While some may cringe at the initial outlay for the cost of winter tires and steel rims (dependent on your situation).
Yes, it will cost several hundred dollars and for higher-end winter tire/rims, expect to spend over a thousand dollars.
Having said that, there is a silver lining to the whole process of having two sets of tires for the varied Canadian driving seasons:
The adjacent video provides a clear demonstration as to the overall difference between winter tires and all season on a hockey rink!
If you haven't bought or put your winter tires on yet, it's highly advisable if you plan on doing so to make an appointment ASAP, as the first snowfall tends to create a spike in demand at popular tire outlets to accommodate.