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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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  2. Phone Number: Call me directly at 403.397.3706 with any questions or to schedule viewings.

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403 3316 Rideau Place SW
Rideau Park Calgary T2S 1Z4

$404,999
Residential beds: 1 baths: 1.0 746 sq. ft. built: 1955

Spacious one bedrooms are not built like this anymore.
Photo 1: 403 3316 Rideau Place SW in Calgary: Rideau Park Apartment for sale : MLS®# A2142016
Photo 2: 403 3316 Rideau Place SW in Calgary: Rideau Park Apartment for sale : MLS®# A2142016
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Photo 42: 403 3316 Rideau Place SW in Calgary: Rideau Park Apartment for sale : MLS®# A2142016
Photo 43: 403 3316 Rideau Place SW in Calgary: Rideau Park Apartment for sale : MLS®# A2142016
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2142016
Bedrooms:
1
Bathrooms:
1
Year Built:
1955
Welcome to your stylish sanctuary on the 4th floor in the heart of Rideau Park! This serene condo nestled on 13 acres offers a perfect blend of tranquility and convenience. Step into the spacious living room and take in the stunning view of the private green space and distant city skyline. Freshly updated, the kitchen features updated cabinets, counters, & SS appliances ensuring modern comfort. The generous one-bedroom layout is bright and airy, accommodating a king-size bed and furniture with ease, complemented by two spacious closets for ample storage. Additional in-unit storage and a large locker on the lower level provide even more space. Just steps from your door, enjoy access to the heated outdoor pool (for a yearly fee), perfect for relaxing on sunny days, and paved pathways leading to the nearby Elbow River for leisurely walks. Privacy is paramount with private green spaces between buildings ensuring exclusivity. Don't miss this rare opportunity to own a piece of paradise on the 4th floor in Rideau Park, within walking distance to Mission, Stanley Park, and a plethora of amenities. Schedule a viewing today and embrace urban living at its finest in your new home sweet home.
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:
746.16 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$646.00
Condo Fee Includes:
Caretaker, Common Area Maintenance, Heat, Insurance, Parking, Professional Management, Reserve Fund Contributions, Sewer, Snow Removal, 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:
West
Reg. Size:
Reg. Size Includes:
Unit Exposure:
Northeast
Floor Location:
Other
Entry Level:
4
Stories Total:
6
Levels:
Single Level Unit
End Unit:
2+ Common Walls
Total Rooms Above Grade:
4
Year built:
1955 (Age: 69)
Bedrooms:
1 (Above Grd: 1)
Bedrooms Above Grade:
1
Bedrooms Below Grade:
0
Bathrooms:
1.0 (Full:1, Half:0)
Plan:
7510321
Heating:
Hot Water, Natural Gas
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Brick, Concrete, Wood Siding
Structure Type:
High Rise (5+ stories)
Ensuite:
No
Flooring:
Laminate
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Assigned, Enclosed, Secured, Underground
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
Common Area, Laundry Room, See Remarks
Condo Fee Frequency:
Monthly
Rutland House
Rideau Park
Elevator(s), Laundry, Outdoor Pool, Party Room, Recreation Room, Secured Parking, Storage, Visitor Parking
Built-In Gas Range, Dishwasher, Disposal, Freezer, Garage Control(s), Refrigerator
N/A
Board Approval, Pet Restrictions or Board approval Required
Restrictions
Floor
Type
Size
Other
Main Floor
Kitchen
10' × 8'5"
Main Floor
Living/Dining Room Combination
23'4" × 12'3"
Main Floor
Bedroom - Primary
15'10" × 10'9"
Main Floor
Foyer
7'4" × 6'5"
Main Floor
Balcony
31'8" × 4'6"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
4'9" x 7'2"
Title to Land:
Fee Simple
Community Features:
Park, Pool, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
Chandelier, No Smoking Home, Pantry, Quartz Counters, Storage
Exterior Features:
Balcony, None, Storage
Patio And Porch Features:
Balcony(s)
Pool Features:
In Ground, Outdoor Pool
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone CC
Zoning:
M-H2
Listed Date:
Jun 20, 2024
Days on Mkt:
  • Photo 1: 403 3316 Rideau Place SW in Calgary: Rideau Park Apartment for sale : MLS®# A2142016
    Spacious one bedrooms are not built like this anymore.
  • Photo 2: 403 3316 Rideau Place SW in Calgary: Rideau Park Apartment for sale : MLS®# A2142016
    King size bedroom set, no problem.
  • Photo 3: 403 3316 Rideau Place SW in Calgary: Rideau Park Apartment for sale : MLS®# A2142016
    Summer time fun in your own community pool.
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    Open Kitchen perfect for entertaining.
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    Matching SS appliances.
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    Look at that VIEW of the city skyline. WOW!
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    The perfect balcony space to enjoy a cup of coffee or glass of wine.
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    Indoor Parking, Bonus.
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Listed by RE/MAX Real Estate (Central)
Data was last updated July 3, 2024 at 08:05 PM (UTC)
Area Statistics
Listings on market:
10
Avg list price:
$849,200
Min list price:
$359,900
Max list price:
$3,350,000
Avg days on market:
37
Min days on market:
13
Max days on market:
205
Avg price per sq.ft.:
$612.37
These statistics are generated based on the current listing's property type and located in Rideau Park. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706