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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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8522 47 Avenue NW
Bowness Calgary T3B 1Z9

$869,000
Residential beds: 4 baths: 4.0 1,994 sq. ft. built: 2024

Main Photo: 8522 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2128522
Photo 1: 8522 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2128522
Photo 2: 8522 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2128522
Photo 3: 8522 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2128522
Photo 4: 8522 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2128522
Photo 5: 8522 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2128522
Photo 6: 8522 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2128522
Photo 7: 8522 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2128522
Photo 8: 8522 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2128522
Photo 9: 8522 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2128522
Photo 10: 8522 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2128522
Photo 11: 8522 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2128522
Photo 12: 8522 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2128522
Photo 13: 8522 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2128522
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2128522
Bedrooms:
4
Bathrooms:
4
Year Built:
2024
Welcome to two custom built, semi-detached, fully developed infill homes with a total of four bedrooms plus three and a half baths per side, constructed by a quality local builder located in a fantastic west Bowness location! The fine accoutrements and finishing details for these two, fully developed 2,933 sqft of luxurious living space is unsurpassed and will be sure to please the most discerning buyers! Some of the select special features included on the main floor are a gorgeous sun drenched south exposed open floor plan including soaring 9ft ceilings, the exceptional chef's kitchen with a stainless appliance package and an eleven foot quartz covered center island! The upstairs features three good sized bedrooms, a convenient laundry room c/w sink, luxurious and grand owner suite, highlighted by a 5-pce ensuite spa-like retreat, including a separate tub and shower, plus a generous walk-in closet. The fully developed lower level includes nine foot ceilings, the fourth bedroom, a massive games/family room, 5 pce bath (with two sinks), wet bar and much more. The maintenance free exterior and low maintenance yard is always a positive to promote more free time for a busy lifestyle! This an amazing inner city location only steps to the Bow river and Bow river pathways (this area did not flood in 2013). Only a couple blocks to Bowness park and Bowmont park, an off-leash dog park, only 5 minutes away from two hospitals and the U of C, quick access to Stoney Trail and west to the Rocky Mountains. A short drive to the new Superstore, Trinity Hills shopping and the Greenwich Farmer's Market and a quick commute to downtown. Completion is expected by the middle of July, 2024.
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:
1,993.7 sq. ft.
Main Level Finished Area:
946.16 sq. ft.
Upper Level Finished Area:
1,047.54 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
939.8 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
3,001 sq. ft.
Lot Frontage:
25'
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:
South
Reg. Size:
Reg. Size Includes:
Entry Level:
1
Levels:
Two
End Unit:
1 Common Wall
Total Rooms Above Grade:
7
Year built:
2024 (Age: 0)
Bedrooms:
4 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
1
Bathrooms:
4.0 (Full:3, Half:1)
Plan:
TBD
Heating:
Forced Air, Natural Gas
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
Yes
Construction Material:
Composite Siding, Stucco, Wood Frame
Structure Type:
Duplex
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Ceramic Tile, Vinyl
Cooling:
Rough-In
Fireplaces:
1
Fireplace Details:
Gas, Great Room
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Detached
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
Upper Level
Bowness
Built-In Oven, Dishwasher, Garage Control(s), Gas Cooktop, Microwave, Refrigerator
N/A
None Known
Floor
Type
Size
Other
Main Floor
Living Room
15'3" × 13'5"
Main Floor
Kitchen
17' × 13'8"
Main Floor
Dining Room
13'6" × 11'3"
Main Floor
Mud Room
9'8" × 4'10"
2nd Floor
Loft
10'11" × 8'9"
2nd Floor
Bedroom - Primary
15'11" × 13'6"
2nd Floor
Bedroom
12'6" × 9'11"
2nd Floor
Bedroom
11'4" × 9'11"
2nd Floor
Laundry
8'11" × 5'
Lower Level
Game Room
19'9" × 19'2"
Lower Level
Bedroom
13'11" × 11'5"
Lower Level
Furnace/Utility Room
8'10" × 7'1"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
0' x 0'
2nd Floor
No
4
0' x 0'
2nd Floor
Yes
5
0' x 0'
Lower Level
No
5
0' x 0'
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Walking/Bike Paths
Interior Features:
Bar, Built-in Features, Central Vacuum, Closet Organizers, High Ceilings, Kitchen Island, No Smoking Home, Storage, Vinyl Windows, Walk-In Closet(s), Wired for Sound
Exterior Features:
Private Yard
Patio And Porch Features:
Patio
Lot Features:
Back Lane, Back Yard, Front Yard, Landscaped, Rectangular Lot
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone NW
Zoning:
R-C2
Listed Date:
May 03, 2024
Days on Mkt:
  • Photo 1: 8522 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2128522
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  • Photo 2: 8522 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2128522
    Photo 2 of 13
  • Photo 3: 8522 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2128522
    Photo 3 of 13
  • Photo 4: 8522 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2128522
    Photo 4 of 13
  • Photo 5: 8522 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2128522
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  • Photo 6: 8522 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2128522
    Photo 6 of 13
  • Photo 7: 8522 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2128522
    Photo 7 of 13
  • Photo 8: 8522 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2128522
    Photo 8 of 13
  • Photo 9: 8522 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2128522
    Photo 9 of 13
  • Photo 10: 8522 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2128522
    Photo 10 of 13
  • Photo 11: 8522 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2128522
    Photo 11 of 13
  • Photo 12: 8522 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2128522
    Photo 12 of 13
  • Photo 13: 8522 47 Avenue NW in Calgary: Bowness Semi Detached (Half Duplex) for sale : MLS®# A2128522
    Photo 13 of 13
Listed by RE/MAX Real Estate (Central)
Data was last updated June 29, 2024 at 10:05 AM (UTC)
Area Statistics
Listings on market:
23
Avg list price:
$798,000
Min list price:
$344,900
Max list price:
$1,580,000
Avg days on market:
23
Min days on market:
1
Max days on market:
535
Avg price per sq.ft.:
$514.21
These statistics are generated based on the current listing's property type and located in Bowness. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706