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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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18 Masters Villas SE
Mahogany Calgary T3M 2N4

$895,000
Residential beds: 5 baths: 4.0 2,404 sq. ft. built: 2017

Main Photo: 18 Masters Villas SE in Calgary: Mahogany Detached for sale : MLS®# A2164920
Photo 1: 18 Masters Villas SE in Calgary: Mahogany Detached for sale : MLS®# A2164920
Photo 2: 18 Masters Villas SE in Calgary: Mahogany Detached for sale : MLS®# A2164920
Photo 3: 18 Masters Villas SE in Calgary: Mahogany Detached for sale : MLS®# A2164920
Photo 4: 18 Masters Villas SE in Calgary: Mahogany Detached for sale : MLS®# A2164920
Photo 5: 18 Masters Villas SE in Calgary: Mahogany Detached for sale : MLS®# A2164920
Photo 6: 18 Masters Villas SE in Calgary: Mahogany Detached for sale : MLS®# A2164920
Photo 7: 18 Masters Villas SE in Calgary: Mahogany Detached for sale : MLS®# A2164920
Photo 8: 18 Masters Villas SE in Calgary: Mahogany Detached for sale : MLS®# A2164920
Photo 9: 18 Masters Villas SE in Calgary: Mahogany Detached for sale : MLS®# A2164920
Photo 10: 18 Masters Villas SE in Calgary: Mahogany Detached for sale : MLS®# A2164920
Photo 11: 18 Masters Villas SE in Calgary: Mahogany Detached for sale : MLS®# A2164920
Photo 12: 18 Masters Villas SE in Calgary: Mahogany Detached for sale : MLS®# A2164920
Photo 13: 18 Masters Villas SE in Calgary: Mahogany Detached for sale : MLS®# A2164920
Photo 14: 18 Masters Villas SE in Calgary: Mahogany Detached for sale : MLS®# A2164920
Photo 15: 18 Masters Villas SE in Calgary: Mahogany Detached for sale : MLS®# A2164920
Photo 16: 18 Masters Villas SE in Calgary: Mahogany Detached for sale : MLS®# A2164920
Photo 17: 18 Masters Villas SE in Calgary: Mahogany Detached for sale : MLS®# A2164920
Photo 18: 18 Masters Villas SE in Calgary: Mahogany Detached for sale : MLS®# A2164920
Photo 19: 18 Masters Villas SE in Calgary: Mahogany Detached for sale : MLS®# A2164920
Photo 20: 18 Masters Villas SE in Calgary: Mahogany Detached for sale : MLS®# A2164920
Photo 21: 18 Masters Villas SE in Calgary: Mahogany Detached for sale : MLS®# A2164920
Photo 22: 18 Masters Villas SE in Calgary: Mahogany Detached for sale : MLS®# A2164920
Photo 23: 18 Masters Villas SE in Calgary: Mahogany Detached for sale : MLS®# A2164920
Photo 24: 18 Masters Villas SE in Calgary: Mahogany Detached for sale : MLS®# A2164920
Photo 25: 18 Masters Villas SE in Calgary: Mahogany Detached for sale : MLS®# A2164920
Photo 26: 18 Masters Villas SE in Calgary: Mahogany Detached for sale : MLS®# A2164920
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2164920
Bedrooms:
5
Bathrooms:
4
Year Built:
2017
Welcome to this beautifully designed, fully air-conditioned 5-bedroom home, perfectly situated in the heart of Mahogany. Nestled in a quiet cul-de-sac with tons of guest parking, this stunning residence is within walking distance to the exclusive Mahogany Beach Club, offering the ideal blend of convenience and tranquility. Step inside to discover a spacious and open-concept floorplan, perfect for modern family living. The main floor features a welcoming foyer that leads to a charming front office, ideal for those working from home. The gourmet kitchen is a chef’s dream, boasting quartz countertops, a central island, and a large eating bar. The dining room, bathed in natural light from large south-facing windows, easily accommodates seating for eight, while the adjacent living room offers a cozy fireplace, creating the perfect space for entertaining or unwinding. Upstairs, a thoughtfully designed central bonus room provides separation between the master suite and the additional bedrooms, ensuring privacy for all. The master bedroom is an elegant retreat, complete with dual walk-in closets, his-and-hers double sinks, a luxurious soaker tub, and a spacious walk-in shower. The upper level also features three generously sized bedrooms, another double sink bathroom, and a conveniently located laundry room. The fully finished basement boasts 9’ high ceilings and is piping-ready for future minibar development. A massive recreation room provides ample space for family gatherings or movie nights, and a fifth bedroom and bathroom offer comfortable accommodations for guests or an older teen. This home is completed with hardy board siding, cable-ready for future solar system development and features a tankless water system for efficiency as well as triple pane south facing windows. Less than a 10-minute drive to South Health Campus. Accessible via Deerfoot Trail/Stoney Trail, the location is unbeatable. You’ll also enjoy the amenitiy rich commercial areas in less than 2 minutes. Outside, the large backyard deck with a gas line to the BBQ.offers the perfect space for outdoor entertaining, and the attached garage adds extra convenience. With its prime location, generous space, and luxurious features, this home is a true gem. Enjoy the Mahogany lifestyle year round with swimming, fishing, ice skating basket ball, an indoor gymnasium and more!. Don't miss the opportunity to make it yours!
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:
2,404 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Frequency:
Annually
HOA Fee Includes:
Lot Area:
3,971 sq. ft.
Lot Frontage:
32'10"
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:
Two
Total Rooms Above Grade:
9
Year built:
2017 (Age: 7)
Bedrooms:
5 (Above Grd: 4)
Bedrooms Above Grade:
4
Bedrooms Below Grade:
1
Bathrooms:
4.0 (Full:3, Half:1)
Plan:
1810048
Heating:
Forced Air
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Cement Fiber Board, Composite Siding, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Vinyl Plank
Cooling:
None
Fireplaces:
1
Fireplace Details:
Gas
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Attached
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
Laundry Room
HOA Fee:
$525.00
Mahogany
None
Dishwasher, Dryer, Microwave, Refrigerator, Stove(s), Washer
Window Coverings
None Known
Floor
Type
Size
Other
Main Floor
Dining Room
12'11" × 11'
Main Floor
Living Room
14'8" × 12'
Main Floor
Den
9'5" × 5'7"
Main Floor
Kitchen
13'1" × 10'8"
Main Floor
Pantry
0 × 0
Upper Level
Bonus Room
13'11" × 11'7"
Upper Level
Laundry
8'8" × 6'3"
Upper Level
Bedroom - Primary
15'1" × 11'4"
Upper Level
Bedroom
11'8" × 11'1"
Upper Level
Bedroom
15'1" × 9'2"
Upper Level
Bedroom
13'3" × 9'4"
Basement
Family Room
23'7" × 16'6"
Basement
Furnace/Utility Room
13'9" × 8'10"
Basement
Bedroom
10'10" × 10'7"
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:
Clubhouse, Lake, Playground, Schools Nearby, Shopping Nearby, Walking/Bike Paths
Interior Features:
Breakfast Bar, Double Vanity, High Ceilings, Kitchen Island, No Animal Home, No Smoking Home, Pantry, Soaking Tub, Tankless Hot Water
Exterior Features:
BBQ gas line
Patio And Porch Features:
Deck
Lot Features:
Back Yard, Interior Lot
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone SE
Zoning:
R-1
Listed Date:
Sep 13, 2024
Days on Mkt:
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    Masterbath HER sink
  • Photo 11: 18 Masters Villas SE in Calgary: Mahogany Detached for sale : MLS®# A2164920
    Master bath
  • Photo 12: 18 Masters Villas SE in Calgary: Mahogany Detached for sale : MLS®# A2164920
    HIS sink
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  • Photo 15: 18 Masters Villas SE in Calgary: Mahogany Detached for sale : MLS®# A2164920
    Bonus room
  • Photo 16: 18 Masters Villas SE in Calgary: Mahogany Detached for sale : MLS®# A2164920
    3rd upper bedroom
  • Photo 17: 18 Masters Villas SE in Calgary: Mahogany Detached for sale : MLS®# A2164920
    Basement bedroom
  • Photo 18: 18 Masters Villas SE in Calgary: Mahogany Detached for sale : MLS®# A2164920
    Basement
  • Photo 19: 18 Masters Villas SE in Calgary: Mahogany Detached for sale : MLS®# A2164920
    Basedment rec room
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Listed by KIC 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