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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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229 Mahogany Parade SE
Mahogany Calgary T3M 2J9

$699,900
Residential beds: 3 baths: 3.0 1,972 sq. ft. built: 2017

Main Photo: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
Photo 1: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
Photo 2: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
Photo 3: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
Photo 4: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
Photo 5: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
Photo 6: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
Photo 7: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
Photo 8: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
Photo 9: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
Photo 10: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
Photo 11: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
Photo 12: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
Photo 13: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
Photo 14: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
Photo 15: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
Photo 16: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
Photo 17: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
Photo 18: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
Photo 19: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
Photo 20: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
Photo 21: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
Photo 22: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
Photo 23: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
Photo 24: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
Photo 25: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
Photo 26: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
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Photo 30: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
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Photo 32: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
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Photo 38: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
Photo 39: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
Photo 40: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
Photo 41: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
Photo 42: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
Photo 43: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
Photo 44: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
Photo 45: 229 Mahogany Parade SE in Calgary: Mahogany Detached for sale : MLS®# A2177108
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2177108
Bedrooms:
3
Bathrooms:
3
Year Built:
2017
Welcome to your new family home in Mahogany, one of Calgary's most desirable lake communities. This spacious 3-bedroom, 2.5-bath detached home, complete with a double detached garage, offers nearly 2,000 square feet of comfortable living space, ideal for families looking to settle down. As you enter, you are greeted by a large foyer that leads into an inviting living room, perfect for family gatherings and entertaining friends. Adjacent to the living area, the generous dining space is designed for memorable meals together. The gourmet kitchen is the highlight of the home, featuring an abundance of counter space and storage, beautiful cabinetry and upgraded hood fan over the gas range; making it a chef's dream. A convenient ½ bath on the main floor adds practicality for family life, while the pass-through at the back door, which also serves as a mudroom area, is perfect for easily transferring grocery bags or BBQ supplies. Upstairs, you will find a master bedroom that serves as a true sanctuary, complete with an ensuite featuring double sinks, a full-sized tiled shower, and a spacious walk-in closet. Two additional bedrooms provide plenty of room for kids, ensuring everyone has their own space. The upper level also features another full bath for added convenience. Plus, there is a bonus room, ideal for a TV room or play area where the kids can unwind after school. On the main level, another versatile flex room awaits, perfect for a home office or a study area for homework. The home also includes an unfinished basement with a rough-in for a bathroom, offering opportunities for customization and additional living space as your family grows. Step outside to enjoy your back deck, perfect for summer barbecues and family gatherings, and a landscaped yard, big enough for a trampoline. Living in Mahogany means your family has access to Calgary's largest freshwater lake, where you can spend weekends swimming, paddle-boarding, or enjoying sandy beaches. The community is known for its parks, over 74 acres of natural wetlands, and an extensive network of walking and biking trails—great for outdoor adventures and family outings. This home is located within walking distance to the Lake and Spider Park. Convenience is just around the corner with Mahogany Village Market, featuring shops, dining options, and essential services, making family life easy and enjoyable. You'll appreciate quick access to major roadways, such as 52nd St. and Stoney Trail. Transit stops and schools are close by, ensuring an easy routine for your busy family. This home offers a unique living experience that is perfect for families looking for a friendly and active community. Come see this wonderful family home today and discover the lifestyle that awaits you in Mahogany!
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:
1,972 sq. ft.
Main Level Finished Area:
986 sq. ft.
Upper Level Finished Area:
986 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
986 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Frequency:
Annually
HOA Fee Includes:
Lot Area:
3,509 sq. ft.
Lot Frontage:
38'4"
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:
Southwest
Reg. Size:
Reg. Size Includes:
Unit Exposure:
Northeast
Levels:
Two
Total Rooms Above Grade:
8
Year built:
2017 (Age: 7)
Bedrooms:
3 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
0
Bathrooms:
3.0 (Full:2, Half:1)
Plan:
1510478
Heating:
High Efficiency, Forced Air, Natural Gas
Basement:
Full, Unfinished
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Cement Fiber Board, Stone
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Ceramic Tile, Laminate
Cooling:
None
Fireplaces:
0
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Detached, Garage Faces Rear, Oversized
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
Laundry Room, Upper Level
HOA Fee:
$582.00
Mahogany
Beach Access, Boating, Clubhouse, Game Court Interior, Park, Picnic Area, Playground, Racquet Courts, Recreation Facilities, Recreation Room
Dishwasher, Garage Control(s), Gas Range, Microwave, Range Hood, Refrigerator, Washer/Dryer, Window Coverings
Curtains & Rods, 2 wall shelves in Kitchen, TV wall mount in Primary Bedroom.
None Known
Floor
Type
Size
Other
Main Floor
Foyer
7'3" × 6'5"
Main Floor
Living Room
16' × 13'
Main Floor
Dining Room
12'7" × 12'5"
Main Floor
Kitchen
16' × 9'9"
Main Floor
Flex Space
9' × 6'1"
Main Floor
Mud Room
14'1" × 6'
2nd Floor
Bedroom - Primary
16' × 12'3"
2nd Floor
Bedroom
10'1" × 10'
2nd Floor
Bedroom
10' × 10'
2nd Floor
Bonus Room
9'2" × 9'
2nd Floor
Laundry
8'1" × 6'1"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
5'9" x 5'
2nd Floor
Yes
4
11'2" x 9'7"
2nd Floor
No
4
8'9" x 4'11"
Title to Land:
Fee Simple
Community Features:
Clubhouse, Fishing, Lake, Park, Playground, Schools Nearby, Shopping Nearby, Walking/Bike Paths
Interior Features:
Bathroom Rough-in, Breakfast Bar, Double Vanity, High Ceilings, Kitchen Island, No Animal Home, No Smoking Home, Pantry, Quartz Counters, Walk-In Closet(s)
Exterior Features:
BBQ gas line
Patio And Porch Features:
Deck
Lot Features:
Back Lane, Back Yard, Zero Lot Line
Num. of Parcels:
0
Outbuildings:
None
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone SE
Zoning:
R-G
Listed Date:
Nov 07, 2024
Days on Mkt:
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    Flex Room
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    ½ Bath
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    Pantry & Coat Closet
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    Mudroom with Pass Thru to Kitchen
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    Main Level
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    Bonus Room
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    Upper Level
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Virtual Tour

Listed by CIR Realty
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
105
Avg list price:
$673,900
Min list price:
$284,999
Max list price:
$2,795,000
Avg days on market:
37
Min days on market:
1
Max days on market:
376
Avg price per sq.ft.:
$455.77
These statistics are generated based on the current listing's property type and located in Mahogany. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706