Article content

The Canadian Real Estate Association has predicted that the national average price for a home will be $391,000 this year.

But it’s hard to compare how far your buck will go in Canadian cities using that figure, since the average prices at year’s end are so very different: $785,574 in Vancouver and $320,693 in Montreal, for instance. So we’ve found a round figure in the middle and asked, what could approximately $500,000 have bought homebuyers in various markets across the country?

We apologize, but this video has failed to load.

tap here to see other videos from our team. Try refreshing your browser, or In Canada's housing market here's what $500 K buys: A lake in Edmonton ... a condo in Toronto Back to video

EDMONTON

The place: Two-and-a-half storey, three-bedroom show home, with double detached garage and 2.5 baths

List price: $499,900

Square footage: 1,901

Taxes: $3,400

Monthly fees: HOA $300/month

Where: Late stage of an established development in city’s southeast, south of the ring road. Forty minutes to downtown, 10 minutes to the airport, and five minutes to a residents-only recreational lake.

Top features: Loft-den, bonus room with Juliet balcony, hardwood, gas fireplace, all appliances, deck and landscaping included. As a bonus, all the furnishings are included. HOA fee includes access to a 32-acre freshwater lake with sandy beach, dock, tennis courts and all-season clubhouse.