Like most Canadians, you’re probably wondering, “Where are the cheapest houses near me?”
With house prices going down, even cheap properties are getting cheaper. The latest statistics from the Canadian Real Estate Association revealed that the average price for a home in Canada in March 2023 was $686,731. This marks a decline of 13.7 percent compared to the same period last year. It may be worth considering the option of purchasing an affordable starter property that can be renovated and either resold for a profit or used as a permanent residence to eliminate rental expenses. Keep in mind, however, that the most affordable listings in each province are typically located in smaller, more remote towns, so remote work may be necessary. Many of them also require a lot of work to get them shipshape.
British Columbia: This Two-bedroom Home in Prince George for $64,900
This charming two-bedroom home may be compact, but it has undergone several updates in the last three years. The exterior now features vinyl siding, a metal roof and vinyl windows. Inside, you’ll find modern paint colours, new doors and upgraded light fixtures. Additionally, there are newer countertops, flooring, a furnace and a hot water tank that was installed in 2021.
Alberta: This Two-bedroom Home in Spirit River for $57,000
This two-bedroom home is situated on two lots in Spirit River, just 80 km north of Grande Prairie. It has an open concept living room, dining area and cozy kitchen on the main level, with a good-sized bedroom and bathroom featuring laundry. Upstairs, enjoy the fairytale-like ambiance with a peaked ceiling. Modern updates include grey laminate flooring, white walls and grey trim, plus newer windows, hot water tank, tin roof, bathroom tub and vanity. Outside, there’s a double lot with a 12×23 powered shop, 12×16 shed and garden sheds. You’ll also find mature trees, raised garden beds and vines.
Saskatchewan: A Three-bedroom Home in Bengough for $16,900
This three-bedroom home in Bengough, about 160 km south of Regina, is being sold “as is” and sits on a large lot. The house has undergone some renovations, including the addition of a skylight in the bathroom. The living room is spacious, and there is a convenient main floor laundry. This property is ideal for a handyperson to complete the work. Utilities are not connected, so the buyer will need to arrange necessary inspections to have them connected.
Manitoba: This Three-bedroom House in Ste Rose Du Lac for $23,000
Located about 300 km northwest of Winnipeg, this three-bedroom house definitely isn’t fancy and definitely needs work. The house is 1456 sq.ft. and sits on a large lot measuring 110×175 feet. The property is being sold in “as is” condition and appliances are not included. Who wants a fixer-upper? YOU want a fixer-upper!
Ontario: A Three-bedroom House in Timmins for $60,000
This three-bedroom detached house with 1.5 bathrooms is perfect for first-time buyers, handypersons, house flippers or those looking for an investment property. It’s located in a friendly neighborhood in Timmins, which is about 300 km north of Sudbury. The house requires some TLC but by upgrading this house, you can build equity and create the home you want. There is a lot of potential in this one.
Quebec: Two-bedroom House in Normetal for $16,900
You want cheap? Done! Sure, it’s a little rough on the outside, but there is potential. Built in 1944, this property is in Normetal , is about 120 km up the highway from Rouyn-Noranda. The house features two bedrooms, one bathroom, an attached garage and is situated on a concrete foundation with a crawl space. The home has municipal water supply, electric baseboard heating and fibre-pressed siding. In addition to the garage, parking is available outside.
New Brunswick: A Small House in Allainville for $22,000
If you’re on the hunt for a cozy country home at an affordable price, this property might be worth considering. With a lot of elbow grease, you could turn this house into your starter home or a place away from it all. As a smaller house (one bedroom, one bath), it offers a more manageable and cost-effective option for those on a budget. Situated just 30 minutes away from the city of Miramichi, this location provides a peaceful and serene countryside setting.
Nova Scotia: One-bedroom Bungalow in Glace Bay for $34,900
Located in Glace Bay, this small bungalow offers the basics for a single person or couple: One bedroom, living room, kitchen and dining room. There’s a large utility/storage room with a furnace, a four-piece bathroom and a porch. The property also includes a paved driveway.
Prince Edward Island: Three-bedroom Home in New Perth for $79,900
Situated just five minutes away from Montague and 30 minutes from Charlottetown, this three-bedroom, 1.5-bathroom home offers a quiet and private location on a two acre lot. The property is surrounded by beautiful natural landscapes, including stunning beaches, provincial parks and trails. There are award-winning golf courses nearby too. There’s a large back deck that includes a screened room and sun porch. The property features steel and wood siding, a mature wooded lot and two outbuildings for storage. This listing could be a starter home, investment property or a fun project to create your own castle on PEI.
Newfoundland and Labrador: This Two-bedroom Bungalow in Bloomfield for $25,500
Nestled in the town of Bloomfield, this two-bedroom, one-bath bungalow offers a great opportunity for those seeking a summer weekend retreat. Clarenville and its amenities are just 30 minutes down the road. The the property is being sold “as is, where is” and requires extensive work. But this could be a great project if you’ve got the time.