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OT - Toronto Real Estate

WellPlayed

Well-known member
So I've been living downtown with the girlfriend for close to a year now. Love being downtown and being able to walk to work, but hate condo living. I grew up in the middle of nowhere surrounded by fields and forest, so 700 sq ft of living space and dealing with property management are starting to crush my will to live.

We both make pretty good coin and I'm thinking it might be get a house and stop watching my money disappear to rent each month. Having only lived right downtown, I don't know the surrounding neighbourhoods that well. Don't want to go too far out and will definitely be looking for areas that are up-and-coming with some fixer uppers available (I can swing a hammer).

Any suggestions for areas to keep an eye on? What's everybody's housing strategy?
 
If you want a house not too far from downtown, you're going to be paying through the nose for it. Be very careful, and also be wary of what could happen if you happen to split up. Renting might suck, but watching 20-50k leave in realtor fees because you have to sell the place a couple years down the road sucks more.
 
Seams like parkdale (between king and queen st) is in transition right now and not very far from downtown.

No idea what kind of coin those would be but i expect close to 7 figures for a house in that area, less for an attached or semi detached.
 
My housing strategy in the GTA is don't bother. Completely out of my reach and frankly not worth it at this point with the insane prices. If you need or desire to stay in the core, you're looking at 1M+. If you can work from home, then there are some nice options.
 
gaytown was a good spot to look a few years ago but prices may have caught up by now but maybe not. Parkdale is a good idea now - but it's still pretty sketchy atm.
 
gaytown was a good spot to look a few years ago but prices may have caught up by now but maybe not. Parkdale is a good idea now - but it's still pretty sketchy atm.

You're even looking at about a mil for riverdale or by Danforth and coxwell, woodbine etc
 
actually if you're willing to cross the viaduct and go towards danforth east, that's probably your best bet to find affordability in a livable area that's still got a hint of being "in the city".
 
Trend seams to be rent til you get married/want kids and then move to the suburbs (still not cheap).
 
Decent bang for your buck up in the Fairview mall area, especially east of 404. Just the subway ride downtown gets long some days. ~$750-$800K for semi's, 1.1-1.4M for detached. And sadly yes, that's "reasonable" for subway line GTA.

Otherwise, you're looking at row houses, town houses, or well outside of the GTA. Though there are many living in Newmarket and GO Training downtown.
 
Housing in the GTA has gone bonkers. 500k barely gets you a townhouse in the suburbs now.

Insanity.

I bought a condo a few years ago(Maple Leaf Square) lived there for a bit when i worked DT. Got work in Mississauga so i moved back in with the fam while renting out the condo. No plans to get married at the moment so just banking money until i can buy another condo or i buy a house to start a family. The prices in the GTA are disgusting and making me less enthusiastic about buying.

Ideal world i'd sell out eventually and move to Costa Rica.
Excellent thread idea. Maybe some here have good ideas.
 
Oshawa, Ajax, and Hamilton are good spots to buy. Real estate is really going to skyrocket there soon.

Stoney Creek is a place i was looking at recently. Pretty far from DT but GO goes to Aldershot.

No chance i spend 600k on a townhouse in Mississauga. AND i really like Mississauga(grew up there). Unfortunately can't afford a million dollar detached.
 
I own a house in Barrie and you can still get a nice house in Barrie in the 400's.

Downside: you have to live in Barrie.
 
Out of curiosity, what's the mean income in the GTA nowadays? Also, what's minimum wage in Canada?
 
Hamilton/Stoney creek getting much better, GO stations going in and service all the way to Grimsby is coming at some point in the not too distant future.

You can still get a town house in Burlington for 400-600 I believe but anything detached (especially south of the QEW) is more to much, much more.
 
Stay away from Mississauga. Been looking in that area but I can't seem to find much in my price bracket. Most of what I'm looking at is around $600,000 and that's a bit out of our current financial reach. My parents house is worth about $900,000, and they brought the house almost 20 years ago.

The housing market in Mississauga is crazy
 
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