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What does $390,000 buy you in a home?

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Earlier this week, the average price of a home in Canada reached almost 400-thousand dollars. That’s an increase of more than five percent. So what kind of home can you get for that kind of cash? We took a tour of some local listings to give you an idea of how far 400-thousand dollars can take you.

The 2011 census called Milton the fastest growing community in Canada — and the price of moving to the city is growing as well.

Chantalle Chasse, Century 21 Future Milton: “Five, ten years ago, the three story homes were selling for about $275,000.”

Located near the new Velodrome, this 16-hundred square foot townhouse is currently listed at just under 430-thousand dollars. It has 3 bedrooms and 3 bathrooms. But no basement, and no yard.

Chantalle Chasse: “Typically you can get a two store 11-hundred square foot home for about 400-thousand. But because this one is backing onto a ravine, there is an upgrade of about 20-30 thousand.”

In Aldershot, a slightly smaller 2 story, 2 bedroom townhouse will get you closer to the 400-thousand dollar price point.

Jon Van Geest, Keller Williams Edge Realty: “So this one has some really nice upgrades. In the Kitchen you’ve got some new cabinetry, granite countertops, undermount sink, stainless steel appliances. And we have two parking spots out back.”

But if you’re looking for some outdoor space, less than 10 kilometres away in Hamilton near Locke Street, this 18-hundred square foot detached is on the market for the same price. Just five years ago, it was listed for 240-thousand.

Derek Doyle, Ambitious Realty Advisors: “The south west as it’s often referred has seen considerable growth over the last probably five years due to changing demographics, due to the walkability of the neighbourhood.”

For the national average price of a home, west Brantford offers this 19-hundred and 50 square foot 3 bedroom family home with a two car garage. Where listings in the GTHA are going quite quickly, in Brantford it takes a bit more time to sell a home.

John Oddi, Royal LePage Action Realty: “It’s been on the market for about a month or a month and a bit. We’ve had a lot of activity on it. It’s just a matter of time and it will get sold.”

It’s a similar situation in St. Catharines where the average house is on the market for about 40 days. Comparatively, your dollar can go far here. For just under 380-thousand dollars, this home boasts more than 2-thousand square feet of living space.

Catherine Poirier, Remax Garden City: “It’s a three bedroom, master with full ensuite, and as you can see it is immaculately kept. Granite countertops, oak kitchen cabinets.”

And then there is the location. Not only is this house directly across the street from a vineyard, but it’s also just steps away from a park with a view of the lake.”

However, if your main concern is a commute to Toronto, some prefer to trade in the space of St. Catharines for the convenience of a small townhouse closer to work.

This of course is just a snapshot. There are so many factors to consider when buying a home. For example, while you get more bang for your buck in St. Catharines, the taxes on that home are about 5-thousand dollars where taxes on the Burlington townhouse are estimated around half that.

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