They say it’s hard to buy a home in Canada. But just how hard is it really?
According to the Canadian Real Estate Association (CREA), the average price for homes sold this past December increased to an amount just shy of half a million – $496,500 to be exact. Such represents a 5.7% jump from the year prior… So yeah, it’s pretty hard.
In Toronto, the real estate situation is a whole different story.According to Rent Seeker, the average home price in Toronto is a staggering $630,858. When you do the math, aspiring homeowners would require a yearly salary of $126,530 in order to be able to afford a property at that price… Which begs the question – why not consider buying a home somewhere else?
The Salary you need to buy a home in city’s across Canada.
Image by Narcity