Canadian Politics Today

At current rates 500k would build you ~2500 sq.ft. in Victoria BC, which is a bit of a booming market. That doesn't include the land purchase of course.

I paid $500k for my house three years ago. And that includes the land of course.
It does not cost $500k to build a house. If you watch the US channels on homebuying you can regularly see nice homes of 2500 sq feet going for $200-$300k, including land.

Further, to indicate how the cost is in the land, take a look at the cost of houses in rural areas or smaller urban areas. They're far, far cheaper.  Wanna buy a house in Timmins?  https://www.royallepage.ca/en/on/timmins/properties/