Here's what $500,000 will buy you in Canada

Most people don't do it this way, but if you had to take $500,000 and decide your place of residence based on the type of house you could buy, then this will give you a pretty good idea. Let's get right into it. 

TORONTO:

The place: One bedroom + Den with a balcony, excellent west view plus a parking spot and a locker. 

List price: $488,800

Square footage: 659

Taxes: To be assessed

Monthly fee: Maintenance/HOA of $360 per month

Where: Excellent downtown-west location near the Financial and Entertainment Districts of Toronto, you could walk to most entertainment, Rogers Centre (CN Tower), Metro Toronto Convention Centre and the brand new Ripley's Aquarium. 

Top features: Easy highway access, close to Toronto's underground walkway - PATH, new building with roof top BBQ and cabanas. 

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.

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

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

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

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

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

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

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.

Taxes: $5,200

Monthly fees: N/A

So there you have it. Of course if there is more to buying real estate than just price comparison. Reach out to your REALTOR who can help you with the decision making today, so that you will be happy for years to come. 

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