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Regina's affordable housing market is piquing the interests of buyers from across Canada

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With a minimum down payment and closing costs of $17,850, Regina is on top in terms of affordable cities in Canada to purchase a single family home.

Although the Queen City has been crowned Canada’s most affordable city, it can make the market even more competitive. Moon Green is currently in the market alongside her husband, for a family home.

“It’s been war out there. Because the market is so competitive out there, people are buying stuff that aren’t even in like the best condition. So you’re just kind of getting the leftovers,” Green said.

While Regina came out on top, an expert in the housing market explained that Saskatchewan as a whole is recognized for its affordability.

“If you have an adventurous spirit, if you are looking to uproot and look elsewhere, especially in areas that are very welcoming, communities that are very attractive because of their low cost of living, Saskatchewan is really that place,” Chris Guérette, the CEO of Saskatchewan Realtor’s Association, said.

Apparently, homeowners are noticing this trend as Saskatchewan reported 776 sales in January. That puts the numbers 24 per cent higher than this time last year.

With many taking notice of this desirable market, it doesn’t necessarily come as a surprise to Guérette, who explains that this competition may become a trend.

“We do know that we are an attractive place, we do know that immigration will continue to increase, and so we’ll have to make sure that our supply can keep up with that demand because when it can’t is when you’ll start to see those slips in houses,”Guérette explained.

As Green and her husband continue to look for a home, she explains that the process can be disheartening at times.

“It sounds like it’s an affordable market and everything but you have to, you know, overbid $20,000, $30,000 over asking price just to get into it

We love Regina because we have all of our friends here and everyone is great but it just seems impossible to get into the market,” Green said.

If you were wondering who takes the cake in terms of the most expensive city, that title goes to Vancouver with minimum down payment and closing costs being $255,647.

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