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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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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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72 Shannon Gardens SW
Shawnessy Calgary T2Y 4L7

$739,900
Residential beds: 4 baths: 4.0 2,042 sq. ft. built: 2003

Main Photo: 72 Shannon Gardens SW in Calgary: Shawnessy Detached for sale : MLS®# A2159464
Photo 1: 72 Shannon Gardens SW in Calgary: Shawnessy Detached for sale : MLS®# A2159464
Photo 2: 72 Shannon Gardens SW in Calgary: Shawnessy Detached for sale : MLS®# A2159464
Photo 3: 72 Shannon Gardens SW in Calgary: Shawnessy Detached for sale : MLS®# A2159464
Photo 4: 72 Shannon Gardens SW in Calgary: Shawnessy Detached for sale : MLS®# A2159464
Photo 5: 72 Shannon Gardens SW in Calgary: Shawnessy Detached for sale : MLS®# A2159464
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Photo 8: 72 Shannon Gardens SW in Calgary: Shawnessy Detached for sale : MLS®# A2159464
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Photo 38: 72 Shannon Gardens SW in Calgary: Shawnessy Detached for sale : MLS®# A2159464
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Photo 40: 72 Shannon Gardens SW in Calgary: Shawnessy Detached for sale : MLS®# A2159464
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2159464
Bedrooms:
4
Bathrooms:
4
Year Built:
2003
Click brochure link for more details**. As you enter this meticulously maintained home, you will be greeted with high ceilings and formal living and dining rooms. The den/office has a great location near the entry, with a half bath just a few steps away. This home has an open concept family room with gas fireplace, kitchen with corner pantry, granite countertops, and spacious eating area. The large windows allow for lots of natural light and beautiful views. Moving outside from the eating area you can relax on your west facing deck with stairs to access the large back yard, complete with a storage shed, fire pit, and apple tree. Upstairs you will be amazed by the size of the master bedroom, with his and her closets, and en-suite five piece bathroom. Two additional bedrooms, a full bathroom, and laundry room with linen closet, complete the upstairs. The basement is fully finished and has large daylight windows, a large family room with built-in entertainment centre, gas fireplace, and wet bar. A fourth bedroom, another full bathroom, and storage space are all part of this beautiful, well laid out basement. The house was recently updated with new siding, soft metals, eaves troughs, downspouts, exterior paint, new water heater, and added attic insulation in 2024. New roof in 2021. The house also has central AC! Conveniently located with parks, schools, shopping, YMCA, bus stop, and C-train station, all close by!
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:
2,042.2 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
5,199 sq. ft.
Lot Frontage:
24'5"
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:
East
Reg. Size:
Reg. Size Includes:
Levels:
Two
Total Rooms Above Grade:
8
Year built:
2003 (Age: 21)
Bedrooms:
4 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
1
Bathrooms:
4.0 (Full:3, Half:1)
Plan:
0212466
Heating:
Forced Air
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
See Remarks, Vinyl Siding
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Hardwood, Tile
Cooling:
Central Air
Fireplaces:
2
Fireplace Details:
Gas
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Attached
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
Upper Level
Shawnessy
See Remarks
Call seller directly. Basement fridge & freezer included.
Call Lister
Floor
Type
Size
Other
Main Floor
Living Room
14'1" × 11'
Main Floor
Dining Room
12'4" × 8'11"
Main Floor
Den
10'2" × 8'11"
Main Floor
Family Room
15'5" × 15'1"
Main Floor
Kitchen
11'11" × 11'11"
Upper Level
Bedroom - Primary
19'6" × 11'4"
Upper Level
Bedroom
11'11" × 10'3"
Upper Level
Bedroom
12'6" × 8'11"
Basement
Game Room
23'11" × 17'6"
Basement
Bedroom
12'3" × 9'9"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
Upper Level
No
4
Upper Level
Yes
5
Basement
No
4
Title to Land:
Fee Simple
Community Features:
Playground, Walking/Bike Paths
Interior Features:
Built-in Features, Kitchen Island, See Remarks
Exterior Features:
Balcony, Fire Pit
Patio And Porch Features:
Balcony(s)
Lot Features:
Back Yard, Fruit Trees/Shrub(s)
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone S
Zoning:
R-C1N
Listed Date:
Aug 22, 2024
Days on Mkt:
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Listed by Honestdoor Inc.
Data was last updated November 10, 2024 at 02:05 PM (UTC)
Area Statistics
Listings on market:
21
Avg list price:
$600,000
Min list price:
$289,900
Max list price:
$739,900
Avg days on market:
24
Min days on market:
1
Max days on market:
80
Avg price per sq.ft.:
$388.42
These statistics are generated based on the current listing's property type and located in Shawnessy. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706