Canadian residential properties are expensive, but it doesn’t stop potential buyers from investing. However, many are skeptical of the type of property a million dollars can fetch, considering the crazy rising home prices.
What 1m can buy you in Canada solely depends on the location. Here, our housing team puts together a list of properties you can get for such an amount.
1. Vancouver, British Columbia
Vancouver is one of the most expensive cities in Canada, and it’s no surprise that the prices of properties here are a little over the top. You can find some luxurious properties like a two-bedroom condo for $999,000. These condos have fitness centers, a steam room, a sauna, and come with a sky view.
If you are single and a first-time buyer looking for a small-spaced home, you can get a one-bedroom with a living area of 650 sq. ft. in the west end for $500,000.
2. Winnipeg, Manitoba
In terms of value for money, Winnipeg wins. The city delivers the best deal for the money, with a four-bedroom home with four bathrooms going for $1m.
3. Toronto, Ontario
Toronto is another expensive city in Canada, and unlike Vancouver, it’s more accessible. You can get a single-family home on the west side for $990,000. This house features four bedrooms and three bathrooms.
4. Victoria, British Columbia
With $990,000, you can get a nice five-bedroom apartment in James Bay with a living space of 3,000 sq. ft.
5. Goodwood, Ontario
What 1m can buy you in Canada, especially in Goodwood, isn’t much because of the expensiveness of houses. Every buyer who graced here is fascinated by the kind of homes in the Goodwood area.
Although most properties here are above the $1m mark, they are more elegant and stylish than those seen in Toronto and Vancouver. A two-bedroom property goes for about $1.25 million.
6. Quebec City
Quebec City is home to lots of old but well-constructed buildings. There’s every possibility that you won’t purchase a completely new structure but renovated ones. However, these buildings are a beautiful sight to behold.
You can get a three-bedroom home with four bathrooms in a four-level building in Central Quebec City for $960,000. This house features a rooftop deck and terrace.
7. Saskatoon, Saskatchewan
Families have special needs that are slightly different from a single individual. Houses here are based in a friendly area with lots of playgrounds, sports courts, and surrounded by a river.
In addition, Saskatoon offers the most massive lot for the one million marks. You can get a three-bedroom home for $999,900.
8. Montreal, Quebec
If you need a home that’s both stylish and quiet, Montreal is where to find such. Homes here are more affordable than Vancouver and Toronto cities in Canada while offering more features. A two-bedroom condo on a large 1800 sq. ft. space costs approximately $998,000 [1] .
You can also get a ground floor home of a triplex in the Mont-Royal area near the Lafontaine Park for a slightly lower cost of $500,000. This home features three bedrooms, a bathroom, and a large balcony.
9. Calgary, Alberta
Calgary is for those looking for a large-spaced home with ensuite rooms at an affordable. You can get a luxurious three-bedroom with a master bedroom and jetted bathtub on a 2,479 sq. ft. for $969,900. In addition, you can get a three-bedroom with a living area and lot size of 2,477 sq. ft. and 7,004 for $1m.
Partly, the reason for the good price is because of the economic downturn that occurred in 2017. The city has since bounced back, but house prices remain average.
(For a more secured investment, you should understand the assignment sales in Toronto here first)
10. Halifax, Nova Scotia
Beachside and waterfront homes in Halifax go for between $950,000 to $1m. If you want to avoid the expensive beachside properties, you can get a single-family home with three bedrooms and an en suite bedroom in the basement in the city’s west end for $550,000.
So, if you are looking forward to living in any of these areas, that is the cost you should pay.
11. Northwest Territories
Northwest Territory is another place where you can get slightly less expensive homes. With $1m, you can get yourself a lovely two-bedroom home for $850,000.
12. St. John's, Newfoundland and Labrador
A typical five-bedroom home with four bathrooms goes for between $920,000 and $990,000, depending on the seller and topography. This is another city where you can get a bang for the money.
Conclusion
What 1m can buy you in Canada is much. Tons of properties are available for purchase in many cities, even though some houses are costlier in some places than others. Thanks to this post by our real estate experts, you now know what to budget when buying your next dream home in your favorite location.
