Jim Burtnick, Author at Silver Burtnick & Associates

Toronto is one of a few Canadian cities where you can live comfortably and conveniently without owning a car. Whether you love riding your bike, want to pass on the costs of owning (and insuring) a vehicle, reduce your environmental impact, or simply embrace a more walkable, community-oriented lifestyle, there are plenty of pockets in Toronto where you can thrive without driving.

If you’re looking to live car-free in Toronto, this blog is for you! We’re offering up our top picks for neighbourhoods based on their walk and transit scores.

Getting Around on Foot

Living car-free is about more than just getting from point A to point B on foot, it includes the availability of essential services like grocery stores, healthcare services, shopping, dining, and other everyday destinations within walking distance of your home. With that in mind, one of the greatest perks of living in Toronto without a car is the city’s walkability. With a Walk Score of 61 for the entire city (and many neighbourhoods boasting significantly higher scores), it’s convenient and accessible for pedestrians.

Trying to find the best neighbourhood in Toronto for your needs and lifestyle? Check out these blog posts next!

Toronto by Public Transit

Toronto is home to one of the most extensive and reliable public transportation systems in North America, managed by the Toronto Transit Commission (TTC). Whether you need to travel within the city or even commute elsewhere in the Greater Toronto Area (GTA), the city’s robust public transit network makes it possible to live car-free.

The Toronto subway system is one of the fastest ways to traverse the city, running along four major lines: Line 1 (Yonge-University), Line 2 (Bloor-Danforth), and Line 4 (Sheppard). If you’ve ever experienced rush hour traffic in Toronto it won’t surprise you to know that travelling by subway can actually be a lot faster than driving at certain times of the day.

On top of the subway, Toronto also has a great streetcar system, particularly in downtown neighbourhoods. Streetcars, paired with an extensive bus network, offer comprehensive coverage for residents in all parts of the city. Most streetcar and bus routes are connected to subway stations, ensuring easy transfers across the TTC network.

Where Should You Live in Toronto if You Don’t Have a Car?

Liberty Village

With a walk score of 88 and a transit score of 96, Liberty Village is one of Toronto’s fastest-growing neighbourhoods, known for its young professional demographic and modern condo developments. With excellent public transit connections, including streetcars and nearby GO Transit access, Liberty Village is ideal for commuters. The neighbourhood’s mixed-use design means that everything from gyms to grocery stores and coffee shops is just steps away.

Want to know more about Liberty Village’s unique draw to entrepreneurs and young professionals? Click here to read our blog all about it!

King West

Located in the cultural heart of downtown, King West is one of the most walkable and transit-friendly areas in the city. With a transit score of 100, residents have access to subway lines, streetcars, and buses that connect to every corner of Toronto. Further, this neighbourhood also offers easy walkability to shops, restaurants, nightlife, and cultural landmarks, making it ideal for those who want to be at the heart of the action.

Kensington Market

Known for its vibrant atmosphere, Kensington Market is a pedestrian-friendly neighbourhood that makes living without a car easy. In fact, “The Market” as locals call it, closes the neighbourhood to vehicular traffic on the last Sunday of every month from spring through fall – turning into a vibrant pedestrian-only hub.

Streetcars and buses provide ample transit options, while the eclectic array of shops, cafes, and grocery stores makes everyday errands manageable on foot. Plus, its proximity to the University of Toronto and downtown amenities make it popular with students, professionals, and artists.

Getting ready to buy a home? Explore these related blog posts for tips on buying!

The Annex

Located just outside of the downtown core, The Annex blends suburban energy and modern conveniences. With easy access to Line 1 (St. George and Spadina stations) and numerous streetcars, The Annex is ideal for those who prioritize transit access. It also boasts an impressive selection of cafes, bookstores, and parks, making it a pedestrian-friendly community.

Riverdale

Nestled in the east end of Toronto, Riverdale combines suburban tranquillity with easy urban access. With a transit score of 92, the area is well-served by buses and streetcars that connect to the subway, making it a great option for families who prefer a quieter lifestyle without sacrificing transit convenience. The proximity to parks and the Danforth’s diverse range of dining options makes Riverdale a highly desirable location.

Ready to head to the market? As Toronto’s leading real estate experts, we can help you find a home that speaks to your heart. Send us an email or call 416-587-3300 to discover your path to success.

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For a long time, Toronto real estate had a reputation for constantly escalating – especially post-COVID-19. When interest rates dropped, buyers flooded the market, causing housing prices in the city to break records on an almost monthly basis. However, just a couple of years later, changes to interest rates caused the market to balance out, leaving buyers and sellers in a neutral position where neither side had the advantage.

Today, there seems to be a little confusion about where the market stands, with many people asking “Are Toronto houses still getting more expensive?”

Where Toronto’s Market Stands Today

So, how hot is Toronto’s real estate market right now? Are house prices still trending upward? Truthfully, neither of these questions can be accurately answered with a simple yes or no. Instead, painting an accurate picture of one’s position within the market is completely dependent on a buyer or seller’s personal circumstances.

Working with an experienced real estate team is more important than ever. Click here to discover what it’s like to work with us.

A City of Micro-Markets

Right now, Toronto’s real estate landscape looks more like a colourful mosaic or patchwork quilt than a singular entity. Trends are shifting at a hyper-local, hyper-nuanced level. While it was once helpful to look at broad, large-scale trends across the market, adequately understanding buyer/seller dynamics now requires zooming in and studying the relevant micro markets.

Even in a neutral market, the dynamics of a specific area can differ greatly from the city-wide average. For example, one neighbourhood might be experiencing a surge in demand due to new amenities, while another might be cooling off because of construction or other factors.

Preparing to buy a home in Toronto? Check out these blogs for more buying advice.

How Trends Change Neighbourhood by Neighbourhood

Toronto is a vast city, and its neighbourhoods vary widely in terms of amenities, demographics, and accessibility. Some areas might be seeing strong interest due to proximity to good schools, parks, or public transit, while others might be less in demand at the moment. This localized demand can dramatically affect home prices, competition, and the speed at which properties are sold.

For example, more established neighbourhoods like Cabbagetown, which offer easy access to downtown and access to great schools, might still be seeing a lot of buyer interest. On the other hand, newer, up-and-coming areas like Liberty Village or Regent Park may be experiencing different market conditions, especially as new developments hit the market.

This dynamic is one of the reasons why it’s hard to answer questions about how housing prices are evolving. Demographic, social, and economic differences, no matter how subtle, have a major impact on demand. To that end, prices can fluctuate significantly from one neighbourhood to another.

In some of the more affluent areas, like The Annex or Lawrence Park, home values may remain stable or even increase slightly due to high demand. In contrast, areas with a lot of new condos or development projects might see more modest price changes as supply catches up with demand.

Opportunities For Everyone

Today’s market conditions are unique, however, they’re not entirely unprecedented. As real estate agents who have bought and sold homes in Toronto for several decades, we’ve worked in practically every type of market possible. With this experience in our back pocket, we offer you this good news: you can find success in today’s market whatever your goals may be. In other words, there’s an opportunity for everyone to reach their goals.

What’s the Good News For Buyers?

There are a handful of reasons why it’s currently a great time to buy. When Toronto’s market was red hot, a lot of buyers felt rushed or pressured to act quickly. Now, you’ve got much more breathing room. You can take the time to view multiple properties, weigh the pros and cons, and ensure that the home you choose truly fits your needs. That said, some homes are still attracting competing offers so there may be instances where you have to be quick on your feet – however, it’s much more rare.

On top of this, with homes spending more time on the market, there’s also a little more space for negotiation. Right now, sellers are more likely to entertain offers that come in below the asking price or have different terms. While you may not get a massive discount, you might find sellers more willing to meet you in the middle.

Finding a great home in Toronto starts with finding the right neighbourhood for you. Explore these related resources for more insights!

What’s the Good News For Sellers?

Because Toronto was once known for frequent bidding wars and constantly climbing house prices, some sellers feel like they’ve missed out on their one chance of an amazing sale. However, that’s not the case.

Even though the market isn’t completely skewed in favour of sellers, properties are still selling at fair market value. If you’ve done your due diligence, i.e. working with a great listing agent, prepared and staged your home, priced it appropriately, etc., you can still expect to receive offers close to your asking price. Buyers may be more selective, but they’re also willing to pay for homes that check all their boxes, especially in neighbourhoods where demand is still strong. So, even if it takes a bit longer to find the right buyer, the fact that the market is stable means there’s less risk of your home’s value declining sharply.

Ready to head to the market? As Toronto’s leading real estate experts, we can help you reach your goals. Send us an email or call 416-587-3300 to discover your path to success.

buying toronto working with an agent

Getting a house ready for sale can be a lot of work – no matter the time of year. However, there are some parts of getting your home market-ready that are easier or more practical when the weather is warmer.

In this blog, we’ll look at how you can get your home on the market before snow arrives in Toronto.

Will the Season Impact My Sale?

Winter isn’t everyone’s favourite season, however, it can be a good time to make real estate moves. As real estate agents, we’re often asked about the best time of year to sell a home in Toronto. To the surprise of some sellers, the answer to this question isn’t as straightforward as picking a month on the calendar.

Yes, real estate in Toronto can follow seasonal trends. However, with the right approach (and help from a great agent) it’s possible to achieve a successful sale at any time of year.

At the end of the day, the right time to sell is when you’re ready to. If you sit around trying to time the market, you could delay starting a better, more enjoyable chapter in your life.

Unsure when the right time to sell your home will be? Click here to read our blog about timing your sale to suit your life.

Get the Ball Rolling on Preparations

If you really want to sell your home before winter comes around, it’s best to get going on certain tasks as soon as possible.

Start by clearing out the clutter. This means getting rid of any unnecessary belongings that could be interfering with the ambience of your home. Pay a little extra attention to doorways, mudrooms, and closets, as buyers will be looking for adequate storage space for winter coats and boots.

Now that you’ve got a little more space to work with, ensure all minor and major repairs are addressed. Winter’s cold weather can have buyers on the hunt for something turnkey. They’ll be more likely to make an offer on a well-maintained home, knowing they won’t have to worry about costly repairs once they move in.

If there are any fixes you’ve been putting off like leaky faucets, squeaky doors, loose doorknobs, or paint chips, now is the time to take care of them.

Want to get the best result from the sale of your home? Explore these other advice-packed blogs next!

Take Photos Before the Snow Falls

Even if you’re aiming to list your home in January or February, you can always have professional photos and videos taken of your home during the late summer or fall. This is something we encourage our clients to do simply because the payoff is well worth the effort.

Marketing is a super important part of maximizing interest in your home. Regardless of when you head to the market, there’s a very high chance that the future buyer of your home will first discover it in some form of marketing – this could be your online listing, a postcard, or another type of advertisement. With that in mind, taking photos of your home (at least the exterior and yard) before the snow falls is a good idea.

Fall in Toronto has an undeniable charm; you can use this to your advantage. The colour of the changing leaves adds a nice touch of ambience to photos. You can also be strategic by highlighting specific outdoor spaces or amenities you may have. For example, if you have a deck or patio, you can stage these areas with outdoor furniture and lighting to show how they can be enjoyed even in cooler months.

See For Yourself

Compare these two photos. While both backyards are great, they present differently based on when they were taken.

Already thinking about where you’ll be living next? Check out these blogs all about buying in Toronto.

Be Winter Ready

Winter is a big part of life in Toronto. If you’re putting your home on the market between the fall and spring, buyers are going to have cold weather in mind. They’ll be looking for a home that can withstand a Toronto winter. Making sure that your home is cozy, warm, and protected from harsh temperatures can be a major selling point.

All that being said, there are a handful of smaller projects that you can do to make your home warmer – and they all come with a great ROI.

Check Windows & Doors

Inspect your windows and doors for any leaks or drafts. Properly sealing them will prevent heat from escaping, making your home warmer. Weatherstripping is inexpensive and easy to apply but has a big impact. If you have single-pane windows, consider upgrading to double or triple-pane windows. These provide better insulation and noise reduction, making the home cozier during winter months.

Update Furnace & HVAC

A well-maintained furnace and HVAC system are a huge plus for buyers as it shows you’ve taken proper care of the home. While it won’t necessarily make your home warmer, it’s also a good idea to change your furnace filter while you’re at it. This will improve your home’s air quality and the overall efficiency of your furnace and HVAC systems.

Smart Home Heating

Lastly, there are also certain smart home technologies that can help you keep a warm and comfortable home. For instance, installing a smart thermostat is a small investment, but it’s one that buyers will appreciate.

Thinking about selling your home? Our industry-leading strategies can ensure you get the best possible result in Toronto’s ever-shifting market. Call 416-587-3300 to get in touch, or click here to send us an email.

real estate selling tips toronto

Downsizing is a natural step in the cycle of homeownership. At some point, the house you’ve called home for several years (maybe even decades) will no longer be the most practical, and when the time comes, you’ll make the transition to something smaller and more manageable.

While there are a lot of important decisions that come with downsizing, one that is often unconsidered is whether or not it is better to buy or rent your next place. Many downsizers assume that buying is the way to go. However, renting as a retiree absolutely has its merits.

In this blog, we’ll touch on the advantages of switching to renting as a downsizer to help you decide if it’s the right path for you.

Cut Your Costs

Renting has a lot of appealing aspects to it. However, one of the primary reasons why people choose to rent in retirement is the lower costs. When you buy another home, you’re not just paying for the property itself. You’ll also be on the hook for transactional costs like land transfer taxes and legal fees, plus recurring costs like annual property taxes. These costs can add up in a hurry. Alternatively, renting doesn’t come with many costs beyond what you pay in rent.

Want to sell your home and downsize? Check out these related blogs for more helpful insights!

Lifestyle Related Costs

On top of the hard costs of homeownership, you could face additional expenses depending on how you choose to spend your retirement. For instance, if you’re looking to do some travelling or want to spend the winter months somewhere warm, you’ll want to think about Toronto’s Vacant Home Tax (VHT).

If you’ll be in your own home for less than 6 months out of the year, there’s a good chance the VHT applies to you. This means you’ll be on the hook for paying 1% of your home’s value (on top of all other taxes) every year.

Unlock More Freedom

The advantages of renting as a rightsizer aren’t just monetary. On top of having fewer financial responsibilities, renting usually means having less to worry about on the property upkeep side of things.

One of the biggest reasons people choose to downsize is for the convenience it provides. With that in mind, a significant advantage of renting is that it cuts out many of the responsibilities of homeownership. For instance, when you rent, you’re not burdened with property maintenance, repairs, or the stresses of property ownership. Instead, you get more time to spend on things you enjoy. This also makes it easier for you to pack up and go if you’re a frequent traveller.

Thinking about downsizing to a rental? Explore these blogs for more helpful advice.

Choosing the Right Property Matters

Renting comes with its fair share of perks, but it’s not totally risk-averse. Toronto’s rental market can be volatile which means that choosing the right type of rental is just as important as choosing the right type of home.

When you own your own home, you can stay put for as long as you like. However, when you’re renting a property that’s owned by someone else, you don’t always get a say. For instance, if your landlord chooses to sell the property while you live there, you could be required to leave on only a few months’ notice. Renovation-related evictions are also somewhat common in Toronto and they can be difficult to appeal.

So, all that said, tapping into Toronto’s dynamic purpose-built rental market can be a smart way to find your next home. Unlike independent rentals which are usually owned by small-scale investors who manage a portfolio of one to a few dedicated income properties, a purpose-built rental property offers a much more secure and predictable living situation.

As an experienced and collaborative real estate team, we can help you navigate the process of rightsizing. When you’re ready to begin your next chapter, get in touch. Click here to send us an email or call 416-587-3300.

downsizing purpose built rentals renting

Toronto is a big city – and not just population-wise. With almost 200 unique neighbourhoods, certain areas have remained relatively low-profile throughout Toronto’s evolution. However, as new generations of home buyers enter the market with their own wants and needs, the demand for real estate in any given area can ebb and flow.

While downtown, the west end, and even midtown communities like Yonge & Eglinton have long been a first choice for younger Torontonians, the city’s east end has been on the rise in popularity in recent years – and for good reason.

About to buy your first home? Explore these related blogs for more advice.

East Toronto Neighbourhoods For First Time Buyers

There’s a lot to love about Toronto’s east end (and not just for young buyers). That said, one of the primary reasons we’re seeing more Gen Z and Millennials start their home search east of the Don River Valley is the many fantastic neighbourhoods in this part of the city.

Here’s a look at just 3 of the east end’s many amazing communities.

Old East York

One of the driving factors for Old East York’s increased popularity is the selection of family-ready homes. This part of the city is rich with charming bungalows, most of which sit on nicely sized lots with private backyards – making them great for young families or couples who are looking to start a family in the coming years.

Old East York’s unique location makes it easy to access the best of central and midtown Toronto. Just a bridge away from Leaside, residents are just moments away from fantastic shopping and dining, more essential amenities, and a number of Toronto’s top private schools.

Riverdale

Nestled just east of downtown Toronto, Riverdale has a lot to offer both families and young professionals. You’ll find quiet, tree-lined streets, amazing cultural amenities, beautiful homes and easy access to downtown no matter how you commute. It’s not hard to see why Riverdale has become one of the most popular neighbourhoods for buyers across the city – not just the east end!

Riverdale is also home to one of the largest green spaces in the city. The stand-out Riverdale Park features three baseball diamonds, a skating rink, a swimming pool, tennis courts, a running track, and tons of great spots for families — including a movie night during the summer.

The Beaches

The Beaches is a down-to-earth neighbourhood right along the shores of Lake Ontario. Like Riverdale, The Beaches is slowly becoming one of the city’s most in-demand neighbourhoods despite once being a hidden gem. For most younger home buyers, The Beaches truly leaves little to be desired. There’s fantastic transit, unique local retailers, great bars and restaurants, and some of the best-ranked public schools in the east end.

Beyond the lifestyle and homes, The Beaches’ four sandy beaches (which run along the community’s edge) are a major attractor. Balmy Beach, Scarboro Beach, Kew Beach, and Woodbine Beach are popular destinations for swimming, relaxing, walking, cycling, and more.

Want to learn more about Toronto’s best communities? Have a look at these related blogs next!

Finding the Perfect First Home

When it comes to buying a home, working with the right professional can make a world of difference. As a buyer in today’s market, the best way to maximize your chances of finding (and landing) your dream home is to work with a creative and experienced real estate agent – like us! With multiple decades of experience all over the city, Silver Burtnick & Associates has the expertise, industry insights, and network to help you turn your real estate dreams into a reality.

Whether you’re looking to buy in the east end or anywhere else, we can help you find the right place to settle down.

Ready to head to the market? As Toronto’s leading real estate experts, we can help you find a home that speaks to your heart. Send us an email or call 416-587-3300 to discover your path to success.

buying lifestyle neighbourhoods real estate

There are a number of circumstances that may lead to you inheriting your parents’ home. For instance, your parents could be downsizing to a condo and want to pass the home onto you rather than selling it, perhaps they are transitioning to a long-term care facility, or maybe one or both of them have passed away.

Either way, the process can be a little complicated. However, it’s important to know that as a beneficiary you have options. In this blog post, we’ll explore what some of those options are, and what you need to consider when following your preferred path of action.

Note: This article is intended to provide high-level guidance on a complex subject. For personal advice, speak to our team directly. Click here to send us an email or call 416-587-3300 to be in touch.

Selling Your Parents’ Home

One of the most common outcomes of inheriting a parent’s home is selling it. This is especially the case when there are multiple beneficiaries. If you are inheriting a home alongside other siblings, selling the property and dividing the profits could be the most straightforward outcome. That said, whether you’re the sole beneficiary or not, there are a number of important considerations to mull over before you list the home.

What to Know Before You Sell

As you might expect, there’s a lot of legal red tape involved in selling your parents’ home – even after you’ve inherited it. Many people assume that simply because they’ve been left a home in their parents’ will(s) or have a handshake agreement with their parents they can simply call a real estate agent and have the house on the market in a few days time. In reality, it’s a little more complicated.

Before you can sell your parents’ home, you need legal authorization. This could look like becoming the executor of the estate – i.e. following the probate process or seeking Power of Attorney (POA). Both of these steps can involve various delays and setbacks so it’s important to be on the ball before you start the selling process. In Toronto, probate may take as long as 6 to 9 months depending on the specific details of the estate. So, it’s best to get a head start on probate as soon as you can if you’re in this position.

For more insights watch our interview with Probate-specialist and Real Estate Lawyer David Kelman.

Capital Gains Basics

One very important thing to know about selling your parents’ home (when you’ve inherited it) is that you will be subject to taxation. While there’s no formal inheritance tax in Canada, you will have to pay capital gains tax once you choose to sell it.

Capital gains tax applies to 50% of the increased value of the home between the time you inherit it and the time you sell it. So, the longer you wait to sell, the more the home will appreciate in value and the more you’ll be taxed.

Are you actively helping your parents on their downsizing journey? Check out these other blogs for more tips!

Keeping It

If you don’t want to sell your parents’ home, you could also keep it. This may seem like a more simplistic process than proceeding with a home sale, but there are still a number of critical considerations.

Why Keep Your Parents’ Home?

Now, you may ask yourself “Why should I keep my parents’ home?” After all, if you already have a home of your own, it may not make sense to have a second property on your hands.

Well, if your parents’ home is located in Toronto – or any other growing market in Ontario (or Canada), the income potential is likely very strong. Right now, the demand for rental housing in Ontario is growing exponentially, and landlords are enjoying healthy returns on their investments. With that in mind, keeping your parent’s home and converting it into an income-generating rental property can pay dividends almost immediately.

Of course, keeping your parents’ home also gives you the option to move in yourself – if you’re interested in that particular path. On that note, if you’re currently a homeowner, you can proceed with selling your existing home or renting it out in order to generate wealth for yourself and your family.

Helping your parents find the right home for their next chapter? Check out these blog posts for unique insights.

Figuring Out the Right Path For You? We Can Help

Choosing what to do after inheriting your parents’ home isn’t always an easy decision. If you’re not sure which pathway will be right for you, we can help.

As experienced real estate agents who directly specialize in downsizing and estate sales, we have a unique degree of expertise in these types of circumstances. After getting to know you and your goals, we can make helpful recommendations on which option suits you best. Next, we’ll guide you through a smooth real estate process – whatever that may look like based on your ideal outcome.

Inheriting your parents’ home and unsure what to do? We can help! Click here to send us an email or call 416-587-3300 to be in touch.

downsizing inheritance selling a home working with an agent

Author: Jim Burtnick

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