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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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272210 Range Road 291 NE
NONE Airdrie T4A 2V7

$3,299,000
Residential beds: 4 baths: 3.0 1,505 sq. ft. built: 1993

Main Photo: 272210 Range Road 291 NE: Airdrie Detached for sale : MLS®# A2081360
Photo 1: 272210 Range Road 291 NE: Airdrie Detached for sale : MLS®# A2081360
Photo 2: 272210 Range Road 291 NE: Airdrie Detached for sale : MLS®# A2081360
Photo 3: 272210 Range Road 291 NE: Airdrie Detached for sale : MLS®# A2081360
Photo 4: 272210 Range Road 291 NE: Airdrie Detached for sale : MLS®# A2081360
Photo 5: 272210 Range Road 291 NE: Airdrie Detached for sale : MLS®# A2081360
Photo 6: 272210 Range Road 291 NE: Airdrie Detached for sale : MLS®# A2081360
Photo 7: 272210 Range Road 291 NE: Airdrie Detached for sale : MLS®# A2081360
Photo 8: 272210 Range Road 291 NE: Airdrie Detached for sale : MLS®# A2081360
Photo 9: 272210 Range Road 291 NE: Airdrie Detached for sale : MLS®# A2081360
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Photo 34: 272210 Range Road 291 NE: Airdrie Detached for sale : MLS®# A2081360
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2081360
Bedrooms:
4
Bathrooms:
3
Year Built:
1993
Opportunity knocks! 40 Acres on pavement INSIDE northeast Airdrie City Limits, north of the East Points Area Structure Plan and across from future 185 acre Airdrie Regional Park and Croxford Estates. Panoramic West Views! 660 foot frontage onto paved Range Road 291 (future Airdrie main route). Ideal for home business (by permit), mini ranch or variety of permitted and discretionary uses. Features a 1,505 sq.ft. fully developed bungalow with heated oversize attached garage. Bright open plan with a spacious great room with vaulted ceiling and fireplace, formal dining area, and roomy kitchen with nook and covered deck access. Lower level is fully developed with bedroom, full bath, large den, and spacious living area. Includes major appliances and window coverings. Ideal for animals or home business with detached heated 28' x 30' shop with box stalls and 10' x 25' storage shop. Highway 2 north, east on Highway 567, north on paved Range Road 291. Seller will consider staying as tenant at Buyer's option and will also consider VTB options. Cabin in back trees also for sale. GST Applicable.
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Acreage with Residence, Bungalow
Total Living Area:
1,505 sq. ft.
Main Level Finished Area:
1,505 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
1,300 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
40 acre(s)
Lot Frontage:
659'5¾"
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:
West
Reg. Size:
Reg. Size Includes:
Floor Location:
Ground
Levels:
One
Total Rooms Above Grade:
5
Year built:
1993 (Age: 31)
Bedrooms:
4 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
1
Bathrooms:
3.0 (Full:3, Half:0)
Plan:
9310994
Heating:
Forced Air, Natural Gas
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Brick, Vinyl Siding, Wood Frame
Structure Type:
House
Roof:
Asphalt
Ensuite:
Yes
Flooring:
Carpet, Hardwood
Cooling:
None
Fireplaces:
1
Fireplace Details:
Gas, Living Room, Mantle
Utilities:
Natural Gas Paid, Electricity Connected, Electricity Paid For, Natural Gas Connected, Phone Connected, Phone Paid For, Satellite Internet Available, Underground Utilities
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Attached, Garage Door Opener, Heated Garage
Parking Places:
8.0
Parking Total/Covered:
8 / -
Laundry Features:
Main Level
Z-name Not Listed
NONE
Dishwasher, Dryer, Range, Range Hood, Refrigerator, Washer, Window Coverings
Hot tub "as is". Cabin at back of property available for sale.
Utility Right Of Way
Floor
Type
Size
Other
Main Floor
Kitchen With Eating Area
19'5" × 13'5"
Main Floor
Living Room
16'10" × 15'
Main Floor
Bedroom - Primary
13'8" × 13'3"
Main Floor
Bedroom
12'4" × 10'
Main Floor
Bedroom
11'8" × 9'
Main Floor
Laundry
10' × 7'3"
Lower Level
Bedroom
13'7" × 12'4"
Lower Level
Family Room
23'2" × 20'6"
Lower Level
Game Room
15'10" × 15'8"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
0' x 0'
Main Floor
Yes
3
Lower Level
No
4
Title to Land:
Fee Simple
Community Features:
Schools Nearby, Shopping Nearby
Interior Features:
Vaulted Ceiling(s)
Exterior Features:
Garden, Private Yard
Patio And Porch Features:
None
Lot Features:
Farm, Many Trees, Pasture, Rectangular Lot, Views
Num. of Parcels:
0
Outbuildings:
Shed, Shop
Fencing:
Cross Fenced, Fenced
Region:
Airdrie
Zoning:
AG
Listed Date:
Oct 23, 2023
Days on Mkt:
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Listed by Legacy Real Estate Services
Data was last updated June 29, 2024 at 08:05 PM (UTC)
Area Statistics
Listings on market:
228
Avg list price:
$644,500
Min list price:
$185,000
Max list price:
$4,950,000
Avg days on market:
16
Min days on market:
1
Max days on market:
250
Avg price per sq.ft.:
$370.77
These statistics are generated based on the current listing's property type and located in Airdrie. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706