About three years ago, my family and I decided to take advantage of Toronto’s real estate upswing. We opted to sell our townhome while prices were skyrocketing ending up with a very decent profit. In fact, our profit was so good that it allowed us to pay cash for a large, four-bedroom character home in Winnipeg. Yes, we had decided to relocate to another city, leaving our friends and family behind, setting out for a new life for our family. And the best part? We were mortgage-free!

Coming to the house itself, the property seemed almost double in size with a sprawling house in the center! If one could speculate how much such a house would have fetched in the Toronto real estate market, probably $300,000. And if it was renovated and placed in a popular location, the sale would have been close to $500,000. We had to shell out just $65,000 for this house as it needed some repairs. But with the estate prices going up by 20% year after year, should we decide to sell it, our profits are going to multiply manifold! Yes, a few repairs had to be carried out; some are still pending. Our plans include installing a brand new hardwood flooring for the entire living area. Whatever it may be, these are just minor problems, considering the size of the house and how less we paid for it!

Recently I was browsing Toronto real estate listings, just to keep an eye on how the market is doing. I was shocked to realize that there are virtually no actual houses available for sale, regardless of condition, anywhere in the Toronto real estate market, for less than $250,000! I couldn’t believe it. Anyone looking to buy in a lower price range is left to choose from townhomes and condominiums. There are no longer any affordable houses in the City of Toronto, regardless of neighborhood, condition or amenities.

All the more reason for joy, when I learnt about this! The relocation has come at the right time! Winnipeg does not have a gridlock through which to battle for office goers. Since situations are better, people do not succumb to road rage. People can still afford to buy houses, as they are below $100,000. Even the neighborhoods offer a choice. Home owners can benefit from the many incentives offered by Manitoba Hydro. A person who buys a fixer-upper can install highly efficient furnaces plus new windows. The interest rates are reasonable on loans. There are also town homes and condominiums for sale. Additionally, compared to Toronto, the maintenance fees are but a fraction over here.

Winnipeg truly has something for everyone. Our housing prices blow Toronto real estate costs out of the water… and that’s just the beginning.

We have now made Winnipeg our home, probably for good. Yes, we miss our friends and family, but we still find ways to keep in touch and see each other on a regular basis. Our family is much happier with our slower pace, the kids love having so much space to run around, and we feel like we’ve made a smart decision for the long run.