If I was in the market for a new flat screen TV, I would take a look at the various options and prices. Let's pretend that I go into one store and the price of the TV I want is $1,000. However, I decide to think about it and then go and visit another electronics store down the road. That second store, to my delight, is selling the exact same TV for $500! Which one should I choose?
Okay, that's a rather simple scenario. Nonetheless, it makes me think about housing prices. This recent article in the Toronto Star reports that the average price for a detached home in Toronto shot past $1 million dollars. That's not cheap! If someone in the Greater Toronto Area is in the market for a home, or perhaps in a position to sell a home for that much money, what would they get if they headed a bit East to Hastings County?
According to this Cottage Life Real Estate report, you could buy a waterfront cottage in Hastings County for around $218,000. If you're willing to spend a little more, you could buy an entire estate for $500,000! While the waterfront estate mentioned recently sold, it's a great example of what one would get for 50% of the cost to buy a detached house in Toronto.
How about view below why folks are choosing to leave the city.