In Canada’s housing market here’s what $500 K buys: A lake in Edmonton … a condo in Toronto – Consult with Bruce Coleman, Vancouver Mortgage Broker
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The Canadian Real Estate Association has predicted that the national average price for a home will be $391,000 this year.
But it’s hard to compare how far your buck will go in Canadian cities using that figure, since the average prices at year’s end are so very different: $785,574 in Vancouver and $320,693 in Montreal, for instance. So we’ve found a round figure in the middle and asked, what could approximately $500,000 have bought homebuyers in various markets across the country?
EDMONTON
The place: Two-and-a-half storey, three-bedroom show home, with double detached garage and 2.5 baths
List price: $499,900
Square footage: 1,901
Taxes: $3,400
Monthly fees: HOA $300/month
Where: Late stage of an established development in city’s southeast, south of the ring road. Forty minutes to downtown, 10 minutes to the airport, and five minutes to a residents-only recreational lake.
Top features: Loft-den, bonus room with Juliet balcony, hardwood, gas fireplace, all appliances, deck and landscaping included. As a bonus, all the furnishings are included. HOA fee includes access to a 32-acre freshwater lake with sandy beach, dock, tennis courts and all-season clubhouse.
Contact: Madeline Sarafinchin, Jayman Realty (Edm) Inc.; 780-913-6595
MONTREAL
The place: Four-bedroom bungalow with two baths, built in 1959
List price: $492,500
Square footage: 1,442
Where: The Beaurepaire area of Beaconsfield, a western suburb of Montreal. Not far from Lac St. Louis and a commuter train station.
Top features: Comfortable bright living room with wood fireplace opening to dining area. Fully renovated three years ago, with spacious and modern kitchen with granite counter tops. Unique south-facing den adjacent to master bedroom. Fenced yard with new salt-water pool on a lot of 9,122 square feet. Extra-large basement family room with fourth bedroom, laundry room and workshop.
Taxes: $4,746
Monthly Fees: N/A
Contact: G. Shepherd Abbey, Abbey & Olivier Real Estate Agency; cell: 514-951-6008; office: 514-694-7866; shep@abbeyandolivier.ca
OTTAWA
The place: Two-storey single family home with four bedrooms and four bathrooms
List price: $499,900
Square footage: 3,200
Where: In the east-end suburb of Orleans, separated by a 20- to 25-minute highway drive from downtown Ottawa. This home is a short walk to shopping, cafés, parks, schools and public transit.
Top features: Classic crown moulding and gleaming hardwood floors run throughout the main level of this Naismith model by Minto. The kitchen is open to the family room to allow ease of flow when guests come to visit. An elegant curved hardwood staircase leads to the upper landing. Homeowners can spread out with two spacious ensuite bathrooms and three walk-in closets. The backyard is fully fenced with no rear neighbours.
Taxes: $4,879
Monthly Fees: N/A
Contact: Jason Pilon, Keller Williams Ottawa Realty, Jason@PilonHamilton.com, PilonHamilton.com; 613-845-0271
REGINA
The place: A two-storey split with 13 rooms, including three bedrooms and three bathrooms
List price: $519,900
Square footage: 2,090
Where: Situated in a well-established, well-treed neighbourhood in southeast Regina, close to schools, parks and shopping. Only a few minutes drive from downtown. Backing green space.
Top features: A spacious family home, built in 1984, featuring many updates and upgrades, including a modern, eat-in kitchen with granite countertops, and heated slate flooring through the kitchen, dining area and hallway. A garden door leads to the deck overlooking a beautifully landscaped yard with patio, pond and flower beds. The over-sized garage is insulated and drywalled.
Taxes: $3,263
Monthly Fees: N/A
Contact: Leanne Tourney, Re/Max Joyce Tourney Realty; 306-791-7666
SASKATOON
The place: Two-storey, four bedrooms, four bathrooms
List price: $504,900
Square footage: 3,975
Where: Premium Stonebridge location in the south end of the city. New development full of young families, close to shopping, parks and leisure facilities. Quick access to freeway means that downtown Saskatoon is only a short drive away.
Top features: Former show home with all the bells and whistles: hardwood floors, kitchen island and walk-in pantry, central air, central vac, four bathrooms and a fully finished basement. Open concept. Main-floor laundry.
Taxes: $3,975
Monthly Fees: N/A
Contact: Listed by Manning Luo, Re/Max Saskatoon; 306-242-6000; manning@saskatoonrealestates.ca
TORONTO
The place: Two-bedroom, two-storey loft townhouse with one bathroom and one parking space
List price: $489,900
Square footage: 806
Taxes: $2,802.21 in 2013
Monthly fee: Maintenance/HOA of $503 per month
Where: Excellent downtown-west location in the trendy Niagara neighbourhood, with transit, cafés and restaurants nearby. Walking distance to the 37-acre, uber-popular family- and pet-friendly Trinity Bellwoods Park.
Top features: Exposed concrete feature walls, floor-to-ceiling windows, custom kitchen, gas hookup for barbecue on its garden patio.
Contact: Brad Lamb, Brad J. Lamb Realty Inc.; 416-368-5262; brad@torontocondos.com
VANCOUVER
The place: 1-bedroom, 1-bathroom condo in The Grafton
List price: $483,000
Square footage: 850
Where: Situated in a prime Yaletown neighbourhood in the heart of downtown, with trendy eateries, entertainment, sports venues and shopping on the doorstep, as well as the seawall and myriad transportation options.
Top features: A New York-style home that merges original heritage features — exposed brickwork and wood beams — with a modern open-concept interior. Features include hardwood floors, expansive windows and a functional floor plan, a gas fireplace, custom kitchen, master bedroom with walk-in closet, five-piece ensuite, storage locker and parking stall.
Taxes: $2,000
Monthly fees: $431 per month
Contact: Faith Wilson at Faith Wilson Group; 604-224-5277; toll-free: 1-855-760-6886
WINDSOR
The place: Executive two-storey, four bedrooms, master ensuite bathroom, 2.5-car garage. Located in the suburb of Lakeshore
List price: $499,900
Square footage: 3,300
Taxes: $5,200
Where: Situated in a two-year-old subdivision, 20 minutes from downtown Windsor. Just minutes away from four golf courses and Lake St. Clair.
Top features: A games room and office above garage, hardwood floors throughout, maple staircase and designer granite kitchen, large fenced yard, covered porch and fenced, in-ground pool.
Contact: Larry Pickle, Re/Max Preferred; 519-944-5955
