If you’re looking to buy real estate in Alberta, you’re probably wondering, “Where are the cheapest houses near me?”
Is it possible to find an affordable, really affordable, house in Alberta? Absolutely!
We asked Bernice Dubon of RE/MAX First in Calgary what’s out there and for how much. She found a selection of properties located across the province that fit the bill with price tags much lower than the Alberta average. According to the latest Canadian Real Estate Association statistics, the average price for a home in Alberta in February 2023 was $427,694. This was a drop of 10.6 percent since the same time last year. By way of comparison, the average price in Canada was just over $662,000.
Owning a cheap house in Alberta is not an impossible dream, but you’ll have to adjust your expectations. The cheapest homes aren’t in major centres and are best suited to retirees, investors and remote workers. That said, we included one from Calgary to give you an idea of the cost of buying in the big city.
Look back at the cheapest houses throughout Canada in January and February, and March of this year. Here is what’s available in April in Alberta.
Rochester, Alberta: Two Bedroom Bungalow for $25,000
This two-bedroom bungalow is 1,023 square-feet and is located in the hamlet of Rochester. It’s set on a large lot with a great view. There’s a lot of potential here for DIYers. While Rochester’s population is under 100, there’s still a school (K-9) and a local store for all your needs. Located about 93 km north of Edmonton, big city amenities aren’t too far away.
Dewberry, Alberta: One Bedroom Bungalow for $29,900
This 700 square-foot home in Dewberry needs renovations, but it comes with the opportunity to buy a commercial serviced corner lot, next door, for $1. The house is connected to town water and sewer plus gas and hydro. Dewberry is located in central Alberta, about 70 km northwest of Lloydminster.
Castor, Alberta: Two Bedroom Bungalow for $30,000
Located in Castor, roughly 150 km east of Red Deer, this two-bedroom bungalow includes a covered patio and good-sized dining area. Trees in the large yard offer privacy, though the street is pretty quiet too. The garage is roomy enough for at least two vehicles.
Coronation, Alberta: One Bedroom Bungalow for $35,000
This 555 square-foot one bedroom bungalow was built in 1934 in Coronation, a town of just under 900 people. The town is located in the east-central part of the province, about 100 km west of the Saskatchewan border. While small, this starter home comes with a newly installed metal roof. The house includes some furniture and appliances, so you save even more!
Islay, Alberta: Three bedroom 1.5 Storey Home for $42,900
Yes, it’s a handyperson’s special, but at under $43k for three bedrooms and two baths, this house is still a good deal. Located in Islay, a hamlet just west of Lloydminster, this home has a new roof and some renovations have already been completed, including most of the windows. The hardwood floor is in good shape. Two of the bedrooms are located in the partially developed basement. There’s a decent-sized yard, garden shed and a deck for summer fun.
Galahad, Alberta: One Bedroom, Two Bath A-Frame for $45,000
This unique 4,368 square-foot A-frame is a former church. While there’s just one bedroom, the detached house has plenty of room. It also sits on a corner lot and comes complete with a deck. Galahad, population 111, is located north-east of Red Deer in Flagstaff County.
Falher, Alberta: Three Bedroom, 2.5 Bath Home for $45,000
This 1,275 square-foot starter home looks a little rough on the outside, but it’s much nicer inside. It’s a comfy spot and is located northeast of Grande Prairie in Falher, the Honey Capital of Canada. With a population of around 1,000, town has a large Francophone community. The house comes complete with a big lot, storage shed and mature trees.
Eaglesham, Alberta: Three Bedroom Bungalow for $45,000
In this price range, most properties tend to be fixer uppers. So, if you’re looking for a project, this could be the one. This three bedroom, one bath bungalow is located in Eaglesham (pop. 76), a hamlet in northern Alberta, roughly between Grande Prairie and Peace River. There’s a garage, storage shed and a yard with mature trees. If you’ve got kids, you’re in luck as there’s a K-12 school right in town!
Nampa, Alberta: One Bedroom, One Bath Bungalow for $49,000
Plain and simple, but that’s OK. This little house works as a summer home, rental or a cozy spot for a couple. Located in Nampa, a short drive down Highway 2 from Peace River, this house has new shingles, windows, flooring and much more. There’s a shed and if you need more space, you can easily build a garage.
Calgary, Alberta: Four Bedroom, Two Bath Bungalow for $349,900
According to CREA, the average price in Calgary is $518,100, so if you’re looking for something affordable in the city, this could be the place. This house in Albert Park/Radisson Heights is 816 square-feet and features hardwood flooring, a bright family room and a large rec room. City conveniences (schools, shopping, transit (LRT) are just minutes away.
Whether for a starter home or investment property, this could be the city deal you’re looking for!
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