Real Estate

Affordable detached houses in Ontario/Canada?

  • Last Updated:
  • Mar 25th, 2019 1:19 pm
Deal Fanatic
User avatar
Dec 25, 2012
5437 posts
4855 upvotes
Toronto

Affordable detached houses in Ontario/Canada?

Out of curiosity are there still areas in Ontario or even all of Canada, where you could get a fully detached house for under $200k and not live in the woods? I looked into Elliot Lake, but seems like a mostly dead town with it's own issues. Has anyone lived in a smaller town/city in Canada, how has your experience been?

I'm wondering if such an area exists or how close one can get.
  • Manageable weather (no flooding, extreme cold, etc)
  • High speed internet
  • Low pollution
  • Low crime rate
  • Access to major retail stores within 50 km
  • Average population isn't retired/under 40 people actually live there
40 replies
Deal Addict
Feb 19, 2017
3259 posts
3285 upvotes
Man under 200k is a tough one. Uhhh, Belleville area? Honestly most small town Ontario is full of old people and there's not a whole lot of bustle left in em...all the young successful types go to the cities where you generally won't find those prices easily (at least not that are good quality).
RFD is love. RFD is life. I wish I had an RFDer for a wife.
Deal Addict
Jan 20, 2016
2028 posts
1013 upvotes
Houston, TX
LoANeal wrote: Man under 200k is a tough one. Uhhh, Belleville area? Honestly most small town Ontario is full of old people and there's not a whole lot of bustle left in em...all the young successful types go to the cities where you generally won't find those prices easily (at least not that are good quality).
No brainier if you step out from GTA.

Nova Scotia, Quebec...

Heck, even in Ontario there are lots of places with 200k detached.

Realtor.ca could help

What a trolling thread...
Make the face great again
Deal Expert
Feb 22, 2011
16504 posts
21843 upvotes
Toronto
LoANeal wrote: Man under 200k is a tough one. Uhhh, Belleville area? Honestly most small town Ontario is full of old people and there's not a whole lot of bustle left in em...all the young successful types go to the cities where you generally won't find those prices easily (at least not that are good quality).
Seems about right;

https://www.realtor.ca/real-estate/2021 ... belleville
Deal Addict
Dec 30, 2012
1098 posts
1147 upvotes
Toronto
If you're willing to raise your maximum to 250-275K, then Kingston ON becomes an good option.

Lots of small detacheds available in that range. If you can swing 300-325K, then you will have your pick.

Fairly lively by small-city standards. Large, highly-ranked university, so plenty of bars/restos.
Member
Aug 21, 2011
264 posts
234 upvotes
Pretty much anywhere in the Maritimes (NB, NS, PEI) including the major population centers. Lots of detached newish or somewhat older renovated detached houses for under that. In some areas land is so cheap you could build your own house for around 200k all in.

Most people would say the issue is finding a decent job though if you were actually planning to move
Deal Guru
Dec 11, 2008
13063 posts
3754 upvotes
nico29 wrote: Pretty much anywhere in the Maritimes (NB, NS, PEI) including the major population centers. Lots of detached newish or somewhat older renovated detached houses for under that. In some areas land is so cheap you could build your own house for around 200k all in.

Most people would say the issue is finding a decent job though if you were actually planning to move
You sure?

I was in Halifax this summer and saw listings and detached ones that are not old are like $400k now
Banned
Jan 9, 2019
53 posts
76 upvotes
civiclease wrote: If you're willing to raise your maximum to 250-275K, then Kingston ON becomes an good option.

Lots of small detacheds available in that range. If you can swing 300-325K, then you will have your pick.

Fairly lively by small-city standards. Large, highly-ranked university, so plenty of bars/restos.
Kingston? I just checked, I see 7 listings on bungol and I don't think I'd even let me dog live in any of them.

Unless I'm missing where you're looking? They also weren't under 300k.
Newbie
Aug 15, 2018
96 posts
117 upvotes
Windsor has tons of detached houses under 200k.
Deal Expert
User avatar
Apr 21, 2004
58648 posts
24637 upvotes
Surprised OP doesn't need a job, haha, or maybe fortunate to be among those who can telecommute everyday.

Investing forum must be very helpful in that regard.
Member
Aug 21, 2011
264 posts
234 upvotes
speedyforme wrote: You sure?

I was in Halifax this summer and saw listings and detached ones that are not old are like $400k now
A bit tougher in Halifax for sure, lots of older houses outside of the core for under 200k, nothing brand new though you're right. What I said would still apply to the rest of the Maritimes, except for maybe Charlottetown which has been getting expensive lately.
Deal Guru
Dec 11, 2008
13063 posts
3754 upvotes
nico29 wrote: A bit tougher in Halifax for sure, lots of older houses outside of the core for under 200k, nothing brand new though you're right. What I said would still apply to the rest of the Maritimes, except for maybe Charlottetown which has been getting expensive lately.
Yeah I was checking Charlottetown too and was shocked how expensive it was there given there wasn't much to do haha.

In the end, don't think I will retire in Maritimes, just not developed enough for me yet.
Member
Oct 22, 2017
223 posts
305 upvotes
speedyforme wrote: Yeah I was checking Charlottetown too and was shocked how expensive it was there given there wasn't much to do haha.

In the end, don't think I will retire in Maritimes, just not developed enough for me yet.
Any idea why Charlottetown is getting so expensive? Haven't done much research into it yet but just curious
Member
Aug 21, 2011
264 posts
234 upvotes
wa88gta wrote: Any idea why Charlottetown is getting so expensive? Haven't done much research into it yet but just curious
https://www.cbc.ca/news/canada/prince-e ... -1.4376394

This article mentions immigration and low inventory, I would also think that tourism/airbnb market and people retiring from elsewhere in Canada would account for some of it
Deal Fanatic
Jul 4, 2004
7429 posts
4675 upvotes
Ottawa
I think you can find this outside of Ottawa (Renfrew, Pembroke, Kempville, Cornwall, Hawksberry, etc) and in tons of other small rural towns. (except maybe for your "people under 40 living there" - no idea what the demographics of these places are).
Banned
Jan 9, 2019
53 posts
76 upvotes
alanbrenton wrote: Surprised OP doesn't need a job, haha, or maybe fortunate to be among those who can telecommute everyday.

Investing forum must be very helpful in that regard.
If the house is under 200k, it's pretty easy to be mortgage free or have barely any mortgage and work whatever job you want for the rest of your living expenses.
Deal Expert
User avatar
Apr 21, 2004
58648 posts
24637 upvotes
Lockelamora wrote: If the house is under 200k, it's pretty easy to be mortgage free or have barely any mortgage and work whatever job you want for the rest of your living expenses.
true but based on Net Present Value, it makes more sense to earn more after-tax income and have a reasonable mortgage than to have little income and be mortgage-free, correct?

I mean, I would rather have a $200k mortgage and make $35k more of after tax income a year (x2 with my wife) than the other way around, be mortgage-free but make $70k of after tax income less since mortgage can be paid of in three years and then going forward, we accrue the benefits of higher income, mostly found in major city centers.

That's probably the reason why most immigrants (and even Canadians from cities/towns that have high unemployment rates or fewer opportunities) flock to major city centers even with higher rental/property costs.
Deal Guru
Dec 11, 2008
13063 posts
3754 upvotes
alanbrenton wrote: true but based on Net Present Value, it makes more sense to earn more after-tax income and have a reasonable mortgage than to have little income and be mortgage-free, correct?

I mean, I would rather have a $200k mortgage and make $35k more of after tax income a year (x2 with my wife) than the other way around, be mortgage-free but make $70k of after tax income less since mortgage can be paid of in three years and then going forward, we accrue the benefits of higher income, mostly found in major city centers.

That's probably the reason why most immigrants (and even Canadians from cities/towns that have high unemployment rates or fewer opportunities) flock to major city centers even with higher rental/property costs.
Also plus the unemployment rate is much higher in Maritimes than say Toronto for example.
Deal Expert
User avatar
Apr 21, 2004
58648 posts
24637 upvotes
speedyforme wrote: Also plus the unemployment rate is much higher in Maritimes than say Toronto for example.
Maybe get something in Scarborough for $350k or less with a $150k mortgage and then husband and wife make $60-70k each.

I know forestry people up north make $65k and up (this was in the mid 2000's) but not sure if the government is still funding them well. Properties where they live must still be in the $200-250k range so easily mortgage free in no time but then again, I'm sure a lot of these jobs require connections, just like many trade jobs do (for apprenticeship and all).
Member
Mar 10, 2009
317 posts
281 upvotes
Toronto
alanbrenton wrote: Maybe get something in Scarborough for $350k or less with a $150k mortgage and then husband and wife make $60-70k each.
What? Where the hell can you get a detached house in Scarborough for $350k??

Top

Thread Information

There is currently 1 user viewing this thread. (0 members and 1 guest)