Ready to have your mind blown? There are still some parts of Ontario where there are homes for sale for $200,000. And what’s even more surprising is that they’re closer to the GTA than you might think.
According to a new report by Point2 Homes, Kawartha Lakes is the only larger city in Ontario where more than 1% of all the homes for sale are less than $200,000.
The share of $200K listings in the region is around 4.8%, according to Point2 Homes, many of which are vacation homes and cottages.
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Waterloo also has a small portion of properties for around the same price range, at about 0.32% of its total listings, followed by Hamilton with 0.24% and Ottawa with 0.14%.
Atlantic Canada and the Prairies have far more options when it comes to affordable real estate. In fact, 44% of the homes for sale in Cape Breton, Nova Scotia cost $200,000 or less.
Regina’s percentage of homes for sale under $200K is 36.50%, followed by Lethbridge at 26.10% and Edmonton at 24.63%.
You’d be hard-pressed to find affordable homes like these anywhere in the GTA. Unless you’re willing to live in a houseboat in the Scarborough Bluffs, which you can buy for around $335,000.
If you’re looking for a bargain on your future home, perhaps it’s time to set your sights on Kawartha Lakes. At least you wouldn’t have to contend with 401 traffic!