Suggestions for Detached Resale Homes

[PIX]

Where is a good place to look for homes that are close to subway in the way of a detached 1 or 2 story home? A good, quiet neighborhood and what price range would I be looking at? Any pre-construction projects available for detached homes in the GTA?

Is it a good idea to look into buying in Spring or should I wait?

 

[js97]

Depends on your budget....

Along the subway and in a good neighbourhood is pretty much everybody's requirement, until they see what's available in their price range..

On the east end (coxwell), you can get homes around 500k-600k... closer to downtown, if you want detached... you're looking min 650+ unless you get on a main street...

So... really all depends on your budget... there are zero deals in T.O. close to subways right now...

 

[Willy Wong]

As js97, says it all depends on your budget and it is all about location, location, location.....there are areas that may not be on the subway line, but are very well serviced by the TTC - Birchcliffe Area. A mix bag of homes anywhere from $300K to million plus and its only a 30 min TTC commute downtown, IMHO

 

[AKS]

I don't think they build detached homes in Toronto for quite awhile. I've mostly noticed semi-detached, townhouses and condos. There's detached built in the 905 area. If it's near the subway line, chances are they're going to be expensive and old if it's a good neighbourhood. If it's cheap, old and close to subway, I doubt you'd want to live in the area.

 

[dlam]

I would personally suggest Yonge-Finch area. Lots of old and new/rebuilt detached (depending how much you want to spend, but the most rundown bungalow would cost you $600k). Close to subway, vibrant street life along Yonge, highly desired schools for children in the area.

 

[vz64]

You can find a decently sized bungalow for $500-600K close to Glancairn station (Spidina line, close to Eglinton W); or even better house around Downsview (not very attractive area... but it is changing rapidly). Yonge and Finch is too expensive unless you look north of Finch. It is also not very diverse, (mostly Korean folks) and not very quiet (Finch subway, TTC terminal, Go station, lots of highrises).

 

[myblissfulhome]

Define Your Needs and Ability To Better Understand What and Where You Can Live

Considering the vast size of Toronto and mixed bag of communities this questions requires more information before we can answer it in full. If you are considering a purchase what is the price point you are able to afford and want to spend? Are there any ethic or community preferences? Pre-construction is hit and miss as you have to pay more upfront and are never guaranteed the final product. We find that most people blindly buy into new construction without any due diligence. Aside from the subway are there any specific requirements for finding a new home?

In terms of timing - the spring and fall are the most active markets historically with plenty of inventory. It is also during these months that buyers sometimes become frustrated with as there are a larger pool of buyers flooding the market. During the slow seasons buyers can find room to negotiate more. However price alone should not be your only consideration. You should also consider the following: mortgage rates, any major family events to work around, if you are leasing your current lease term, is the market priced high and could we expect a reduction in sold prices across the board?

Feel free to contact me via email: info@myblissfulhome.com
or visit us online: myblissfulhome.com

Gian-Piero Furfaro,
Sales Representative
Right At Home Realty Inc. Brokerage
Top Ten Club Award Winner 2010

 

[LordWanker]

I don't think they build detached homes in Toronto for quite awhile.

Oh there are developments available but are very few and far in between. There is one @Burnhamthorpe/Mill Rd area which the lot was owned by the Catholic School Board but it will be pricey.

 

[junctionist]

The Eglinton LRT is essentially going to be a subway line. That means a whole new realm of possible real estate near the subway.

 

[jeff316]

Hillcrest Village, Vaughan Road, Fairbank (north of Eglinton, west of Marlee) are all relatively subway accessible and have single family homes

 

[Eug]

I don't think they build detached homes in Toronto for quite awhile. I've mostly noticed semi-detached, townhouses and condos. There's detached built in the 905 area. If it's near the subway line, chances are they're going to be expensive and old if it's a good neighbourhood. If it's cheap, old and close to subway, I doubt you'd want to live in the area.

Tons of neighbourhoods are getting small bungalows being rebuilt as 2-story detached homes. Some people might consider this better than large swaths of suburban cookie cutter homes. This way you get detached homes in well-established neighbourhoods, and each home is unique from the neighbours'.

905 is fine... unless you happen to work downtown Toronto or close to it. The commutes don't seem bad until you do it every day. A lot of the people I know who lived out in the 905 have moved in closer. I personally moved significantly further out, but then again, I used to live downtown and stayed within the 416, with a 30 minute commute window by car. If I worked in downtown Toronto, I don't think I could hack living anywhere in the 905, even if it was right on the Go train line.

 

[christiesplits]

An interesting area with good transit that is sometimes off the map is the Corso Italia neighbourhood between St. Clair West and Lansdowne/Prospect Cemetery and Rogers Road and Davenport. I don't know the average, but I have seen fixers up in the late 300s, early 400s.

 

[PIX]

OK perhaps close to the subway is a bit too ambitious. How about close to TTC and some shopping? Perhaps some detached, resale homes that are up to 10 years old. I like a Toronto neighborhood with an older, quiet demographic. I purchased condos, a townhome over the last 15 years and in each case I had to sell because it was too noisy an environment.

I think I could go as much as $550K.

Thanks for the input people

 

[jeff316]

YEah if you're willing to get off the subway line, the poster who posted about Corso Italia is correct, it is a good place to start (generally around 450, a bit less if you're out by Caledonia) and if you really want to save money the west end of St Clair West, west of the train tracks is much cheaper. The northwest quadrant of Oakwood-Vaughan also has some reasonable prices and isn't anywhere near as bad as people think it is.

 

[myblissfulhome]

General Sold Stats

YEah if you're willing to get off the subway line, the poster who posted about Corso Italia is correct, it is a good place to start (generally around 450, a bit less if you're out by Caledonia) and if you really want to save money the west end of St Clair West, west of the train tracks is much cheaper. The northwest quadrant of Oakwood-Vaughan also has some reasonable prices and isn't anywhere near as bad as people think it is.

This is a quick break down of sold stats over the past year (or limited to 100 solds) in a couple of the area we have discussed:

Trinity Bellwoods: $670k average
Kensington / China Town $700k
Little Portugal - $580k
Palmerston / Little Italy $700k
Dufferin Grove $575
Caledonia / Fairbank: $350k
Corso Italia / Davenport: $450k
Keelsdale / Eglinton West: $350k
Rockcliffe Smythe: $320k
Oakwood Vaughan: $425k

When you are looking for a home in the $400 range it is best to make sure that the home's condition is taken into consideration as some work could be required.

I would be more than happy to break the areas up further or search other areas for you to get a better idea of.