Scottish castle can be had for less than an average condo in Toronto

The 500-year-old Lordscairnie Castle is for sale, but it's not exactly move-in ready

The price of housing may be dropping slightly across Canada, but it probably won't drop enough for anyone to own their own castle.

However, for only $350,000 you can now purchase your very own castle in Scotland. And if you're lucky, people will have to refer to you as king or queen. To put things in perspective, the average price of a downtown Toronto condo earlier this year was about $360,000, according to statistics from the Toronto Real Estate Board.

But when things sound too good to be true they usually are — and that seems to be the case here. If you are thinking of living in it, it may be a bit drafty.

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Real Estate agents are looking for a buyer for Lordscairnie Castle in Moonzie, Fife, Scotland. It was build around 1495 by Alexander Lindsay, 7th Earl of Crawford, who at the time was the most powerful nobleman in Scotland. It stands five storeys, although the elements have decreased the height. The walls are about six feet thick so there is little chance of this castle being blown over.

According to the Daily Mail, the unoccupied B-listed castle, which really looks more like war ruins, is on 30 acres of land and surrounded by rolling hills. It's being marketed as a rural retreat that is close to golf courses. The property also comes with a pool — but the pool only attracts some 50 different species of birds.

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"We've had plenty of interest so far, particularly from people in London who would like to live in the area and commute to Dundee Airport," agent Patrick Paton told the Daily Mail. "We're looking for an emotional purchaser — someone who wants this type of property and wants to turn it into a very special place to live and wants to take on the challenges of planning."

The castle has changed hands a number of times over the past 500 years. It was abandoned in the mid 17th century and has been owned by a series of local farmers over the past 150 years. It is hoped the new owner will renovate and turn it into a home.

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"This is a rare opportunity to acquire a piece of Scottish history and to form a unique home in an unrivalled setting," said Paton, who estimates it would cost about $1 to $1.5 million dollars to purchase the property and renovate. "Compared to the cost of property in London, where people are paying millions for a three or four bedroomed house, it's good value."

Feel free to take a virtual tour of the property before you buy.

(Wikipedia Commons image)

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