88 Irving Crescent Red Deer, Alberta
Looking to escape your area's crushing housing prices but don't know where to start? Don't worry, Narcity has done some research for you. In fact, we've curated a lucrative list of affordable homes for sale in Canada, with many listings well below $500,000.
Wait, why am I getting a good deal if I buy a home for under $500K in Canada?
Because the raw data doesn't lie. And according to the latest provided by the Canadian Real Estate Association (CREA), the national average home price was a whopping $729,000 in May 2023, up 3.2% from May 2022, and things aren't getting more affordable anytime soon.
In fact, the national average price has gone up by more than $116,000 since January 2023, which the CREA has largely contributed to the "outsized sales rebounds in the GTA and B.C. Lower Mainland".
“The rebound has been evident for a number of months at this point, but May really drove the point home with year-over-year comparisons for both national sales activity and national average home price back in positive territory,” Larry Cerqua, Chair of CREA said in a statement.
On the surface, things look pretty darn bleak. But, don't panic renters, there's still hope. As it turns out, when you cut Greater Toronto and Greater Vancouver out of that calculation the national average price drops off by nearly $150,000.
So, even if you reside outside the country's priciest regions, the average cost still amounts to $579,000, making any property priced below $500,000 an absolute steal. And some of the homes we've put on this list are even well below that.
Given the challenging nature of navigating the country's real estate market, it's evident why these budget-friendly gems below could be compelling enough to entice individuals to explore opportunities in another province.
But, don't just take our word for it, start scrolling and see if anything piques your interest!
Sheet Harbour, Nova Scotia
A bird's eye view of the property
Asking Price: $239,900
Address: 522 East River Road, Sheet Harbour, NS
Description: Situated on a private country lot spanning 0.88 acres of gorgeous green lands is this quaint two-bedroom and two-bathroom home.
If your happy place involves taking in breathtaking views of nature while you sip coffee in your sunroom, this home could be for you. However, if you want to be where the people are, having to travel two hours from Sheet Harbour to Halifax could be a deal-breaker.
Saskatoon, Saskatchewan
The necessary fire place
Asking Price: $499,900
Address: 639 Childers Bend Saskatoon, SK
Description: This 1,511 square-foot two-storey home constructed in 2015 features a living room with an aesthetically attractive gas fireplace, which, let's face it, you're definitely going to need to survive Saskatoon's punishing winters.
But, when it's warm you or your family will be able to enjoy a fully fenced and landscaped yard. So, if you love hosting, this listing might be worth looking into.
Red Deer, Alberta
The home's living room
Asking Price: $487,000
Address: 88 Irving Crescent Red Deer, AB
Description: This updated 2-storey home features just under 2,000 square feet of living space and a completely modern kitchen with upgraded stainless steel appliances and beautiful quartz countertops.
If you're like most humans and prefer natural light over all other kinds of illumination, this house's living room could very well be your soul mate.
It's located in the heart of Red Deer, a city known for being surrounded by beautiful natural landscapes, including parks, rivers, and rolling hills.
Quebec City
The home's open-concept kitchen
Asking Price: $349,900
Address: 418 Rue Jules-Laperrière, QC
Description: What this four-bedroom home lacks in exterior aesthetics, it more than makes up for with its modernized interior. This home would be the ideal swap for someone looking to escape the shoe-box condos of Toronto and Vancouver, for something equally as sleek but twice as spacious.
Regina, Saskatchewan
The exterior of the yellow home
Asking Price: $399,900
Address: 2305 Cornwall Street, Regina, SK
Description: With 1,677 square feet of living space, this charming 2-storey heritage property could prove to be a fitting haven for anyone who appreciates a good period piece. However, even if you prefer a modern home, the price-per-square-footage of this property alone is enough to capture anyone's attention.
Additionally, hosting large events at this property ensures your relatives and friends will never have to fret about parking, thanks to the lengthy gravel driveway that accommodates up to 6 cars.
Kamloops, B.C.
The backyard oasis
Asking Price: $499,800
Address: 1103 Scheriener Street, Kamloops, BC
Description: Located in a family-friendly neighbourhood, this home features 3 bedrooms, a renovated kitchen, and a spacious primary bedroom with a walk-through bath.
Former big city-dwellers and wannabe gardeners will finally be able to earn their green thumbs in this property's backyard oasis that looks like something out of a fairy's daydream.
Hamilton, Ontario
The exterior of 22 Bayfield Avenue
Asking Price: $499,900
Address: 22 Bayfield Avenue, Hamilton, ON
Description: This unique-looking detached home is located in Hamilton's celebrated Crown Point neighbourhood.
With 3 bedrooms and 2 bathrooms, this property is ideal for those looking into starting a family in the near future or at the very least getting a bunch of dogs.
You won't need to worry about having the space for all that though! As this home features a generously sized backyard that comes complete with an attached deck.
Winnipeg, Manitoba
The home's living room area
Jason Stubbington | Century 21
Asking Price: $309,000
Address: 81 Evenwood Crescent Winnipeg, MB
Description: This cozy and rustic home serves up major cottage vibes thanks to its high-end solid wood eat-in kitchen and backyard oasis. If you want to live in something practical that feels like you're up north on vacation all the time, this could very well be the spot for you.
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