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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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74 Discovery Heights SW
Discovery Ridge Calgary T3H 4Y6

$619,900
Residential beds: 3 baths: 3.0 1,589 sq. ft. built: 2000

Main Photo: 74 Discovery Heights SW in Calgary: Discovery Ridge Row/Townhouse for sale : MLS®# A2218014
Photo 1: 74 Discovery Heights SW in Calgary: Discovery Ridge Row/Townhouse for sale : MLS®# A2218014
Photo 2: 74 Discovery Heights SW in Calgary: Discovery Ridge Row/Townhouse for sale : MLS®# A2218014
Photo 3: 74 Discovery Heights SW in Calgary: Discovery Ridge Row/Townhouse for sale : MLS®# A2218014
Photo 4: 74 Discovery Heights SW in Calgary: Discovery Ridge Row/Townhouse for sale : MLS®# A2218014
Photo 5: 74 Discovery Heights SW in Calgary: Discovery Ridge Row/Townhouse for sale : MLS®# A2218014
Photo 6: 74 Discovery Heights SW in Calgary: Discovery Ridge Row/Townhouse for sale : MLS®# A2218014
Photo 7: 74 Discovery Heights SW in Calgary: Discovery Ridge Row/Townhouse for sale : MLS®# A2218014
Photo 8: 74 Discovery Heights SW in Calgary: Discovery Ridge Row/Townhouse for sale : MLS®# A2218014
Photo 9: 74 Discovery Heights SW in Calgary: Discovery Ridge Row/Townhouse for sale : MLS®# A2218014
Photo 10: 74 Discovery Heights SW in Calgary: Discovery Ridge Row/Townhouse for sale : MLS®# A2218014
Photo 11: 74 Discovery Heights SW in Calgary: Discovery Ridge Row/Townhouse for sale : MLS®# A2218014
Photo 12: 74 Discovery Heights SW in Calgary: Discovery Ridge Row/Townhouse for sale : MLS®# A2218014
Photo 13: 74 Discovery Heights SW in Calgary: Discovery Ridge Row/Townhouse for sale : MLS®# A2218014
Photo 14: 74 Discovery Heights SW in Calgary: Discovery Ridge Row/Townhouse for sale : MLS®# A2218014
Photo 15: 74 Discovery Heights SW in Calgary: Discovery Ridge Row/Townhouse for sale : MLS®# A2218014
Photo 16: 74 Discovery Heights SW in Calgary: Discovery Ridge Row/Townhouse for sale : MLS®# A2218014
Photo 17: 74 Discovery Heights SW in Calgary: Discovery Ridge Row/Townhouse for sale : MLS®# A2218014
Photo 18: 74 Discovery Heights SW in Calgary: Discovery Ridge Row/Townhouse for sale : MLS®# A2218014
Photo 19: 74 Discovery Heights SW in Calgary: Discovery Ridge Row/Townhouse for sale : MLS®# A2218014
Photo 20: 74 Discovery Heights SW in Calgary: Discovery Ridge Row/Townhouse for sale : MLS®# A2218014
Photo 21: 74 Discovery Heights SW in Calgary: Discovery Ridge Row/Townhouse for sale : MLS®# A2218014
Photo 22: 74 Discovery Heights SW in Calgary: Discovery Ridge Row/Townhouse for sale : MLS®# A2218014
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2218014
Bedrooms:
3
Bathrooms:
3
Year Built:
2000
LOCATION! Private, treed townhome adjacent to walking trails in Griffin Park Environmental Reserve and Elbow River with all the amenities of Discovery Ridge, which include tennis courts, a hockey rink and soccer field, skating rink and a shopping area. The home has over 2100 square feet of living space with 3 generous bedrooms upstairs; an ensuite and walk-in closet in the primary bedroom, plus another full bathroom. The main floor living room features a cozy gas fireplace, open kitchen and dining area. All NEW kitchen appliances plus plenty of cupboard space, an L-Shape island with eating bar and access to the deck and private, treed, back yard. Also on the main floor is an office space facing the front of the home and ½ bathroom and large laundry closet. Please note: the washer/dryer may be downstairs now, but can easily be moved upstairs for accessibility. Downstairs has a large developed area available for a gym, home theater etc. and has bright full sized windows to the back yard and tons of storage. Recent upgrades include brand new vinyl flooring on all three floors, a brand new refrigerator, and a range, dishwasher, and hot water tank all new within the past 3 years. The two car garage is attached with two more parking spaces outside. Easy 20 minute drive to downtown, quick access to Stoney Trail, Glenmore Trail. Sarcee Trail, and Springbank. There is a shuttle bus at 69 St. to the Westhills Recreation Centre and the LRT. The property is professionally managed and well maintained, and includes snow removal, grass cutting, landscaping and waste disposal. A quiet nature lover's neighborhood with estate homes across the street. A great home for a family or a long term investment with fabulous accessibility to all of Calgary via the 201!
Property Type:
Residential
Property Sub Type:
Row/Townhouse
Condo Type:
Conventional Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
2 Storey
Total Living Area:
1,588.92 sq. ft.
Main Level Finished Area:
759.31 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
698.66 sq. ft.
Taxes:
Tax Assessed Value:
Condo Fee:
$526.07
Condo Fee Includes:
Common Area Maintenance, Insurance, Maintenance Grounds, Parking, Professional Management, Reserve Fund Contributions, Snow Removal, Trash
HOA Fee Frequency:
Annually
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:
Entry Level:
1
Levels:
Two
End Unit:
2+ Common Walls
Total Rooms Above Grade:
7
Year built:
2000 (Age: 25)
Bedrooms:
3 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
0
Bathrooms:
3.0 (Full:2, Half:1)
Plan:
0012843
Heating:
Forced Air, Natural Gas
Basement:
Full, Partially Finished
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Cedar, Stone, Vinyl Siding, Wood Frame
Structure Type:
Triplex
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Laminate
Cooling:
None
Fireplaces:
1
Fireplace Details:
Gas
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Attached, Off Street
Parking Places:
4
Parking Total/Covered:
4 / -
Laundry Features:
In Basement, Lower Level, Main Level
HOA Fee:
$300.00
Condo Fee Frequency:
Monthly
Discovery Heights
Discovery Ridge
Playground, Recreation Facilities, Snow Removal, Visitor Parking
Dishwasher, Dryer, Microwave, Range Hood, Refrigerator, See Remarks, Stove(s), Washer
N/A
Pet Restrictions or Board approval Required
Restrictions
Floor
Type
Size
Other
Main Floor
Living Room
13'5" × 12'2"
Main Floor
Kitchen
10'6" × 10'6"
Main Floor
Dining Room
10'2" × 6'9"
Main Floor
Office
10'6" × 8'7"
Main Floor
Laundry
8'11" × 5'10"
2nd Floor
Bedroom - Primary
13'5" × 12'3"
2nd Floor
Bedroom
11'11" × 11'7"
2nd Floor
Bedroom
11'6" × 9'9"
Basement
Game Room
22'11" × 15'3"
Basement
Furnace/Utility Room
23'10" × 13'11"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
4'10" x 8'11"
Upper Level
No
4
4'10" x 7'11"
2nd Floor
Yes
4
9'10" x 10'7"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Tennis Court(s), Walking/Bike Paths
Interior Features:
Ceiling Fan(s), Central Vacuum, Closet Organizers, High Ceilings, Kitchen Island, No Smoking Home, Pantry, Storage
Exterior Features:
Other
Patio And Porch Features:
Deck
Lot Features:
Backs on to Park/Green Space, Cul-De-Sac, Environmental Reserve, Few Trees, Street Lighting
Num. of Parcels:
0
Fencing:
Partial
Region:
Calgary
Zone:
CAL Zone W
Zoning:
M-G d39
Listed Date:
May 05, 2025
Days on Mkt:
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Listed by TREC The Real Estate Company
Data was last updated May 19, 2025 at 10:05 PM (UTC)
Area Statistics
Listings on market:
14
Avg list price:
$839,450
Min list price:
$339,500
Max list price:
$1,690,000
Avg days on market:
35
Min days on market:
5
Max days on market:
102
Avg price per sq.ft.:
$453.47
These statistics are generated based on the current listing's property type and located in Discovery Ridge. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706