Those buying homes in Chatham-Kent are getting more living space for their dollar compared to the majority of other major cities in Ontario, according to a recent study.
The study released this month by Point2, an international real estate search portal, examined 30 cities in Ontario to determine the average square footage homebuyers would receive for $400,000, roughly half the province’s average home price.
According to the findings, Chatham-Kent is one of the only major cities in the province that offers more than 1,000 square feet of living space for a $400,000 budget.
Chatham-Kent also boasts a price per square foot of $370, which is more than double the living space compared to Toronto, where prices exceed $1,000 per square foot.
In nearby Windsor, homebuyers are paying an average of $469 per square foot, while in London, those buying a home are paying $425 per square foot.
The study examined the 30 biggest cities in Ontario in terms of population, with data compiled using realtors’ associations, brokerages, and listing portals. The space one could buy for roughly half the average home price was then calculated by dividing $400,000 by the price per square foot in each city.
