What could $300,000 buy across the country?

by Justin da Rosa06 Jan 2017
A new study aims to answer that question by breaking down how much home can be purchased for that modest amount.

The answer, in most markets, is not very much.

“Say you had about $300,000 to spend on a new home and you want to find something pretty decent. Looking at the visual below, you’ll quickly see that $300,000  is not enough to buy you a home of average size —  around 2,000 square feet — almost nowhere in Canada’s biggest cities,” Point2Home, an online real estate tech company, said in a recent report. “From the cities we took into account only 2 were close to offering a decent home size for this price:  Gatineau and Sherbrooke, both in the province of Quebec.”

The chart below, which was developed by Point2Homes, shows what size house a buyer can expect to purchase with $300,000 in various markets.

Quebec is home to the best deals, with three markets that offer the most bang for a buyer’s buck.

A 2,041 square foot home in Sherbrooke, QC  can be had for $300,000; that same sum can get you 1,887 square feet in Gatineau and 1,485 square feet in Quebec City.

Windsor, meanwhile, offers the best Ontario deal at 1,435 sqft.

On the flip-side, Toronto and Vancouver – and their surrounding areas – will yield the smallest average-sized homes.

Prospective buyers can expect to squeeze into 339 sqft in Vancouver and 520 sqft in Toronto.

 

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