The Toronto real estate market is a big one to enter and can be intimidating just by the sheer number of properties that are on the market on any given day. The good thing about this is that there are plenty of real estate agents to help you, but if you’re just getting started, here are a few tips on what to look for:
Looking for a condo has its own advantages. These boxes in the sky have impressive views and are usually located in communities with lots of amenities. The drawbacks of a condominium is that you have to realize that you are going to be pretty high up of the ground, so if you have any issue with heights, you might want to look for other options. You also have to keep in mind how many people are going to live in your new condo. A typical unit has one or two bedrooms, so realize that if you have more than four people in your family, space could become an issue really fast.
Overall, condos are great for convenience and your fees cover all sorts of maintenance. A good condominium complex can also have its own gym, pool, theatre, and party room. There are even ones that have yoga studios and restaurants on the first floor! Most condos also have their own security, which adds that extra measure of safety.
Not only do these have a great view, but they are among the most luxurious pieces of real estate out there. The biggest drawback is that these units are usually limited to a few floors of a high-rise, and as a result, there are fewer available, making these premium spaces. Also realize that they are among the most expensive homes that you can buy on the market.
The great things about a penthouse, though, are stunning views of the city, lots of square footage, and many have three, and even four bedrooms, for that bigger family. If you do have an issue with heights, there are now great options to get first floor penthouses, which have their own street entrance, but still retain the space. Being in a penthouse is like having a premium membership in a club, as you usually have special access to private facilities.
The Penthouse is a great option as it puts you right in the lap of luxury and makes you the envy of your peers, just keep in mind that they do come with a hefty price tag!
A good townhouse has all the conveniences of home, but has the advantage of downtown living. Townhouses guarantee greater square footage, multiple floors for privacy, and are usually placed in good neighbourhoods. The only thing you do need to look for in buying one is your future neighbours. Having a great neighbour is a blessing, but having a bad one can make you regret your purchase, so always meet them before you buy!
There are few people, however, that regret the purchase of their townhouse. These marvels are located in pleasant neighbourhoods, that usually have trees and grass, but are still in the downtown area. The greatest advantage to this is how close you are to everything, including restaurants, cafes, theatres, and bars. These are hot sellers right now and can be a little more difficult to find.
A townhouse is a great option if you have a family and prefer to have a lawn for the kids to play on while having plenty of amenities just a short walk away.
You’ll find these spacious manors outside of the downtown and usually further away from the inner city. The only disadvantage of a home is that you are going to be deep in suburbia and a house is a high maintenance project with no one else but you to cover it. This is the biggest thing to think of when considering a detached home: it will be your castle, but it also comes with added expenses. These expenses include calling in plumbers and electricians if anything goes wrong, and much of this comes out of your pocket.
The biggest benefits to owning your own house is that your neighbours are always a little further removed from you then in a townhouse or a condo, and their isn’t any condo committee that you have to contend with. Every thing you do is purely up to you, and no one else! There is also the advantage of having that big front and back lawn, along with that slower pace of life away from the hectic downtown.
Overall, a detached house has the advantage of plenty of space both inside and outside, is ideal for children, and is something you’ll have complete control over.
We hope this helps you to make the best decision for you and good luck hunting for a home!