Picton, Wellington and Consecon are Prince Edward's most popular neighbourhoods. We isolate these neighbourhoods by looking at various factors that convey an area's desirability. Indicators include the average time a property spends on market, the average sale price, plus the percentage of homes that have sold over asking.

It's hardly surprising that Milford, Wellington and Bellville are Prince Edward's most expensive neighbourhoods. Neighbourhoods are ranked by assessing the average sold price during the past 12 months, and compared to all of the other neighbourhoods in the city. Not everyone can afford a home in Prince Edward's priciest neighbourhoods. But Cherry Valley, Demorestville and Picton offer incredible value at a much lower cost.

Every city has neighbourhoods where property values tend to be cheaper - and in Prince Edward they are Ameliasburgh, Consecon and Belleville. Strata.ca assesses historical data to determine the average sale price for every neighbourhood. In comparison, the average house in Prince Edward is selling for about $758,594.

Homeownership in Prince Edward comes with a number of expenses, one of them being property taxes. This tax is used to pay for several essential services, including garbage and recycling collection. Property tax rates usually fall between 0.5 and 2.5%, and are set out by the local municipality. Some Prince Edward homebuyers believe this tax is based on the size of the house. But rather, the tax rate is multiplied by the home's current market value - which can fluctuate each year based on surrounding homes. Let's say your property's market value is $700,000 and the municipal property tax rate is 0.5%. This means you'd owe $3,500 in property taxes that year.

The go-to website for your Prince Edward real estate search is Strata.ca, which showcases every property available, so you'll never miss an opportunity. In addition to listing details, imagine having the ability to search historical data for every property in Prince Edward. Armed with this knowledge, users are able to compete effectively against other buyers and sellers.

Prince Edward has a decent walk score of 53, meaning some errands can be done on foot, but many will likely require a car. Meanwhile, the transit score is 0, making it more challenging to get around the city using public transportation. And the bike score comes in at 43.

When purchasing a house in Prince Edward, you must budget for a series of charges known as 'closing costs'. These costs are necessary in order to finalize your purchase, so be sure to factor them in before making an offer. At Strata, we advise our buyer clients to get a good estimate of closing costs early on. These costs can range anywhere from 1.5% - 2% of the overall purchase price. So consider a purchase price of $500,000 - 2% on that is $10,000 which should be accounted for upfront. The land transfer tax will make up most of your closing costs. In Canada, all buyers are subject to the LTT imposed by the province. First-time homebuyers could be eligible for a government rebate - your real estate lawyer can help you apply for this rebate at the time of closing. And finally, when buying a home in Prince Edward, you'll need a real estate lawyer to close the deal. Be sure to put aside $2,000 to cover the cost of your real estate lawyer, although legal fees can vary.