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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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729 MANDALAY Avenue NW
NONE Carstairs T0M 0N0

$659,000
Residential beds: 3 baths: 3.0 2,217 sq. ft. built: 2024

similar model only
Photo 1: 729 MANDALAY Avenue NW: Carstairs Detached for sale : MLS®# A2141164
Photo 2: 729 MANDALAY Avenue NW: Carstairs Detached for sale : MLS®# A2141164
Photo 3: 729 MANDALAY Avenue NW: Carstairs Detached for sale : MLS®# A2141164
Photo 4: 729 MANDALAY Avenue NW: Carstairs Detached for sale : MLS®# A2141164
Photo 5: 729 MANDALAY Avenue NW: Carstairs Detached for sale : MLS®# A2141164
Photo 6: 729 MANDALAY Avenue NW: Carstairs Detached for sale : MLS®# A2141164
Photo 7: 729 MANDALAY Avenue NW: Carstairs Detached for sale : MLS®# A2141164
Photo 8: 729 MANDALAY Avenue NW: Carstairs Detached for sale : MLS®# A2141164
Photo 9: 729 MANDALAY Avenue NW: Carstairs Detached for sale : MLS®# A2141164
Photo 10: 729 MANDALAY Avenue NW: Carstairs Detached for sale : MLS®# A2141164
Photo 11: 729 MANDALAY Avenue NW: Carstairs Detached for sale : MLS®# A2141164
Photo 12: 729 MANDALAY Avenue NW: Carstairs Detached for sale : MLS®# A2141164
Photo 13: 729 MANDALAY Avenue NW: Carstairs Detached for sale : MLS®# A2141164
Photo 14: 729 MANDALAY Avenue NW: Carstairs Detached for sale : MLS®# A2141164
Photo 15: 729 MANDALAY Avenue NW: Carstairs Detached for sale : MLS®# A2141164
Photo 16: 729 MANDALAY Avenue NW: Carstairs Detached for sale : MLS®# A2141164
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2141164
Bedrooms:
3
Bathrooms:
3
Year Built:
2024
Welcome to CARSTAIRS AND A NEWLY BUILT HOME ! THIS 2 Story HOME is in a COUNTRY SMALL TOWN , with all the modern community amenities . TWO MAJOR HIGHWAYS lead you to THE CALGARY AIRPORT IN 37 min ; as well , as farm fresh produce within 5 min s. THIS community offers an ARENA with full seating surround , both for ice skating and roller skating and a fitness center and an indoor walking track. Outdoor football fields and baseball diamonds throughout the town . Yes we have TIM HORTONS for the family, a Classic Italian eatery , plus Chinese and Vietnamese restaurants . The Carstairs Golf Club features an all day breakfast plus an open menu to satisfy your family's taste buds. There is a second arena for the Curling Club and a venue for community activities . More service clubs are on line such as the ROYAL CANADIAN Legion also the CARSTAIRS COMMUNITY CENTRE to name a few. NOW for your Newly Built Home , this home ushers you into the attached triple (3) car garage with auto doors and remotes, then inside access to the home with the private entrance. The mud room offers shoe storage and open closets for all types of jackets and hoodies . Through the pantry and into the open kitchen with 9 foot ceilings , a huge center Island with a quartz counter top, that includes all counter tops throughout the home . The Family room offers a fire place with built in shelves and mantle. The Kitchen features appliances of your choice by way of a builders allowance of $7000.00 dollar credit toward your purchase selection . Your Main floor has a den or office of your own , A walk through Pantry with shelves to a sun burst breakfast and dining room with access to a large 15 foot deck and stairs to your rear yard . The Center Island comes with an under counter double sink plus sitting area for 4 chairs. The front entrance offers a concrete Landing & porch leading into a large foyer includes a closet . The foyer also leads to a hall access toward the garage man door and a Powder room . The second level stair access is open below to the foyer. Upper level comes with a beautiful Bonus Room to enjoy those cozy winter movie nights for all. Upper level Laundry . You will enjoy a spa like Master Bedroom a organized walk in Closet, also with quartz counter top and a double sink , a separate shower and a separate jet tub . Most of all ,you have a private water closet for those private moments . The Master has a Raised Tray Ceiling . Large windows throughout. Attached is a copy of the floor plans for your perusal and remember you can choose your own colors and carpets as well as flooring choice s from the builders own inventory selections . Further you can consult with the builder as to your other needs during construction phase. #3 bathrooms / attached triple garage/ gas fire place / your choice of finishing' s as noted above. All photos are a similar display as to the actual finished home with reversed plan. Display purposes only
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:
2,216.69 sq. ft.
Main Level Finished Area:
1,000 sq. ft.
Upper Level Finished Area:
1,216.69 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
5,324 sq. ft.
Lot Frontage:
44'
Lot Details:
44 x 121
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:
Northwest
Reg. Size:
Reg. Size Includes:
Unit Exposure:
Northwest
Floor Location:
Ground
Levels:
Two
Total Rooms Above Grade:
8
Year built:
2024 (Age: 0)
Bedrooms:
3 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
0
Bathrooms:
3.0 (Full:2, Half:1)
Plan:
PLANxxxXXX
Heating:
High Efficiency, Fireplace(s), Natural Gas
Basement:
Full, Unfinished
Foundation:
Poured Concrete
Builder:
ARPIT DRYWALL LTD
New Constr.:
Yes
Construction Material:
Composite Siding, Concrete, Silent Floor Joists, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Ceramic Tile, See Remarks, Vinyl Plank, Wood
Cooling:
Rough-In
Fireplaces:
1
Fireplace Details:
Family Room, Gas, Mantle
Garage:
1
Garage Spaces:
3
Parking:
Concrete Driveway, Garage Door Opener, See Remarks, Triple Garage Attached
Parking Places:
6.0
Parking Total/Covered:
6 / -
Laundry Features:
Upper Level
NONE
Built-In Gas Range, Built-In Oven, Dishwasher, Dryer, ENERGY STAR Qualified Appliances, ENERGY STAR Qualified Refrigerator, Garage Control(s), Microwave, Range Hood, Washer, Washer/Dryer
FIRE PLACE AUTO GARAGE DOOR OPENERS C/W CONTROLS
See Remarks, Underground Utility Right of Way, Utility Right Of Way
Floor
Type
Size
Other
Main Floor
Kitchen
15' × 14'6"
Main Floor
Family Room
15' × 14'1"
Main Floor
Den
9'7" × 8'6"
Main Floor
Foyer
14'1" × 9'2"
Main Floor
Nook
13'1" × 7'8"
Main Floor
Pantry
7' × 5'
Main Floor
Mud Room
9'2" × 5'5"
2nd Floor
Bedroom - Primary
15'1" × 13'5"
2nd Floor
Walk-In Closet
11'2" × 5'
2nd Floor
Laundry
12'6" × 5'5"
2nd Floor
Bedroom
11'2" × 10'5"
2nd Floor
Bedroom
13'6" × 10'2"
2nd Floor
Bonus Room
19'7" × 12'
Floor
Ensuite
Pieces
Other
Main Floor
No
2
5'1" x 5'8"
2nd Floor
Yes
5
9'10" x 12'6"
2nd Floor
No
4
5'4" x 13'6"
Title to Land:
Fee Simple
Community Features:
Park, Schools Nearby, Shopping Nearby, Walking/Bike Paths
Interior Features:
Double Vanity, Jetted Tub
Exterior Features:
Private Entrance, Private Yard
Patio And Porch Features:
Deck, Porch
Lot Features:
Back Yard, Lawn, Level, Street Lighting, Paved, See Remarks
Num. of Parcels:
0
Fencing:
None
Region:
Mountain View County
Zoning:
RESIDENTIAL
Listed Date:
Jun 12, 2024
Days on Mkt:
  • Photo 1: 729 MANDALAY Avenue NW: Carstairs Detached for sale : MLS®# A2141164
    similar model only
  • Photo 2: 729 MANDALAY Avenue NW: Carstairs Detached for sale : MLS®# A2141164
    Family room
  • Photo 3: 729 MANDALAY Avenue NW: Carstairs Detached for sale : MLS®# A2141164
    Nook or Dining
  • Photo 4: 729 MANDALAY Avenue NW: Carstairs Detached for sale : MLS®# A2141164
    CABINETS AND RANGEE TOP
  • Photo 5: 729 MANDALAY Avenue NW: Carstairs Detached for sale : MLS®# A2141164
    Center Island
  • Photo 6: 729 MANDALAY Avenue NW: Carstairs Detached for sale : MLS®# A2141164
    Choose your Lights
  • Photo 7: 729 MANDALAY Avenue NW: Carstairs Detached for sale : MLS®# A2141164
    Kitchen cabinets &BUILT INS
  • Photo 8: 729 MANDALAY Avenue NW: Carstairs Detached for sale : MLS®# A2141164
    Future rec room
  • Photo 9: 729 MANDALAY Avenue NW: Carstairs Detached for sale : MLS®# A2141164
    Arena
  • Photo 10: 729 MANDALAY Avenue NW: Carstairs Detached for sale : MLS®# A2141164
    subdivision plan
  • Photo 11: 729 MANDALAY Avenue NW: Carstairs Detached for sale : MLS®# A2141164
    Carstairs Elementary School
  • Photo 12: 729 MANDALAY Avenue NW: Carstairs Detached for sale : MLS®# A2141164
    Golf Club
  • Photo 13: 729 MANDALAY Avenue NW: Carstairs Detached for sale : MLS®# A2141164
    Park Gazebo
  • Photo 14: 729 MANDALAY Avenue NW: Carstairs Detached for sale : MLS®# A2141164
    Churches to Worship
  • Photo 15: 729 MANDALAY Avenue NW: Carstairs Detached for sale : MLS®# A2141164
    Tim Hortons
  • Photo 16: 729 MANDALAY Avenue NW: Carstairs Detached for sale : MLS®# A2141164
    Skate Board Park
Listed by RE/MAX Real Estate (Central)
Data was last updated November 14, 2024 at 04:05 PM (UTC)
Area Statistics
Listings on market:
37
Avg list price:
$641,999
Min list price:
$399,000
Max list price:
$999,000
Avg days on market:
50
Min days on market:
2
Max days on market:
155
Avg price per sq.ft.:
$323.23
These statistics are generated based on the current listing's property type and located in Carstairs. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706