With the average price of a house passing the half-million-dollar mark recently, plenty of would-be homeowners are wondering if they will ever get into the market.
Don't despair: There are still plenty of bargains to be found in Canada's numerous and varied real estate markets. Virtually none of them are in Toronto or Vancouver, of course, but if you're willing to travel some distance from the centres of Canadian housing-boom insanity, you can find plenty of houses for, say, the price of a BMW X5.
The difference, of course, is that real estate can appreciate in value and be a sound investment, while cars by and large lose value. So forget that BMW, buy a house instead. Here is a sample of houses available in Canada for the price of a car.
For the price of a 2007 Honda Accord...
...A one-bedroom cottage in southern Saskatchewan
An hour’s drive outside of Regina is this cottage that’s so cheap we couldn’t find a new car to match its price. At $8,000, it’s roughly the blue book value of a nine-year-old Honda Accord. Listing.
For the price of a BMW 5 sedan...
...Three bedrooms in Avonmore, Ont.
This house is arguably commuting distance to Ottawa -- it’s 75 km southeast of the capital. Three bedrooms, but no basement -- just a crawl space. But it's roughly the price of a $60,500 BMW 5. Listing.
For the price of a Lexus RC...
...A three-bedroom house on P.E.I.
P.E.I. probably has the most “car-priced” houses of any province in Canada, with plenty of properties to be found under $100,000. This red farmhouse in Souris comes with a detached garage and is selling for roughly as much as a $48,350 Lexus RC. Listing.
For the price of a Jaguar F-Type...
...Four bedrooms in historic Annapolis Royal
This Nova Scotia house was built in the 1870s and features a “spacious country kitchen, ornate staircase, bay windows, fireplace mantels, gleaming hard and softwood floors, sun porch, and separate work shop,” according to the realtor. It's about the same price as a $78,00 Jaguar F-Type. Listing.
For the price of a Honda Fit, Kia Rio or Toyota Yaris...
...Two bedrooms in Montreal’s cottage country
Less than two hours north of Montreal is this cottage that has to be repaired or demolished before June of this year. That explains why the price is about $2,000 less than the base model of some of Canada’s most inexpensive compacts, which start roughly around the $14,500 mark. Listing.
For the price of a Ford Super Duty...
...Three bedrooms in Manitoba
A three hour drive northwest of Winnipeg is Kelwood, where this three-bedroom house is asking $39,900, or just a few thousand more than the starting price of a new Ford Super Duty pickup truck. Listing.
For the price of an Audi A4 sedan...
...Five bedrooms in oilsands country
The oilsands are suffering these days, which may explain why you can buy this 5-bedroom house in rural Athabasca County, built in 1933, for $39,900, or about four grand less than an Audi A4. Listing.
For the price of a Cadillac ELR...
...Two bedrooms in Lillooet, B.C.
You may not know it driving through the place, but Lillooet, B.C., isn’t actually a ghost town. It’s a short distance from Whistler, but a lot less expensive. This house is selling for about $1,000 more than a Cadillac ELR. Listing.
For the price of a Cooper Mini Clubman...
...Four bedrooms in Nova Scotia
This four-bedroom house is located three hours by car from Halifax, and 15 minutes from historic Annapolis Royal. Listing.
For the price of a BMW X6...
...Two bedrooms in northern B.C.
Bella Coolla, B.C., may be isolated (it’s 1000 km north of Vancouver), but that’s why you can pick up this two-bedroom house for the price of a BMW X6. Listing.
For the price of a Mercedes GLA 250 4MATIC...
...Three bedrooms in rural Ontario
This three-bedroom house in the lake country of east-central Ontario is of unknown age, and “needs renovations.” That’s why it has an asking price of $39,900. Listing.
All photos of houses courtesy Realtor.ca
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