Wednesday, March 8, 2017

Study says $1-million can buy a mansion or a fixer-upper in Canada

The report says real estate lawyers vaughan the best bang for the millionaire’s buck, where it purchased a mean of four bedrooms and four bathrooms.

Saskatoon offered the greatest lot size for $1 -million, where it says dwellings for that cost were practically unheard of a decade ago.

The study analyzed two-storey homes in seven Canadian markets in January 2017.

“There are dramatic differences in the choices available for those people who are looking to purchase a $1-million two-storey house in Canada,” Dianne Usher, senior vice president of Johnston and Daniel, a division of Royal LePage, said in a news release.

“However, critical value may nevertheless be present in the suburbs or city-centres like Saskatoon and Montreal, where dwellings are more affordable, landing you significantly more house with better characteristics as a result.”

Alberta’s recent economic slowdown is good for buyers poor and – for sellers. The report says purchasers looking for $1-million two-storey properties because city get a comparable worth they did 10 years ago.

In January 2017, the average property selling for $1-million in Calgary had 3.3 bedrooms, 2.8 toilets, 2,477 sq. ft. of living area and a lot size of 7,004 sq. ft.

In Toronto 10 years ago, the report says buyers got a lot more for seven amount. Residence investigations in the $1-million cost range in 2007 often created bigger, totally updated houses in notable places like Lawrence, Leaside and Rosedale Park.

It said Montreal’s prices have been climbing since 2007, but the city still offered a substantial quantity of house for $1-million.

The profile of a $1-million buyer was also found to vary by region. Developers and first-time buyers dominated the $1-million two-storey property section in Canada’s biggest metropolitan areas. Rich young to middle-aged professional couples with children acted as the overriding purchasers elsewhere.

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