It is no secret that Ontario is known for its Lakeside Park Carousel, Canadian War Museum, recreational opportunities, diverse culture, Niagara Falls and much more. Buying a house in Ontario is a dream come true. Well, to make things hassle-free for you, Square Yards is here to give a rundown on the list of affordable cities of Ontario to buy your dream house in. For your information, Ontario is amongst the most populous Canadian provinces, located in central Canada with 38.3 of the nation’s population. Anybody would want to locate in the best cities of Ontario as it is the home to the Country’s capital city Ottawa and the Country’s populous city Toronto.
Beyond this, the natural diversity of Ontario entices people as it encompasses magnificent provincial parks, vast forests, four out of the five Great Lakes, and the renowned Niagara Falls. Ontario is the main economic hub of Canada which is also one of the main reasons why everyone wants to live in Ontario. Despite knowing the positive aspects of this province. You must have also thought of the cheapest place to live in Ontario and why not! This is the first thing that strikes our mind when we plan to invest in properties. However, you must always buy a home in the city that promises development in the foreseeable future. So, let’s hunt for the cheapest houses in the fastest growing cities of Ontario.
Where to Live in Ontario?
Buying house in Ontario is a sure-shot hassle as it takes time to filter out your choice of city, location, and surroundings. Fret Not! As we have done this research for you already and now you are just a step away from move-in into your new home. Have a look at the below-mentioned list of best cities to live in Ontario where you would love to buy your new home.
Affordable Cities To Buy House in Ontario
There are several cities in Ontario you must be thinking of buying a home in. But when the options are similar it becomes challenging to make a decision. So let’s solve this issue by comparing cities according to the size and by strolling one by one.
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Large Cities in Ontario
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- Barrie
- Toronto
- London
- Guelph
- Windsor
Well, this is the list of cities in Ontario where you can plan to buy a home without affecting your career and your lifestyle. Also, these cities are best for a single-family home and that too on a single income. Yes, this is quite shocking but yet possible to build your dream home in these large cities. But wait, this is not sufficient to make a decision, you must always measure the map of different sized cities to find where your requirements best fit in. After going through the list of affordable top cities in Ontario let’s also walk down the lane of medium-sized most affordable cities in Ontario to offset your income and assets with convenience.
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Medium-Sized Cities in Ontario
- Sudbury
- Stoney Creek
- Thunder Bay
- Sarnia
- Sault Ste Marie
Mentioned above is the list of best cities in Ontario to live with great affordability in median income. According to many locals, these cities offer a quality life with an assortment of amenities like health care, top-rated elite schools, excellent connectivity and a thriving art scene that gives your life an easy go. Well on the other hand if you are a nature lover, a loner, or do not like a fast life instead of looking for peace then you must not miss out on the below-listed best small towns in Ontario to live in.
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Small Cities in Ontario
- Deep River
- Smooth Rock Falls
- Rainy River
- Marathon
- Englehart
The names mentioned above are some affordable cities of Ontario to live. The affordability of these cities is proven by many who have already shifted or bought a home here. Besides being the cheapest place to buy a house in Ontario, the picturesque beaches, snowmobile trails, and extensive cross country ski trails hereby attract people to live around its natural beauty. But this is just the location you have mapped yet, and you need to know the costs too, right? Then why not also understand the prices in the province with the details below. Because this is where residents actually struggle to fetch the right price with the right place.
Expense of Living in Ontario
After measuring the cities on the map of size and surroundings let’s now also understand the expense of living in Ontario. Of course, location is imperative but you cannot leave the cost behind. You are now halfway away from buying house in Ontario, as we are assuming you must have already mapped your choice of location based on the specifications above. Now you are only left to balance your budget with your choice of location. So, let’s step towards opening the door of your new home in Ontario by crafting your budget in accordance with your income.
Ontario is amongst the most populous and expensive provinces in Canada. Therefore, besides being populous and expensive it is also expansive. And all the cities of Ontario have different radicals, thus the cost of living differs. Some large and popular cities like Ottawa and Toronto are expensive. On the other hand medium-sized and small cities like Thunder Bay and Englehart are some cities in Ontario with affordable housing.
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- Toronto- The capital of Ontario and the most populous city, thus it has a high cost of living. The estimated monthly cost for a family of four is C$6,079 and the estimated monthly cost for a single person is C$3,474. The cost of living in Toronto is way more expensive than 82% of cities in the world.
- Ottawa- The capital of Canada is located on the bank of the Ottawa River with Victorian architecture, museums, and the center of Parliament Hill, thus it is expensive too. The estimated monthly cost for a family of four is C$5,339 and the estimated monthly cost for a single person is C$2,825. The cost of living in Ottawa is way more exorbitant than 66% of cities in the world.
- Thunder Bay- a medium-sized city, which is based on the world-famous freshwater lake, Lake Superior. The estimated monthly cost for a family of four is C$4,164 and the estimated monthly cost for a single person is C$2,003.
- Englehart- is a small town in Canada based on the bank of river Blanche. Also, the cost of living in Englehart is 27% lower than in Ontario.
Based on the above-explained cost of living measures as per city size. It is easy for you to buy the most affordable home at your choice of location.
Residential Property in Ontario
We look after each property as our own, a unique reasonable property to fulfill all your needs. It fuels our capability to build lasting bonds with stakeholders; partnerships based on transparency, knowledge, and trust. If you are wondering about buying a property in a residential area in Ontario then Ottawa, Guelph, Waterloo, Thunder Bay, and Barrie are some best places. You will get affordable yet standard living with all-important necessities along with several employment opportunities. Also, these places are safe as per the family’s concern with good public transportation services in the area too.
Commercial Property in Ontario
Looking for a place exclusively for a business purpose be it for medical office, hotels, malls, warehouse, garage, retail, restaurant, grocery, or banks. You can always find out one in the city side of Toronto, Ottawa, and Kingston. But if you are looking for an industrial land then do look in the city’s outskirts.
Buying Houses in Ontario For Non-Residents
The procedure for buying house in Ontario is the same for both residents and non-residents. Just with one add-on tax, even non-residents can buy property in Ontario. It is legal for non-residents to buy a property in Ontario by following proper procedure that required to purchase any property. The procedure includes all the mandatory taxes and for non-residents. There is an additional tax under the name of Non-Resident Speculation Tax. Also, there are some exceptions that could be applied at the time of purchasing a property. Now besides, buying house in Ontario if you are looking out for renting the cheapest home in Ontario then do check the list below.
Cheapest Places to Rent in Ontario
Tired of paying high rent that burns a hole in your pocket? No worries, you can try the below-listed places to save your earnings.
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- Thunder Bay– Thunder Bay is largest cities of Ontario, and the average rent for a one-bedroom is $1,265.
- Kingston– the average rent in Kingston for a one-bedroom set is $1,769.
Besides these places, there are some others like Hamilton, Kitchener, and Nepean with the cheapest rents in the province. In addition, for buying or renting a home in Ontario, people look for residential and commercial property in Ontario.
Connection With Other Cities From Ontario
Ontario is a populous province and is located in the coveted region of central Canada. This is the prime reason it is sharing borders with different cities like in the west it is connected with the province of Manitoba. If talking about east and northeast – Ontario is connected with Quebec. Besides provinces and cities, Ontario also shares a border with Hudson Bay, the second-largest Bay of the world. Canada runs a luxury goods chain under the name of Hudson Bay as it is the largest source of fur. Thus, these all aspects make Ontario a populous province where anyone would love to buy a home.
Employment Rate in Ontario
The employment rate of Ontario releases four times per year. It gives an assessment of the current development and trends in the Ontario market. The employment report of Ontario is also a companion report to OEC. Ontario Economic Accounts which gives the entire assessment of Ontario’s economy. As per the data, the employment rate of Ontario grew by 0.7% year by year. This report gives an overview of the overall Ontario labor market. Progression in the employment rate of Ontario also fetches people’s attention who seeks growth. And it becomes one of the major reasons why people look for the best cities to live in Ontario.
What’s More?
Well, what more, you want? You are already doing great in life and it’s time of buying house in Ontario. It is the best next step of your life that will lead you towards more success and comfort. Ontario is best known for buying a home due to its potential growth, location, and affordable living. Buying a home in Ontario is an advantage for you as it is located in east-central Canada which will keep you connected with several other provinces, bays, and some of the US states. In a nutshell, your investment will not go in vain because Ontario is located in a prime location which is the reason why the prices of houses continue to skyrocket.
You May Also Read
| How To Buy a Duplex House in Canada | Buy a Duplex House in Canada |
| Guide To Buy Homes in Toronto | Buy Homes in Toronto |
| Know How To Buy a Leasehold Property in Canada | How to Buy a Leasehold Property in Canada |
| All About Buy a Home in British Columbia | Buy a Home in British Columbia |
Frequently Asked Questions (FAQs)
Keep the following in mind when investing in property- Know your credit score, have a pre-approved lender beforehand, have full knowledge of condo fees, don’t look for design, work with a skilled and experienced real estate agent, keep closing costs and fees in mind and learn the actual value of the property.
The most affordable locations to buy a house in Ontario are Pickering, Thunder Bay, Sudbury, Rainy River, Sault Ste. Marie, Windsor and Kingston.
The eligibility criteria to buy a home in Ontario are- The member must be 16 years of age or older, and they must be a Canadian citizen, refugee status claimant or permanent resident. They must not be registered under a deportation, departure or exclusion order to leave Canada. What all to keep in mind when planning to buy a house in Ontario?
What are the cheapest locations to invest in Ontario?
hat is the eligibility criteria to buy a house in Ontario?
