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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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5011 Waverley Drive SW
Westgate Calgary T3C 2P6

$680,000
Residential beds: 4 baths: 2.0 1,077 sq. ft. built: 1958

Main Photo: 5011 Waverley Drive SW in Calgary: Westgate Detached for sale : MLS®# A2131945
Photo 1: 5011 Waverley Drive SW in Calgary: Westgate Detached for sale : MLS®# A2131945
Photo 2: 5011 Waverley Drive SW in Calgary: Westgate Detached for sale : MLS®# A2131945
Photo 3: 5011 Waverley Drive SW in Calgary: Westgate Detached for sale : MLS®# A2131945
Photo 4: 5011 Waverley Drive SW in Calgary: Westgate Detached for sale : MLS®# A2131945
Photo 5: 5011 Waverley Drive SW in Calgary: Westgate Detached for sale : MLS®# A2131945
Photo 6: 5011 Waverley Drive SW in Calgary: Westgate Detached for sale : MLS®# A2131945
Photo 7: 5011 Waverley Drive SW in Calgary: Westgate Detached for sale : MLS®# A2131945
Photo 8: 5011 Waverley Drive SW in Calgary: Westgate Detached for sale : MLS®# A2131945
Photo 9: 5011 Waverley Drive SW in Calgary: Westgate Detached for sale : MLS®# A2131945
Photo 10: 5011 Waverley Drive SW in Calgary: Westgate Detached for sale : MLS®# A2131945
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Photo 12: 5011 Waverley Drive SW in Calgary: Westgate Detached for sale : MLS®# A2131945
Photo 13: 5011 Waverley Drive SW in Calgary: Westgate Detached for sale : MLS®# A2131945
Photo 14: 5011 Waverley Drive SW in Calgary: Westgate Detached for sale : MLS®# A2131945
Photo 15: 5011 Waverley Drive SW in Calgary: Westgate Detached for sale : MLS®# A2131945
Photo 16: 5011 Waverley Drive SW in Calgary: Westgate Detached for sale : MLS®# A2131945
Photo 17: 5011 Waverley Drive SW in Calgary: Westgate Detached for sale : MLS®# A2131945
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Photo 21: 5011 Waverley Drive SW in Calgary: Westgate Detached for sale : MLS®# A2131945
Photo 22: 5011 Waverley Drive SW in Calgary: Westgate Detached for sale : MLS®# A2131945
Photo 23: 5011 Waverley Drive SW in Calgary: Westgate Detached for sale : MLS®# A2131945
Photo 24: 5011 Waverley Drive SW in Calgary: Westgate Detached for sale : MLS®# A2131945
Photo 25: 5011 Waverley Drive SW in Calgary: Westgate Detached for sale : MLS®# A2131945
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Photo 34: 5011 Waverley Drive SW in Calgary: Westgate Detached for sale : MLS®# A2131945
Photo 35: 5011 Waverley Drive SW in Calgary: Westgate Detached for sale : MLS®# A2131945
Photo 36: 5011 Waverley Drive SW in Calgary: Westgate Detached for sale : MLS®# A2131945
Photo 37: 5011 Waverley Drive SW in Calgary: Westgate Detached for sale : MLS®# A2131945
Status:
Sold
Sold Date:
May 31, 2024
Listed Price:
$699,000
Sold Price:
$680,000
Sold in:
17 days
Prop. Type:
Residential
MLS® Num:
A2131945
Bedrooms:
4
Bathrooms:
2
Year Built:
1958
Welcome home - Lovingly upgraded and meticulously maintained, this 4 bedroom 2 bathroom fully finished bungalow with STUNNING SOUTH backyard & oversized heated double garage is available for its new family. Floor plan is impressive - main floor opens to spacious foyer and into the large living room featuring a cozy wood burning stove for those winter nights. Kitchen features an abundance of cabinetry and built in break fast nook and is open to the Dining area that features French Doors onto the amazing top deck area. Three large bedrooms and a 4 piece bathroom complete this level. The basement is fully developed with the 4th bedroom, 3 piece bathroom, flex room and recreation room. Some of the many upgrades include Furnace (2019) Roofing (2012) Doors (2009), Windows (2022). The beautifully landscaped property includes upper and lower deck areas with 2 gas outlet hookups and features a pond with waterfall (new pump) and fully automated irrigation system. The heated double detached garage is 26ft x 26ft and features 9ft ceilings. This home is Close to the LRT Station, Edworthy Park, Bow River and off leash dog area, walkable to a number of schools and is less than a 15 minute drive to Canada Olympic Park and Trans Canada Highway. 
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:
1,076.63 sq. ft.
Main Level Finished Area:
1,076.63 sq. ft.
Below Grade Finished Area:
940.52 sq. ft.
Taxes:
$3,190 / 2023
Tax Assessed Value:
485500.0
Lot Area:
4,994 sq. ft.
Lot Frontage:
50'
Front Exposure:
North
Levels:
One
Total Rooms Above Grade:
6
Year built:
1958 (Age: 66)
Bedrooms:
4
Bedrooms Above Grade:
3
Bedrooms Below Grade:
1
Bathrooms:
2.0 (Full:2, Half:0)
Plan:
6123HK
Heating:
Forced Air
Basement:
Finished, Full
Foundation:
Poured Concrete
New Constr.:
No
Construction Material:
Vinyl Siding, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
No
Flooring:
Carpet, Ceramic Tile, Hardwood
Cooling:
None
Fireplaces:
1
Fireplace Details:
Wood Burning
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Detached, Oversized
Parking Places:
2.0
Parking Total/Covered:
2 / -
Laundry Features:
In Basement
Westgate (Calgary)
Dishwasher, Dryer, Electric Stove, Microwave, Refrigerator, Washer, Window Coverings
NA
None Known
Floor
Type
Size
Other
Main Floor
Bedroom
10'1" × 8'1"
Main Floor
Bedroom
10'9" × 10'1"
Main Floor
Breakfast Nook
9'3" × 9'
Main Floor
Balcony
12'10" × 10'8"
Main Floor
Dining Room
10'8" × 7'5"
Main Floor
Kitchen
10'6" × 8'10"
Main Floor
Living Room
15' × 13'2"
Main Floor
Bedroom - Primary
12'9" × 12'2"
Basement
Bedroom
15'6" × 8'7"
Basement
Den
12'10" × 8'
Basement
Game Room
19'5" × 9'8"
Basement
Storage
17'4" × 13'
Basement
Furnace/Utility Room
15'9" × 9'10"
Floor
Ensuite
Pieces
Other
Main Floor
No
4
7'4" x 4'11"
Basement
No
3
9'7" x 4'8"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby
Interior Features:
Built-in Features, See Remarks
Exterior Features:
Other, Private Yard
Patio And Porch Features:
Deck, Patio
Lot Features:
Back Lane, Back Yard, Creek/River/Stream/Pond, Few Trees, Landscaped, See Remarks
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone W
Zoning:
R-C1
Listed Date:
May 14, 2024
Days on Mkt:
17
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    Main Floor Plan
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    Lower Floor Plan
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Data was last updated June 9, 2024 at 06:05 AM (UTC)
Diane Richardson
Cell: 403-397-3706