It's no secret that Toronto is one of the most expensive places to buy a home. But what some first-time buyers might not realize is that the further you go from the city, the further your money goes as well, meaning you can get a lot more space.
While $500,000 can buy you a one bedroom in Toronto's King Street West neighbourhood, in Waterloo that same amount of money can buy you more than double the space. Here's what you get in each city.
In Toronto, $499,999 can buy you a one bedroom, one bathroom condo in the heart of the Fashion District. The condo boasts views of the lake and the CN Tower, which modern features like a spa bathroom and 9-foot ceilings.
The condo, located on King St W also has a fitness center, rooftop infinity pool, and a 24-hour concierge. The total size of the condo is about 645 square feet.
Meanwhile, in Waterloo, you can get a 4 bedroom, townhouse as part of a new condo development being built in the city, and it's close to both universities.
The condo is technically a three bedroom plus one den, and in terms of features it has all brand new stainless steel appliances and includes parking. The renderings show rooftop patios on the townhomes. The total size is around 917 square feet, almost double the Toronto condo.
Other popular cities outside of Toronto where home buyers can get more bang for their buck are Hamilton, Barrie, Keswick, Guelph, and Kitchener.