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How much home does half a mil buy?

Shamrock
January 11th, 2006, 06:10 PM
My oldest son is now considering buying his first home - a house and yard for his family and pets.
Naturally, the suburbs..the farther away you get from the city.. the less you pay - though still very high . As his business involves a great deal of driving around, he was hoping to stay "fairly" central.

I was thinking of Prin's thread.."Why do you live where you live?".

Certainly the real estate prices in the Vancouver area would be one big detterrent for young families just starting out - they are outrageous. I dont know how they do it.

What can you get for 500K in your area?

Here's a typical local example of a single family dwelling in this price range -listed at 520. It's on a very small city lot, and in the cheapest area - the east side.
The west side goes up.. wayyy up. A million dollar home "used" to mean a mansion.:rolleyes:

jjgeonerd
January 11th, 2006, 06:20 PM
I'm in the US...but $500K US in the Seattle metro area will buy you a pretty nice 2-4 bedroom house, in a good neighborhood, say maybe 1600-2300 square feet.

Attached is a picture of a house selling for $499,000 in the neighborhood near my house...we currently have a townhouse though.

Joey.E.CockersMommy
January 11th, 2006, 06:26 PM
http://www.mls.ca/PropertyDetails.aspx?vd=&SearchURL=%3fPage%3d16%26Mode%3d0%26vs%3d1%26rlt%3 d%26cp%3d%26pt%3d20%26mp%3d250000-550000-0%26mrt%3d-1-0-0%26Beds%3d3-0%26Baths%3d3-0%26f%3d1%252c2%252c3%252c4%26ft%3dany%26o%3dA%26o f%3d1%26ps%3d10%26ptgid%3d1%26aid%3d6251%26MapURL% 3d%253fAreaID%253d1048&Mode=0&PropertyID=3856143

this what a half million buys in our town.

Joey.E.CockersMommy
January 11th, 2006, 06:31 PM
I would lowball this one. :D

http://www.mls.ca/PropertyDetails.aspx?vd=&SearchURL=%3fPage%3d5%26Mode%3d0%26vs%3d1%26rlt%3d %26cp%3d%26pt%3d20%26mp%3d450000-600000-0%26mrt%3d-1-0-0%26Beds%3d3-0%26Baths%3d3-0%26f%3d1%252c2%252c3%252c4%26ft%3dany%26o%3dA%26o f%3d1%26ps%3d10%26ptgid%3d1%26aid%3d6251%26MapURL% 3d&Mode=0&PropertyID=3455485

TobsterMom
January 11th, 2006, 06:34 PM
350k will get you this on PEI

TobsterMom
January 11th, 2006, 06:35 PM
550K will buy this!

Joey.E.CockersMommy
January 11th, 2006, 06:36 PM
350k will get you this on PEI I love those big old heritage homes.

Shamrock
January 11th, 2006, 06:42 PM
WHAT a difference from coast to coast:)

Inverness
January 11th, 2006, 06:46 PM
Woah ! Now I knew BC was expensive, but really, this is unbelievable ! Here's something you could find around here:

this house is for sale for 490 000 $ North of Montreal (haha! I won't tell you where exactly ! ;) ). It's a fully renovated 100 years old ancestral house on 50 000 square feet of land (which is zoned commercial, something I do not find appealing, but that adds to the sale price), 6 bedrooms, all wooden floors, house itself is 2400 square feet...

http://img24.imageshack.us/img24/5456/faade24uk.jpg

http://img246.imageshack.us/img246/6793/faade8ni.jpg

Shamrock
January 11th, 2006, 06:58 PM
Inverness, currently.. I think they are they're the most expensive in the country.:sick:
Being so used to these inflated prices, I find the differences startling.

Here a beautfiul old heritage home ..just outside the city limits, in a very desirable location.
A gorgeous 95-yr old home with 6 bedrooms, but on standard city lot.
Asking price -$1,500,000.

Inverness
January 11th, 2006, 07:16 PM
:eek:

There's no way I could even SURVIVE in BC !

Inverness
January 11th, 2006, 07:17 PM
Say, BoxerRescueMTL, what'ya think about this ? ;)

Prin
January 11th, 2006, 07:28 PM
Well, we got the cheapest liveable house on the market in the Montreal area (less than 40kms from Montreal) and we paid under 100 000. That amount of money gets you either a trailer or a lot in the rest of Canada...

$500 000...

Holy cow! There are some really nice ones! This one is in Ville St-Laurent (a nice part of the city): Castle (http://www.mls.ca/PropertyDetails.aspx?vd=&SearchURL=%3fMode%3d0%26Page%3d1%26vs%3d1%26rlt%3d %26cp%3d%26pt%3d1%26mp%3d475000-500000-0%26mrt%3d-1-0-0%26Beds%3d0-0%26Baths%3d0-0%26f%3d%26ft%3dall%26o%3dA%26of%3d1%26ps%3d10%26p tgid%3d1%26aid%3d369%26MapURL%3d%253fAreaID%253d36 9&Mode=0&PropertyID=3727743)

Joey.E.CockersMommy
January 11th, 2006, 07:58 PM
That looks like a duplex but it is very nice I especially like the curved stair case and the stone work is really nice too.

Prin
January 11th, 2006, 08:05 PM
No, it's a two home townhouse (side by side)...

Lucky Rescue
January 11th, 2006, 08:15 PM
I've always been bug-eyed at the high price of housing elsewhere. The prices are finally moving up in QC, but that house posted by Shamrock would be about 90K here, and 5 years ago it would have been 60K.:eek:

Here in St.Lazare, 500K gets you a 3300sq ft stone mansion with a huge wooded private lot and everything your heart desires!

Prin
January 11th, 2006, 08:18 PM
You're brave, posting your house, Lucky! :eek: :D :D

Actually I think that one (the first one), if it has a foundation would be around, $140 000 now. Without a foundation, maybe $115...

Lucky Rescue
January 11th, 2006, 08:21 PM
You're brave, posting your house, Lucky!

Not quite..hehe.:p

Prin
January 11th, 2006, 08:26 PM
That's true, your address doesn't show.:D

Dogastrophe
January 11th, 2006, 08:35 PM
$500K will get you this in Halifax .... the average house price in Halifax is somewhere around $200K, which doesn't get you much. If you include all of Halifax Regional Municipality, which contains a lot of rural areas, average drops to about $160K.

Byrd
January 11th, 2006, 08:51 PM
This house is $499,990 in my area.

Built In 1868-69 By Alexander Wilson Jr. The Original Wilson House Hotel! Endless Possibilities! Original Pine Plank Flrs Baseboards And Moldings. 10Ft Ceilings On 2 Floors. Huge Undeveloped Loft On The 3rd Flr. This Property Would Make A Fabulous Bed & Breakfast. Capture The Majesty & Incredible History That Surrounds This Fabulous Building. 2nd Storey, 2 Bdrms 3.48X2.13 And 5X2.43. Extensive Mechanical Upgrades Have Been Done In The Past 2 Years. Inluding 2 New Gas Furnaces, New Windows,Wiring.

Prin
January 11th, 2006, 08:55 PM
Two new gas furnaces? I wouldn't be able to afford to look at that house!

Shamrock
January 11th, 2006, 09:25 PM
To give a fair over-view, here is a typical newer, family home in one of the many outlying "bedroom communites - about an hours drive to downtown Vancouver, and in the same price bracket - a lot more home for your buck:D .
To live in the city - or close to it, prices are just out of this world.

This one is listed at 588,800... and is 2490 sq.ft, 2 years old.

papillonmama
January 11th, 2006, 10:09 PM
Well, we got the cheapest liveable house on the market in the Montreal area (less than 40kms from Montreal) and we paid under 100 000. That amount of money gets you either a trailer or a lot in the rest of Canada...

$500 000...

Holy cow! There are some really nice ones! This one is in Ville St-Laurent (a nice part of the city): Castle (http://www.mls.ca/PropertyDetails.aspx?vd=&SearchURL=%3fMode%3d0%26Page%3d1%26vs%3d1%26rlt%3d %26cp%3d%26pt%3d1%26mp%3d475000-500000-0%26mrt%3d-1-0-0%26Beds%3d0-0%26Baths%3d0-0%26f%3d%26ft%3dall%26o%3dA%26of%3d1%26ps%3d10%26p tgid%3d1%26aid%3d369%26MapURL%3d%253fAreaID%253d36 9&Mode=0&PropertyID=3727743)


Under 100 000 in Ontario, in Toronto that might be enough to buy a teeny condo, or a really yucky old one in a bad neighborhood, seriously though, my girl friend had a one bedroom. I swear it was the size of my kitchen and living room combined, if that! Basically, she lived in a box, a very pretty box, but a box none the less. She was paying some crazy amount of rent too, something around the 1200 range, plus condo fees, once a year they have to pay for services.
Who said we don't need rent control???

Byrd
January 11th, 2006, 10:31 PM
$100,000 here (just east of Toronto) gets you a tiny little town house in an icky neighbourhood. Or a two bedroom, fairly well sized, condo.

Puppyluv
January 11th, 2006, 10:42 PM
I'm not sure about where I live, but since my parents just bought a new "empty nest" house, I can comment on where they live. They are in fairly downtown Calgary (To the Calgarians out there: Park Hill, on the South East side of the Elbow River near 2nd st SW) half a mil could buy you a very small 2 bedroom, dual family dwelling in their neighbourhood. Where they moved from (again, to the calgarians: Scarboro, between 17th Ave, Crowchild Trail and the Bow River SW) there doesn't exist a home that costs half a mil or less. Calgary is a booming market though.. so it may not be the best example.

Prin
January 11th, 2006, 11:19 PM
$100,000 here (just east of Toronto) gets you a tiny little town house in an icky neighbourhood. Or a two bedroom, fairly well sized, condo.

Under 100 000 in Ontario, in Toronto that might be enough to buy a teeny condo, or a really yucky old one in a bad neighborhood

Heh heh... We're in a really peaceful neighborhood, seemingly crime free (:fingerscr )- nobody seems to lock their doors.. :confused: And we're 4 houses from the river. And the river is a few years away from being freely swimmable... And there are about 5 cars that pass by every day. And we're still only 8-10 kms from the nearest Costco!:D

BoxerRescueMTL
January 11th, 2006, 11:56 PM
Say, BoxerRescueMTL, what'ya think about this ?

Lol! If I had half a mil, Inverness, I'd buy me AND you houses in Hudson. Or maybe one of the big fancy ones on the lake. http://www.mls.ca/PropertyDetails.aspx?vd=&SearchURL=%3fMode%3d0%26Page%3d1%26vs%3d1%26rlt%3d %26cp%3d%26pt%3d1%26mp%3d425000-550000-0%26mrt%3d-1-0-0%26Beds%3d0-0%26Baths%3d0-0%26f%3d%26ft%3dall%26o%3dA%26of%3d1%26ps%3d10%26p tgid%3d1%26aid%3d722%26MapURL%3d&Mode=0&PropertyID=4202000

Prin
January 12th, 2006, 12:01 AM
no way! 1800's houses don't have any insulation! The heating would be outrageous.

BMDLuver
January 12th, 2006, 08:08 AM
I love the house that Inverness posted! Beautiful and truly Quebec. :thumbs up

Rick C
January 12th, 2006, 10:46 AM
I'm not sure about where I live, but since my parents just bought a new "empty nest" house, I can comment on where they live. They are in fairly downtown Calgary (To the Calgarians out there: Park Hill, on the South East side of the Elbow River near 2nd st SW) half a mil could buy you a very small 2 bedroom, dual family dwelling in their neighbourhood. Where they moved from (again, to the calgarians: Scarboro, between 17th Ave, Crowchild Trail and the Bow River SW) there doesn't exist a home that costs half a mil or less. Calgary is a booming market though.. so it may not be the best example.

I think a headline in the Calgary Herald last week said the median house price in the city is now $300,000 . . . . . but I think its still a LOT cheaper in Calgary than it is in Toronto and particularly Vancouver.

Rick C
www.goldentales.ca

AliSam
January 12th, 2006, 04:35 PM
$544,800 will get you this in a rural area of Clarington.