Who doesn't dream of owning their own home one day? It's kind of part of the grand plan, isn't it?
According to a report by Royal LePage, the average salary of someone in Canada born from 1987-1993 is just above $38,000. This means that as a single millennial, you'd typically have a budget of around $200,000 to spend on a house. If you have a double household income with a partner, you'd be able to spend around $400,000.
So the question is, what can that even get you? Well, the answer to that all depends on where you're willing to buy.
If you dream of owning a home in Toronto, Vancouver or Montreal, I hate to burst your bubble, but it's going to take a lot more than $400,000 to make that happen.
However, there are some gems hidden around Canada that could have you living in luxury for a relatively small fee. They may not be like something you'd see in the Hollywood Hills, but it's as close as we're going to get. Pools and waterfront pads? Sounds like luxury to me!
Check out these inexpensive luxury homes around the country.
This three-bedroom, three-bath home is a beautiful waterfront spot. Owners could be on a permenant vacation in their open-concept living space complete with a front veranda perfect for morning sunrise coffees.
Prince Edward Island
This four-bedroom is in a beautiful little community with other luxury homes. In the backyard is an inground pool. Inside is a kitchen to die for.
This property is seriously stunning. It's a million dollar ocean view for less than $400,000! The interior of this three-bedroom home is all open concept. Floor to ceiling windows give the perfect waterfront view.
This four-bedroom home has a pool and waterfront views of the Kennebecasis River. It has luxurious hardwood flooring, a stone fireplace and a soaker tub in the master bathroom.
This three-bedroom property has a massive backyard and walk-in closets. The interior decor features stone walls. While this might be a small-scale luxury, it's in the millennial budget!
This waterfront two-bedroom has beautiful views of Lake Erie. The open-concept kitchen and living room area with panoramic windows ensure you see the lake in all its glory. At $180,000, this is an absolute steal compared to other home prices in Ontario.
This property on Birch lake is a two-bedroom beauty complete with a stone fireplace, vaulted cedar lined ceilings, walk-in closets and a soaker tub. It would make the perfect home or even cottage if you're not ready to permanently move north.
This super modern condo has two bedrooms. It's right in Saskatoon and owners have access to hot tubs, an inground salt water pool, a fitness centre as well as a billiards room.
This modern two-bedroom home has access to a community pool that looks like it would be a paradise in the summertime. There's also a nearby golf course overlooking Lake Diefenbaker.
This is the perfect spot for a single millennial. The condo is part of a community that would be amazing for socializing. Owners have access to a saltwater pool, a hot tub, bowling alley, gym, ballroom, games room, movie theatre and a craft room. Did I mention mountain views?
Now here's a sweet city pad. This two bedroom condo is right in Calgary. The interior is super modern and there's a huge porch overlooking the city. Owners have access to an outdoor pool that screams patio party.
This community of condos is surrounded by mountains. There is also a beach nearby for when you're not in the mood for the beautiful community pool.
This condo complete with vaulted ceilings granite countertops and marble backsplashes screams house party. The spot is close to the Lincoln SkyTrain station for whenever you need to get to downtown Vancouver.