The Toronto real estate market seems to be proving time and time again that all the negative debbie downers’ market predictions are incorrect, with prices on the rise and interest rates still remaining at an all time low the market is looking pretty positive for the next while.
April was a very hot month for not only Toronto but all of GTA! Single detached home sales were up 22% compared to April 2011, condo sales were up 4.4% and overall sales were up 18% compared to April 2011 with 10,350 transactions reported.
The average price for April 2012 in the GTA is now $517,556 which is up 18.5% compared to last year at the same time and the Toronto average price for April 2012 is currently sitting at $568,436.
Take advantage of these great interest rates and buy now! After all, wouldn’t you much rather pay more for the house at a lesser interest rate so it goes back in your pocket instead of the bank’s? Makes much more sense to me!
Many Buyers ask themselves the ever confusing question, what’s better for me? A house or a condo?
Many people believe that condo fees are a waste of money and a house’s expenses are much more affordable but really, a maintenance fee is only your percentage share of what it costs to maintain the entire building and is completely based on the size of your unit (a 1 bedroom will be less than a 2 bedroom).
So at the end of the day, it actually works out to be the same but condos tend to offer more convenience, so it really is all completely based on your lifestyle. 🙂
Here’s a great article that explains in depth and also simplifies where your condo fees actually go, CLICK HERE
Most people have the wonderful and rewarding life long dream of home ownership, especially living in a great city like Toronto, who wouldn’t want to own here!? 😉
However, given the rising cost of homes in Toronto, many people are starting to feel that this dream might take much longer to achieve, but don’t fear! There is a slew of underrated and great neighbourhoods that Toronto has to offer that can help you achieve your dream sooner!
1. If you’re priced out of The Beach, check out New Toronto
2. If you’re priced out of Leaside, check out Todmorden Village
3. If you’re priced out of The Kingsway, check out West Hill
4. If you’re priced out of Moore Park, check out Cliffside
5. If you’re priced out of The Junction, check out Weston Village
Interested in any of these neighbourhoods? Click HERE for the article and a description of each. 🙂
Come visit us at our open house this weekend at 316 St. Clair Ave E!
An elegant Moore Park home on A South facing treed lot. Light filled 4+1 bedrooms, 3 bath, detached; Close proximity to Whitney, OLPH and Deer Park schools, playgrounds, tennis courts and Yonge Street subway. Classic architectural elements and a large family room addition, big eat-in kitchen, pantry, powder room, in-law/nanny suite in basement with separate entrance and walk-out to a brick patio and lovely garden.