Toronto is one of the best places in the world to live. It’s often named as one of the hottest city;s in the country in a broad range of categories. There’s little reason why so many people flock to the city of 5.3 million people, whether they’ve come to relocate or simply enjoy the city and all that it offers. . Toronto is a diverse city with plenty of culture, harmony, and history combined with modern appeal, friendly neighbors, and an assortment of fun activities sure to appease every lifestyle. Whether you’re searching for a great place to call home or invest in the best properties to rent and/or sell, Toronto office so very much to love.
Life in Toronto
Owning property in Toronto comes at a steep cost. In September, 2018, the average cost to buy a single-family home in the city was $947,656. The nearly one-million dollar price tag differs from one neighborhood to the next and applies to the downtown area and other pristine, prime real estate locations.
Homes in other neighborhoods and areas of the city are priced considerably less. It is important to pre-qualify fo a home loan/mortgage to learn the amount of money you qualify for before starting you search for the perfect place to call home. It is also important that you sort through the various neighborhoods to find one that matches you budget as well as your lifestyle needs.
Learn More About Toronto Neighborhoods
Toronto is filled with great neighborhoods with single-family detached homes, apartments, and condos available for purchase. Many of the people who reside in these areas have lived in the same place for many years but you can find many great new construction projects in the development stages.
Carefully evaluate each of the city’s diverse neighborhoods to find the right one for your needs. Consider factors such as the location to your work and to school, amenities offered in the neighborhood, and of course, the crime rates, too! Some of the best neighborhoods in Toronto include the areas below. Look more into each of these neighbors to find the best for your needs.
The Yonge-Dundas neighborhood is located south of the downtown area. An early 1990s renovation created a dramatic ambiance that’s stuck. The neighborhood is called ‘Toronto’s Times Square’ and something is always going on.
The Eaton Center Mall is one of the areas attractions, though you’ll find many restaurants, shopping centers, and other entertainment options available.
The homes are spacious and fun and while they’re sometime pricier, most people wouldn’t change their decision to buy their home in this great area for the world.
The CN Tower is located in the Harbourfront neighborhood,as well as Ripley’s Aquarium,the Fairmont Royal York hotel, and ne of the most dramatic skylines you’ll ever see. Although a popular neighborhood, homes in the areas are usually more affordable than properties located elsewhere in the city.
More Great Toronto Neighborhoods
The downtown Toronto area is thriving and when you reside in the area, you’re always front and center of a lavish, fulfilled lifestyle. Of course, you pay for the convenience and homes in the downtown area are most expensive.
The Entertainment District is filled with a plethora of clubs, bas, and theaters, as well as great restaurants for all tastes. The Kensington Market and Queen West areas of town are two additional neighborhoods that transplants and locals alike prefer.
Increase Your Down Payment Amount
The more money available to put down on the home purchase, the less fees you’ll pay to the Canada Housing and Mortgage. For every 5% you add to the down payment amount over 10%, you decrease the fees by about 2%.
This may not seem like a considerable amount of money, but it certainly adds up quickly! When you put more money down on the home, it may also reduce the monthly mortgage payment which can benefit any home buyer.
Life is good in Toronto and it is the perfect time to make the move and become a homeowner. It doesn’t matter what your style or the size home you are searching to buy, Toronto has many choices that will exceed expectations time and time again.
Use the tips above to minimize the stress and frustrations of finding the best Toronto home to call your own. With this advice in mind, it is easy to find the perfect property, i the perfect location, at a price that you can afford.