Real Estate

GTA Cheap housing options/listings $500k and less

  • Last Updated:
  • Jul 23rd, 2021 8:50 am
[OP]
Member
Dec 25, 2019
206 posts
227 upvotes

GTA Cheap housing options/listings $500k and less

Hi

im opening this thread becuase im getting tired of asked where are the all cheap houses/condos in GTA particularly in Toronto . i will post some condo townhouses and nice condos that costs less than $500k in GTA here and there , feel free to post if u think there is a good buy.

Criteria: Must be listed less than $500k
Must not be a coop, lease land, retirement home or condemned building
Must be livable no fixer uppers
Must be available no sold with condition or inactive listings ...

Below are couple of them from Mississauga where i think its a good cheap buy since i live in Mississauga,

https://housesigma.com/web/en/house/4KA ... 7-W5169452

https://housesigma.com/web/en/house/JKd ... 6-W5170710

https://housesigma.com/web/en/house/LzQ ... 7-W5172161

https://housesigma.com/web/en/house/eVb ... 3-40076047


u can buy these properties if you or your family income is $100k or $80k a year and carrying no debt. also u will be qualified for %5 government first time buyer incentive...
196 replies
Member
Jan 27, 2018
402 posts
357 upvotes
Tridel condos at 88 and 86 Corporate drive Scarborough town centre are great buys available under 500k for 1+1
Sr. Member
Jul 7, 2019
667 posts
531 upvotes
No condemned buildings?
These have the most potential for a deal!
Deal Guru
Feb 22, 2011
10545 posts
13114 upvotes
Toronto
Unknownname wrote: Tridel condos at 88 and 86 Corporate drive Scarborough town centre are great buys available under 500k for 1+1
I've always thought 38 Lee Centre Dr was good value too.

E4964317 - 2 bed sold for $460k w/ parking and locker, maint fees aren't bad either
Member
Jan 27, 2018
402 posts
357 upvotes
MotoCross817 wrote: No condemned buildings?
These have the most potential for a deal!
As far as I know the ones on corporate drive that I have mentioned and others that have mentioned about Lee centre are not condemned and are well maintained.
[OP]
Member
Dec 25, 2019
206 posts
227 upvotes
jaynometry wrote: How does one know that they're viewing a "condemned property"? Will it say it anywhere on the listing?
Usually condemned houses are vacant and obviously not livable unless you bring it to city code standard. yes they will should tell on listing that house is condemned not livable. there are only couple of condo buildings thats condemned around Jane and Finch area. they are still habited tho. their prices are pretty low compared to anything else in Toronto less than 200K like the one below. i dont know if its really condemned by city , but there is no insurance on the building ,noone is insuring the building because of its problems, because of that you cant get a mortgage and have to pay cash if u wanna buy an unit on one of these buildings . if u are buying a condo just ask for building insurance usually included in main. fee. if they have building insurance , u can get a mortgage; building is not condemned .

https://housesigma.com/web/en/house/nM6 ... 1-W5143550
[OP]
Member
Dec 25, 2019
206 posts
227 upvotes
Below are the cheap listings for today ... they are all less than $500k i think a good buy in Mississauga. i know only the Mississauga area , if you know any good deal less than $500k in GTA , please post based on criteria...

https://housesigma.com/web/en/house/JKd ... 8-W5178947

https://housesigma.com/web/en/house/10Q ... 2-W5171988

https://housesigma.com/web/en/house/eVb ... 2-H4101970
Deal Expert
User avatar
Apr 21, 2004
54676 posts
19490 upvotes
Do these sell anywhere close to the listing price?

At least don't see many of those $0 listings.
[OP]
Member
Dec 25, 2019
206 posts
227 upvotes
alanbrenton wrote: Do these sell anywhere close to the listing price?

At least don't see many of those $0 listings.
yes they do sell around their listing price , since they are condo or condo townhouse , u can easily check the other recent sold units in the same complex , u will see they are selling around what they are asking ... maybe couple of 10k more , sometimes even couple of 10k less ... there arent bidding wars on these listings , because there are many other units available on sale in the same complex, buyers have a choice and dont bid much ...
Deal Addict
User avatar
Feb 4, 2015
1227 posts
807 upvotes
Thanks OP! I was gonna make a thread about exactly this as we want to buy something with 500k rangr and preferably within 1 hour of GTA. I will monitor this and go through the replies!
Jr. Member
Aug 26, 2010
169 posts
81 upvotes
Toronto
Easy401rider wrote: Usually condemned houses are vacant and obviously not livable unless you bring it to city code standard. yes they will should tell on listing that house is condemned not livable. there are only couple of condo buildings thats condemned around Jane and Finch area. they are still habited tho. their prices are pretty low compared to anything else in Toronto less than 200K like the one below. i dont know if its really condemned by city , but there is no insurance on the building ,noone is insuring the building because of its problems, because of that you cant get a mortgage and have to pay cash if u wanna buy an unit on one of these buildings . if u are buying a condo just ask for building insurance usually included in main. fee. if they have building insurance , u can get a mortgage; building is not condemned .

https://housesigma.com/web/en/house/nM6 ... 1-W5143550
Awesome. Thanks for that explanation.
Sr. Member
Dec 24, 2007
789 posts
91 upvotes
GTA
many 1 bed condos below 500sq ft are still under 500K.
[OP]
Member
Dec 25, 2019
206 posts
227 upvotes
barmadrid wrote: Thanks OP! I was gonna make a thread about exactly this as we want to buy something with 500k rangr and preferably within 1 hour of GTA. I will monitor this and go through the replies!

No problem , i just see so many posts for 1m+ houses everywhere on the forum . News also only focusing on expensive houses. Many first time buyers are making modest income in GTA and they are discouraged when they see these posts and news , just showing them there are many condos and condo townhouses within their price range closer to the city. i know the Mississauga area , so the listings i post from Mississauga ...
[OP]
Member
Dec 25, 2019
206 posts
227 upvotes
pandorazw wrote: many 1 bed condos below 500sq ft are still under 500K.
yes but , there are families looking for a place to live , they cant live in 1 bedroom condos , there are still 2 and 3 bedroom condos and condo townhouses under 500K in GTA ...

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