You see them most often on home design shows, and while it is out of reach for most, there are some properties in Waterloo Region that could run you half-a-million dollars.

But what exactly do you get for $500,000? CTV News found luxury features that range from soaker tubs, to granite counters and even an elevator in some local real estate listings.

For example, if you're looking for that country feeling right in the city, homes in a development in Kitchener's Chicopee area may be for you.

With a price tag just under half-a-million dollars, the newly built homes can be customized to the buyer's specifications.

Jessica Mader with Terra View Homes says "With newer homes you might get a bigger open concept home, because a lot of homes have changed over the years, but you may get a smaller lot as well."

They may be smaller lots, but make no mistake the homes are big. At 2,800 square feet, models include five bedrooms, four bathrooms and lots of shiny new features.

In Waterloo meanwhile, a similar home can cost slightly more.

A three bedroom, three bathroom home in Maple Hills was recently listed at $530,000.

Real estate agent Lee Quaile says "At the end of the day, there isn't that much of a difference between the two pockets. It's pretty close in value."

But, Quaile adds, there are few exceptions.

In Waterloo you can expect to pay more in the Beechwood, Lincoln Heights and Glenridge areas. In Kitchener, Deer Ridge is pricier.

There are some other costs that that can add up, and may make Kitchener look like a more attractive place to buy according to Quaile.

"The cost of living is a little bit less, the home prices are a little bit less. So maybe if that is a factor you can get a little bit more for your money in Kitchener vs. Waterloo."

And when it comes to the bells and whistles, like those elevators and soaker tubs, they're more about making an impression than adding significant value.

But what can add value is a home's potential as an income property with rental suites.

Coming up in part three: What is available if your budget is in the $1 million range?