These Are The Best Neighbourhoods To Buy Condos In Toronto
Becoming a home-owner is definitely among the top 3 priorities of most adults but when it comes to the point of actual home ownership, most people struggle to find the right one. While for some, lack of market information is a deterrent, for others, too much information and choice can cause a lot of confusion. And when it comes to buying a condo in a city like Toronto, getting definitive advice is crucial before getting in the condo market.
Furthermore, most potential buyers defer the property purchase decision due to the convenient availability of rentable properties. However, with skyrocketing rent prices and less than 3% vacancy in Toronto for rentable properties, becoming a house owner is quickly becoming a necessity.
Here are the top 5 neighbourhoods of Toronto with great Condos on the market –
1) Willowridge, Martingrove, Richview: This sophisticated and elegant neighbourhood may command an average condo price of approximately $396,000, it is still among the best places to buy condos in Toronto. With over $600 per month saved by buying rather than renting a condo in Willowridge, it is certainly a good investment location for potential home owners.
2) Black Creek, York University Heights: If you are looking to buy condos in Toronto, then Black Creek is the best place to start with. The neighbourhood commands an average condo price of $350,081, which when compared to condo rents, results in substantial savings per month for buyers.
3) Rexdale-Kipling, West Humber-Claireville: With an average condo price of $337,100, Rexdale is a posh neighbourhood that attracts many potential home buyers. Not only is it cheaper to own a home than rent a condo in Rexdale, it is also a great place to live due to modern amenities and commercial development in the neighbourhood.
4) Malvern, Rouge: A serene and upscale neighbourhood, Malvern is another ideal place to buy condos in Toronto. Average condo price in Malvern is approximately $331,200; making it an economically sensible investment option for home buyers.
5) West Hill, Centennial Scarborough: Clearly one of the most affordable options when it comes to buying condos in Toronto neighbourhoods, West Hill offers classy condos at an average price of $282,100.
All these neighbourhoods command an average monthly rent for condos in the range of $1500 to $2200. Not only are these neighbourhoods best suited for homeownership due to economic reasons, the abundance of facilities and amenities in these also makes them well suited for a modern lifestyle. Other great neighbourhoods for buying condos in Toronto include Dorset Park, Scarborough Village, Leaside, Morning side and Yorkdale.
At Toronto Condo Only, we are passionate about new land developments and since 2007, we have helped clients get the best deals and the properties. Clients trust our industry knowledge of the real estate investment market throughout Greater Toronto, which is the foundation of our success to buy low and sell high. With our broad vision and innate ability to understand real estate properties, including pre-construction low-rise and high-rise condos, resale homes and commercial properties, we have achieved continued success for our clients and ourselves. Click here to review projects currently available in and around Toronto. There are a few great new developments coming up in Downtown Toronto such as Empire Maverick Condos in financial district and Sugar Wharf Condos on Lakeshore Blvd. Remember, the best time to invent in real estate was Yesterday. Don’t wait for tomorrow. Call us Today!