The housing market in Cobourg is hot and never more affordable. The average cost of a three bedroom, multi-level, well-kept home is approximately $235,000; home rentals average $1000; apartment rentals average around $800 a month, slightly more for a condominium. Compared to other towns in the area, because of its water-side location, Cobourg homes tend to be slightly higher in value than surrounding areas. An average, well-kept home with three bedrooms with a yard will sell in the vicinity of $235,000. As an example, a harbor side luxury condominiums can sell in the upper $700,000 or greater range. Still, there are plenty of reasonably priced homes rentals available. Average taxes on a purchased home run approximately $3,000 a year.

 

 

The town of Cobourg also offers newcomers a great opportunity to rent a home, apartment or condo. Most real estate agents or private renters will offer a fixed or periodic term rental agreement. A fixed term lease usually runs for a year, while a periodic term runs month by month. In order to get a feel for the area and the many exciting events Cobourg has to offer, many who are new to Cobourg decide to rent and explore before making a decision to buy. Others find renting a more affordable way to live.

 

 

The selection and prices of rentals available varies depending of location. Typically, prices averages around $500 for a studio up to $1200 for a three bedroom home. The same rule applies to renting as it does with purchasing a home, apartment or condo when looking on the waterfront: Rentals tend to be more exclusive and therefore more costly. Seasonal rentals are also available in all price ranges depending on the weeks desired and the type of space needed.