Location or space? What are you willing to pay for?
A new infographic based on analysis from Point2homes.com offers a great visual snapshot of the trade-off between space—typically found in less urban areas—versus location (typically the denser, more urban spots).
The result is a visual representation of how much space $300,000 would buy you across 30 Canadian cities.
For instance, you could purchase a 339-square-foot condo in Vancouver or opt for a 1,210-square-foot place in Abbotsford, a city just 90 minutes southeast of Vancouver. In Ontario, you can get a 520-square-foot condo in Toronto or almost double your space (at 1,008-square-feet) by moving east to Hamilton, Ont.
No one will be surprised that Vancouver and Toronto are two of the five most expensive cities, when it comes to square-foot costs, but rounding out the top five is Richmond, B.C. as well as two Ontario cities: Richmond Hill and Oakville.
The complete square footage breakdown is, as follows:
St. Catharines: 1,316-square-feet
Greater Sudbury: 1,282-square-feet
Richmond Hill: 367-square-feet
Quebec City: 1,485-square-feet
- for our study we looked at the 50 biggest cities in Canada (in terms of city population) and selected 30 based on data availability;
- sources used were a mix of listings available on Point2 Homes, Realtor.ca, and agents’ own listing databases;
- home price per square foot data in the cities below was offered by the following agents, whom we’d like to thank:
Francesca Stalteri, Realtor, Richmond Hill, ON
Jamie Vieira, Realtor, Oakville, ON
Mariana Ivanova, Realtor, Toronto, ON
Kevin Baker, Realtor, Kitchener, ON
Jack Dyer, Realtor, Cambridge, ON
Kim Kunselman, Realtor, St. Catharines, ON
Nazar Hameed, Realtor, Mississauga, ON
Sam Wyatt, Realtor, Vancouver, BC
Amy Assaad, Realtor, Montreal, Laval, Quebec City, Gatineau, Sherbrooke, QC
Correction: The graphic originally mis-stated that Richmond Hill was in B.C. and not Ontario. This was corrected and updated on January 11, 2017.