There are a lot of factors to take into consideration when considering the purchase of Kitchener Waterloo ON real estate. You want to be sure, for example, that a detached home is a better choice for you in Kitchener than a Toronto condo would be. You don't want to waste your time looking at houses when it would be better served searching the condos for sale downtown Toronto.
Another factor to consider is comparative prices. You may have a job in Toronto (leading to the question about condos in the first place) but what you really want is a home to raise a family in. It's possible to easily commute between the metropolis and the many cities around it. People working in Toronto live in Markham homes and others in areas around the city.
To help you out in your decision making process, we're going to take a look at Kitchener Waterloo and how much the average two storey, three bedroom home will cost there as well as in Toronto and in the slightly smaller city of London.
We'll start out small. Small of course is comparative, as London Ontario is a lot bigger than most cities in the country. Still, it's big enough to support a healthy real estate market with plenty of options, as any London Ontario condo owner will tell you.
At the low end of the spectrum in London are older three bedroom, two storey homes. The very lowest price we could find for an older home was $104,000. That's a pretty good deal, but keep in mind that there might be a lot of work which needs to be done on a home that old and in that price range. It might be more worth your while to rethink your decision about buying a Toronto Condo! At the high end of the spectrum for two storey three bedrooms in London are the newer houses, which top out around $340,000. Again, not bad for a house that needs no work done at all. The majority of houses of this type in London will be from $240,000-$260,000.
Moving on to the next biggest city in size, we find older detached homes in Kitchener Waterloo selling for $166,000 at the bottom end of the scale. Note the price increase! That's how it works as we get to progressively bigger cities, as any Brampton real estate agent can tell you. Mid range and average prices for homes here will be $260,000-$300,000. At the high end are the custom built homes in the best neighbourhoods, look for prices above $600,000.
That might seem like a lot, but then move on over to Toronto and you'll see what high price really means in real estate. A small two storey house with three bedrooms in the big city will start at $450,000, and those sell quickly. There, the average price is above the $550,000 mark; and at the high end the sky is really the limit.
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