MoneyWhat $250,000 will buy in four Canadian cities
Real Estate: What $500,000 will buy in five Canadian cities
From a sprawling Edmonton two-storey home to a compact condo in downtown Vancouver
The average price of a Canadian home came in at $481,745 in March, according to the latest data from the Canadian Real Estate Association (CREA). If you’re hunting for a home in one of the country’s priciest housing markets, that number might seem low. But for those willing to compromise on location, plenty of single-family homes are available for $250,000 or less. To get a sense of what’s available for nearly half the national average, check out these listings below.
With a quarter-million dollar budget, buying in downtown Toronto is out of the question. But if you’re willing to consider the city’s outskirts, some options emerge. This two-bedroom condo in Scarborough isn’t as splashy as some of its newly constructed counterparts, but it offers a recently updated kitchen and a reasonably spacious balcony. The building also features amenities including a small gym and sauna.
Parents need to plan carefully if they are going to help their kids buy a house
Parents need to plan carefully if they are going to help their kids buy a house are always packed with mums and dads wanting to learn how they can help. He says parents first need to ask themselves if they can help without compromising their own financial security. "When you downsize your home and there is a lot of equity in it, that frees up capital that often is used for funding kids either first-time buy or move-up buy," he said. But Catliff says you need to consider your own needs for that money and other savings and that may include long-term care in later years.
This three-bedroom, 2,400 square foot home is described in the listing as a “collector’s item.” The house has a large outdoor garden complete with a gazebo, and features original hardwood floors and a brick fireplace. The kitchen is a bit dated, but prospective buyers will be pleased to learn that the roof and windows were replaced in 2012.
Kelowna, B.C.: $249,900
This 1,248 sq.-ft home was originally built in 1980, but received a serious upgrade in recent years, including new flooring, appliances, and a full kitchen renovation. Much of the space is devoted to a large open-concept living area, with three bedrooms along the back of the house. The 140 square foot porch offers a change to enjoy the forested backyard.
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East Hawkesbury, Ontario: $249,900
Situated an hour’s drive from both Montreal and Ottawa, this three-bedroom home in East Hawkesbury offers a bargain price for those willing to put in a daily commute. The main level has two bedrooms and a large open-concept living-dining area. The finished basement contains a third bedroom and entertainment centre. The insulated garage will be key for colder winters, while the lot has plenty of room for entertaining and gardening in the warmer months.
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