What Will $500,000 Buy You in Today's Market?
Have you ever wondered how far $500,000 will go in today's real estate market? How about in neighbouring cities?
We took a look at what half-a-million dollars will buy you in Kamloops, Kelowna, Chilliwack and Vancouver. Read below to see what we found!
Kamloops Single Family Home in Juniper Ridge
KAMLOOPS
2385 Qu'Appelle Blvd
5 bed, 3 bath
$499,900
2100 sq ft single family home
Starting right here in Kamloops, we found a fantastic Juniper Ridge home with an in-ground pool! You'd also get a large yard, be within walking distance to one of the best schools in SD73, and spacious living on 2 floors. No, you won't get a brand-new or fully-renovated home in Kamloops for this price, but you will get a great, functional, move-in ready home to raise a family.
Kelowna 2 Bedroom Single Family Home
KELOWNA
767 Clement Ave
2 bed, 1 bath
$499,000
846 sq ft single family home
This single family home may be small, but it does have a detached double garage! It would make a great place to live (albeit small for a family), or purchase as a rental. This property is also zoned for future land use Multiple Unit Residential (medium density), which would also make it a great holding property.
Single Family Home in Chilliwack
CHILLIWACK
46053 Fifth Ave
3 bed, 2 bath
$499,000
1011 sq ft single family home
For now, this is a single family home right in Chilliwack, but it can be rezoned for future industrial uses (manufacturing, warehousing, processing and an accessory dwelling). Something to keep in mind for sure, especially if you are truly looking for a home to raise a family in.
An apartment building at 6555 Victoria Dr
VANCOUVER
305-6555 Victoria Dr
1 bed, 1 bath
$495,000
503 sq ft apartment
Although you won't find a single family home in Vancouver for $500K, you could get a smaller, new (2017), 1 bedroom apartment. It also comes with ONE parking spot (which is rare!), and walking distance to all amenities. However, you won't get a yard or any extra bedrooms, so you likely wouldn't be able to have a pet or raise a family in this home.
There you have it! Four very different options in four different cites to spend your half-a-mil!
If you ask us, Kamloops is the clear winner - which home would be your first choice?
