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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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147 Royal Oak Mews NW
Royal Oak Calgary T3G 4Y7

$710,000
Residential beds: 4 baths: 3.0 1,260 sq. ft. built: 2001

SOLD OVER THE LISTING PRICE!
Main Photo: 147 Royal Oak Mews NW in Calgary: Royal Oak Detached for sale : MLS®# A2138866
Photo 1: 147 Royal Oak Mews NW in Calgary: Royal Oak Detached for sale : MLS®# A2138866
Photo 2: 147 Royal Oak Mews NW in Calgary: Royal Oak Detached for sale : MLS®# A2138866
Photo 3: 147 Royal Oak Mews NW in Calgary: Royal Oak Detached for sale : MLS®# A2138866
Photo 4: 147 Royal Oak Mews NW in Calgary: Royal Oak Detached for sale : MLS®# A2138866
Photo 5: 147 Royal Oak Mews NW in Calgary: Royal Oak Detached for sale : MLS®# A2138866
Photo 6: 147 Royal Oak Mews NW in Calgary: Royal Oak Detached for sale : MLS®# A2138866
Photo 7: 147 Royal Oak Mews NW in Calgary: Royal Oak Detached for sale : MLS®# A2138866
Photo 8: 147 Royal Oak Mews NW in Calgary: Royal Oak Detached for sale : MLS®# A2138866
Photo 9: 147 Royal Oak Mews NW in Calgary: Royal Oak Detached for sale : MLS®# A2138866
Photo 10: 147 Royal Oak Mews NW in Calgary: Royal Oak Detached for sale : MLS®# A2138866
Photo 11: 147 Royal Oak Mews NW in Calgary: Royal Oak Detached for sale : MLS®# A2138866
Photo 12: 147 Royal Oak Mews NW in Calgary: Royal Oak Detached for sale : MLS®# A2138866
Photo 13: 147 Royal Oak Mews NW in Calgary: Royal Oak Detached for sale : MLS®# A2138866
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Photo 17: 147 Royal Oak Mews NW in Calgary: Royal Oak Detached for sale : MLS®# A2138866
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Photo 19: 147 Royal Oak Mews NW in Calgary: Royal Oak Detached for sale : MLS®# A2138866
Photo 20: 147 Royal Oak Mews NW in Calgary: Royal Oak Detached for sale : MLS®# A2138866
Photo 21: 147 Royal Oak Mews NW in Calgary: Royal Oak Detached for sale : MLS®# A2138866
Photo 22: 147 Royal Oak Mews NW in Calgary: Royal Oak Detached for sale : MLS®# A2138866
Photo 23: 147 Royal Oak Mews NW in Calgary: Royal Oak Detached for sale : MLS®# A2138866
Photo 24: 147 Royal Oak Mews NW in Calgary: Royal Oak Detached for sale : MLS®# A2138866
Photo 25: 147 Royal Oak Mews NW in Calgary: Royal Oak Detached for sale : MLS®# A2138866
Photo 26: 147 Royal Oak Mews NW in Calgary: Royal Oak Detached for sale : MLS®# A2138866
Photo 27: 147 Royal Oak Mews NW in Calgary: Royal Oak Detached for sale : MLS®# A2138866
Photo 28: 147 Royal Oak Mews NW in Calgary: Royal Oak Detached for sale : MLS®# A2138866
Photo 29: 147 Royal Oak Mews NW in Calgary: Royal Oak Detached for sale : MLS®# A2138866
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Photo 32: 147 Royal Oak Mews NW in Calgary: Royal Oak Detached for sale : MLS®# A2138866
Photo 33: 147 Royal Oak Mews NW in Calgary: Royal Oak Detached for sale : MLS®# A2138866
Status:
Sold
Sold Date:
Jun 26, 2024
Listed Price:
$699,000
Sold Price:
$710,000
Sold in:
16 days
Prop. Type:
Residential
MLS® Num:
A2138866
Bedrooms:
4
Bathrooms:
3
Year Built:
2001
Nestled in the sought-after Royal Oak neighborhood, this bungalow offers a serene and family-friendly environment. Positioned on a spacious corner lot, this home enjoys a huge yard area, perfect for gardening, outdoor activities, and entertaining. The beautiful hardwood floors throughout the main living areas add a touch of elegance and are easy to maintain. The kitchen boasts durable and stylish granite countertops that offer plenty of workspace for cooking and entertaining. Modern stainless steel appliances ensure both functionality and aesthetic appeal. The large walk-in pantry provides ample storage space for food and kitchen supplies. The roomy dining room is perfect for family meals and dinner parties, with plenty of space to accommodate a large dining table. A spacious living room features a gas fireplace, providing a cozy focal point for family gatherings and entertaining guests. The large primary bedroom is a private retreat, featuring a 4-piece ensuite bathroom, which includes a bathtub, shower, sink, and toilet, offering a spa-like experience. The spacious walk-in closet provides plenty of storage for clothing and accessories. Another convenient bedroom or home office on the main floor, and a second full bathroom ensures convenience for family members and guests. Conveniently located on the main level, the laundry room makes chores a breeze. Descend the stairs to find a comfortable third and fourth bedroom in the basement, ideal for guests or as additional family bedrooms / office. The basement also features a 3-piece bathroom with a shower, sink, and toilet, adding convenience and flexibility. The huge recreation room is a versatile space that can be used as a home theater, game room, or fitness area, and includes a wet bar which is perfect for entertaining. The insulated, double attached garage offers ample space for parking and storage, ensuring convenience and security for your vehicles. The Southeast-facing yard ensures ample sunlight throughout the day, creating a warm and inviting atmosphere. A huge deck provides an excellent space for outdoor entertaining, summer barbecues, and relaxation. This Royal Oak bungalow is more than just a house; it's a home designed for comfort, convenience, and style. Whether you're enjoying a quiet evening by the fireplace, hosting a dinner party, or relaxing on the deck, this property offers a welcoming and versatile space to meet all your needs. Known for its lush parks, excellent schools, and convenient access to shopping and dining, Royal Oak is an ideal location for those seeking a balanced lifestyle. With its prime location, elegant interiors, and abundant amenities, this bungalow is an excellent choice for discerning homebuyers.
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Negotiable
Suite:
No
Home Style:
Bungalow
Total Living Area:
1,260.42 sq. ft.
Main Level Finished Area:
1,260.42 sq. ft.
Below Grade Finished Area:
1,180.08 sq. ft.
Taxes:
$4,267 / 2024
Tax Assessed Value:
658000.0
HOA Fee Frequency:
Annually
HOA Fee Includes:
Amenities w/HOA
Lot Area:
5,511 sq. ft.
Lot Frontage:
47'3"
Front Exposure:
Northwest
Levels:
One
Total Rooms Above Grade:
5
Year built:
2001 (Age: 23)
Bedrooms:
4
Bedrooms Above Grade:
2
Bedrooms Below Grade:
2
Bathrooms:
3.0 (Full:3, Half:0)
Plan:
0010107
Heating:
Forced Air, Natural Gas
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Stone, Vinyl Siding, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Hardwood, Tile
Cooling:
None
Fireplaces:
1
Fireplace Details:
Gas
Garage:
1
Garage Spaces:
4
Parking:
Double Garage Attached
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
Laundry Room, Main Level
HOA Fee:
$210.00
Royal Oak
None
Dishwasher, Dryer, Electric Range, Garage Control(s), Microwave Hood Fan, Refrigerator, Washer
Window Coverings
Restrictive Covenant, Utility Right Of Way
Floor
Type
Size
Other
Main Floor
Bedroom
12'6" × 8'10"
Main Floor
Dining Room
11'1" × 10'3"
Main Floor
Kitchen
14'11" × 14'4"
Main Floor
Laundry
7'7" × 6'8"
Main Floor
Living Room
17'5" × 13'10"
Main Floor
Bedroom - Primary
15'4" × 14'7"
Basement
Bedroom
13'10" × 10'9"
Basement
Bedroom
12'7" × 9'11"
Basement
Game Room
29'6" × 24'5"
Basement
Furnace/Utility Room
17'1" × 14'1"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
5' x 7'5"
Main Floor
Yes
4
10'8" x 11'1"
Basement
No
3
9'9" x 4'11"
Title to Land:
Fee Simple
Community Features:
Playground, Schools Nearby, Shopping Nearby, Street Lights
Interior Features:
Ceiling Fan(s), Granite Counters, High Ceilings, Kitchen Island, Open Floorplan, Pantry, Soaking Tub, Storage, Vinyl Windows, Walk-In Closet(s), Wet Bar
Exterior Features:
Private Entrance, Private Yard
Patio And Porch Features:
Deck
Lot Features:
Back Yard, Corner Lot, Few Trees, Front Yard, Street Lighting
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone NW
Zoning:
R-C1
Listed Date:
Jun 10, 2024
Days on Mkt:
16
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Data was last updated September 27, 2024 at 10:05 PM (UTC)
Diane Richardson
Cell: 403-397-3706