Real estate prices are not what they used to be in the Greater Toronto Area (GTA), which is that they were once significantly cheaper. What used to cost under a million now costs well over a million. As a result, neighborhoods in Toronto have quickly resembled rich European capitals with access to modern life necessities like stylish caf?s, multinational restaurants, blocks of green spaces, and the like. A look through Toronto real estate listings will help you narrow down your choices for a new home in Canada?s most sophisticated city.
If price is of no consequence, then the mid-rise condominiums of Corktown come highly recommended by Toronto Life. According to the Real Estate Board, in 2011 the average property price in Corktown was pegged at $501,055, a little over a hundred grand more than prices back in 2009. Corktown is undergoing an impressive urban development with an 80-acre planned community. The massive construction will include townhouses, new parks, elementary school, and condominiums. Currently, though, there are arty lofts with exposed concrete ceilings that may just rival stylish New York digs in SoHo.
For a close-knit community vibe, Blake-Jones offers neighborly appeal, particularly in the east side. There are communities here that organize block parties and even cleanups. You will find brick homes with wide verandas and bay windows in the east end, which is also known as the Pockets by locals. Meanwhile, community housing developments mostly occupy the west side. The average price of a home back in 2009 used to be $469,341 and in 2011 prices rose up to an average of $584,455.
Other neighborhoods to consider are St. Lawrence, Wallace-Emerson, and Brockton Village. St. Lawrence, like Corktown, is getting an urban facelift as well with high-rise condominiums. Wallace-Emerson in the meantime is a young, hipster couple?s dream with its vintage shops, galleries, restaurants, and caf?s. This neighborhood and the adjacent neighborhood, Brockton, are undergoing developments with construction of condominiums, townhouses, and work and retail spaces ? all designed to meet the young professional?s discerning eye for style.
Clearly, the good life is to be found in Toronto. But if you?re short on the cash flow, there are ways for you to save a few dollars and still live the Toronto homeowner?s dream. The best way to save up some cash when buying a house in a good neighborhood is to know current trends in the real estate market and have invaluable assistance from an agent. You can then scour the Toronto real estate listings for your perfect location.
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