As of May 2016, the average price of a home in Canada is approximately $509,000. Despite this, the actual size and relative value across the country varies dramatically. So, we thought it would be nice to show exactly what approximately $500,000 will get you in each part of this great country. From St.John’s to Vancouver, our true north strong and free offers a huge variety amazing landscapes, people and housing prices!
Much of the talk in the news lately has been about the dramatically rising prices in hot markets such as Vancouver and Toronto, where the average price of a single detached property is out of reach for most Canadians at over $1 million. This contrasts drastically with the maritime provinces, where the average price is $232 thousand in Nova Scotia, $180 thousand in New Brunswick, and $170 thousand in Prince Edward Island. But it would seem in most parts of Canada, that around $500 thousand dollars still buys you a lot of house for your money.
So here you have it, this is what around $500,000 will buy you across Canada.
Halifax
For Your Money:
4 beds, two baths. 2,515 sq. ft, l, granite counters, great design. See Listing
Toronto
For Your Money:
Attached property, 2 bed/ 1 bath. See Listing
Thanks to our reader, Julia, for pointing out that although a property might be listed around 500,000 in Toronto, the hot market there tends to ignite bidding wars that could drive the price up tens (or even hundreds) of thousands more!
Edmonton
For Your Money
5 beds, 3.5 baths, soundproof media room, jacuzzi. See Listing
Ottawa
For Your Money
2 beds, 2 bath, downtown detached property,
beer taps in kitchen. See Listing.
Montreal
For Your Money
3 beds, 1 bath, 1461.739 sq. ft, attached property. See Listing
Moncton
For Your Money
4 beds, 2.5 baths, 3,232 sq. ft, long driveway, large lot, marble flooring, jacuzzi, three car garage. See Listing
Winnipeg
For Your Money
3 beds, 2 baths , 2,010 sq. ft, gourmet kitchen, maple cabinets. See Listing
Saskatoon
For Your Money
4 beds, 2.5 baths. 2090 sq. ft , steam shower, large backyard. See Listing.
St. John’s
For Your Money
4 Bed/ 4 Bath, 3,860 sq. ft. Garage, Basement bar and large back and front yard. See Listing.
Calgary
For Your Money
2 beds, 2 baths, 1,432 sq. ft, double wide garage. See Listing
Whitehorse
For Your Money
3 beds, 2 bath, custom log home, lake
and mountain views. See Listing.
Vancouver
For Your Money
Good luck finding a place for around $500k in Vancouver, where the average price is over $1 million. It took us some digging!
1, bed 1 bath, 588 sq. ft. The building offers a gym, sauna, party room
Editor’s note: This article has been edited from its original version to include Ottawa, ON and Whitehorse, YT. Thanks to Gregory and Cat for reminding us that we missed two very important places in this national article.
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Author:
Chris Steeves
Chris is an editor and writer for Welcome Mat. He is based out of Moncton, New Brunswick, Canada.