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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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4831 48 Street
NONE Olds T4H 1E1

$499,900
Residential beds: 3 baths: 4.0 1,597 sq. ft. built: 2024

Main Photo: 4831 48 Street: Olds Semi Detached (Half Duplex) for sale : MLS®# A2176303
Photo 1: 4831 48 Street: Olds Semi Detached (Half Duplex) for sale : MLS®# A2176303
Photo 2: 4831 48 Street: Olds Semi Detached (Half Duplex) for sale : MLS®# A2176303
Photo 3: 4831 48 Street: Olds Semi Detached (Half Duplex) for sale : MLS®# A2176303
Photo 4: 4831 48 Street: Olds Semi Detached (Half Duplex) for sale : MLS®# A2176303
Photo 5: 4831 48 Street: Olds Semi Detached (Half Duplex) for sale : MLS®# A2176303
Photo 6: 4831 48 Street: Olds Semi Detached (Half Duplex) for sale : MLS®# A2176303
Photo 7: 4831 48 Street: Olds Semi Detached (Half Duplex) for sale : MLS®# A2176303
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2176303
Bedrooms:
3
Bathrooms:
4
Year Built:
2024
Discover modern living in this brand-new, under-construction two-storey duplex located close to the Olds College. With 1,598 square feet of thoughtfully designed space, this home is ideal for those seeking comfort and convenience. The main floor features a bright and spacious kitchen, perfect for creating meals and memories, alongside a dedicated dining room for family gatherings. A versatile flex room and a cozy great room provide plenty of space for both relaxation and productivity. A convenient 2-piece bathroom completes this level. Upstairs, you’ll find three well-sized bedrooms, including a primary bedroom, which is complemented by two additional bathrooms and a laundry room for added functionality. The lower level is in the process of being approved for creating a legal suite with two bedrooms, a four piece bath, a kitchen and a living room. What a great mortgage helper!
Property Type:
Residential
Property Sub Type:
Semi Detached (Half Duplex)
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
2 Storey, Side by Side
Total Living Area:
1,597 sq. ft.
Main Level Finished Area:
782 sq. ft.
Upper Level Finished Area:
815 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
763 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
2,208 sq. ft.
Lot Frontage:
18'4¾"
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:
Entry Level:
1
Levels:
Two
End Unit:
1 Common Wall
Total Rooms Above Grade:
6
Year built:
2024 (Age: 0)
Bedrooms:
3 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
0
Bathrooms:
4.0 (Full:3, Half:1)
Plan:
2211973
Heating:
Forced Air, Natural Gas
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
Yes
Construction Material:
Vinyl Siding
Structure Type:
Duplex
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Vinyl Plank
Cooling:
None
Fireplaces:
0
Garage:
1
Garage Spaces:
1
Parking:
Single Garage Attached
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
Upper Level
NONE
Dishwasher, Garage Control(s), Refrigerator, Stove(s)
NONE
None Known
Floor
Type
Size
Other
Main Floor
Kitchen
13' × 9'9"
Main Floor
Dining Room
10' × 9'8"
Main Floor
Great Room
13'5" × 10'
Main Floor
Flex Space
10' × 9'9"
2nd Floor
Bedroom - Primary
13'9" × 13'7"
2nd Floor
Laundry
3'4" × 3'2"
2nd Floor
Bedroom
11'6" × 10'
2nd Floor
Bedroom
11' × 10'
Lower Level
Furnace/Utility Room
7' × 3'
Floor
Ensuite
Pieces
Other
Main Floor
No
2
7'6" x 3'4"
2nd Floor
Yes
4
8'6" x 5'
2nd Floor
No
4
8'2" x 5'
Lower Level
No
4
10'3" x 5'
Title to Land:
Fee Simple
Community Features:
Playground, Schools Nearby, Shopping Nearby
Interior Features:
Quartz Counters, See Remarks
Exterior Features:
BBQ gas line, Private Entrance
Patio And Porch Features:
Deck, See Remarks
Lot Features:
Back Lane, Rectangular Lot, See Remarks
Num. of Parcels:
0
Fencing:
None
Region:
Mountain View County
Zoning:
RC-2
Listed Date:
Nov 04, 2024
Days on Mkt:
  • Photo 1: 4831 48 Street: Olds Semi Detached (Half Duplex) for sale : MLS®# A2176303
    Photo 1 of 7
  • Photo 2: 4831 48 Street: Olds Semi Detached (Half Duplex) for sale : MLS®# A2176303
    Photo 2 of 7
  • Photo 3: 4831 48 Street: Olds Semi Detached (Half Duplex) for sale : MLS®# A2176303
    Photo 3 of 7
  • Photo 4: 4831 48 Street: Olds Semi Detached (Half Duplex) for sale : MLS®# A2176303
    Photo 4 of 7
  • Photo 5: 4831 48 Street: Olds Semi Detached (Half Duplex) for sale : MLS®# A2176303
    Photo 5 of 7
  • Photo 6: 4831 48 Street: Olds Semi Detached (Half Duplex) for sale : MLS®# A2176303
    Photo 6 of 7
  • Photo 7: 4831 48 Street: Olds Semi Detached (Half Duplex) for sale : MLS®# A2176303
    Photo 7 of 7
Listed by CIR Realty
Data was last updated November 13, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
32
Avg list price:
$674,400
Min list price:
$219,000
Max list price:
$1,599,000
Avg days on market:
65
Min days on market:
4
Max days on market:
211
Avg price per sq.ft.:
$415.54
These statistics are generated based on the current listing's property type and located in Olds. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706