Article Categories
» Arts & Entertainment
» Automotive
» Business
» Careers & Jobs
» Education & Reference
» Finance
» Food & Drink
» Health & Fitness
» Home & Family
» Internet & Online Businesses
» Miscellaneous
» Self Improvement
» Shopping
» Society & News
» Sports & Recreation
» Technology
» Travel & Leisure
» Writing & Speaking

  Listed Article

  Category: Articles » Finance » Real Estate » Article
 

Toronto Real Estate: Finding the Perfect Neighbourhood for the First -Time Home Buyer




By Rebecca Laing

You have decided to take the leap into becoming a homeowner. You've done your homework, you can recite the CMHC fee schedule, you can calculate land transfer tax in your head, and you have even bought the DVD box set of Flip this House.

But what about choosing a neighbourhood?

While personal considerations such as living close to family (or keeping a comfortable distance from them) may limit your selection to only a few Toronto neighbourhoods, there are otherwise over two hundred communities across the city from which to choose. Here is a sampling of some of the more popular neighbourhoods for first time home buyers:

Riverdale and Danforth Village

From Broadview to Woodbine, straddling the first few streets on either side of the Danforth, and Danforth Village combine to offer a selection of stylish entry-level character homes. Perfect for the young urban dweller with a disdain for the uniformity of suburbia, this area offers convenient subway access, cool Danforth dining and shopping, and a range of prices for every budget. Riverdale is superb both for finding homes with great bones for the ambitious do-it-yourselfer, and finding magazine-quality renos for those you want to just move in and impress their friends.

Riverdale and Danforth Village Real Estate Values: Entry-level Danforth Village homes range from $250-400,000 while entry Riverdale homes range from $400,000-550,000.

East York

The portion of East York spanning from the Danforth north to O'Connor Drive offers some of the best value in all of Toronto. It is still possible to find homes for under $325,000 that are on quiet streets, are close to the subway, and that don't give you an icky feeling when you step inside. The author can personally attest that East York is a very pleasant place to live, as it is where she bought her first two homes!

Thinking about eventually either having a family, or needing more space? Consider one of the traditional East York bungalows, and then have one of the rapid renovation companies that specialize in "topping-up" bungalows add a second floor when you need it. (This is also a respectable way to add value to your investment; some of these topped-up bungalows are fetching $500-600,000 on resale).

East York Real Estate Values: While some semis and small detached homes can be found for as low as the $250-300,000 range, a much greater selection is between $300-400,000.

Harbourfront

Who said that just because you are a first time homebuyer, you can't have a view of the water and be right in downtown Toronto? While you can't expect a sprawling Harbourfront condo penthouse for under $200,000, there are bachelors and junior one-bedroom units in contemporary buildings with excellent facilities that sell for as little as $180,000. In addition to building amenities, you have Harboufront's cultural attractions and Lake Ontario's outdoor activities outside your door, with streetcars and the downtown only steps away.

Davisville Village

Right in the middle of the city, Davisville Village offers some of the best-priced housing options within the desirable Yonge Street corridor. Offering the convenience of a brief subway ride to downtown, Yonge St. shopping, and loads of fun restaurants and pubs, Davisville Village has been attracting young buyers looking for their first home or condo. The hoards of singles in their twenties and thirties who reside in the numerous condos near Yonge and Eglinton are what have earned the neighbourhood the moniker of Young and Eligible.

Davisville Real Estate Values: Entry-level condominiums have been recently selling from close to $200k, while semi-detached homes start at around $400,000.

Other Neighbourhoods

From Don Valley Village to the Upper Beach, Toronto offers dozens of affordable and convenient neighbourhoods that are excellent for the first-time home buyer. Read full profiles on these and other communities by visiting: http://www.rebeccalaing.ca/Toronto_Real_Estate_Map
 
 
About the Author
Rebecca Laing is a Toronto Real Estate Sales Representative for Sutton Partners Realty Inc. Brokerage on Danforth Avenue in Riverdale. Rebecca primarily services homebuyers in downtown, midtown, and east Toronto. Visit - http://www.rebeccalaing.ca/ to search thousands of Toronto homes for sale, read neighbourhood profiles, and to subscribe to receive new MLS listings.

Article Source: http://www.simplysearch4it.com/article/41799.html
 
If you wish to add the above article to your website or newsletters then please include the "Article Source: http://www.simplysearch4it.com/article/41799.html" as shown above and make it hyperlinked.



  
  Recent Articles
Effective Real Estate Strategies for Slow Markets
by Craig Higdon

Real Estate Management
by Ismael D. Tabije

Why A Buyer Should Protect Himself With Title Insurance
by Nef Cortez

Letting agents for fast letting services
by Rick Martin

Letting agents directory – making your search easier
by Rick Martin

Hot Commercial Properties in Gurgaon
by Anand Kumar

Home Sellers - "Right" Pricing Your Home
by Nef Cortez

5 Mistakes to Avoid When Selling Your Home
by Nef Cortez

Property Management
by Ismael D. Tabije

California Renters Squeezed by Lack of Affordable Rentals
by Nef Cortez

To FSBO or not to FSBO?
by Nef Cortez

Personal Insurance For Property Investors
by Luke Andersen

Managing Risk In Property Development
by Luke Andersen

When To Develop Property
by Luke Andersen

Home Buying Without the Added Stress
by Barbara Thorp

Indian Real Estate Market
by yaken schecher

Real Estate Marketing; The Profitability Of Past Clients
by Lanard Perry

Money Making Real Estate Marketing Ideas
by Lanard Perry

Can't connect to database