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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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139 Woodacres Drive SW
Woodbine Calgary T2W 4V8

$1,980,000
Residential beds: 5 baths: 5.0 3,611 sq. ft. built: 1986

Main Photo: 139 Woodacres Drive SW in Calgary: Woodbine Detached for sale : MLS®# A2137090
Photo 1: 139 Woodacres Drive SW in Calgary: Woodbine Detached for sale : MLS®# A2137090
Photo 2: 139 Woodacres Drive SW in Calgary: Woodbine Detached for sale : MLS®# A2137090
Photo 3: 139 Woodacres Drive SW in Calgary: Woodbine Detached for sale : MLS®# A2137090
Photo 4: 139 Woodacres Drive SW in Calgary: Woodbine Detached for sale : MLS®# A2137090
Photo 5: 139 Woodacres Drive SW in Calgary: Woodbine Detached for sale : MLS®# A2137090
Photo 6: 139 Woodacres Drive SW in Calgary: Woodbine Detached for sale : MLS®# A2137090
Photo 7: 139 Woodacres Drive SW in Calgary: Woodbine Detached for sale : MLS®# A2137090
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Photo 42: 139 Woodacres Drive SW in Calgary: Woodbine Detached for sale : MLS®# A2137090
Photo 43: 139 Woodacres Drive SW in Calgary: Woodbine Detached for sale : MLS®# A2137090
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2137090
Bedrooms:
5
Bathrooms:
5
Year Built:
1986
Price Reduced****A rare opportunity on one of the Calgary’s most preeminent residential streets located in the west side of the Fish Creek Provincial Park. This luxuriously built, bright, 5 bedrooms and 3.5 bath home has over 5000 sq ft of developed living space for various entertaining and family activities. The climate control for this home consists of 2 air conditioning units and 3 heating furnaces, with one dedicated heating furnace in the triple garage, to give this home a comfortable environment throughout the year. The kitchen and the formal dining area are connected to back deck overlooking the stunning valley view of the provincial park. The attached triple garage and the driveway offer plenty of parking stalls. The landscaped backyard, with beauty and functionality, is adjacent to the provincial park with easy access to the surrounding walkways to enjoy the spectacular views of the valley and the mountains.
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:
3,610.71 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
10,032 sq. ft.
Lot Frontage:
86'
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:
Unit Exposure:
East
Levels:
Two
Total Rooms Above Grade:
11
Year built:
1986 (Age: 38)
Bedrooms:
5 (Above Grd: 5)
Bedrooms Above Grade:
5
Bedrooms Below Grade:
0
Bathrooms:
5.0 (Full:4, Half:1)
Plan:
8510845
Heating:
Fireplace(s), Forced Air
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Brick, Concrete, Stucco
Structure Type:
House
Roof:
Tile
Ensuite:
Yes
Flooring:
Carpet, Hardwood, Tile
Cooling:
Central Air
Fireplaces:
2
Fireplace Details:
Gas
Garage:
1
Garage Spaces:
3
Parking:
Triple Garage Attached
Parking Places:
5.0
Parking Total/Covered:
5 / -
Laundry Features:
Laundry Room
Woodbine
Built-In Oven, Gas Cooktop, Microwave, Refrigerator, Washer/Dryer, Water Softener
Window coverings, a/c units, dishwasher (as-is), tool shed
None Known
Floor
Type
Size
Other
Main Floor
Kitchen
24'3" × 12'9"
Main Floor
Dining Room
23'3" × 13'4"
Main Floor
Living Room
24'11" × 17'10"
Main Floor
Office
8'11" × 8'11"
Main Floor
Family Room
15'2" × 14'5"
Main Floor
Foyer
12'7" × 5'11"
Main Floor
Laundry
8'7" × 8'
2nd Floor
Bedroom - Primary
16'11" × 13'11"
2nd Floor
Bedroom
14'10" × 13'4"
2nd Floor
Bedroom
12'6" × 10'5"
2nd Floor
Bedroom
14'8" × 10'3"
2nd Floor
Bedroom
13'9" × 11'3"
Lower Level
Hobby Room
29'3" × 14'
Lower Level
Game Room
31'2" × 10'
Lower Level
Furnace/Utility Room
13'11" × 10'4"
Lower Level
Media Room
23'4" × 14'5"
Lower Level
Storage
13'10" × 9'6"
Lower Level
Storage
10'11" × 4'5"
Lower Level
Storage
8'2" × 7'5"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
4'5" x 4'11"
2nd Floor
No
4
4'11" x 7'11"
2nd Floor
No
4
4'11" x 10'8"
2nd Floor
Yes
4
9'5" x 14'1"
Basement
No
4
4'4" x 7'10"
Title to Land:
Fee Simple
Community Features:
Park, Street Lights, Walking/Bike Paths
Interior Features:
Bookcases, Built-in Features, Ceiling Fan(s), Central Vacuum, French Door, High Ceilings, Jetted Tub, Kitchen Island, No Animal Home, No Smoking Home, Pantry, Recessed Lighting, Storage, Walk-In Closet(s)
Exterior Features:
Private Yard, Storage
Patio And Porch Features:
Rear Porch
Lot Features:
Back Yard, Backs on to Park/Green Space, Cul-De-Sac, Fruit Trees/Shrub(s), Garden, No Neighbours Behind, Landscaped, Secluded, Views
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone S
Zoning:
R-C1
Listed Date:
Jun 02, 2024
Days on Mkt:
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Listed by Century 21 Argos Realty
Data was last updated November 13, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
15
Avg list price:
$725,000
Min list price:
$399,990
Max list price:
$1,980,000
Avg days on market:
20
Min days on market:
5
Max days on market:
163
Avg price per sq.ft.:
$396.54
These statistics are generated based on the current listing's property type and located in Woodbine. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706