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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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730 Redstone Drive NE
Redstone Calgary T3N 1K9

$739,000
Residential beds: 5 baths: 4.0 1,766 sq. ft. built: 2017

Main Photo: 730 Redstone Drive NE in Calgary: Redstone Detached for sale : MLS®# A2165733
Photo 1: 730 Redstone Drive NE in Calgary: Redstone Detached for sale : MLS®# A2165733
Photo 2: 730 Redstone Drive NE in Calgary: Redstone Detached for sale : MLS®# A2165733
Photo 3: 730 Redstone Drive NE in Calgary: Redstone Detached for sale : MLS®# A2165733
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Status:
Active
Prop. Type:
Residential
MLS® Num:
A2165733
Bedrooms:
5
Bathrooms:
4
Year Built:
2017
Welcome to this beautiful home with 3 bedrooms, den and 2.5 baths on the main floor, offering over 2400 sq. ft. of total living space in the sought-after Redstone community. The open-concept layout connects the modern kitchen, featuring stainless steel appliances and a large island, to the bright dining and living areas, perfect for family gatherings and entertaining. A den on the main floor adds extra versatility and can easily be converted into a fourth bedroom. The basement includes an illegal suite, providing the flexibility for extended family, guests, or potential rental income. Additional features include: An oversized double garage, offering extra storage or workshop potential, high-end finishes throughout the home, a spacious backyard ideal for outdoor living, located in the vibrant Redstone community, this property is close to parks, schools, shopping, and public transportation, a water softener installed for improved water quality —making it an excellent choice for both families and investors. Don’t miss this opportunity to own a versatile home in Redstone – contact your favourite Realtor or myself to schedule your viewing today
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
Suite - Illegal
Home Style:
2 Storey
Total Living Area:
1,765.7 sq. ft.
Main Level Finished Area:
863.9 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
708.8 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Frequency:
Annually
HOA Fee Includes:
Lot Area:
3,255 sq. ft.
Lot Frontage:
28'1"
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:
Two
Total Rooms Above Grade:
8
Year built:
2017 (Age: 7)
Bedrooms:
5 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
2
Bathrooms:
4.0 (Full:3, Half:1)
Plan:
1810177
Heating:
Forced Air
Basement:
Separate/Exterior Entry, Finished, Full, Suite
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Stone, Vinyl Siding
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Vinyl Plank
Cooling:
None
Fireplaces:
0
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Detached
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
Multiple Locations
HOA Fee:
$126.00
Redstone
None
Dishwasher, Dryer, Electric Stove, Microwave, Refrigerator, Washer
None
None Known
Floor
Type
Size
Other
Main Floor
Kitchen
42'4" × 39'8"
Main Floor
Dining Room
42'4" × 36'5"
Main Floor
Living Room
51'10" × 39'4"
Main Floor
Mud Room
16'1" × 10'2"
Main Floor
Pantry
13'1" × 10'2"
Main Floor
Den
41' × 31'2"
Main Floor
Entrance
22' × 17'9"
Main Floor
Porch - Enclosed
31'2" × 19'4"
2nd Floor
Bedroom - Primary
45'3" × 44'3"
2nd Floor
Walk-In Closet
18'8" × 17'9"
2nd Floor
Bonus Room
44'11" × 43'4"
2nd Floor
Bedroom
33'2" × 30'6"
2nd Floor
Bedroom
33'2" × 30'6"
2nd Floor
Laundry
17'9" × 10'2"
Basement
Game Room
43' × 36'5"
Basement
Laundry
32'10" × 24'11"
Basement
Kitchen
32'6" × 26'7"
Basement
Pantry
15'1" × 5'7"
Basement
Bedroom
35'1" × 29'6"
Basement
Walk-In Closet
15'1" × 11'10"
Basement
Bedroom
35'1" × 27'7"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
18'4" x 13'6"
2nd Floor
Yes
4
13'6" x 37'5"
2nd Floor
No
4
13'6" x 27'7"
Basement
No
4
13'6" x 23'4"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights
Interior Features:
Kitchen Island, Open Floorplan, Separate Entrance
Exterior Features:
Private Yard
Patio And Porch Features:
Deck
Lot Features:
Back Lane, Back Yard
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone NE
Zoning:
R-2
Listed Date:
Sep 13, 2024
Days on Mkt:
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Listed by Confident Realty Inc
Data was last updated November 13, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
51
Avg list price:
$474,900
Min list price:
$258,888
Max list price:
$949,900
Avg days on market:
38
Min days on market:
1
Max days on market:
134
Avg price per sq.ft.:
$362.82
These statistics are generated based on the current listing's property type and located in Redstone. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706