Think property values are the same everywhere?
We took a look at real estate listings for 10 local communities to see just what you can get for $500,000.
As it turns out, what half a million dollars buys in Kitchener isn't quite the same as what you can get for it in Cambridge or Guelph -- to say nothing of the red-hot housing market that is Toronto, or more far-flung locations like Georgian Bluffs.
NOTE: All properties profiled below are listed on realtor.ca with prices between $490,000 and $500,000 as of Feb. 15, 2016.
Kitchener
(Anurag Sharma / ReMax Twin City Realty)
Address: 24 Louisa Street
Price: $499,900
Size: 2,382 square feet
Beds and baths: 4 of each
Realtor.ca description: All Brick, carpet free, 3 storey home located in Kitchener with old charm and character and with modern updates and lifestyle with huge family living space and contains self contained basement apartment. Main floor with den, wood burning fireplaces in living room, kitchen and full bath. Second floor with kitchen, sitting room and Master bedroom with 4pc ensuite and 2 additional bedrooms and full bath are just a floor above the main floor. On top level there is an office and loft space. In law suite potential in basement with bedroom, bathroom and kitchen. Backyard is fenced with a patio. Lots of driveway parking spaces available.
Waterloo
(Ronald Hill / ReMax Twin City Realty)
Address: 69 Union Street East
Price: $492,500
Size: 1,486 square feet
Beds and baths: 3 bedrooms, 1 bathroom
Realtor.ca description: Rare offering with this classic Georgian style home in the Mary Allen neighbourhood. 1,500 sq ft with 3 bedrooms, large formal dining and living rooms, garden door to a private backyard with new pergola, deck and shed. Many updates including refinished hardwood floors, windows, roof, heating and CAC, trim, front door, concrete drive and front steps. Attached converted garage perfect for the gym equipment or den. Shows beautifully.
Cambridge
(Emil Burca / ReMax Twin City Realty)
Address: 7 Chidley Road
Price: $499,900
Size: 2,211 square feet
Beds and baths: 4 of each
Realtor.ca description: Gorgeous custom designed home with over $100K in upgrades, ideally located on walkout treed lot on quiet street, just minutes away from all amenities! Features include 9'ceilings, custom casework, extensive use of pot lighting, handscraped hardwood & 12x18 porcelain foors, gourmet maple kit w/granite counters (bathrooms as well), high end Stainless Steel appliances & large center island with breakfast bar, open concept Great Room showcasing gas fireplace with granite mantle, convenient main floor laundry with lots of cabinetry. Beautiful open staircase leads to upper level featuring Master bedroom with cathedral ceilings, WIC & luxurious 5pc ensuite bath, 2 additional good sized bedrooms and large 5pc main bath. Professionally finished basement with additional bedroom, full 4pc bath, workout area and large rec room with walkout to yard. Exterior upgrades include stucco on whole upper part of home, party sized deck, stamped concrete driveway. A Must See!
Guelph
(Hudson Smith / Coldwell Banker Neumann Real Estate)
Address: 17 Regent Street
Price: $499,900
Size: 2,500 square feet (duplex)
Beds and baths: 5 bedrooms, at least 2 bathrooms
Realtor.ca description: I can see downtown! Set right across the street from downtown this unique opportunity could not be in a better location. This duplex has a 1600 sq ft home out front, 2 floors offering 3 bedrooms, and an open concept main floor. The current tenants smoke, but the place was updated recently and offers great potential with its own basement as well. Attached at the back is a 900 sq ft 2 bedroom home, also with 2 floors, and its own basement. This area needs some updating, but current tenants have been there for 8 years and are quite content to stay. This property has some amazing potential in the downtown core that is going through some incredible changes, and it could be a great spot for an owner-occupied scenario, or a great investment for the portfolio. The tenants in main house are leaving and market rents once cleaned up would be $1,700 for front house and $1,200 for the back. Both units are separately metered and have one furnace and water heater.
Brantford
(Brigitte Shaw / Royal LePage Action Realty)
Address: 43 Oneida Drive
Price: $499,800
Size: Square footage not provided
Beds and baths: 5 bedrooms; 2 bathrooms
Realtor.ca description: Time to downsize, then this is your house. Builders own home (2009) with many extras. Cozy heated travertine floors in the kitchen, throughout the basement and baths as well as a heated garage floor. Vaulted 9 ft ceilings, granite kitchen counter with an eating bar, quiet close drawers and under cabinet lighting. The open concept plan on the main level is excellent for entertaining. The French doors leading to the rear deck, provide extra brightness to the di nette area and allow deck access for summer BBQ's. This home has surround sound, California shutters, a tankless water heater, water softener, heat recovery ventilator, pot lighting, individual heat controls in the basement bedrooms and a lovely gas fireplace in the living room and master bedroom. Enjoy the illuminated staircase to the lower level where you will enjoy the large recreation room, two extra bedrooms and what can only be described as a massive sho wer stall, with a heated towel. Two minutes to highway 403, this executive home provides ease of location for commuters.
New Hamburg
(Zlatko Remic / ReMax Twin City Realty)
Address: 38 Orchard Way
Price: $499,900
Size: 1,587 square feet
Beds and baths: 2 bedrooms; 3 bathrooms
Realtor.ca description: Looking to enjoy the benefits of living on one level? Look no further! Elegant executive bungalow home in the heart of one of the most prestigious adult life style neighbourhoods in SW Ontario. Popular Charleston II model featuring almost 2800sqft of living space including finished basement. Sophisticated and elegant this home is enveloped in warmth and comfort. No detail has been overlooked. Open concept kitchen with pantry and dinette, vaulted ceiling great room with fireplace, huge covered deck overlooking green space and Rec. Centre, all brick, covered porch, A/C, HRV system. Central VAC. Fabulous neighbourhood, one of a kind Rec. Centre, walking trails, tennis courts and much, much, more. A must see !
Fergus
(Hudson Smith / Coldwell Banker Neumann Real Estate)
Address: 536 Black Street
Price: $499,900
Size: 2,602 square feet
Beds and baths: 5 bedrooms; 4 bathrooms
Realtor.ca description: There's other houses, then there's this one. At 2600 sq ft it will have the space to accommodate the larger of families and those holiday gatherings. Open concept at the back makes it a great space for preparing dinner and keeping an eye on the kids, yet the formal living/dining split at the front provides the separation needed when kids and parents want their own space. Not that there is any shortage of options, the fully wide open finished basement is a kid's dream, lots of space for the pool table or movie room, and with a fully functional kitchen and bathroom it could be set up as a great in-law suite as well. Boasting four generous bedrooms upstairs, along with a beautiful ensuite and walk-in closet everyone will have ample sq ft in their rooms as well. Can't forget the amazing yard and deck overlooking a pond, it's a peaceful space to unwind and with a neighbourhood so tightly connected, one will immediately feel at home.
Tavistock
(Sandra Eby / Coldwell Banker All Points)
Address: 190 William Street South
Price: $499,500
Size: 2,700 square feet
Beds and baths: 4 bedrooms; 3 bathrooms
Realtor.ca description: Exceptional custom built 2700 sq ft two storey home located in a desirable neighbourhood within walking distance to the golf course, on a 66 x 200 ft lot. Dare to dream to own this great home featuring 3 or 4 bedrooms, 2 1/2 baths, one being a very spacious ensuite, with corner whirlpool bath, pine flooring throughout, spacious eat-in kitchen with maple cabinets and a wood burning fireplace for those relaxing evenings plus french doors to a large deck and inground swimming pool. Exterior of the home offers factory stained cedar, plus a cedar roof. This is one home you don't want to miss. A must see!!
Georgian Bluffs
(Brian Wardell / ReMax Grey Bruce Realty)
Address: 105 Stoneman Road
Price: $499,000
Size: 3,432 square feet
Beds and baths: 4 bedrooms; 2 bathrooms
Realtor.ca description: This 3400sqft home is situated on a 1.49 acre lot only a 30 minute drive from Port Elgin, just west of Shallow Lake. Along with the 4 bedroom, 1.5 bath home is an indoor pool,40 x 60 shop built in 2009 with in-floor heat & 16 ft doors. There is a stunning outdoor fireplace with built in BBQ and plenty of interlocking patio area that is just 3 yrs old. Huge paved drive with separate garage for daily use and 12 x 12 concrete block / bricked garden shed too. The home owner has even levelled out a portion on the yard for an ice rink complete with hydro to light up the night sky.
Toronto
(Nancy Lou Wilson / Keller Williams Advantage Realty)
Address: 168 Westlake Avenue
Price: $499,900
Size: Not provided
Beds and baths: 3 bedrooms; 1 bathroom
Realtor.ca description: Great East York Starter Home In A Fabulous Location. This Much Loved Family Home, Has Been In The Family Since 1955, A Great Corner Lot With Plenty Of Sunshine. A Newer Fenced In Backyard, And Legal Front Pad Parking. Don't Miss The Opportunity To Get Your Foot Into Toronto Home Ownership. This Is A Great Location, In A Wonderful Community - Steps To The Subway, Parks, Danforth Shops, Schools. **** EXTRAS **** Fridge (As Is), Stove (As Is), Furnace (2011). All Drapery Rods (As Is), All Light Fixtures (As Is), Excl. Dining Room Fixture. Parking Legal - One Time Fee Paid.
