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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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1501 703 Luxstone Square SW
Luxstone Airdrie T4B 0A4

$399,900
Residential beds: 4 baths: 3.0 1,186 sq. ft. built: 2005

Main Photo: 1501 703 Luxstone Square SW: Airdrie Row/Townhouse for sale : MLS®# A2177045
Photo 1: 1501 703 Luxstone Square SW: Airdrie Row/Townhouse for sale : MLS®# A2177045
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Photo 37: 1501 703 Luxstone Square SW: Airdrie Row/Townhouse for sale : MLS®# A2177045
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2177045
Bedrooms:
4
Bathrooms:
3
Year Built:
2005
Welcome to this captivating townhome in the established community of Luxstone where timeless charm and spirited active living blend wonderfully. With 4 bedrooms, complete with two parking stalls this home also offers an abundance of favorable lighting and a trendy open-concept floor plan encompassing a well-balanced sense of comfort and style. The natural light highlights the open living spaces, including a spacious kitchen and dining area, perfect for entertaining. The bedrooms provide a great space for private retreats while and the full finished basement has endless possibilities for creating memorable experiences and enjoying shared activities with friends and family. Great LOCATION! With many amenities such as close proximity to: cafes, grocery markets, parks and schools. Come view today!
Property Type:
Residential
Property Sub Type:
Row/Townhouse
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
2 Storey
Total Living Area:
1,186.1 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$266.45
Condo Fee Includes:
Common Area Maintenance, Insurance, Parking, Professional Management, Reserve Fund Contributions, Snow Removal, Trash
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:
East
Reg. Size:
Reg. Size Includes:
Entry Level:
1
Levels:
Two
End Unit:
1 Common Wall
Total Rooms Above Grade:
6
Year built:
2005 (Age: 19)
Bedrooms:
4 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
1
Bathrooms:
3.0 (Full:2, Half:1)
Plan:
0610630
Heating:
Forced Air, Natural Gas
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Vinyl Siding, Wood Frame
Structure Type:
Four Plex
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Carpet, Laminate
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Stall
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
In Basement
Condo Fee Frequency:
Monthly
Z-name Not Listed
Luxstone
Park, Trash, Visitor Parking
Dishwasher, Dryer, Electric Stove, Refrigerator, Washer
None
Board Approval, Condo/Strata Approval
Yes
Floor
Type
Size
Other
Main Floor
Entrance
4'7" × 3'10"
Main Floor
Living Room
17'11" × 14'9"
Main Floor
Kitchen
13'2" × 8'1"
Main Floor
Dining Room
8'10" × 6'9"
Main Floor
Pantry
4' × 4'
2nd Floor
Bedroom - Primary
13'7" × 11'11"
2nd Floor
Walk-In Closet
4'11" × 4'5"
2nd Floor
Bedroom
9'10" × 8'4"
2nd Floor
Bedroom
9'9" × 8'5"
Basement
Bedroom
10'5" × 7'11"
Basement
Game Room
14'8" × 12'9"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
2'7" x 5'1"
2nd Floor
No
4
6'2" x 7'9"
Basement
No
3
5'10" x 8'
Title to Land:
Fee Simple
Community Features:
Playground, Schools Nearby, Shopping Nearby, Sidewalks
Interior Features:
No Animal Home, No Smoking Home
Exterior Features:
Playground, Private Entrance
Patio And Porch Features:
Deck
Lot Features:
Low Maintenance Landscape, No Neighbours Behind, Private
Num. of Parcels:
0
Fencing:
None
Region:
Airdrie
Zoning:
R2-T
Listed Date:
Nov 02, 2024
Days on Mkt:
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Listed by First Place 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