What Does $1 Million Buy?

At Exponential, we’re all about helping our clients make informed real estate decisions. One of the ways we do that is by showing buyers what the same budget can get them in different neighbourhoods.

Comparing homes across different areas helps put things into perspective—not just in terms of price and square footage, but also lifestyle, convenience and everyday practicality.

This month, we’re looking at what approximately $1 million can buy across the Lower Mainland.

Four recently sold townhouses, four different living experiences.

Property Comparison

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A Few Observations

Vancouver East | $1,015,000 — Compact and Centrally Located

Located near the PNE, this newly built townhouse reflects the growing number of small-scale multiplex and townhouse developments following zoning changes. At 1,200 sq. ft., it’s a practical size for a small family.

Vancouver East is conveniently positioned within Metro Vancouver, although traffic congestion and limited parking can be drawbacks. GST is also additional.

Burnaby | $988,000 — An Established, Family-Oriented Community

Built in 1999, this townhouse offers a little more living space and is approximately a 10-minute walk from Edmonds SkyTrain Station.

The surrounding neighbourhood has a mix of medium- and larger-scale townhouse and condo developments, creating an established, family-oriented environment. A convenient option for families who value transit access and neighbourhood amenities.

Richmond | $990,000 — Central Location and Functional Space

Built in 2002, this three-storey townhouse offers 1,540 sq. ft., three bedrooms and a den that could serve as a home office or guest room.

It’s close to Richmond Centre, transit, schools and everyday amenities. The layout offers a good balance of living space and central convenience.

Langley | $980,000 — Space and Practicality

Brand-new construction with over 2,000 sq. ft., including a generous recreation room and additional flex space.

For a family needing room to grow, the extra square footage offers considerable flexibility. The trade-off is being farther from Vancouver’s urban centre, and buyers also need to factor in the additional 5% GST.

Same Budget. Different Lifestyles.

All four are townhouses, yet they offer very different living experiences. Some prioritize space, others location, newer construction or an established family neighbourhood.

One detail I always pay attention to is parking. Newer, smaller-scale developments sometimes offer just one parking space or tandem parking, while some older townhouses have two side-by-side spaces. In Burnaby, shared underground parkades are also common, which can mean walking from the parking area back to your unit rather than having direct garage access.

Personally, I appreciate side-by-side parking. When two people drive regularly, not having to move one car to get the other out makes everyday life easier. Another benefit that’s often overlooked is how the garage configuration can affect the home’s layout. A double side-by-side garage often means a wider townhouse, which can translate into a wider living room and more generously proportioned bedrooms.

Of course, that extra width and convenience usually come at a price. Upgrading from a single or tandem garage to a double side-by-side garage can mean stretching your budget. It’s one of those practical trade-offs worth considering when deciding what matters most in your next home.

At the end of the day, there’s no single right choice. It’s about finding a home that fits your lifestyle and the little things that matter to you every day.

MLS® references: R3129285, R3155165, R3135551, R3161751.

All prices in CAD. GST may be additional on new construction; applicable rebates and tax treatment depend on the transaction.