
Photo 26: 2505 21 Street SW in Calgary: Richmond Semi Detached (Half Duplex) for sale : MLS®# A2131934
Photo 27: 2505 21 Street SW in Calgary: Richmond Semi Detached (Half Duplex) for sale : MLS®# A2131934
Photo 28: 2505 21 Street SW in Calgary: Richmond Semi Detached (Half Duplex) for sale : MLS®# A2131934
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2131934
Bedrooms:
4
Bathrooms:
4
Year Built:
2013
An inner city lifestyle infill like no other! Step away from cookie-cutter with this intelligently designed and completely original take on modern open concept living in Calgary. Panoramic mountain views! This unique layout allows for the square footage of a 3 storey home but in a less stair-heavy design. Built well above the standard building code and loaded with premium built-ins, extras, & features. Soaring 14’ & 10' ceilings with wide plank white oak hardwood floors. Exciting sunken living room design element & focal point steel beam open riser staircases clad in 10 mm glass panels. Entertainer’s dream kitchen with deluxe stainless steel appliances, quartz waterfall edge island & perimeter countertops, high gloss cabinetry, & built-in coffee maker. Upper level private master retreat with stunning vaulted ceiling & overhead skylight. Adjacent den/home office flex space. Incredible walk-in closet with built-ins. Spa inspired 5pc ensuite including separate deep soaker tub, 10 mil glass shower, in-floor heating, & dual vanity. Very unique separate split level off the main floor which is home to 3 more bedrooms & 2 full bathrooms including 1 ensuite. Lower basement level with huge media room with full length built-in & full bar with wine/beverage cooler. Many upgrades & extras including in-floor heating in bathrooms, 2 central A/C units, over-spec party wall construction, 18 foot tall concrete foundation wall, flat painted ceilings throughout, & multiple outdoor living spaces including large rear deck off the kitchen with sunny west exposure. Offering both city and mountain views! Full walkout lower level with separate entrance has the potential to be an easy separate rental unit conversion. Oversized double detached garage. The total package inner city lifestyle home for those looking for something unique!
Property Type:
Residential
Property Sub Type:
Semi Detached (Half Duplex)
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
2 Storey, Side by Side
Total Living Area:
2,257 sq. ft.
Main Level Finished Area:
752 sq. ft.
Upper Level Finished Area:
1,504 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
612 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
2,787 sq. ft.
Lot Frontage:
24'11"
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
Entry Level:
1
Levels:
Two
End Unit:
1 Common Wall
Total Rooms Above Grade:
8
Year built:
2013 (Age: 11)
Bedrooms:
4 (Above Grd: 4)
Bedrooms Above Grade:
4
Bedrooms Below Grade:
0
Bathrooms:
4.0 (Full:3, Half:1)
Plan:
1313147
Heating:
Forced Air, Natural Gas
Basement:
Separate/Exterior Entry, Finished, Full, Walk-Out To Grade
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Stucco
Structure Type:
Duplex
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Hardwood, Tile
Cooling:
Central Air
Fireplaces:
1
Fireplace Details:
Gas, Primary Bedroom
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Detached
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
Laundry Room
Richmond
Bar Fridge, Built-In Oven, Central Air Conditioner, Dishwasher, Dryer, Garage Control(s), Gas Cooktop, Microwave, Range Hood, Refrigerator, Washer, Window Coverings
n/a
None Known
Floor
Type
Size
Other
Main Floor
Living Room
13' × 10'4"
Main Floor
Kitchen
19'10" × 13'10"
Main Floor
Dining Room
19'9" × 14'3"
Main Floor
Bedroom
11'5" × 11'2"
Main Floor
Bedroom
11'9" × 11'2"
Main Floor
Bedroom
11'8" × 11'4"
Upper Level
Bedroom - Primary
17' × 15'9"
Upper Level
Office
12'11" × 10'1"
Lower Level
Media Room
19'8" × 19'2"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
0' x 0'
Main Floor
No
4
0' x 0'
Main Floor
Yes
3
0' x 0'
Upper Level
Yes
5
0' x 0'
Title to Land:
Fee Simple
Community Features:
Airport/Runway, Park, Playground, Pool, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Tennis Court(s), Walking/Bike Paths
Interior Features:
Bar, Built-in Features, High Ceilings, Kitchen Island, Quartz Counters, Separate Entrance, Skylight(s), Walk-In Closet(s)
Exterior Features:
Balcony, Private Yard
Patio And Porch Features:
Balcony(s), Deck
Lot Features:
Back Lane, Back Yard, Private, Rectangular Lot, Sloped, Views
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
R-C2
Listed Date:
May 14, 2024
Days on Mkt:
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Listed by RE/MAX Complete Realty
Data was last updated June 29, 2024 at 10:05 AM (UTC)
Area Statistics
Listings on market:
23
Avg list price:
$889,900
Min list price:
$265,990
Max list price:
$1,799,999
Avg days on market:
23
Min days on market:
2
Max days on market:
114
Avg price per sq.ft.:
$545.91
These statistics are generated based on the current listing's property type and located in Richmond. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706