Best Neighbourhoods for Realty Investment in Toronto
Written by: Erica Mary Smith
Posted on: November 9, 2015
When looking for the right Toronto real estate to invest in, the most important consideration is easily the neighbourhood or location of the property. While you can always fix up a house, you can’t change the neighbourhood. Location is a key factor when it comes to buying property, and the cost of housing will differ depending on what neighbourhood you’re in.
With Toronto’s real estate market booming, prices can be high, but the right neighbourhood can offer great deals on property that will also retain their value no matter what the market conditions are.
What to Look for When Investing in Real Estate
When trying to find the right neighbourhood for a good investment property, there are certain things you should be looking for. Look for the features and characteristics that make a neighbourhood a good place to live. It doesn’t matter how nice a home or condo is if it’s in an undesirable area, whereas a great neighbourhood can elevate any property.
You should look for a neighbourhood that offers a lot to its community but is also up-and-coming or a bit under the radar. There are plenty of small gems tucked away throughout the city that are underpriced compared to their surrounding neighbourhoods.
One key thing that makes neighbourhoods more livable is access to parks, shorelines, or other little pockets of nature. Some of the most prime spots for real estate in the city are in places close to The lake or parks, such as the Beaches or High Park. While these areas are known for being pricey, there are plenty of other low-key neighbourhoods with a great diversity of parkland. These neighbourhoods are popular with dog owners and families with small children. With more development taking place in Toronto, neighbourhoods that still retain some parkland are always in demand.
Another great sign of a good neighbourhood is access to both quality schools and good shopping. No matter what the market, these neighbourhoods are always desirable with families. Look for close proximity to shopping centers, as well as popular shopping districts.
Consider neighbourhoods that can easily access the downtown core. Not only do these neighbourhoods allow for plenty of arts, entertainment, and cultural opportunities, but they are also popular with working professionals who have to commute to the city core. Look for neighbourhoods with various transit options. Neighbourhoods that will get subways or light rail transit in the years ahead offer perfect opportunities for investment.
What Neighbourhoods Should I Invest In?
Here are a few select neighbourhoods that are worth looking into for your investment:
This neighbourhood is perfectly suited for families; it includes top-ranking schools, easy transit access to downtown Toronto, and affordable housing values. This neighbourhood has started to see increasing commercial development, indicating that it’s up-and-coming and only going to become more popular.
While housing prices have soared in areas like the Annex and Cabbagetown, Dufferin Grove offers splendid Victorian homes close to the downtown core at a fraction of the price. Close to a shopping centre and a large park, the Dufferin Grove neighbourhood is within walking distance from several trendy, up-and-coming neighbourhoods, like Lower Ossington and Parkdale.
While it suffered from a bad reputation for many years, Regent Park is quickly being transformed into a haven for working professionals looking for urban living. Some of the newest and best-valued condos for sale in Toronto are in or around the Regent Park neighbourhood, which is in the heart of downtown Toronto and provides quick access to shopping centers, cultural institutions, and subway lines. It is a great option to look into for an investment.
Condo Chicks from Stomp Realty Inc. is a dedicated team of realtors who are behind some of the most prestigious and prominent condominium sales in the Greater Toronto Area. We take pride in negotiating on your behalf to represent your best interest. For more information, please visit our website.