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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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3904 1001 8 Street NW
Williamstown Airdrie T4B 0W7

$392,000
Residential beds: 3 baths: 3.0 1,235 sq. ft. built: 2011

Main Photo: 3904 1001 8 Street NW: Airdrie Row/Townhouse for sale : MLS®# A2172299
Photo 1: 3904 1001 8 Street NW: Airdrie Row/Townhouse for sale : MLS®# A2172299
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Photo 3: 3904 1001 8 Street NW: Airdrie Row/Townhouse for sale : MLS®# A2172299
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Photo 5: 3904 1001 8 Street NW: Airdrie Row/Townhouse for sale : MLS®# A2172299
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Photo 27: 3904 1001 8 Street NW: Airdrie Row/Townhouse for sale : MLS®# A2172299
Photo 28: 3904 1001 8 Street NW: Airdrie Row/Townhouse for sale : MLS®# A2172299
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2172299
Bedrooms:
3
Bathrooms:
3
Year Built:
2011
Welcome to the Trails in Williamstown, where this beautifully designed 3-bedroom, 2.5-bathroom townhome invites you to enjoy modern living in a peaceful setting. As you step inside, you’ll be greeted by an open-concept layout featuring stunning laminate flooring and 9-foot ceilings, offering a spacious and flexible living area. The bright, inviting kitchen boasts granite countertops, stainless steel appliances, a corner pantry, and plenty of room to prepare meals while entertaining guests. The adjacent dining space can be used for family meals or transformed into a convenient home office area. Upstairs, the large primary bedroom includes a walk-in closet, while two additional bedrooms provide plenty of space for family or guests. Need more space? The fully developed basement boasts a spacious rec room, perfect for entertainment, relaxation, or a home gym. Additionally, the basement includes a full bathroom for convenience and a separate laundry room, offering added functionality for day-to-day living or hosting extended family. Step outside onto your private patio, ideal for morning coffee or summer BBQs. With a playground just steps away and access to walking paths along the nearby environmental reserve, this home combines tranquility with convenience. Residents enjoy the convenience of two parking passes—one assigned to a specific parking stall and the other available for first-come, first-served parking, ensuring flexibility for both you and your guests. With its close proximity to schools, shopping, and public transportation, this community offers the perfect setting to raise a family and create lasting memories.
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:
1,234.52 sq. ft.
Main Level Finished Area:
616.07 sq. ft.
Upper Level Finished Area:
618.45 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
591.98 sq. ft.
Taxes:
Tax Assessed Value:
Condo Fee:
$276.78
Condo Fee Includes:
Common Area Maintenance, Insurance, Maintenance Grounds, Professional Management, Reserve Fund Contributions
HOA Fee Includes:
Lot Area:
1,599 sq. ft.
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:
Unit Exposure:
South
Floor Location:
Ground
Entry Level:
1
Levels:
Two
End Unit:
2+ Common Walls
Total Rooms Above Grade:
6
Year built:
2011 (Age: 13)
Bedrooms:
3 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
0
Bathrooms:
3.0 (Full:2, Half:1)
Plan:
1013311
Heating:
Forced Air, Natural Gas
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Vinyl Siding, Wood Frame
Structure Type:
Five Plus
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Carpet, Laminate
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Assigned, Stall
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
In Basement, Laundry Room
Condo Fee Frequency:
Monthly
Trails
Williamstown
Park, Parking, Playground, Snow Removal
Dishwasher, Electric Range, Microwave Hood Fan, Range Hood, Refrigerator
N/A
None Known
Restrictions, Cats OK, Dogs OK
Floor
Type
Size
Other
Main Floor
Living Room
18'11" × 15'2"
Main Floor
Kitchen
12'3" × 11'4"
Main Floor
Dining Room
8'3" × 6'2"
Upper Level
Bedroom - Primary
14' × 12'2"
Upper Level
Bedroom
9'10" × 8'8"
Upper Level
Bedroom
9'11" × 8'7"
Basement
Game Room
25'9" × 17'7"
Basement
Storage
6'2" × 3'11"
Basement
Furnace/Utility Room
11' × 3'11"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
5'1" x 5'10"
Upper Level
No
4
6'2" x 8'1"
Basement
No
3
8'1" x 5'9"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby
Interior Features:
Granite Counters, No Animal Home, No Smoking Home, Open Floorplan
Exterior Features:
None
Patio And Porch Features:
Deck
Lot Features:
Backs on to Park/Green Space, Low Maintenance Landscape, Street Lighting
Num. of Parcels:
0
Fencing:
Partial
Region:
Airdrie
Zoning:
R2-T
Listed Date:
Oct 10, 2024
Days on Mkt:
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Listed by CIR Realty
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
377
Avg list price:
$599,900
Min list price:
$200,000
Max list price:
$1,749,900
Avg days on market:
37
Min days on market:
1
Max days on market:
254
Avg price per sq.ft.:
$360.94
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