A new national real estate study by Point2 Homes is revealing just how much square footage you can get in Vancouver for your hard earned cash – and it’s pitiful.
The real estate portal assumed buyers had $300,000 to spend, based on a previous study which found many people are hoping to find homes at this price.
To put that in perspective, it’s roughly 3.5 times the median Canadian family income of $78,870, and also the ratio needed to buy a home a decade ago.
Unsurprisingly, Point2 Homes found $300,000 rarely gets you much space anymore in Canada – least of all in Vancouver.
In fact, Vancouver could only offer buyers 339 square feet for their $300,000. That’s a far cry from Sherbrook, Quebec, the roomiest city, where you can enjoy 2,041 square feet.
The study looked at 30 major cities across Canada and the differences from city to city are fascinating.
Hover over this graphic, made by Point 2 Homes, to see exactly how many square feet you get for $300,000. Each box is proportional to the size difference, city to city.
Even worse – you could fit at least three Vancouver bachelor pads into homes the same price in Ottawa, Hamilton, Montreal, Regina, Saskatoon, and Calgary.
For more in depth comparisons, check out Point2 Homes.