Photo Credit: Jenni Watson
Living near Vancouver, BC, we can't help but be hyper-aware of the rising cost of real estate, but did you know that Vancouver was recently ranked as having the second most expensive housing costs in the world, second only to Hong Kong? In Vancouver the average price of a single family detached home lands between $800,000 - $900,000.
Here in Central Vancouver Island (a short boat or plane ride away from Vancouver) a comparable home is priced in the $345,000 range. If you have a larger budget, $500,000 will get you something along these lines.
This interesting article explores what $500,000 gets you in cities across North America- an interesting and sometimes surprising look into today's real estate market.