Home prices in the larger Canadian centres such as Vancouver and Toronto are making younger people re-think the way they will approach the real estate market.
Younger couples and families are looking beyond the city borders now and are even considering averting their careers to start out in smaller cities or in satellite cities around the larger urban centres.
In Toronto, for example, the average price of a home has reached more than the million dollar mark at $1.08 million this August. In Winnipeg, however, the average price for a home is approximately only $300,000. Housing affordability across the country is extremely variable and as the prices of homes continue to rise in the urban markets, more and more young people are taking a look at all of their different options.
In the past, many young people were making their way towards the larger metropolitan centres such as New York, Vancouver and Toronto. This is where a number of jobs could be found and it was almost like a rite of passage for people that grew up in smaller cities and towns to head out to the larger cities.
Now, however, the options are more limited as young people not only consider the jobs available but also the housing market. In many cases, even with an appealing job market, the real estate scene and monthly mortgage prices are holding many people back.
It’s time to start taking a look at your options and learning more about the average price of homes in different towns, cities and other major urban centres across the country. If you are currently already in the real estate market and are having a hard time keeping up with your mortgage payments and need a short-term payday loan, please feel free to contact us today through our website at moneydirectstore.ca.