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!
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 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.
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.
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?
Your home is likely your largest financial asset, so selling it will require significant thought and strategy. Once you enter the market, the process can move very quickly, so you will want to be ahead of the game by getting your property into top selling shape before it hits the market. Luckily, you can increase your home's chances of selling within the desired window of time and for the highest price with some preparing beforehand.