Any Canadians here? Real estate question

Question

My husband and I have a little over 100k in our savings and are thinking of buying a house. We are not currently living in Canada but are planning on moving in the next two years. I'm wondering firstly if 100k is enough to get an ok mortgage?? Also where would you recommend a nice place to look for a house in Ontario? Preferably close to Toronto because that's where we will be working. Any small cute towns nearby?? We want a family house as we have two kids. Any advice would be hugely appreciated!! Thank you in advance!

Answer

Unfortunately, 100k doesn’t go as far as it used to. But as others said, it will depend on the cost of your house. I definitely would not recommend getting a place in Toronto. 
Some surrounding cities that might be worth checking out are:
- Milton (although prices are climbing here)
- Guelph
- Kitchener/Waterloo/Cambridge
- Baden
- Stratford
- Woodstock 
Some of those are a bit further from Toronto, but if you’re working from home some days, it might be worth considering. 
Good luck!

Answer

Toronto and it's metro area are very expensive.   I worked for a Canadian based company for 5 years and my colleagues based in Toronto all lived at least an hour away by train because of the COL.  How far your 100k will go will depend on many different factors.

Answer

Your 100K would depend on the price of the house to determine a mortgage.

Any Canadians here? Real estate question

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