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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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5711 Lawson Place SW
Lakeview Calgary T3E 5Z1

$835,000
Residential beds: 2 baths: 2.0 1,259 sq. ft. built: 1965

Main Photo: 5711 Lawson Place SW in Calgary: Lakeview Detached for sale : MLS®# A2177626
Photo 1: 5711 Lawson Place SW in Calgary: Lakeview Detached for sale : MLS®# A2177626
Photo 2: 5711 Lawson Place SW in Calgary: Lakeview Detached for sale : MLS®# A2177626
Photo 3: 5711 Lawson Place SW in Calgary: Lakeview Detached for sale : MLS®# A2177626
Photo 4: 5711 Lawson Place SW in Calgary: Lakeview Detached for sale : MLS®# A2177626
Photo 5: 5711 Lawson Place SW in Calgary: Lakeview Detached for sale : MLS®# A2177626
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Photo 43: 5711 Lawson Place SW in Calgary: Lakeview Detached for sale : MLS®# A2177626
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Photo 45: 5711 Lawson Place SW in Calgary: Lakeview Detached for sale : MLS®# A2177626
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2177626
Bedrooms:
2
Bathrooms:
2
Year Built:
1965
Nestled in the peaceful cul-de-sac of Lakeview, this inviting 2 bedroom, 2 bathroom bungalow offers a perfect blend of classic charm and modern comforts. The home features original hardwood floors throughout the main level, creating a warm and welcoming atmosphere, while large bay windows in the living room bathe the space in natural light. A cozy gas fireplace adds a touch of elegance and comfort to the living area. The kitchen is thoughtfully designed and offers all the essentials for preparing meals with ease. Step into the serene heated solarium, a unique feature of the home, with its bay windows and ceiling fan —ideal for year-round enjoyment. The bathroom boasts both a jetted tub and a separate stand-up shower, providing the ultimate in relaxation. Downstairs, the finished basement is a versatile space with cozy carpeting and hardwood flooring. It includes a pool table and built-in bookcases, creating an excellent space for entertainment or relaxation. The exterior of the home features unique brickwork, adding character and curb appeal. Enjoy your private outdoor space on the composite deck in the back porch, a perfect spot for morning coffee or evening gatherings. The landscaped backyard includes raised bed perennial gardens, bringing vibrant colour and seasonal beauty to your outdoor space. With an oversized detached double garage providing ample storage and parking, this home truly has it all. Located in a quiet, family-friendly cul-de-sac, this home offers the ideal balance of tranquility and convenience. Whether you're looking for a cozy retreat or a space to entertain, this charming bungalow in Lakeview is sure to meet your needs.
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:
1,259 sq. ft.
Main Level Finished Area:
1,259 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Below Grade Finished Area:
1,057 sq. ft.
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Lot Area:
5,511 sq. ft.
Lot Frontage:
52'6"
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:
Levels:
One
Total Rooms Above Grade:
7
Year built:
1965 (Age: 59)
Bedrooms:
2 (Above Grd: 2)
Bedrooms Above Grade:
2
Bedrooms Below Grade:
0
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
3048JK
Heating:
Forced Air
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Brick, Stucco, Wood Siding
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Carpet, Hardwood, Tile
Cooling:
None
Fireplaces:
1
Fireplace Details:
Gas
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Detached
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
In Basement
Lakeview (Calgary)
Dishwasher, Electric Stove, Garage Control(s), Range Hood, Water Purifier, Water Softener, Window Coverings
Large storage shed, pool table and basement bookcases. Central vacuum sold AS IS
None Known
Floor
Type
Size
Other
Main Floor
Living Room
18'2" × 12'5"
Main Floor
Kitchen
12'9" × 9'1"
Main Floor
Breakfast Nook
9'4" × 6'2"
Main Floor
Dining Room
12'11" × 8'1"
Main Floor
Foyer
9'1" × 6'11"
Main Floor
Walk-In Closet
6' × 2'11"
Main Floor
Sunroom/Solarium
13'2" × 12'8"
Main Floor
Bedroom - Primary
12'5" × 9'11"
Main Floor
Bedroom
9' × 8'11"
Basement
Den
10'10" × 4'7"
Basement
Bonus Room
10'10" × 9'
Basement
Laundry
5'11" × 5'6"
Basement
Furnace/Utility Room
6'8" × 5'9"
Basement
Game Room
18'9" × 14'8"
Basement
Storage
14'4" × 6'
Floor
Ensuite
Pieces
Other
Main Floor
No
4
7'6" x 8'8"
Basement
No
3
5'3" x 9'4"
Title to Land:
Fee Simple
Community Features:
Golf, Park, Playground, Schools Nearby, Shopping Nearby, Sidewalks, Walking/Bike Paths
Interior Features:
Bookcases, Built-in Features, Ceiling Fan(s), Central Vacuum, Closet Organizers, Jetted Tub, Laminate Counters, Natural Woodwork, Skylight(s), Vaulted Ceiling(s)
Exterior Features:
Garden, Private Yard
Patio And Porch Features:
Deck, Patio, Porch, Rear Porch
Lot Features:
Back Lane, Back Yard, City Lot, Cul-De-Sac, Front Yard, Street Lighting
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone W
Zoning:
R-CG
Listed Date:
Nov 09, 2024
Days on Mkt:
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Listed by Century 21 PowerRealty.ca
Data was last updated November 14, 2024 at 05:30 AM (UTC)
Area Statistics
Listings on market:
4,881
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:
474
Avg price per sq.ft.:
$435.52
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