Toronto is Canada’s largest and most vibrant city, there are plenty of things to see and do in Toronto. If you are looking to move to Toronto and set down roots then finding a place to call home is your first step. If you are already living in Toronto then you know the housing market here can be a little different than the rest of Canada or even the rest of Ontario. You have a pretty big selection of condos on the market and many of the single family homes go back to the Victorian era.
There is a huge range of prices in the Toronto market with condos being on the lower end and standalone home taking the higher end and townhouses coming somewhere in between. Single family homes in Toronto are few and far between and you can expect to pay well over $1,000, 000 for one depending on the area. Even the less expensive parts of the city are out of range for the average family.
Condos are the easiest path to home-ownership in Toronto, the prices are significantly lower than a single family home and when it comes to Toronto there are far more condos for sale. Condos can range a great deal in size from the smaller 500 square foot one bedroom bachelor pad to the much larger two and three bedroom units. There are condo buildings all over the city so you can choose between downtown living or further out into the suburbs. High rise buildings down on Queen’s Quay aren’t going to come cheap.
Townhomes offer the happy medium between condo living and a single family home. They are more affordable and often the first choice for first time home buyers. If you head out to the suburbs you will see tons of areas being developed and many of them are building townhomes. Townhomes are all over the GTA so you have your choice of neighborhoods to choose from. If you want to go further out along the GO line there are a plethora of choices and price points. Townhouses offer enough space for families but are still well within the affordable range.
The real estate market in Toronto has definitely gone through its ups and downs in the last couple of years. While prices hit an all-time high back in 2017 the market has since stabilized. Work with a realtor who understands Toronto real estate to help you make the most out of your budget. Neighborhoods in Toronto can be vastly different and you have lots to choose from in this vibrant city.