A few short years ago, buying your first home was considered a rite of passage. It simply came with the territory as you grew up. You finish school, get a good job, and buy a home. But in the current real estate market, nothing is that simple anymore.
Houses have become prohibitively expensive, making it difficult for even high-income earners to achieve the celebrated milestone of owning a home. The situation is particularly challenging in cities like Toronto and Vancouver, where the average house cost is well over $1 million.
There is good news, however. Many highly-desirable and sought-after cities remain surprisingly affordable. Perhaps one of these alternative destinations is perfect for you to put down roots and establish a place of your own. Let’s take a look at a few of our favourite cities in the West for first-time buyers.
Guelph
We could sing the praises of living in Guelph forever. And that is precisely what we do, with good reason! Guelph offers a thriving career landscape and a much lower cost of living than in the GTA. High-income opportunities combined with less expensive houses can be the boost many first-time buyers need to break into the market. And that’s not all, not by a long shot.
As a university town, Guelph has one of the best entertainment scenes in the province, with live music, plays, and festivals to look forward to. And if you’re a foodie, you’re in luck! You’ll find dining options galore, with every cuisine you’ve ever wanted to sample from all over the world.
What does Guelph real estate offer when searching for your first home? The neighbourhoods of Onward Willow, Kortright Hills, Kortright West, St. Patrick’s Ward, and Clairfield-Hanlon Business Park often have lower-priced homes that are popular with first-time buyers and downsizers. The housing stock consists of entry-level condo units, townhomes, lofts, older homes, and updated bungalows. At the time of this writing, the average price for a house in Guelph is $828,780, which is far less than what you’ll find in the GTA.
Did you know that we have an entire course just for first-time home buyers? You can get it for free today right here.
Find out more about Guelph and the surrounding areas right here.
Looking for even more resources for finding and purchasing your first home? The posts below will get you started:
- The Ultimate Guide for First-Time Buyers in Guelph
- Common First-Time Buyer Questions Answered By Mortgage Specialist
- Can You Buy a House With a Poor Credit Score?
Cambridge
The City of Cambridge was formed in 1973 with the amalgamation of Galt, Preston, and Hespeler. It’s located where the Grand River and Speed River meet and lies approximately 25 km south of Guelph and 90 km southwest of Toronto. The high quality of life, complete with picturesque riverside views, attracts people from all walks of life.
The city is surrounded by conservation areas, making it an outdoor lover’s paradise.
- Shade’s Mills Conservation Area offers swimming and fishing in the summer and scenic hiking and cycling trails year-round.
- Dumfries Conservation Area provides 75 hectares of protected wetlands and mature forests.
- Chilligo Conservation Area is located right next to the Speed River, and you can spend hours exploring the marshes, meadows, and forest trails.
Cambridge may look and feel like an unspoilt natural paradise, but the conveniences and perks of the modern city are always close at hand. You’ll find a thriving dining and shopping scene, with many independently owned restaurants and a full array of boutique shops and big box stores.
The real estate landscape in Cambridge offers many entry-level options that are perfect for first-time buyers. Here, the average price for a house is currently $524,493, which is far below the Ontario average of $881,946.
Find out more about Cambridge right here.
Kitchener
Kitchener is known for its incredible and well-designed neighbourhoods, new and old, and a unique sense of community among residents. A quick drive down the tree-lined streets shows you a diverse landscape of modern condo buildings and a plethora of coffee shops, stores, and services. And let’s not forget the DTK Art Walk that showcases the brilliant works of local artists.
Of course, you can ditch the car if you want to. Kitchener is a highly walkable city where you can get nearly anywhere you want to go on foot.
The city draws many young professionals from all over as it is home to the Innovation Corridor. Here, you’ll find some of the top employers in the province, including Google, Communitech, Gowling WLG, and more. It’s no wonder Kitchener has become one of the fastest-growing cities in Canada!
Why should first-time home buyers consider moving here? For many, the abundance of high-paying opportunities is all the inspiration they need. But the benefits don’t stop there. The varied real estate market offers something for everyone, including a selection of houses ranging from high-end detached homes to modest bungalows, multi-unit residences, and condos.
Find out more about Kitchener-Waterloo right here.
What should you be mindful of when beginning your home search? The following resources will help you become an educated buyer:
- Buying an Older Home? Here Are The Red Flags To Watch Out For
- Should I be Concerned About Buying A House With UFFI?
- Should You Look At Listings In A Termite Zone?
Waterloo
Just a few minutes away from Kitchener, you’ll find its twin city of Waterloo. The two cities are so similar that they are often considered interchangeable. However, they are entirely separate municipalities. What makes Waterloo attractive to first-time buyers?
Like Kitchener, Waterloo is a fast-growing city full of innovation and exciting attractions. It also offers a superb public transport system and a thriving career market. And the entertainment scene, shopping district, and fantastic array of outdoor activities are a massive draw for people all over the province!
Unsurprisingly, housing prices have increased in Waterloo over the last few years. Still, the availability of semi-detached homes, townhouses, and condos have helped many people get their foot in the door as a homeowner. Perhaps you will join them sooner than you realize!
Are you ready to begin the search for your first home? Our experts can help you every step of the way, from finding the perfect listing to crafting a competitive offer. Reach out today at info@gowylde.ca or call 519-826-7109 for more information or to get started.
