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How Much Money Do You Need to Buy a Property in 4 of Canada’s Biggest Cities?

Reilly Beesley
Publication date:
January 31, 2023
Article Summary: 

Buying a property in Canada's biggest cities comes with varying costs depending on factors such as location, market trends, and housing type. In Toronto, the average single detached family home in the GTA sits around $1,051,216, requiring a 20% down payment of approximately $210,243. Vancouver remains the most expensive city, with the average home price in Metro Vancouver surpassing $1.8 million, necessitating a down payment of $360,000 for a 20% down payment. Ottawa and Calgary offer relatively more affordable options, with average home prices of $606,227 and $639,000, respectively. Down payments for homes in these cities range from $121,245 to $127,800 for a 20% down payment. Despite varying affordability levels, all four cities require significant financial investment for homebuyers.


Property buying, Canada, biggest cities, Toronto, Vancouver, Ottawa, Calgary, housing market, average home price, down payment, mortgage, affordability, market trends, real estate investment.

Source Citation: 
Reilly Beesley
How Much Money Do You Need to Buy a Property in 4 of Canada’s Biggest Cities?
January 31, 2023
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