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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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122 550 Westwood Drive SW
Westgate Calgary T3C 3T9

$235,000
Residential beds: 1 baths: 1.0 631 sq. ft. built: 1981

Welcome to Sandhurst Village!
Photo 1: 122 550 Westwood Drive SW in Calgary: Westgate Apartment for sale : MLS®# A2154298
Photo 2: 122 550 Westwood Drive SW in Calgary: Westgate Apartment for sale : MLS®# A2154298
Photo 3: 122 550 Westwood Drive SW in Calgary: Westgate Apartment for sale : MLS®# A2154298
Photo 4: 122 550 Westwood Drive SW in Calgary: Westgate Apartment for sale : MLS®# A2154298
Photo 5: 122 550 Westwood Drive SW in Calgary: Westgate Apartment for sale : MLS®# A2154298
Photo 6: 122 550 Westwood Drive SW in Calgary: Westgate Apartment for sale : MLS®# A2154298
Photo 7: 122 550 Westwood Drive SW in Calgary: Westgate Apartment for sale : MLS®# A2154298
Photo 8: 122 550 Westwood Drive SW in Calgary: Westgate Apartment for sale : MLS®# A2154298
Photo 9: 122 550 Westwood Drive SW in Calgary: Westgate Apartment for sale : MLS®# A2154298
Photo 10: 122 550 Westwood Drive SW in Calgary: Westgate Apartment for sale : MLS®# A2154298
Photo 11: 122 550 Westwood Drive SW in Calgary: Westgate Apartment for sale : MLS®# A2154298
Photo 12: 122 550 Westwood Drive SW in Calgary: Westgate Apartment for sale : MLS®# A2154298
Photo 13: 122 550 Westwood Drive SW in Calgary: Westgate Apartment for sale : MLS®# A2154298
Photo 14: 122 550 Westwood Drive SW in Calgary: Westgate Apartment for sale : MLS®# A2154298
Photo 15: 122 550 Westwood Drive SW in Calgary: Westgate Apartment for sale : MLS®# A2154298
Photo 16: 122 550 Westwood Drive SW in Calgary: Westgate Apartment for sale : MLS®# A2154298
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2154298
Bedrooms:
1
Bathrooms:
1
Year Built:
1981
*Insuite laundry will be installed on November 15!* Opportunity knocks in Westgate! This updated main floor 1-bedroom condo features a spacious bedroom, in-suite storage, stainless steel appliances (only a few years old!), modern flooring, a large patio - and reasonable fees! Why rent when you can have your own place at this price point? Or, buy it as an investor and have your tenants pay your mortgage. Perfectly located for C-Train access, this condo is also less than 10 minutes to Mount Royal University and less than 15 minutes to downtown. The efficient galley kitchen leads to a spacious dining room and living room with direct access to your large patio. The primary bedroom features double closets and the same updated flooring throughout the main living space. Sandhurst Village is in the final stages of a major exterior renovation project - buy now and take advantage of this revitalized building. Make sure you also check out the exercise room on the third floor and large laundry room on the second floor.
Property Type:
Residential
Property Sub Type:
Apartment
Condo Type:
Conventional
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
Apartment
Total Living Area:
630.58 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
Condo Fee:
$384.87
Condo Fee Includes:
Amenities of HOA/Condo, Common Area Maintenance, Insurance, Interior Maintenance, Maintenance Grounds, Professional Management, Reserve Fund Contributions, Sewer, Water
HOA Fee Includes:
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:
North
Floor Location:
Ground
Entry Level:
1
Stories Total:
4
Levels:
Single Level Unit
End Unit:
2+ Common Walls, No One Below
Total Rooms Above Grade:
5
Year built:
1981 (Age: 43)
Bedrooms:
1 (Above Grd: 1)
Bedrooms Above Grade:
1
Bedrooms Below Grade:
0
Bathrooms:
1.0 (Full:1, Half:0)
Plan:
8211297
Heating:
Baseboard
New Constr.:
No
Construction Material:
Aluminum Siding, Wood Frame
Structure Type:
Low Rise (2-4 stories)
Ensuite:
No
Flooring:
Laminate
Cooling:
None
Fireplaces:
0
Garage:
0
Parking:
Carport, Off Street, Stall
Parking Places:
1.0
Parking Total/Covered:
1 / -
Laundry Features:
Common Area
Condo Fee Frequency:
Monthly
Sandhurst Village
Westgate (Calgary)
Fitness Center, Laundry, Visitor Parking
Dishwasher, Microwave Hood Fan, Refrigerator, Stove(s), Window Coverings
none
Board Approval
Yes
Floor
Type
Size
Other
Main Floor
Entrance
5' × 3'6"
Main Floor
Kitchen
8'6" × 7'5"
Main Floor
Dining Room
8'3" × 7'10"
Main Floor
Living Room
15'8" × 11'10"
Main Floor
Bedroom - Primary
12'2" × 10'1"
Main Floor
Storage
5'5" × 4'10"
Main Floor
Other
15'6" × 8'9"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
7'10" x 4'11"
Title to Land:
Fee Simple
Community Features:
Schools Nearby, Shopping Nearby
Interior Features:
No Smoking Home
Exterior Features:
None
Patio And Porch Features:
Patio
Num. of Parcels:
0
Region:
Calgary
Zone:
CAL Zone W
Zoning:
DC (Pre 1P2007)
Listed Date:
Aug 01, 2024
Days on Mkt:
  • Photo 1: 122 550 Westwood Drive SW in Calgary: Westgate Apartment for sale : MLS®# A2154298
    Welcome to Sandhurst Village!
  • Photo 2: 122 550 Westwood Drive SW in Calgary: Westgate Apartment for sale : MLS®# A2154298
    Updated flooring runs throughout the unit
  • Photo 3: 122 550 Westwood Drive SW in Calgary: Westgate Apartment for sale : MLS®# A2154298
    Photo 3 of 16
  • Photo 4: 122 550 Westwood Drive SW in Calgary: Westgate Apartment for sale : MLS®# A2154298
    The stainless steel kitchen appliances are only a few years old
  • Photo 5: 122 550 Westwood Drive SW in Calgary: Westgate Apartment for sale : MLS®# A2154298
    Bright and sunny living room
  • Photo 6: 122 550 Westwood Drive SW in Calgary: Westgate Apartment for sale : MLS®# A2154298
    Photo 6 of 16
  • Photo 7: 122 550 Westwood Drive SW in Calgary: Westgate Apartment for sale : MLS®# A2154298
    The primary bedroom has double closets
  • Photo 8: 122 550 Westwood Drive SW in Calgary: Westgate Apartment for sale : MLS®# A2154298
    Updated four-piece bathroom
  • Photo 9: 122 550 Westwood Drive SW in Calgary: Westgate Apartment for sale : MLS®# A2154298
    No need to sacrifice having a dining table in this unit - lots of room!
  • Photo 10: 122 550 Westwood Drive SW in Calgary: Westgate Apartment for sale : MLS®# A2154298
    Photo 10 of 16
  • Photo 11: 122 550 Westwood Drive SW in Calgary: Westgate Apartment for sale : MLS®# A2154298
    Photo 11 of 16
  • Photo 12: 122 550 Westwood Drive SW in Calgary: Westgate Apartment for sale : MLS®# A2154298
    Spacious patio right off of your living room
  • Photo 13: 122 550 Westwood Drive SW in Calgary: Westgate Apartment for sale : MLS®# A2154298
    Convenient exercise room on the third floor
  • Photo 14: 122 550 Westwood Drive SW in Calgary: Westgate Apartment for sale : MLS®# A2154298
    Large and bright laundry room on the second floor
  • Photo 15: 122 550 Westwood Drive SW in Calgary: Westgate Apartment for sale : MLS®# A2154298
    The building has a large welcoming lobby
  • Photo 16: 122 550 Westwood Drive SW in Calgary: Westgate Apartment for sale : MLS®# A2154298
    Loads of visitor parking on the north and west sides, and covered parking for owners
Listed by CIR Realty
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