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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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54 Savoy Landing SE
C-390 Calgary T3S 0E1

$875,300
Residential beds: 3 baths: 3.0 2,335 sq. ft. built: 2024

Main Photo: 54 Savoy Landing SE in Calgary: C-390 Detached for sale : MLS®# A2175755
Photo 1: 54 Savoy Landing SE in Calgary: C-390 Detached for sale : MLS®# A2175755
Photo 2: 54 Savoy Landing SE in Calgary: C-390 Detached for sale : MLS®# A2175755
Photo 3: 54 Savoy Landing SE in Calgary: C-390 Detached for sale : MLS®# A2175755
Photo 4: 54 Savoy Landing SE in Calgary: C-390 Detached for sale : MLS®# A2175755
Photo 5: 54 Savoy Landing SE in Calgary: C-390 Detached for sale : MLS®# A2175755
Photo 6: 54 Savoy Landing SE in Calgary: C-390 Detached for sale : MLS®# A2175755
Photo 7: 54 Savoy Landing SE in Calgary: C-390 Detached for sale : MLS®# A2175755
Photo 8: 54 Savoy Landing SE in Calgary: C-390 Detached for sale : MLS®# A2175755
Photo 9: 54 Savoy Landing SE in Calgary: C-390 Detached for sale : MLS®# A2175755
Photo 10: 54 Savoy Landing SE in Calgary: C-390 Detached for sale : MLS®# A2175755
Photo 11: 54 Savoy Landing SE in Calgary: C-390 Detached for sale : MLS®# A2175755
Photo 12: 54 Savoy Landing SE in Calgary: C-390 Detached for sale : MLS®# A2175755
Photo 13: 54 Savoy Landing SE in Calgary: C-390 Detached for sale : MLS®# A2175755
Photo 14: 54 Savoy Landing SE in Calgary: C-390 Detached for sale : MLS®# A2175755
Photo 15: 54 Savoy Landing SE in Calgary: C-390 Detached for sale : MLS®# A2175755
Photo 16: 54 Savoy Landing SE in Calgary: C-390 Detached for sale : MLS®# A2175755
Photo 17: 54 Savoy Landing SE in Calgary: C-390 Detached for sale : MLS®# A2175755
Photo 18: 54 Savoy Landing SE in Calgary: C-390 Detached for sale : MLS®# A2175755
Photo 19: 54 Savoy Landing SE in Calgary: C-390 Detached for sale : MLS®# A2175755
Photo 20: 54 Savoy Landing SE in Calgary: C-390 Detached for sale : MLS®# A2175755
Photo 21: 54 Savoy Landing SE in Calgary: C-390 Detached for sale : MLS®# A2175755
Photo 22: 54 Savoy Landing SE in Calgary: C-390 Detached for sale : MLS®# A2175755
Photo 23: 54 Savoy Landing SE in Calgary: C-390 Detached for sale : MLS®# A2175755
Photo 24: 54 Savoy Landing SE in Calgary: C-390 Detached for sale : MLS®# A2175755
Photo 25: 54 Savoy Landing SE in Calgary: C-390 Detached for sale : MLS®# A2175755
Photo 26: 54 Savoy Landing SE in Calgary: C-390 Detached for sale : MLS®# A2175755
Status:
Active
Prop. Type:
Residential
MLS® Num:
A2175755
Bedrooms:
3
Bathrooms:
3
Year Built:
2024
Welcome to 54 Savoy Landing SE, where elegance meets functionality in this expertly crafted Rosemary model by the award-winning Baywest Homes. Nestled in Calgary’s innovative new community of Rangeview, this residence offers a blend of modern luxury and family-friendly design. With three spacious bedrooms, 2.5 bathrooms, and a versatile bonus room, this home is perfect for today’s growing family. Inside, the meticulous design shines, featuring professionally curated interior finishes. The chef’s kitchen boasts ample cabinetry, sleek white marble quartz countertops, an expansive pantry, and a premium stainless steel appliance package. The open-concept main floor offers a cozy great room with oversized windows that frame picturesque views of the pond and greenspace, seamlessly flowing into the dining room for an inviting, airy feel. A private main-floor office makes working from home easy, while the thoughtfully designed mudroom connects to a walk-through pantry, simplifying everyday routines. Upstairs, a large bonus room awaits, alongside three well-sized bedrooms and a convenient laundry room. The primary suite is a true retreat, offering a luxurious ensuite with dual sinks, a spacious vanity, and a large walk-in closet. Two additional bedrooms share a well-appointed full bathroom. The undeveloped walkout basement provides excellent potential for customization, offering ample space for an additional bedroom, bathroom, rec room, and abundant storage—optional lower-level development packages are available for added flexibility. This home also features an attached double garage, with an oversized option available for added storage or workspace. Rangeview is Calgary’s first garden-to-table community. This community was designed to inspire living through food celebration. Its walkable streets, open spaces, and gardens are becoming vibrant gathering places for neighbors to connect. Residents can walk, jog, or cycle on the network of pathways that weave through the community’s linear park system. Future plans include over 23 acres of reconstructed wetlands and ponds, creative playground areas, outdoor classrooms, interpretive areas, and much more. Residents will collaborate to bring life to Rangeview’s food-producing and pollinator gardens, orchards, and greenhouse. Market Square will serve as Rangeview’s community hub for gathering, connecting, and sharing, offering an inviting area for community events, food markets, and celebrations with open lawns and playgrounds. An Urban Village is also anticipated, featuring restaurants, boutiques, and services. *Ask about other available lots and plans for new construction. **Interior photos are another home and provided for illustration of the floor plan only.
Property Type:
Residential
Property Sub Type:
Detached
Condo Type:
Not a Condo
Transaction Type:
For Sale
Possession:
Possession Date:
Suite:
No
Home Style:
2 Storey
Total Living Area:
2,335 sq. ft.
Main Level Finished Area:
1,074 sq. ft.
Upper Level Finished Area:
1,261 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Frequency:
Annually
HOA Fee Includes:
Lot Area:
3,928 sq. ft.
Lot Frontage:
0'
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:
West
Reg. Size:
Reg. Size Includes:
Levels:
Two
Total Rooms Above Grade:
8
Year built:
2024 (Age: 0)
Bedrooms:
3 (Above Grd: 3)
Bedrooms Above Grade:
3
Bedrooms Below Grade:
0
Bathrooms:
3.0 (Full:2, Half:1)
Plan:
2211799
Heating:
Forced Air, Natural Gas
Basement:
Full, Walk-Out To Grade
Foundation:
Poured Concrete
New Constr.:
Yes
Construction Material:
Vinyl Siding, Wood Frame
Structure Type:
House
Roof:
Asphalt Shingle
Ensuite:
Yes
Flooring:
Carpet, Ceramic Tile, Vinyl Plank
Cooling:
None
Fireplaces:
0
Garage:
1
Garage Spaces:
2
Parking:
Double Garage Attached
Parking Places:
4.0
Parking Total/Covered:
4 / -
Laundry Features:
Upper Level
HOA Fee:
$498.00
Rangeview
None
Dishwasher, Gas Stove, Range Hood, Refrigerator
N/A
None Known
Floor
Type
Size
Other
Main Floor
Dining Room
12'5" × 10'1"
Main Floor
Kitchen
20'7" × 10'5"
Main Floor
Living Room
15'6" × 12'6"
Main Floor
Office
12'10" × 9'11"
Upper Level
Bedroom
12'4" × 9'10"
Upper Level
Bedroom
12'4" × 9'9"
Upper Level
Family Room
17'3" × 16'1"
Upper Level
Laundry
7'9" × 7'4"
Upper Level
Bedroom - Primary
15'11" × 12'1"
Upper Level
Walk-In Closet
8'4" × 6'8"
Floor
Ensuite
Pieces
Other
Main Floor
No
2
3'4" x 8'
Main Floor
No
4
4'10" x 8'6"
Upper Level
Yes
5
18'11" x 7'4"
Title to Land:
Fee Simple
Community Features:
Park, Playground, Schools Nearby, Shopping Nearby, Walking/Bike Paths
Interior Features:
Breakfast Bar, Pantry, Quartz Counters, Recessed Lighting, Walk-In Closet(s)
Exterior Features:
None
Patio And Porch Features:
Deck
Lot Features:
Back Yard, Backs on to Park/Green Space, City Lot, Front Yard
Num. of Parcels:
0
Fencing:
Fenced
Region:
Calgary
Zone:
CAL Zone SE
Zoning:
R-G
Listed Date:
Oct 30, 2024
Days on Mkt:
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Listed by RE/MAX First
Data was last updated November 16, 2024 at 02:05 AM (UTC)
Area Statistics
Listings on market:
26
Avg list price:
$687,400
Min list price:
$522,953
Max list price:
$899,990
Avg days on market:
38
Min days on market:
9
Max days on market:
165
Avg price per sq.ft.:
$382.9
These statistics are generated based on the current listing's property type and located in C-390. Average values are derived using median calculations.
Diane Richardson
Cell: 403-397-3706