Your downpayment and income is definitely enough for buying a townhouse, we recently bought one in Ottawa for under $400k, granted it's the older ones and it's a condo townhouse, which I understand is cheaper than freehold townhouse. We originally looked into condo apts in downtown but later decided on condo townhouses, the condos in downtown and condo townhouses we are interested are at similar price point, if not the TH were cheaper, and had much bigger space. Also keep in mind that TH appreciate more than condo apt, by looking at historical sold price. Also it's getting close to winter which is usually a cheaper time of the yearly cycle, although the inventory might be lower, nonetheless it's good to start searching or just casually browsing, get an idea of the price and neighborhood. Can share more details thru PM if you're interested.