Labrosse Real Estate Knows

Houses for Sale in Ottawa Under $500,000

Browse current houses, townhomes, condos and other Ottawa properties priced at $500,000 or less. Filter listings by property type, location and bedrooms, then get clear guidance on financing, costs and your next steps.

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For sale OPEN HOUSE

239 CARPE STREET, Casselman, Ontario

239 Carpe Street

Casselman, Ontario

$472,832

3 Bedroom 2 Bathroom 1,100 - 1,500 sqft

Exp Realty

For sale

738 HAROLD MATHIE STREET, Mississippi Mills, Ontario

738 Harold Mathie Street

Mississippi Mills, Ontario

$434,500

3 Bedroom 2 Bathroom 1,500 - 2,000 sqft

Coldwell Banker First Ottawa Realty

For sale

904 - 530 LAURIER AVENUE W, Ottawa, Ontario

904 - 530 Laurier Avenue W

Ottawa, Ontario

$349,900

2 Bedroom 1 Bathroom 800 - 899 sqft

Martels Real Estate Inc.

For sale OPEN HOUSE

114 TIMBERLINE DRIVE, North Stormont, Ontario

114 Timberline Drive

North Stormont, Ontario

$399,900

2 Bedroom 2 Bathroom 1,100 - 1,500 sqft

Exp Realty

For sale OPEN HOUSE

120 TIMBERLINE DRIVE, North Stormont, Ontario

120 Timberline Drive

North Stormont, Ontario

$409,900

2 Bedroom 2 Bathroom 1,100 - 1,500 sqft

Exp Realty

For sale OPEN HOUSE

112 TIMBERLINE DRIVE, North Stormont, Ontario

112 Timberline Drive

North Stormont, Ontario

$409,900

2 Bedroom 2 Bathroom 1,100 - 1,500 sqft

Exp Realty

For sale OPEN HOUSE

118 TIMBERLINE DRIVE, North Stormont, Ontario

118 Timberline Drive

North Stormont, Ontario

$399,900

2 Bedroom 2 Bathroom 1,100 - 1,500 sqft

Exp Realty

For sale OPEN HOUSE

116 TIMBERLINE DRIVE, North Stormont, Ontario

116 Timberline Drive

North Stormont, Ontario

$399,900

2 Bedroom 2 Bathroom 1,100 - 1,500 sqft

Exp Realty

For sale OPEN HOUSE

995 KATIA STREET, The Nation, Ontario

995 Katia Street

The Nation, Ontario

$499,900

2 Bedroom 2 Bathroom 1,100 - 1,500 sqft

Exp Realty

For sale OPEN HOUSE

LOT 10A 1 FINCH STREET, North Stormont, Ontario

Lot 10a 1 Finch Street

North Stormont, Ontario

$441,500

2 Bedroom 2 Bathroom 1,100 - 1,500 sqft

Exp Realty

For sale OPEN HOUSE

144 ELIZABETH STREET, North Dundas, Ontario

144 Elizabeth Street

North Dundas, Ontario

$499,900

3 Bedroom 3 Bathroom 1,500 - 2,000 sqft

Exp Realty

For sale OPEN HOUSE

142 ELIZABETH STREET, North Dundas, Ontario

142 Elizabeth Street

North Dundas, Ontario

$499,900

3 Bedroom 3 Bathroom 1,500 - 2,000 sqft

Exp Realty

Not Seeing the Right Property?

Homes under $500K can appear and sell quickly.

Tell us your preferred property type, neighbourhoods and number of bedrooms. We will build a personalized search and notify you when a matching listing becomes available.

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Transactions

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Total Families Helped

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Total Homes Sold

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Realistic Options

What Can You Buy in Ottawa for Under $500,000?

At the $500K price point, buyers may have considerably more choice than at lower price ranges. The exact options depend on location, condition, property type and current inventory.

Freehold & Condo Townhomes

A popular option for buyers who want more living space while keeping the purchase price below many detached-home options.

Semi-Detached Homes

Some Ottawa communities may offer semi-detached homes within this budget, particularly depending on age, condition and location.

Detached Homes

Older, smaller or more location-dependent detached properties can occasionally fall below $500K. Comparing condition and recent sales becomes especially important.

Condos & Newer Properties

Condos can provide more choice within the budget, while select newer or new-construction options may also become available.

NEW CONSTRUCTION OPTIONS

New Homes in Ottawa Under $500,000

New homes under $500,000 can occasionally be found in and around Ottawa, but availability can vary significantly by community, builder, home type and release.

New construction also comes with different considerations than a typical resale purchase, including deposit schedules, completion timelines, upgrades and closing costs.

The MLS® listings on this page may include newly built properties when they are publicly listed, but not every builder property will necessarily appear in the MLS® feed.

Affordability Calculator

Purchase Price This calculator is configured for Ottawa homes up to $500,000. Down Payment Minimum for this purchase price: $25,000 Interest Rate (%) Enter the mortgage rate quoted by your lender. Amortization 30-year insured mortgages have additional eligibility requirements. Annual Household Income Optional. Used to estimate GDS and TDS affordability ratios. Monthly Debt Payments Car loans, credit cards, lines of credit and other monthly debt. Property Taxes / yr Condo Fees / mo Heating / mo Home Insurance / mo

Estimated Mortgage Payment — / mo

Mortgage Insurance Premium —

Estimated Total Housing Cost — / mo

Estimated Cash Needed —

AFFORDABILITY CHECK

Mortgage Qualification Estimate

Add income

Qualifying Rate 7.50%

Qualifying Mortgage Payment —

GDS Ratio — Typical guideline: 39% or less

TDS Ratio — Typical guideline: 44% or less

Enter your annual household income to estimate affordability.

Estimates are for general planning purposes only and are not a mortgage approval or financial advice. Mortgage payments use Canadian semi-annual compounding. Mortgage insurance is estimated when the down payment is below 20%. Estimated cash needed includes the down payment, a 1.5% closing-cost planning allowance and Ontario retail sales tax on the mortgage insurance premium when applicable. Actual lender requirements, mortgage insurance, land transfer tax, rebates, legal fees, adjustments, interest calculations and closing costs may differ.

Plan the Full Cost

What Would a $500,000 Home Really Cost You?

The purchase price is only one part of your monthly budget.

Estimate your mortgage, property taxes, condo fees, heating, insurance and other housing costs before deciding what you can comfortably afford.

Example at $500,000

Purchase price: $500,000
Down payment: Based on your financing
Mortgage insurance: If applicable
Closing costs: Calculated separately

First-Time Buyer Checklist

Buying Your First Ottawa Home Under $500K

A $500,000 budget can open up more property types, but comparing purchase price alone can still be misleading.

Before submitting an offer, understand the property’s condition, monthly carrying costs and how it compares with recent sales.

Check the Total Monthly Cost
Compare property taxes, utilities, condo fees where applicable, insurance and expected maintenance.
Confirm Financing Early
Get clear on your approved purchase range before competing for a property.
Review Condo Documents When Applicable
For condos and condominium townhomes, understand fees, finances, reserve funds and upcoming work.
Budget for Closing Costs
Plan for legal fees, inspections, adjustments, moving costs and immediate repairs.
Understand the Property's Condition
Older or lower-priced homes may require additional maintenance or improvements.
Compare Recent Sales
The lowest asking price is not automatically the best value. Compare similar properties and their actual selling prices.

Buyer Resources

Programs That May Help You Buy Your First Home

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Not Sure Which Programs Apply to You?

We can help you organize the questions to ask your lender, accountant and real estate lawyer before you start making offers.

A Clearer Buying Process

From Budget to Keys

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More Choice Can Create Better Negotiating Opportunities

Ottawa buyers are currently being more selective, and some properties are taking longer to sell.

That can create opportunities to negotiate on price, conditions or closing dates, depending on the property and seller.

Well-priced homes can still move quickly. The goal is knowing when there is room to negotiate — and when waiting could mean losing the right property.

Local Buyer Guidance

Clear Advice for Buyers Shopping Under $500K

Buying with a firm price ceiling requires more than receiving listing emails.

You need to compare property types, identify hidden costs, understand recent sales and decide whether each property represents good value for your budget.

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Real Estate Agent in Ottawa

Our team of highly qualified professionals will guide you through every step of buying or selling your property

Houses for Sale in Ottawa Under $500K Contact Form

Have Questions?

Frequently Asked Questions

Straight answers about affordable properties, down payments, condo fees and buying your first Ottawa home.

Still Have Questions?

Our team is here to help. Reach out and we'll get back to you with the answers you need — no pressure, no obligation.

Are there houses for sale in Ottawa under $500,000?

Yes. Homes priced under $500,000 do come onto the Ottawa market, although the number and type of available properties can change quickly. Depending on the neighbourhood and current inventory, buyers may find townhomes, condos, semi-detached properties and occasionally detached homes within this price range.

What types of homes can I find in Ottawa under $500K?

A budget under $500,000 can include condos, condo townhomes, freehold townhomes, semi-detached homes and, in some areas, detached properties. The options depend heavily on location, age, condition and current inventory. Labrosse can help compare different property types based on both purchase price and ongoing ownership costs.

Can I find a detached house in Ottawa under $500,000?

It is possible, but detached homes under $500,000 tend to be more limited than condos or townhomes. Buyers may need to be flexible on neighbourhood, size, age or condition. When one becomes available, reviewing comparable sales and the property’s overall condition is especially important before making an offer.

Are there new homes in Ottawa under $500,000?

There can be new construction options around the $500,000 price point, but availability varies by community, builder, home type and incentives. New builds should also be compared carefully with resale homes because deposits, upgrades, completion timelines and closing costs can be different. New construction is currently an important source of competition in parts of the Ottawa resale market.

Are most Ottawa homes under $500K condos or townhomes?

Condos and townhomes make up an important part of the more affordable Ottawa market, but they are not the only options. The current mix changes with inventory, and buyers may also find semi-detached and detached properties under $500,000. The best approach is to search across several property types rather than limiting the search too early.

What costs should I budget for besides the purchase price?

The purchase price is only part of the cost of buying a home. Buyers should also plan for expenses such as legal fees, inspections, property taxes, home insurance, utilities, moving costs and possible repairs or upgrades. Condo buyers should also consider monthly condo fees. Financing and closing costs vary by buyer and property, so it is important to confirm the full budget before submitting an offer.

Can I receive alerts only for Ottawa homes under $500K?

Yes. Labrosse Real Estate can create a personalized MLS® search based on your maximum budget, preferred neighbourhoods, property type, bedrooms and other criteria. Automated searches can provide new-listing updates when properties matching your requirements become available.

Should I choose a new build or resale home under $500K?

Neither option is automatically better. A new build may offer newer finishes, warranties or builder incentives, while a resale property may provide a more established neighbourhood, a clearer view of the home’s condition and more room to negotiate. The right choice depends on your timeline, budget, location preferences and the total cost of each property.

Is it a good time to buy a home in Ottawa?

It depends on your finances, timeline and the type of property you are looking for. Ottawa is currently a quieter and more selective market, and buyers have more negotiating power than during hotter market periods. At the same time, well-priced properties can still attract strong interest, so waiting solely for prices to fall further does not guarantee a better opportunity.

Can Labrosse help me compare properties before making an offer?

Yes. Labrosse can help buyers review comparable sales, property condition, neighbourhood factors, ongoing costs and potential risks before deciding what a home is worth to them. The team also assists with offer strategy, negotiations, inspections, financing coordination and the closing process.

Your Budget Deserves a Real Buying Strategy

The best property is not always the one with the lowest asking price.

Tell us your budget, preferred areas and must-haves. We can help you compare the real costs, identify stronger opportunities and avoid properties that do not fit your long-term plan.