Just so that you don't think I am some kind of horse snob, let me explain what similar money will buy you here in Texas. I understand that it may be different in Ontario but at least you will know where I am coming from as I know you are new to this forum. $0-$1000
will get you a TB off the track of reasonable conformation, sound, between the age of 4 and 7, with papers and usually UTD on shots, coggins etc etc etc. Whether it is on the lower end of that scale or the higher end will depend on temperament, health status and if you are in the right place at the right time or not. $1000-$2000
will get you at TB that has probably finished racing and started some type of schooling between 5 and 8 years old, in good condition, of reasonable temperament, conformation and looks and with aptitude for one or several disciplines. UTD with shots coggins etc. $2000-$5000
will get you a TB with more schooling that has probably been out to a few shows successfully whether they were HJ shows, dressage shows or lower levels in eventing. Ages range from 5 years to 12 years depending on experience level. Of course conformation and looks play a role in the price also.
One last word on TB's and conformation: It is rare to find a truly correct TB as unfortunately they are not bred to encourage correct conformation. They are bred for speed and any conformational flaws that breeding stock may have are not always compensated by selecting the appropriate mate to counteract such flaws. Doesn't mean that they are no good, just means that there are certainly a wide range of conformational flaws seen in this breed. If you are going to look at TB's, in particular look at the pastern angles, length of back, strength of HQ, angle of shoulder and how the neck ties into the chest. If the horse has one or two minor flaws, you can still work with it depending on your intentions and which flaws they are. If you are seeing more than two flaws, I would pass. This horse here has at least four things that bother me, hence my harsh response.
One final word: My horse at the moment is an OTTB, she has a couple of conformational flaws that I am happy to work with and I paid at the lower end of the 0$-$1000 scale for her in poor condition as a 7yo and no schooling. Just so you know that I am not at all against TB's or project horses. I promise if you post a picture of a horse that looks to be worth the price it is advertised for I will not be as harsh