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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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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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16 Ridgegate Way SW
Ridgegate Airdrie T4B 1B1

$565,000
Residential beds: 3 baths: 3.0 1,056 sq. ft. built: 1979

Main Photo: 16 Ridgegate Way SW: Airdrie Detached for sale : MLS®# A2167145
Photo 1: 16 Ridgegate Way SW: Airdrie Detached for sale : MLS®# A2167145
Photo 2: 16 Ridgegate Way SW: Airdrie Detached for sale : MLS®# A2167145
Photo 3: 16 Ridgegate Way SW: Airdrie Detached for sale : MLS®# A2167145
Photo 4: 16 Ridgegate Way SW: Airdrie Detached for sale : MLS®# A2167145
Photo 5: 16 Ridgegate Way SW: Airdrie Detached for sale : MLS®# A2167145
Photo 6: 16 Ridgegate Way SW: Airdrie Detached for sale : MLS®# A2167145
Photo 7: 16 Ridgegate Way SW: Airdrie Detached for sale : MLS®# A2167145
Photo 8: 16 Ridgegate Way SW: Airdrie Detached for sale : MLS®# A2167145
Photo 9: 16 Ridgegate Way SW: Airdrie Detached for sale : MLS®# A2167145
Photo 10: 16 Ridgegate Way SW: Airdrie Detached for sale : MLS®# A2167145
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Photo 12: 16 Ridgegate Way SW: Airdrie Detached for sale : MLS®# A2167145
Photo 13: 16 Ridgegate Way SW: Airdrie Detached for sale : MLS®# A2167145
Photo 14: 16 Ridgegate Way SW: Airdrie Detached for sale : MLS®# A2167145
Photo 15: 16 Ridgegate Way SW: Airdrie Detached for sale : MLS®# A2167145
Photo 16: 16 Ridgegate Way SW: Airdrie Detached for sale : MLS®# A2167145
Photo 17: 16 Ridgegate Way SW: Airdrie Detached for sale : MLS®# A2167145
Photo 18: 16 Ridgegate Way SW: Airdrie Detached for sale : MLS®# A2167145
Photo 19: 16 Ridgegate Way SW: Airdrie Detached for sale : MLS®# A2167145
Photo 20: 16 Ridgegate Way SW: Airdrie Detached for sale : MLS®# A2167145
Photo 21: 16 Ridgegate Way SW: Airdrie Detached for sale : MLS®# A2167145
Photo 22: 16 Ridgegate Way SW: Airdrie Detached for sale : MLS®# A2167145
Photo 23: 16 Ridgegate Way SW: Airdrie Detached for sale : MLS®# A2167145
Photo 24: 16 Ridgegate Way SW: Airdrie Detached for sale : MLS®# A2167145
Photo 25: 16 Ridgegate Way SW: Airdrie Detached for sale : MLS®# A2167145
Photo 26: 16 Ridgegate Way SW: Airdrie Detached for sale : MLS®# A2167145
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2167145
Bedrooms:
3
Bathrooms:
3
Year Built:
1979
Incredibly located just 2 doors from Nose Creek Park encouraging tranquil walks on the expansive pathway that winds alongside the creek. Want something more urban? This unsurpassable location has the best of both worlds! Walk out your front door in the other direction and bam you’re on Main Street with endless shops, restaurants, services and amenities. Then come home to a quiet sanctuary with a heated garage! This charming home is well maintained with great bones and tons of potential with many upgrades already completed. The roof shingles, vinyl siding, eves troughs and downspouts on both the house and garage were replaced in 2015 plus extra insulation was added. New natural gas hot water heater (2018), Telus internet Fibre Drop installed (2019), 2 bathroom fans replaced (2019/2021) and the upper level carpet was replaced with durable laminate in 2 bedrooms and the hallway (2023). Natural light streams into the living and dining rooms from extra south-facing windows illuminating the hardwood floors and creating a bright and airy gathering and entertaining space. The kitchen is well laid out with a plethora of cabinets and drawers plus corner windows for seemingly infinite sunlight. Retreat at the end of the day to the upper level primary bedroom with its own private ensuite, no need to share with the kids! Both additional bedrooms are spacious with easy access to the 4-piece bathroom. Put your feet up and relax in front the floor-to-ceiling brick encased fireplace in the family room. A separate flex area is great for a home office or study space. French doors lead to the backyard oasis promoting a seamless indoor/outdoor lifestyle. And there is still a fully finished basement with a huge rec room and included billiard table and shuffleboard for friendly games nights with friends and family. Enjoy casual barbeques and time spent unwinding in the backyard privately nestled behind the HEATED double detached garage with an extra long drive for loads of additional parking or an RV. Opportunity is knocking, don’t miss your chance at this solid home in an unbeatable location!
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
4 Level Split
Total Living Area:
1,056 sq. ft.
Main Level Finished Area:
1,056 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
1,006 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
4,999 sq. ft.
Lot Frontage:
50'
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:
Levels:
4 Level Split
Total Rooms Above Grade:
6
Year built:
1979 (Age: 45)
Bedrooms:
3 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
0
Bathrooms:
3.0 (Full:3, Half:0)
Plan:
7911057
Heating:
Forced Air, Natural Gas
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Brick, Vinyl Siding, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Hardwood, Laminate, Tile
Cooling:
None
Fireplaces:
1
Fireplace Details:
Brick Facing, Gas
Garage:
1
Garage Spaces:
2
Parking:
Additional Parking, Double Garage Detached, Driveway, Heated Garage, Insulated
Parking Places:
5.0
Parking Total/Covered:
5 / -
Laundry Features:
Lower Level
Ridgegate
Dishwasher, Dryer, Electric Stove, Garage Control(s), Refrigerator, Washer, Window Coverings
Pool table, shuffleboard, electric lawn mower, dining room table and chairs, central vacuum as-is, garbage compactor as-is, fireplace as-is
Restrictive Covenant, Utility Right Of Way
Floor
Type
Size
Other
Main Floor
Living/Dining Room Combination
25' × 16'8"
Main Floor
Kitchen
11'9" × 11'8"
Main Floor
Foyer
6'1" × 4'2"
Upper Level
Bedroom - Primary
13'3" × 11'4"
Upper Level
Bedroom
11' × 9'3"
Upper Level
Bedroom
11' × 9'11"
Lower Level
Family Room
26'11" × 13'3"
Lower Level
Laundry
5'9" × 5'1"
Basement
Game Room
22'7" × 3'
Basement
Walk-In Closet
7'7" × 5'9"
Basement
Storage
12'8" × 5'9"
Basement
Storage
10'10" × 6'1"
Floor
Ensuite
Pieces
Other
Upper Level
Yes
3
Upper Level
No
4
Lower Level
No
3
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Walking/Bike Paths
Interior Features:
Ceiling Fan(s), Central Vacuum, See Remarks, Soaking Tub, Storage
Exterior Features:
Private Yard
Patio And Porch Features:
Patio
Lot Features:
Back Yard, Creek/River/Stream/Pond, Landscaped, Many Trees
Num. of Parcels:
0
Fencing:
Fenced
Region:
Airdrie
Zoning:
R1
Listed Date:
Sep 23, 2024
Days on Mkt:
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3D Tour

Listed by First Place Realty
Data was last updated November 13, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
387
Avg list price:
$599,900
Min list price:
$200,000
Max list price:
$1,749,900
Avg days on market:
36
Min days on market:
1
Max days on market:
287
Avg price per sq.ft.:
$360.43
These statistics are generated based on the current listing's property type and located in Airdrie. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706