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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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4831 40 Avenue SW
Glamorgan Calgary T3E 1E4

$725,000
Residential beds: 6 baths: 2.0 956 sq. ft. built: 1971

Main Photo: 4831 40 Avenue SW in Calgary: Glamorgan Detached for sale : MLS®# A2158183
Photo 1: 4831 40 Avenue SW in Calgary: Glamorgan Detached for sale : MLS®# A2158183
Photo 2: 4831 40 Avenue SW in Calgary: Glamorgan Detached for sale : MLS®# A2158183
Photo 3: 4831 40 Avenue SW in Calgary: Glamorgan Detached for sale : MLS®# A2158183
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Photo 22: 4831 40 Avenue SW in Calgary: Glamorgan Detached for sale : MLS®# A2158183
Photo 23: 4831 40 Avenue SW in Calgary: Glamorgan Detached for sale : MLS®# A2158183
Photo 24: 4831 40 Avenue SW in Calgary: Glamorgan Detached for sale : MLS®# A2158183
Photo 25: 4831 40 Avenue SW in Calgary: Glamorgan Detached for sale : MLS®# A2158183
Photo 26: 4831 40 Avenue SW in Calgary: Glamorgan Detached for sale : MLS®# A2158183
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2158183
Bedrooms:
6
Bathrooms:
2
Year Built:
1971
FABULOUS FAMILY HOME or FANTASTIC RENTAL WITH A TOTAL OF 6 Bedrooms and 2 Full bathrooms! Welcome to the charming residential community of Glamorgan, with quiet tree lined streets and a history dating back to the 1950s. It's the perfect blend of suburban tranquility and urban convenience, making it an attractive choice for families, professionals, and retirees alike. This cute bungalow with almost 1,900 square feet of developed space is beautifully located barely over 10 minutes from Downtown with major arteries close by to take you to any part of the city, or head directly west to Kananaskis and Banff. At the end of the street is Glamorgan Park with lots of green space and trails where you can walk your dog or pitch a ball at the baseball diamonds. This lovely home's large, private backyard is perfect for entertaining or simply enjoying the quiet community. Recent renovations include basement development (permits available at City archive) for an illegal suite with new, larger egress windows, 3 bedrooms, kitchen and full bathroom, newer carpet flooring, baseboards, casing, electrical, plumbing, heating, ventilations and newer hot water tank. There are 3 nice sized bedrooms and a full, updated bathroom on the main floor with more upgrades including refinished dark oak hardwood flooring, newer kitchen appliances, washer and dryer. The beautiful gated back deck overlooks an expansive backyard filled with perennials, purple lilac trees, a sweet, delicious apple tree and lots of room to plant a garden. There's even an oversized single car garage with direct access to the back alley. Future development can include a new laneway home and double car garage. At one time the home was a permitted daycare. A superb location for endless potential... within walking distance to Westhills Town Centre and Signal Hill Centre with their extremely wide range of grocery, shopping, retail stores and all necessary services. For families, there are several reputable schools that include Glamorgan School, Glenbrook School and St Andrew School. The Rockyview General Hospital, one of Calgary’s major healthcare facilities, is located within a short drive. This is a great home with loads of developed space in a beautiful, relaxed neighbourhood. Make it yours today!
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
Suite - Illegal
Home Style:
Bungalow
Total Living Area:
956 sq. ft.
Main Level Finished Area:
956 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
885 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
5,457 sq. ft.
Lot Frontage:
51'11"
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:
North
Reg. Size:
Reg. Size Includes:
Unit Exposure:
South
Floor Location:
Below Grade
Levels:
One
Total Rooms Above Grade:
5
Year built:
1971 (Age: 53)
Bedrooms:
6 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
3
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
7429JK
Heating:
Forced Air, Natural Gas, None
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Metal Siding, Vinyl Siding, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Carpet, Hardwood, Linoleum
Cooling:
None
Fireplaces:
0
Garage:
1
Garage Spaces:
2
Parking:
Alley Access, Garage Door Opener, Garage Faces Rear, Single Garage Detached
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
In Basement, Main Level
Glamorgan
Dishwasher, Dryer, Electric Stove, Garage Control(s), Microwave, Range Hood, Refrigerator, Stove(s), Washer, Washer/Dryer
N/A
None Known
Floor
Type
Size
Other
Main Floor
Kitchen
14'4" × 10'5"
Main Floor
Living Room
18'8" × 13'
Main Floor
Bedroom - Primary
12'3" × 10'1"
Main Floor
Bedroom
12'3" × 9'3"
Main Floor
Bedroom
8'11" × 8'10"
Basement
Bedroom
13' × 9'6"
Basement
Bedroom
8'11" × 8'3"
Basement
Bedroom
12'2" × 9'6"
Basement
Kitchen
9'8" × 8'9"
Basement
Game Room
12'7" × 9'4"
Basement
Storage
9'8" × 7'2"
Basement
Furnace/Utility Room
13'3" × 8'10"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
9'3" x 5'
Basement
No
4
7' x 4'11"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Pool, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights, Tennis Court(s), Walking/Bike Paths
Interior Features:
Laminate Counters, No Animal Home, No Smoking Home, Open Floorplan, Separate Entrance, Vinyl Windows
Exterior Features:
Private Entrance, Private Yard, Rain Gutters, Storage
Patio And Porch Features:
Deck, Rear Porch
Lot Features:
Back Lane, Back Yard, Front Yard, Lawn, Landscaped, Level, Street Lighting, Rectangular Lot
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone W
Zoning:
R-C1
Listed Date:
Sep 07, 2024
Days on Mkt:
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Listed by MaxWell Canyon Creek
Data was last updated September 20, 2024 at 04:05 PM (UTC)
Area Statistics
Listings on market:
26
Avg list price:
$612,400
Min list price:
$259,900
Max list price:
$999,999
Avg days on market:
15
Min days on market:
1
Max days on market:
78
Avg price per sq.ft.:
$475.45
These statistics are generated based on the current listing's property type and located in Glamorgan. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706