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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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4115 26 Avenue SW
Glendale Calgary T3E 0P4

$1,175,000
Residential beds: 2 baths: 3.0 1,129 sq. ft. built: 1957

Main Photo: 4115 26 Avenue SW in Calgary: Glendale Detached for sale : MLS®# A2174634
Photo 1: 4115 26 Avenue SW in Calgary: Glendale Detached for sale : MLS®# A2174634
Photo 2: 4115 26 Avenue SW in Calgary: Glendale Detached for sale : MLS®# A2174634
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2174634
Bedrooms:
2
Bathrooms:
3
Year Built:
1957
Seize this outstanding investment opportunity in the vibrant Glendale neighborhood! Nestled on a large corner lot, this charming bungalow presents a unique blend of comfort, convenience, and redevelopment potential. Zoned H-GO, the property offers substantial possibilities for building a high-demand rental complex. It’s ideally located within walking distance of local shops, restaurants, the library, a recreation centre, and other amenities, with excellent access to public transit. The existing, well-maintained two-bedroom home features a thoughtfully designed layout. The main floor boasts a spacious primary suite, with a convenient 2-piece en-suite for added privacy. The open living room is perfect for entertaining, seamlessly connecting to the dining room and kitchen. The family room offers a versatile space, perfect for a variety of uses. A full 4-piece bathroom enhances the functionality of the space. The lower level expands the living area with a large rec room, offering endless possibilities for entertainment, relaxation, or hobbies. This floor also includes a third bedroom, a 3-piece bathroom, and a practical laundry area, making the home highly efficient. The outdoor space is just as inviting, featuring a fenced-in yard with a deck, an oversized detached garage, and ample front parking, along with an extra parking spot beside the garage. Whether you’re looking to generate rental income now or hold the property for future redevelopment, this is a solid investment. For those ready to develop, plans are available and the Development Permit has been submitted.
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Bungalow
Total Living Area:
1,129 sq. ft.
Main Level Finished Area:
1,129 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
5,952 sq. ft.
Lot Frontage:
59'11"
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:
Floor Location:
Below Grade
Levels:
One
Total Rooms Above Grade:
6
Year built:
1957 (Age: 67)
Bedrooms:
2 (Above Grd: 1)
Bedrooms Above Grade:
1
Bedrooms Below Grade:
1
Bathrooms:
3.0 (Full:2, Half:1)
Plan:
4216HE
Heating:
Forced Air, Natural Gas
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Aluminum Siding
Structure Type:
House
Roof:
Asphalt
Ensuite:
Yes
Flooring:
Carpet, Ceramic Tile, Hardwood
Cooling:
None
Fireplaces:
0
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Detached
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
In Basement
Glendale (Calgary)
Dishwasher, Dryer, Garage Control(s), Gas Stove, Refrigerator, Washer, Window Coverings
N/A
Encroachment
Floor
Type
Size
Other
Main Floor
Dining Room
11'4" × 9'
Main Floor
Family Room
19'5" × 9'6"
Main Floor
Kitchen
13'4" × 12'8"
Main Floor
Living Room
13'4" × 12'8"
Main Floor
Living Room
17'5" × 11'6"
Main Floor
Bedroom - Primary
12' × 11'11"
Basement
Bedroom
15' × 11'7"
Basement
Laundry
7'2" × 5'6"
Basement
Game Room
26'7" × 20'10"
Basement
Storage
11'11" × 8'11"
Basement
Furnace/Utility Room
12'3" × 6'3"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
Main Floor
Yes
2
Basement
No
3
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Street Lights
Interior Features:
See Remarks
Exterior Features:
Private Yard
Patio And Porch Features:
Deck
Lot Features:
Back Lane, Back Yard, Corner Lot
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone W
Zoning:
H-GO
Listed Date:
Oct 26, 2024
Days on Mkt:
  • Photo 1: 4115 26 Avenue SW in Calgary: Glendale Detached for sale : MLS®# A2174634
    Photo 1 of 2
  • Photo 2: 4115 26 Avenue SW in Calgary: Glendale Detached for sale : MLS®# A2174634
    Photo 2 of 2
Listed by Century 21 Bamber Realty LTD.
Data was last updated November 13, 2024 at 04:05 AM (UTC)
Area Statistics
Listings on market:
4,937
Avg list price:
$589,000
Min list price:
$159,900
Max list price:
$10,000,000
Avg days on market:
35
Min days on market:
1
Max days on market:
473
Avg price per sq.ft.:
$435.58
These statistics are generated based on the current listing's property type and located in Calgary. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706