When it comes to owning a home in Montreal, we’re lucky enough to be right in the middle of Canada’s real estate averages.
According to the Canadian Real Estate Association (CREA), as of February 2022, the average cost of a home in Canada is $816,720. This is up 20.6% since February 2021 ($677,435). For Montreal, the CREA has the average home price at $545,900 — an average of more than $270,000 under the country’s median prices.
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And while $1 million might seem like a lot of money, in some parts of Canada (ahem, Toronto… ahem, Vancouver), a million big ones doesn’t get you as far as it does in other parts of the country.
In case you’re wondering, or maybe even pondering a cross-country relocation, here is what a $1 million home looks like in cities across Canada, starting with Montreal.
This three-bedroom townhouse in Saint-Laurent will knock you back almost $1 million with about $12,000 left to spare.
The two-storey house was built in 2008 and has a garage, driveway, fireplace, and a finished basement.
It also has a backyard, granite countertops, hardwood floors, and is within walking distance of elementary schools and parks.
British Columbia: 3007 Dewdney Trunk Road, Coquitlam – $999,999
This extremely colourful home features three bedrooms and two full bathrooms in a 1,680 sq ft space. The three-level home has two fireplaces and a ton of land for future development.
It seems to be in relatively good condition, though certain aspects of the home are beginning to show their age.
The kitchen features older appliances that seem to be in decent shape, though there is no stainless steel equipment to be found.
With this Coquitlam serving as the measuring stick, how does the rest of Canada compare?
If a picture says a thousand words, this frontal view of 6951 Christie Briar Manor SW in Calgary says a million. Especially when we compare it to the first home on the list.
Featuring four bedrooms and four bathrooms, this home features a total finished area of 2,527 sq ft, nearly 850 sq ft larger than the Coquitlam home we used for comparison, for a dollar less.
Toronto is beginning to see a similar fate to that of Vancouver. Believe it or not, as of last month, the average price of a home in Greater Toronto was slightly higher than in Greater Vancouver and much higher than the national average.
With that in consideration, it still seems easier to find a completely detached home in Toronto than in Metro Vancouver, at a more affordable rate. Case in point: this three-bedroom, three-bathroom home at 42 Enchanted Hill Crescent, a high-demand area.
The home features an open concept layout with some renovated rooms and a recently replaced roof. The home also features a room with a mirror wall that would be perfect for a dance space, or as seen in the picture below, a work out or yoga studio.
“Honey, I’m home!”
This stunning Winnipeg bungalow features five bedrooms and three bathrooms. It features 2,280 sq ft of space, a huge kitchen, and lake views. The listing states the home has “tons of windows” to let in lots of natural light.
It has a hot tub, stone patios, a pond with a stream, and a theatre room with a projector. The theatre room has a sliding soundproof dividing wall.
It seems to pack in incredible value for the price when looking at other homes across Canada, particularly when compared to Vancouver’s offerings.
We’re wrapping up this list with a trip out east to Halifax, Nova Scotia.
This four-bedroom, four-bathroom subdivision is near schools and biking trails, and is relatively new having been built in 2009.
Minutes to downtown Halifax, the location can’t be beat. Nine-foot ceilings await you when you enter the home, and an open-concept kitchen with granite countertops connect to a “cozy family room.”
A theatre room features a built-in projector and newly-installed professional surround sound system. And as you can see, the theatre room looks luxurious.
The Halifax home is listed at $958,000, well below some of the other listings in this post.
In Vancouver, $1 million may not seem like a lot of money, but other parts of Canada tell a wildly different story. Hopefully, BC will be able to figure out the housing affordability problem.
With files from Amir Ali