With some of the highest demand for real estate in North America (especially rental properties), Toronto is a uniquely attractive destination for investment. Along with its thriving market, the city’s vast and diverse real estate landscape offers investors a myriad of options with regard to property types. That said, not every type of real estate will work for every investor. 

For new or up-and-coming investors seeking a smooth and lucrative venture, condos make a great fit. In addition to their comparatively lower costs, condos typically make for an easy, hands-off investment experience. 

If you’re considering an investment in Toronto real estate, here’s what you need to know about condos. 

Searching for more investor-focused resources that can help you build personal and generational wealth? Check out these blog posts. 

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Preparing For Your Investment

Understanding Your Goals

There are a lot of upsides to investing in real estate. However, it can be helpful to approach your condo purchase with one or more specific goals in mind. 

Are you looking for long-term appreciation, rental income, or a combination of both? Don’t forget to consider how hands-on you’d like to be with the property. Understanding your objectives will guide your decisions throughout the purchasing process and help you narrow down your options.

Setting Your Budget

Just like buying a property that you’ll be living in, investing in a Toronto condo comes with a substantial financial commitment. As a result, you’ll need to outline and create a budget based on your financial resources. Beyond just the purchase price, factor in additional costs such as closing costs, property taxes, maintenance fees (also known as condo fees), and potential upgrades or renovations. 

If you’re unsure about your financial readiness, getting pre-approved for a mortgage can be a simple yet effective way to ensure you have a clear understanding of your budget and funding options before you venture into the market. 

Work With an Agent

You wouldn’t buy your dream home without a real estate agent and the same thing goes for investing in a condo. Navigating Toronto’s real estate market can be challenging, especially for first-time investors. 

Taking this into account, engaging the services of a local real estate agent (or team) with specialized experience in the condo market can be invaluable. They can provide market insights, guide you toward the perfect property, handle the negotiation and closing processes, and provide long-term advice on managing and optimizing your investment. 

Should I Buy Pre-Construction?

As a unique type of purchase, pre-construction condos are a dynamic sub-sect of Toronto’s real estate market. But do they make a good investment? Just resale condos, the suitability of a pre-construction investment will depend on your personal goals as an investor and the specific properties themselves. 

If you are interested in going the pre-construction route, it’s important to be aware of the adversities that may come up during your investment journey, such as delays in construction and occupancy. Once again, look for a real estate agent who has direct expertise in Toronto’s pre-construction market. They’ll be able to help you identify opportunities that suit your goals while protecting you from potential pitfalls. 

Preparing to become a landlord in Toronto? There’s a lot you’ll want to know first. Explore these blogs for helpful advice. 

• How to Screen Tenants For Your Toronto Rental Property
• Basement Apartments: Retrofit Doesn’t Mean Legal
• Should You Lease Your Home Instead of Selling?

Foundation For a Smooth Investment

While you’re the driver of your investment journey, there are ultimately other people who play a role. In the case of renting out your condo, finding the right tenant can make all the difference in the success and stability of your investment. A great tenant can provide you with an easy, low-stress experience. However, a bad tenant can lead to late rent payments, property damage, and in rare circumstances legal issues. Luckily, as a landlord, you can mitigate these risks by doing your due diligence. 

Thanks to the strength of Toronto’s rental market, there is a remarkably vast pool of potential tenants to choose from. While this is ultimately a good thing, it can make the process of sourcing the perfect tenant a little more difficult. That said, it’s extremely important to conduct a thorough screening before allowing a tenant to lease your property. This process is fairly in-depth and can take time and effort, however, it’s well worth the work.

Realities of Being a Landlord 

In Toronto’s current real estate landscape, being a landlord is somewhat of a paradox. On one hand, demand and profit potential have never been higher, on the other, larger economic trends have led to a surge in cases at the Landlord and Tenant Board – creating a gridlock that makes it harder for landlords to solve certain tenant-related issues. In some extreme cases, landlords have tenants who are withholding rent and are unable to pursue eviction for several months. This leads to these investors incurring debt as a result of unpaid rent. 

Eager to invest in Toronto’s dynamic condo market? As seasoned experts in Toronto real estate, our team would be happy to assist you. Call 416-587-3300 to get in touch or email office@torontoism.com. 

Right now the Toronto real estate market is in a unique position. While once a famously red-hot seller’s market, adjustments to interest rates and other economic factors have reduced the number of active buyers. However, it’s not an outright buyer’s market in the traditional sense of the term. Yes, today’s buyers have far more inventory to select from compared to years past, but average sale prices aren’t yet plummeting in a major way as strong-willed sellers hold steady. 

With all that in mind, buyers who are looking to utilize today’s market conditions to their advantage will need to embrace creativity when placing an offer on a home. The best way to do that? By working with an experienced real estate agent who has the right strategies for today’s market. Let’s dive in. 

Looking to buy real estate in Toronto? You’ll want to work with a locally knowledgeable real estate agent. Visit these blog posts for helpful tips. 

• How to Read Between the Lines of Agent Reviews
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• How Many Real Estate Agents Should You Interview Before Choosing One?

What Makes Today’s Market Unique

The city’s once continuously record-breaking market has balanced out over the last couple of years. Although the market isn’t outright seller-favouring like it used to be, it’s not a free-for-all for buyers either. While today’s buyers do have increased leverage in certain ways, there are still some adversities to navigate. For instance, depending on your personal situation, you could be working with comparatively limited financial resources. While this wouldn’t disqualify you from the opportunity to own a home, you may need to get creative in how you entice sellers with your offer. 

Why Are Some Buyers Holding Out?

In today’s market, many would-be buyers are hesitant to begin their home search because of what they’ve heard about interest rates. That said, the reality of buying a home right now doesn’t exactly align with some of the louder narratives floating around. In fact, today’s lending costs aren’t as unprecedented as many assume, and compared to the past four decades or so, they are more or less average.

Buying a home in Toronto for the first time? Check out these other posts from our blog for helpful tips. 

• 5 Things to Know Before You Buy a Home in Downtown Toronto
• 3 Toronto Neighbourhoods For First-Time Homebuyers
• How to Take Advantage of First-Time Buyer Incentives

Strategies For Standing Out

Making a Personal Connection

Sellers are looking to land a great price on their home, but they also want to see it land in the right hands. With that in mind, one way to make your offer stand out is to make a personal connection with the seller. As an example, consider creating a letter or video expressing your love for the property and detailing how it fits into your vision of a dream home. This may seem simple but tugging at the heartstrings of sellers and connecting on an emotional level can make your offer more memorable and appealing.

Outside-of-the-Box Negotiations

While the financial aspects of your offer are crucial, a creative approach to negotiations can be equally impactful. Instead of solely focusing on the final price, think about what else you can bring to the table. Are there any unique terms or conditions you can offer that might sweeten the deal for the seller?

For example, consider a flexible closing date that aligns with the seller’s needs. If the seller is attached to certain items in the house, be open to negotiating whether they can be included in the sale. By demonstrating flexibility and a willingness to work with the seller’s preferences, you show creativity in your negotiation strategy.

Work With a Creative (and Experienced Agent)

In any market, working with a real estate agent is essential for navigating the buying process. However, given the current state of Toronto real estate, choosing the right agent can make a world of difference. 

As a buyer, the best way to maximize your chances of finding (and landing) your dream home is to work with a creative and experienced professional. An agent who thinks outside the box will explore diverse options, negotiate strategically, and bring a fresh perspective to the home buying process, increasing your chances of success in Toronto’s competitive market.

Want to find the perfect Toronto home for your needs and lifestyle? Silver Burtnick & Associates can help. Call 416-587-3300 or click here to send us an email. 

Are you looking for a new way to check out real estate in Toronto? Downloaded Listed, a new real estate app that lets you work directly with your agent to buy or sell seamlessly. It’s as easy as using Instagram! Download the app via our exclusive link right here.

Canada’s two largest cities, Toronto and Vancouver both have a lot to offer. From unbeatable quality of life and great homes to diverse cultural scenes, amazing amenities and everything in between. 

These two cities have a lot in common, but they’re both distinct in their own way. So if you’re thinking about making the move from one to the other, it’s important to consider the pros and cons of each city and how they may suit your personal needs and plans for the future. 

Overall Feel

One of the most notable differences between Toronto and Vancouver is the overall feel. While both cities certainly have an undeniable urban energy, their general atmospheres do stand out from one another. 

Toronto’s urban density makes it easy to feel the rush of big-city life. On the other hand, If you’re more drawn to outdoor activities and a more relaxed pace of life, Vancouver might be your haven.

Toronto, with its multicultural population, exudes an international feel. There are countless festivals, art galleries, and theatres, making it an ideal destination for those who thrive in a bustling, cosmopolitan environment. Vancouver, on the other hand, boasts a laid-back West Coast vibe, surrounded by stunning natural beauty. 

While there’s something to be said for both dynamics, it’s important to be aware of how each city feels – especially if you’re thinking about relocating. 

Access to Nature & Climate

Along with each city’s distinct feel, Toronto and Vancouver vary in their proximity to nature and year-round climate. 

While Toronto is close to some truly amazing outdoor amenities and provincial parks, Vancouver takes the lead when it comes to proximity to nature. Surrounded by Coastal Mountains and the Pacific Ocean, the city offers ample opportunities for outdoor activities like hiking, skiing, and kayaking. Toronto, while not lacking in parks and recreational spaces, can’t quite match the natural playground that Vancouver provides.

On that note, if you like spending time outdoors, you’ll want to think about climate. Toronto experiences a classic Canadian climate, with hot summers and cold winters. Alternatively, Vancouver enjoys milder temperatures throughout the year, thanks to its coastal location. If you prefer a more temperate climate and are not a fan of extreme cold, Vancouver’s winters might be easier to endure. That said, despite being slightly warmer, winter in Vancouver can be fairly rainy and grey. 

Moving to Toronto and want to get a sense of the city’s unique neighbourhoods? Explore these blogs next. 

• Top 5 Toronto Neighbourhoods For Empty Nesters
• What Are the Best Toronto Neighbourhoods For Cyclists?
• 3 Toronto Neighbourhoods For First-Time Homebuyers

General Costs of Living

Both cities are known for their high cost of real estate, however, it’s not just housing that’s expensive. In both cities, everyday expenses can take a toll on your wallet. In British Columbia, the Provincial Sales Tax, combined with GST adds up to 12%, while Ontario’s HST is 13%.

Getting Around

Another major detail to consider when comparing Toronto and Vancouver is accessibility and getting around town. 

Toronto’s extensive transit system is one of the best in North America. The TTC’s network of buses, subways, and streetcars, makes it relatively easy to navigate the city without a car. Vancouver’s transit system is efficient as well, but the city’s layout can result in longer commute times, especially if you reside in the suburbs. 

Consider your daily commute tolerance and whether you value the convenience of a well-connected transit system. If you own a vehicle and don’t mind driving, either city may work for you. 

Selling your Toronto home and moving west? Check out these blogs for helpful insights. 

• Why Isn’t My Home Selling?
• A Guide to Selling Privately 
• What Canada’s Anti-Flipping Tax Means For Sellers

Real Estate Costs

Toronto and Vancouver are both known for their higher-than-average real estate prices which can be overwhelming for some first-time home buyers. That said, in both cities, condos present a more accessible entry point for those on a tighter budget, while detached homes remain a premium investment. 

Types of Neighbourhoods

Both cities boast diverse neighbourhoods, each with its unique charm. Toronto’s neighbourhoods showcase the cultural mosaic of the city, from the historic Cabbagetown to the trendy Queen Street West and more family-oriented areas like Riverdale, Leslieville, and The Beaches. 

Like Toronto, Vancouver’s community landscape is relatively diverse and dynamic. Neighbourhoods range from the bustling Coal Harbour and trendy Kitsilano to the serene suburbs like West Vancouver and North Vancouver.

Want to find the perfect Toronto home or need help selling? Silver Burtnick & Associates is here for you. Call 416-587-3300 or click here to send us an email. 

Breaking the cycle of renting and buying a home for the first time is an incredible accomplishment. In addition to promising a whole heap of lifestyle advantages, homeownership is an important step in building a solid financial foundation for the future. 

That said, given Toronto’s reputation for high-priced real estate, there are a lot of younger people who worry that breaking into the housing market will be an uphill battle. In reality, today’s buying conditions aren’t as tough as many would-be buyers might think. And, for first-time buyers in particular, there are several government incentives that can make the process of purchasing a home in Toronto even easier. 

In this blog, we’ll cover some of the incentives and tax breaks that first-time home buyers in Toronto can use to their advantage. 

Canadian First-Time Home Buyers’ Incentive

The Canadian First-Time Home Buyers’ Incentive is a program offered by the federal government that aims to alleviate some of the upfront costs of buying a home. With this incentive, the government covers a portion of the downpayment cost for first-time buyers. For traditional resale homes, they’ll cover up to 5% of the downpayment cost and for new construction homes, they’ll cover 5 or 10%. 

While this program does give the government a portion of the home’s equity, recent adjustments have eased the total share of appreciation. As of late 2023, homeowners only pay back up to 8% (not compounded) on the amount claimed from the date of advance to the time of repayment. This allows first-time buyers to hold onto more of their investment as the home appreciates in value long term. 

Who Qualifies?

In addition to being a first-time buyer, there are other rules regarding who can take advantage of this program. 

Eligibility varies by city. In Toronto, this benefit is only available to buyers with a qualifying annual income no greater than $150,000. On top of that, a buyer’s insured mortgage and the incentive amount cannot exceed 4.5 times their annual income. 

Searching for more blogs about how home buying can help you build personal and generational wealth? Check out these posts. 

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• Best Toronto Neighbourhoods to Invest in

Land Transfer Tax Rebates

In addition to the down payment and deposit, one of the larger transaction costs that come with buying a home in Toronto is the Land Transfer Taxes – which come at both a municipal and provincial level. The total expense of these fees can reach close to $10,000 depending on the property. 

That said, most first-time home buyers in Toronto are eligible for a refund on both municipal and provincial land transfer taxes – saving them a sizable amount of money. However, one important detail to note about these rebates is that they’re only available for purchases where each purchaser has not owned property before. Meaning if a couple purchases a home but one spouse has owned a residential property in the past, they will not be eligible for this rebate. 

First-Time Home Buyers’ Tax Credit

Along with the First-Time Home Buyer’s Incentive, the federal government is offering extra relief for first-time buyers come tax season. The First-Time Home Buyers’ Tax Credit offers up to $1,500 in credit to eligible home buyers. While this amount is comparatively modest to some of the other incentives on this list, it’s a small perk that can go a long way. 

Buying a home in Toronto for the first time? Check out these other posts from our blog for helpful tips. 

• 5 Things to Know Before You Buy a Home in Downtown Toronto
• A Condo Buying Guide For Millenials
• 3 Toronto Neighbourhoods For First-Time Homebuyers

A New Perspective on Buying

Along with these helpful government incentives and programs, first-time buyers in Toronto can also benefit from a new perspective on buying in today’s market. While purchasing a home is no small cost, the idea that property ownership is less fiscally feasible for younger buyers isn’t true.

Unfortunately, many would-be buyers are hesitant to begin their home search because of what they’ve heard about contemporary interest rates. However, today’s lending costs aren’t as unprecedented as many assume. In fact, compared to the past four decades or so, today’s mortgage rates are more or less average.

With that in mind, prospective first-time buyers should reframe their perspective on mortgage costs as they look towards their home ownership goals. The sooner buyers get into the market, the sooner they can reap the benefits of buying. 

Want to find the perfect Toronto home for your needs and lifestyle? Silver Burtnick & Associates can help. Call 416-587-3300 or click here to send us an email. 

Are you looking for a new way to check out real estate in Toronto? Downloaded Listed, a new real estate app that lets you work directly with your agent to buy or sell seamlessly. It’s as easy as using Instagram! Download the app via our exclusive link right here.

Located just across the Don River Valley in Toronto’s east end, Riverdale and Leslieville are neighbouring communities that share a lot of traits in common. Along with being exceptional, vibrant neighbourhoods that make a great place to call home, both Riverdale and Leslieville stand out as two of Toronto’s most sought-after communities for families – and for good reason! 

In this blog, we’ll touch on some of the top reasons families are flocking to Riverdale and Leslieville. 

Both Riverdale and Leslieville made our list of the top Toronto neighbourhoods for cyclists. Click here to learn more. 

Riverdale & Leslieville on the Map

For Riverdale and Leslieville, location is a big part of their popularity. Bordered by the Don River Valley and Leslieville to the west and east respectively, Riverdale stretches from Danforth Avenue all the way south to Lake Shore Boulevard. Just east of this neighbourhood, Leslieville expands west to Coxwell Avenue. However, unlike Riverdale, Leslieville’s northern border is formed by Gerrard Street and the southern edge is defined by Eastern Avenue to the south. 

As both Riverdale and Leslieville are nestled just outside of the downtown core, getting into and around the city is a breeze. Whether by car, transit or even by bike or foot, families who call these communities home have nearly every available option for getting around. This, paired with Riverdale and Leslieville’s strong local amenities provides the ultimate degree of convenience. 

Want to know more about Toronto’s dynamic range of neighbourhoods? Explore these other blogs from our site. 

• What Are the Best Toronto Neighbourhoods For Cyclists?
• Top 5 Toronto Neighbourhoods For Empty Nesters
• Great Neighbourhoods For Young Professionals

The Parks & Green Spaces

As two of Toronto’s greenest neighbourhoods, Riverdale and Leslieville boast a plethora of parks and green spaces – providing ample opportunities for families to enjoy the outdoors. The most expansive (and popular) of these parks is Riverdale Park, which is known for its stunning views of the city skyline, tranquil trails along the Don River, toboggan hills, sports facilities, and more. 

In addition to this gem, there are also a handful of dog parks, playgrounds, parkettes, and community centres, sprinkled throughout these neighbourhoods. Whatever the season, families can get outside for some fresh air without travelling far. 

The Homes

Another big reason families love these two neighbourhoods is the homes! Local real estate in Riverdale and Leslieville is fairly similar, offering a range of options for families looking for their first home or dream home. 

When it comes to real estate, Riverdale is known for its mix of heritage homes, quiet residential streets, and an array of architectural styles. As one of Toronto’s oldest residential areas, the neighbourhood comes with a sense of permanence, and many families are attracted to the opportunity to live in a historic, character-filled home. The variety of housing options ensures that there’s something to suit every family’s needs.

Next door In Leslieville, you’ll also find a nice blend of traditional homes – many of which have been upgraded to reflect contemporary tastes. Additionally, you’ll also find a little more diversity when it comes to housing types. Similarly to Riverdale, there are plenty of detached and semi-detached homes, but there is also a range of modern loft-style condos.  

Therefore, the neighbourhood’s versatility caters to a wide range of preferences, whether you’re looking for a cozy family home or a trendy loft with modern amenities. The real estate opportunities in Leslieville make it possible for families to find their ideal living space.

Breaking into the Toronto market for the first time? Check out these other posts from our blog. 

• 5 Things to Know Before You Buy a Home in Downtown Toronto
• A Condo Buying Guide For Millenials
• 3 Toronto Neighbourhoods For First-Time Homebuyers

Easy Access All the Essentials 

As close-knit communities, it’s perhaps no surprise that Riverdale and Leslieville have important amenities within arm’s reach. Therefore families in these two neighbourhoods have essentials like groceries, healthcare, shops, entertainment venues, fitness centres, and more right at their doorstep. 

Should You Buy a Home in Riverdale or Leslieville?

Whether you’re looking for the perfect neighbourhood to raise your family, buy your first home, downsize as an empty nester, or anything in between, we can help! With decades of experience in central Toronto, Silver Burtnick & Associates has the expertise, industry insights, and network to help you turn your real estate dreams into a reality. 

Want to find the perfect Toronto home for your needs and lifestyle? Silver Burtnick & Associates can help. Call 416-587-3300 or click here to send us an email.

Are you looking for a new way to check out real estate in Toronto? Downloaded Listed, a new real estate app that lets you work directly with your agent to buy or sell seamlessly. It’s as easy as using Instagram! Download the app via our exclusive link right here.

As a modern city, Toronto has a healthy population of cyclists – and for good reason! 

With a growing network of bike lanes, safe one-way streets, and other infrastructure, getting around the city by bike is becoming increasingly easier. But in our opinion, what makes Toronto particularly great for cyclists is its neighbourhoods.  

A cyclist-friendly neighbourhood isn’t just about commuting – it’s also about being able to really enjoy what makes that community great. Some of Toronto’s most bikeable areas offer great shopping, dining, cafes, parks, and more. 

Whether you are embracing a completely car-free lifestyle, or simply enjoy the occasional bike ride, you’ll want to consider these Toronto neighbourhoods when you head to the market. 

The Waterfront Communities 

Toronto’s Waterfront Communities are remarkably cyclist-friendly. This area consists of four different residential neighbourhoods along the shore, including the brand-new East Bayfront area.  

Cycling along the 56 km long Martin Goodman Trail provides breathtaking views of Lake Ontario, with its sparkling waters and stunning skyline backdrop. Of course, it will also get you where you need to go efficiently. The dedicated bike lanes and scenic paths make it a perfect spot for both leisurely rides and more intense workouts.

As a bonus, the Waterfront Communities also sit right across from the Toronto Islands. Take a ferry ride from the city and explore the car-free islands by bike. Enjoy the lush greenery, sandy beaches, and picturesque views.

Want to know more about the unique advantages of living in Toronto’s core? Check out these other posts from our blog. 

• Is Purpose-Built Rental Living Right For You?
• 5 Things to Know Before You Buy a Home in Downtown Toronto
• A Condo Buying Guide For Millenials

Cabbagetown

Cabbagetown is a historic and charming neighbourhood in Toronto known for its gorgeous Victorian homes and close-knit community feel. The neighbourhood’s cycling-friendly atmosphere is enhanced by bike lanes along a few of the community’s primary roadways including Sherbourne Street and Gerrard Street. Along with a smooth commute into other areas of Downtown, you can explore hidden gardens, quaint cafes, and enjoy the local boutiques that give the neighbourhood its unique character. Cabbagetown is also home to Jet Fuel Coffee Shop, a local staple with deep ties to Toronto’s cycling community. 

The Annex 

The Annex is a bustling and eclectic neighbourhood popular with residents of all kinds. However, the neighbourhood’s unique location has made it particularly in demand among students, professionals, and young families. As The Annex is located right to the University of Toronto, reaching campus by bike is a breeze. Not to mention, Bloor Street, which runs through The Annex, boasts dedicated bike lanes on both sides, making it a cyclist’s dream. 

Leslieville & Riverdale

Leslieville is known for its artistic flair and trendy atmosphere – and thanks to its bike-friendly streets, it’s becoming a favourite spot for cyclists. The area offers a mix of quaint residential streets and bustling commercial areas, making it easy to navigate and enjoy by bike. With bike lanes along Dundas Street, residents can reach Central Toronto in as little as 15 minutes. 

Just west of Leslieville, the neighbourhood of Riverdale boasts many of the same bike-friendly advantages. Plus, it’s also home to one of the largest green spaces in the city – Riverdale Park which features great bike trails, a skating rink, a swimming pool, tennis courts, a running track, and more. 

Want to know more about Toronto’s dynamic range of neighbourhoods? Explore these other blogs from our site. 

• Top 5 Toronto Neighbourhoods For Empty Nesters
• 3 Toronto Neighbourhoods For First-Time Homebuyers
• Great Neighbourhoods For Young Professionals

Kensington Market

Kensington Market is a cultural hub in Toronto, and it’s best explored by bike. The narrow, bustling streets are filled with eclectic shops, vibrant street art, and mouthwatering food stalls. Cycling through Kensington Market allows you to immerse yourself in the city’s diverse culture. If the neighbourhood’s eclectic energy suits your preferences, it’s also a great area to call home. 

One of the great things about Kensington Market is its proximity to other vibrant neighbourhoods like Chinatown and Little Italy. You can easily explore these areas on your bike, making it a dynamic cycling experience.

Looking Ahead: Yonge-Eglinton

Located in Midtown Toronto, Yonge-Eglinton is a thriving community that’s exceptionally popular with younger buyers. Given the area’s unique degree of walkability and fantastic transit access, it’s already a strong option for buyers seeking a car-free lifestyle. While Yonge-Eglinton does not currently have a formal bike lane infrastructure, recent proposals at City Hall are laying the groundwork for future developments. 

Want to find the perfect Toronto home for your needs and lifestyle? Silver Burtnick & Associates can help. Call 416-587-3300 or click here to send us an email.