The average value of homes in Ontario was revealed and is actually smaller than you might think. Taking into consideration the sizes, the conditions of the houses and the market, the average home is valued at only $ 440,000.
Of course, you will not find this surprisingly affordable price in Toronto a lot, but you do not have to go that far too. In fact, the city of Hamilton, about an hour's drive from Toronto, is one of the only places in Ontario where you can find over one hundred houses for less than the provincial average.
Hamilton is becoming a real estate buyer's paradise lately and now it's obvious why. With the provincial average revealed at $ 440,000, it is clear that Hamilton not only has hundreds of homes at this price, but even below that too.
These are not condos, but real houses, both houses and detached houses. For example, in Hamilton, there are at least 35 homes that are currently on the market for less than $ 300,000, almost all of which are totally separate.
Hamilton is even better for buyers of millennial homes and extremely low house prices are not the only reason why. By 2016, demographics revealed that the millennium generation was Hamilton's largest population group. That means you'd be in good company if you decided to move there.
The city of Hamilton still has a homebuyer assistant program for low income people who would be looking to buy property there. The program awards a forgivable loan to beginner buyers who currently rent in Hamilton and have a family income of less than $ 80,000, which again seems destined for the millennials.
Hamilton may be the best place for buyers of millennial homes but it is not the only place with houses below the provincial average. You can also find affordable homes outside of the GTA, as well as Keswick to the north, and Oshawa to the east, among others.
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