Toronto: With Toronto’s volatile real estate market, purchasing a property in one of the city’s best suburbs can help you leverage your investment. It’s no secret that Toronto’s housing market is expensive. That is not to say that all Toronto suburbs have seen an increase in home prices.
The good news is that house prices in certain Toronto suburbs are lower. Additionally, they provide a plethora of family-friendly amenities to make life easier for homeowners. By investing now, you can take advantage of low home prices in some of Toronto’s most desirable new communities.
Seven of the best Toronto suburbs for family
The following are some of Toronto’s best suburbs with affordable pre-construction homes suitable for investment.
1. West Eglinton
Eglinton West is a fantastic neighbourhood known for its affordable housing options, including the infamous Eglinton Flats in Mount Dennis. Mount Dennis’ strategic location is overwhelming. It is bounded on the east by a rail line and on the west by the Humber River.
When the new Crosstown LRT opens in 2021, residents in this neighbourhood will have quick access to the city. Additionally, Mount Dennis features numerous breathtaking amenities, including shopping centres, restaurants, recreation centres, hospitals, soccer fields, and a library.
What distinguishes Mount Dennis are its fantastic attractions? By purchasing property in the neighbourhood, you will have access to the charming Topham Pond, Humber River, Black Creek Valley, Westlake Memorial Park, and Pearen Park.
Pickering is a small suburban town located in the Durham region that has experienced tremendous growth in the real estate sector. The number of modern condominium proposals has increased, and we anticipate the addition of numerous new properties in the future.
The small town of Pickering is located near major freeways that connect to nearby cities, including Toronto. This makes it an ideal location for families working in the city of Toronto. You can commute from Pickering to downtown Toronto in approximately 30 minutes.
Despite its proximity to Toronto, Pickering’s house prices are lower than those in other suburbs. According to Zolo Canada, the average property price in Pickering was CA$698,000 in May 2020, which makes residences in Pickering more affordable.
Markham is a city located north of Toronto with a population of over 350,000 people. Hundreds of corporate offices, high-tech companies, and science-related businesses are located in this suburb. It has developed a reputation for excellence in technology and urban development, attracting a large number of investors.
Markham’s proximity to Toronto makes it an ideal location for home buyers. By using the Unionville GO train or driving along Highway 404, commuters can reach the city in roughly 40 minutes. Some residents of Markham work in Toronto.
If you’re looking for a rapidly growing suburb in which to begin an investment, look no further than Markham. The town’s real estate market is booming, as numerous investors construct thousands of luxury condominium units and corporate headquarters.
Oakville is one of the most affordable suburbs near Toronto, with a population of approximately 194,000 people. With the growing population, demand for housing has steadily increased, providing investors with an ideal opportunity to begin investing in real estate.
As of May 2020, Oakville’s average house price was CA$1 million. A two-bedroom detached house will cost approximately CA$994,000, while a three-bedroom detached house will cost approximately CA$1.1 million. Additionally, townhouses and condominiums in Oakville are affordable.
Oakville Town is home to numerous attractions, including picturesque harbours, a vibrant arts community, and vibrant shopping districts. Additionally, it has two GO stations that facilitate commuters’ access to their workplaces in both the town and the city.
Vaughan homes have become sought-after by many real estate investors as one of the best places to live in the GTA. Due to the city’s rapid population growth, both demand and supply of residential units have increased.
Vaughan’s urbanisation rate is flawless. Its new subway station provides a direct route into the city for commuters. Additionally, it is surrounded by luxury office buildings that draw investors from throughout the Greater Toronto Area.
With the numerous developments in Vaughan, this Toronto suburb is likely to become a cosmopolitan centre in the near future, resulting in an increase in property values. Thus, the time is now to invest in Vaughan. If you wait, you will spend more on investments.
Etobicoke, as one of the best Toronto suburbs for families, has become a destination for the majority of families in the Greater Toronto Area. This small town offers a diverse array of amenities, including restaurants, shopping centres, top-rated schools, and numerous modes of transportation.
Fortunately, Etobicoke is easily accessible from other parts of the area, including Toronto City. The town is served by major highways, subways, GO Transit stations, and bus transportation. Etobicoke real estate is affordable.
Etobicoke’s real estate market has exploded in recent years, creating an ideal environment for property investors. However, before you invest in the town’s real estate market, you should be aware of new and exciting developments, such as those along the shores of Lake Ontario.
Brampton, located northwest of Toronto, is one of the GTA’s fastest-growing suburbs. We’ve seen the growth of educational institutions, innovation hubs, and transportation infrastructure. Nonetheless, we anticipate additional developments in the future.
As new developments sprout up in Brampton, more real estate investors are turning their attention to this small city. Uptowns and Northside Condos are two of the most recent developments in Brampton. You can invest in such property now and benefit from the current low prices.
Brampton’s house prices are lower than those in neighbouring Toronto. Brampton’s average home price is CA$790,000, while Toronto’s average home price is CA$916,000, according to Zolo. In Brampton, purchasing a home is easier than in Toronto.
Many Torontonians are increasingly relocating to the better suburbs of Toronto, which have comparatively modest housing costs, while house prices in the city continue to grow. This opens up a plethora of investment opportunities for anyone looking to invest in the Toronto suburbs’ real estate markets. However, before investing in the markets, you should do your homework.
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