Given the current landscape of the Toronto real estate market,
it is not surprising that people are beginning to look further out
of the city for a property.
The market in 2016 and now 2017 has caused first-time homebuyers
and downsizers to be stuck with two options:
- Purchase a small condo to stay in
Toronto
- Look to the outskirts of the Greater
Toronto Area (GTA) for an affordable home
Even so, if you choose one of those options over the other, it
will still cost you. In March alone, detached homes in the 416 sat
at an average price of $1.56 million with condos at $550,000 and
the 905 at $1.1 million average for a detached home, and condos at
$440,000.
If option two is where you see yourself leaning, you may be in
luck. There are many condo developments popping up all over the
GTA, but in a
recent article by the Toronto Star, Vaughan may be the next
best place to settle outside of the concrete jungle.
