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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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4 Burney Road
NONE Bragg Creek T0L 0K0

$919,900
Residential beds: 3 baths: 2.0 818 sq. ft. built: 1976

Main Photo: 4 Burney Road: Bragg Creek Detached for sale : MLS®# A2157016
Photo 1: 4 Burney Road: Bragg Creek Detached for sale : MLS®# A2157016
Photo 2: 4 Burney Road: Bragg Creek Detached for sale : MLS®# A2157016
Photo 3: 4 Burney Road: Bragg Creek Detached for sale : MLS®# A2157016
Photo 4: 4 Burney Road: Bragg Creek Detached for sale : MLS®# A2157016
Photo 5: 4 Burney Road: Bragg Creek Detached for sale : MLS®# A2157016
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Photo 7: 4 Burney Road: Bragg Creek Detached for sale : MLS®# A2157016
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Photo 41: 4 Burney Road: Bragg Creek Detached for sale : MLS®# A2157016
Photo 42: 4 Burney Road: Bragg Creek Detached for sale : MLS®# A2157016
Photo 43: 4 Burney Road: Bragg Creek Detached for sale : MLS®# A2157016
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2157016
Bedrooms:
3
Bathrooms:
2
Year Built:
1976
This exceptional property in the heart of Bragg Creek, offers impeccable condition and modern comfort. This home, meticulously maintained inside and out, features two spacious bedrooms upstairs and an additional bedroom downstairs, making it perfect for families or those who enjoy hosting guests. The living room is the centerpiece of the home, anchored by a striking wood-burning fireplace that not only adds warmth and ambiance but is also powerful enough to efficiently heat the entire main floor. This cozy space is ideal for relaxing after a day spent enjoying all that Bragg Creek has to offer, whether it’s exploring the nearby trails or simply soaking in the serene surroundings. The perfect country kitchen opens out to the back yard, has a new gas range and loads of cabinet space. On the lower level, this home includes an illegal suite with a separate entrance and a full kitchen, making it ideal for extended family, guests, or even potential rental income. The space adds a valuable layer of versatility, allowing you to tailor the set up to your needs, whether that means providing a private space for visitors or generating additional income to support your lifestyle. Outside, the property sits on a fully fenced half-acre lot, offering both privacy and plenty of room for outdoor activities, gardening, or simply enjoying the tranquility of rural living. The covered back porch is a perfect spot to unwind after a long day, providing a peaceful haven where you can relax and take in the beauty of your surroundings. A single attached garage is available and for those who need extra space, there’s a detach oversized double garage/workshop, providing ample room not just for vehicles but also for hobbies, storage, or whatever projects you may have in mind. This extra space is a true asset, offering flexibility and convenience for homeowners who value having a dedicated area for their passions or practical needs. The location of this property couldn’t be better. You’re just a short walk from Bragg Creek Provincial Park, where endless trails await for hiking, biking, or simply enjoying the great outdoors. The community center is also within easy reach, offering a hub for local activities and events that help to foster the close-knit, welcoming atmosphere that Bragg Creek is known for. Additionally, the local school is nearby, making this home an excellent choice for families with children. 4 Burney Road is also connected to water and sewer services, which brings modern convenience to this idyllic rural setting, ensuring that you can enjoy the best of both worlds: the peace and beauty of nature, with the comfort and reliability of city utilities. Recent improvements include new shingles and a new garage door, this home is truly move-in ready, offering peace of mind and ensuring that your investment is protected for years to come. It’s rare to find a property that offers such a perfect combination of location, condition, and amenities, making this home an exceptional opportunity.
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
Suite - Illegal
Home Style:
Acreage with Residence, Bungalow
Total Living Area:
818 sq. ft.
Main Level Finished Area:
818 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
705.76 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
21,344 sq. ft.
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:
Levels:
One
Total Rooms Above Grade:
4
Year built:
1976 (Age: 48)
Bedrooms:
3 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
1
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
7721 JK
Heating:
Forced Air, Natural Gas
Basement:
Separate/Exterior Entry, Finished, Full, Suite
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Vinyl Siding, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Carpet, Laminate
Cooling:
None
Fireplaces:
1
Fireplace Details:
Free Standing, Living Room, Raised Hearth, Wood Burning Stove
Garage:
1
Garage Spaces:
3
Parking:
220 Volt Wiring, Additional Parking, Covered, Double Garage Detached, Driveway, Enclosed, Garage Faces Front, Gated, Heated Garage, Insulated, Oversized, RV Access/Parking, Secured, See Remarks, Single Garage Attached
Parking Places:
6.0
Parking Total/Covered:
6 / -
Laundry Features:
In Basement
NONE
Dishwasher, Garage Control(s), Gas Range, Range Hood, Refrigerator, Washer/Dryer
2nd Stove, 2nd Fridge, 2nd Hood fan
None Known
Floor
Type
Size
Other
Main Floor
Living Room
15'1" × 11'9"
Main Floor
Kitchen
15'6" × 9'11"
Main Floor
Bedroom - Primary
11'10" × 11'7"
Main Floor
Bedroom
9'11" × 9'11"
Basement
Game Room
21'11" × 10'9"
Basement
Kitchenette
7'8" × 6'9"
Basement
Bedroom
11'3" × 11'2"
Basement
Laundry
13'11" × 9'3"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
4'11" x 7'6"
Basement
No
4
5' x 7'1"
Title to Land:
Fee Simple
Community Features:
Other, Park, Playground, Schools Nearby, Shopping Nearby
Interior Features:
Separate Entrance, Vinyl Windows
Exterior Features:
Fire Pit, Garden, Kennel, Private Entrance, Private Yard, Storage
Patio And Porch Features:
Deck, Patio, Porch, Rear Porch, See Remarks
Lot Features:
Front Yard, Lawn, Garden, Landscaped, Many Trees, Native Plants, Other, Private, Rectangular Lot, Secluded, See Remarks, Treed
Num. of Parcels:
0
Fencing:
Fenced
Region:
Rocky View County
Zoning:
HR1
Listed Date:
Aug 15, 2024
Days on Mkt:
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Listed by RE/MAX Realty Professionals
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
12
Avg list price:
$1,589,000
Min list price:
$899,900
Max list price:
$2,850,000
Avg days on market:
111
Min days on market:
20
Max days on market:
818
Avg price per sq.ft.:
$578.73
These statistics are generated based on the current listing's property type and located in Bragg Creek. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706