Two Most Popular Housing Options in Toronto: Condos and Town Houses

Living in Toronto means living in Canada’s vibrant and largest city and the provincial capital of Ontario. Many homes and town houses in the city do not resemble the downtown character of the commercial skyscrapers. In fact many of the homes in this city date back to the Edwardian and Victorian eras. Of course, there are hundreds of smaller communities that boast newer homes and modern style real estate. Condos are very fashionable in Toronto and one of the main reasons is they are relatively cheap to buy or rent.Condos are the cheapest and you’ll find prices ranging from $59,000 Canadian dollars for a three-bedroom condo in a high rise area and close to downtown, which can be about the same price as you pay for a plot of land measuring around 4,000 sq ft in the more desirable locations of Toronto. There is a trend for land or plot buying as once you invest in a plot you are essentially investing in an area that will soon become very desirable and sought after real estate country.Town houses are very popular and a three bedroom house (or bungalow) can be yours for just $85,000 in Pleasant View area of Toronto. A two-bedroom, one bathroom home in Toronto’s Emerald Street would still cost well below the $100,000 mark and these types of properties are excellent for first time buyers or investors looking to buy to let.A decent and spacious condo, often coming with two bathrooms can be easily sought for around $110,000. There are a number of affordable homes in Toronto and if you are seeking luxury then you’ll find plenty of real estate that would be fit for a king. Oakland Park Court, for example, on the Burlington water front estate boasts properties with six bedrooms and every one of them coming with an en suite bathroom in a home with its own private harbour to boot!The real estate market in Toronto is starting to perk up once more following years of being stuck in a housing price slump. The world economic recession and housing market crash that began in 2008 hit many cities in Canada, with Toronto being hardest hit of all in Ontario but the trend has stopped and investor confidence is returning at last in this great city. Real estate should see prices beginning to cautiously move back upwards in the next five years, so buying now can be a sound investment plan.