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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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1178 Kings Heights Way SE
Kings Heights Airdrie T4A 0S4

$689,000
Residential beds: 4 baths: 4.0 1,943 sq. ft. built: 2013

Main Photo: 1178 Kings Heights Way SE: Airdrie Detached for sale : MLS®# A2128673
Photo 1: 1178 Kings Heights Way SE: Airdrie Detached for sale : MLS®# A2128673
Photo 2: 1178 Kings Heights Way SE: Airdrie Detached for sale : MLS®# A2128673
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Photo 36: 1178 Kings Heights Way SE: Airdrie Detached for sale : MLS®# A2128673
Photo 37: 1178 Kings Heights Way SE: Airdrie Detached for sale : MLS®# A2128673
Status:
Sold
Sold Date:
Jun 17, 2024
Listed Price:
$699,900
Sold Price:
$689,000
Sold in:
45 days
Prop. Type:
Residential
MLS® Num:
A2128673
Bedrooms:
4
Bathrooms:
4
Year Built:
2013
Check out 3D Tour | Rare opportunity to own a family home with 4 bedrooms, 3.5 bathrooms, bonus room, and fully developed basement with a den. Modern design, and extra detail touches exude pride of ownership throughout the home. Spacious living room with 9ft ceiling and gleaming floor throughout. Massive center island with breakfast nook, gorgeous granite countertop, subway backsplash tiles, ample cabinet space to store all your favorite dishes, and walk-through pantry to the mudroom. The spacious living room can easily fit large furniture and the massive stone-surrounded fireplace is the focal point of this home. 2pc bathroom completes the main level. Off to the huge deck to enjoy alfresco lunch or evening BBQ festivities, maintenance-free backyard with turf to enjoy the green year-round. Back home, the open raiser to the upstairs, you will find the humungous bonus room with vaulted ceiling with three windows. The primary bedroom has vaulted ceiling, walk-in closet with organizer, and en-suite 5pc bathroom with double vanity, corner soaker tub and separate shower. Two other bedrooms are big enough for teens/adults, and there is 4pc bathroom to share. The laundry room is conveniently located on the upper level. Fully finished basement has a recreation area, 4th bedroom, 4pc bathroom plus a den. Perfect location with only a few steps to the pond and park. Short distance to school, shops, and easy access to major roads. Fantastic family home! Don’t miss it!
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
15 Days / Neg
Suite:
No
Home Style:
2 Storey
Total Living Area:
1,943 sq. ft.
Taxes:
$3,844 / 2023
Tax Assessed Value:
574000.0
Lot Area:
3,337 sq. ft.
Lot Frontage:
108'3¼"
Front Exposure:
South
Levels:
Two
Total Rooms Above Grade:
7
Year built:
2013 (Age: 11)
Bedrooms:
4
Bedrooms Above Grade:
3
Bedrooms Below Grade:
1
Bathrooms:
4.0 (Full:3, Half:1)
Plan:
1213093
Heating:
Forced Air
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Vinyl Siding, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Ceramic Tile, Hardwood, Laminate
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, Upper Level
Kings Heights
Dishwasher, Dryer, Electric Stove, Garage Control(s), Microwave Hood Fan, Refrigerator, Washer, Window Coverings
N/A
None Known
Floor
Type
Size
Other
Main Floor
Kitchen
13'7" × 9'2"
Main Floor
Dining Room
11'5" × 10'4"
Main Floor
Living Room
16' × 15'3"
Main Floor
Mud Room
8'6" × 5'5"
Upper Level
Bonus Room
15'3" × 14'4"
Upper Level
Laundry
7'10" × 5'5"
Upper Level
Bedroom - Primary
16'1" × 12'5"
Upper Level
Bedroom
10'2" × 9'8"
Upper Level
Bedroom
10'2" × 9'8"
Basement
Den
9'2" × 5'6"
Basement
Game Room
15'6" × 13'7"
Basement
Bedroom
12'10" × 10'3"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
0' x 0'
Upper Level
Yes
5
0' x 0'
Upper Level
No
4
0' x 0'
Basement
No
4
0' x 0'
Title to Land:
Fee Simple
Community Features:
Lake, Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Walking/Bike Paths
Interior Features:
Breakfast Bar, Ceiling Fan(s), Double Vanity, Granite Counters, High Ceilings, Kitchen Island, No Animal Home, No Smoking Home, Open Floorplan, Pantry
Exterior Features:
None
Patio And Porch Features:
Deck
Lot Features:
Back Yard, Low Maintenance Landscape, Rectangular Lot
Num. of Parcels:
0
Fencing:
Fenced
Region:
Airdrie
Zoning:
R1-U
Listed Date:
May 03, 2024
Days on Mkt:
45
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Listed by MaxWell Capital Realty
Data was last updated September 27, 2024 at 02:05 PM (UTC)
Diane Richardson
Cell: 403-397-3706