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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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309 Ranch Close
The Ranch_Strathmore Strathmore T1P 0B5

$649,900
Residential beds: 6 baths: 4.0 2,299 sq. ft. built: 2008

Main Photo: 309 Ranch Close: Strathmore Detached for sale : MLS®# A2155698
Photo 1: 309 Ranch Close: Strathmore Detached for sale : MLS®# A2155698
Photo 2: 309 Ranch Close: Strathmore Detached for sale : MLS®# A2155698
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Photo 33: 309 Ranch Close: Strathmore Detached for sale : MLS®# A2155698
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2155698
Bedrooms:
6
Bathrooms:
4
Year Built:
2008
OPEN HOUSE' September 14, 2024 : 1 PM - 4 PM. Welcome to Your Family's Dream Home in The Ranch, Strathmore! Discover the perfect blend of luxury and family-friendly living in the coveted community of The Ranch in Strathmore. This custom-built masterpiece is more than just a house; it’s a home designed to cater to every member of your family. With an impressive 6 bedrooms, including a lavish master retreat complete with an ensuite bath and walk-in closet, there’s plenty of room for everyone. The huge bonus room provides the perfect space for family activities and relaxation. Step inside to find tiger hardwood flooring that guides you through spacious living areas and an expansive office space, ideal for remote work or creative pursuits. The seamless fusion of elegance and functionality ensures that your family can live comfortably and stylishly. The chef’s dream kitchen is perfect for preparing family meals, featuring quartz countertops, stainless steel appliances, and a convenient walk-through pantry for effortless organization. Gather in the sprawling living and dining areas, perfect for entertaining friends and family. The finished basement offers a cozy retreat for movie nights and gatherings, complete with heated floors to ensure year-round comfort. With approximately 3200 square feet of living space, there’s room for every occasion and celebration. A double-car garage provides secure parking, while the north-facing orientation bathes the home in natural light throughout the day. Proximity to schools, shopping, and other amenities ensures convenience at every turn. The Ranch in Strathmore is known for its welcoming atmosphere and strong sense of community, making it the perfect place to raise your family. Enjoy the best of both luxury and family-friendly living in this sought-after locale. Don’t miss your chance to experience the pinnacle of family living in Strathmore’s most desirable community. Your dream home awaits!
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
2 Storey
Total Living Area:
2,298.88 sq. ft.
Main Level Finished Area:
1,083.41 sq. ft.
Upper Level Finished Area:
1,215.46 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
5,745 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:
North
Reg. Size:
Reg. Size Includes:
Levels:
Two
Total Rooms Above Grade:
8
Year built:
2008 (Age: 16)
Bedrooms:
6 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
3
Bathrooms:
4.0 (Full:3, Half:1)
Plan:
0714215
Heating:
Fireplace(s), Forced Air
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Concrete, Mixed, Stone, Vinyl Siding, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Ceramic Tile, Hardwood
Cooling:
None
Fireplaces:
1
Fireplace Details:
Gas
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Attached, Off Street
Parking Places:
6.0
Parking Total/Covered:
6 / -
Laundry Features:
Upper Level
The Ranch_Strathmore
Dishwasher, Electric Range, Garage Control(s), Range Hood, Refrigerator, Washer/Dryer
N/A
None Known
Floor
Type
Size
Other
Main Floor
Kitchen
14'1" × 13'1"
Main Floor
Living Room
17'6" × 12'8"
Main Floor
Dining Room
13'5" × 10'6"
Main Floor
Office
10'10" × 10'
Upper Level
Laundry
9'6" × 4'11"
Upper Level
Bedroom - Primary
17' × 13'11"
Upper Level
Bonus Room
17'8" × 12'2"
Upper Level
Bedroom
10' × 10'
Upper Level
Bedroom
10'11" × 10'
Basement
Game Room
17'6" × 12'8"
Basement
Bedroom
10'6" × 9'4"
Basement
Bedroom
10'1" × 10'
Basement
Bedroom
14'9" × 10'1"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
4'10" x 6'1"
Upper Level
No
4
4'11" x 10'
Upper Level
Yes
4
11' x 14'11"
Basement
No
4
4'11" x 8'
Title to Land:
Fee Simple
Community Features:
Playground, Schools Nearby, Shopping Nearby, Sidewalks
Interior Features:
Ceiling Fan(s), Granite Counters, Kitchen Island, Pantry, Sump Pump(s), Walk-In Closet(s)
Exterior Features:
Fire Pit, Garden, Other
Patio And Porch Features:
Deck
Lot Features:
Irregular Lot
Num. of Parcels:
0
Fencing:
Fenced
Region:
Wheatland County
Zoning:
R1
Listed Date:
Aug 07, 2024
Days on Mkt:
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Listed by Greater Property Group
Data was last updated September 20, 2024 at 04:05 PM (UTC)
Area Statistics
Listings on market:
49
Avg list price:
$579,900
Min list price:
$125,000
Max list price:
$2,200,000
Avg days on market:
35
Min days on market:
1
Max days on market:
161
Avg price per sq.ft.:
$350.65
These statistics are generated based on the current listing's property type and located in Strathmore. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706