Investing in a house to live in is not only a long-term investment but it also has an emotional value attached to it. It is more than a basic need; we think of it as a part of our future, a place to mark our milestones and to make happy memories.
In a sector like real estate in which everyone you know might have a fair share of experience, you could be bombarded with their ‘2 cents’ of advice. Also, the added pressure of choosing the right locality, a trustworthy realtor and the financial aspects such as investment benefits, mortgage rates, loan repayments, etc can pushback the happiness of owning a place.
Well, there is no harm in getting opinions and advice but the best way is to do your own research and having a holistic approach towards investing because as we said before, a house is going to be a part of your future.
If you are planning to buy a housing property in GTA, here are some insights on the latest trends and the most happening places which can help you to make an informed decision.
Firstly, let’s see why Toronto is the right place for you to invest. Toronto is ranked 1st as the fast selling real estate market, a listed property stays in the market on an average of just 16 days. It is the 5th fastest growing economy as well.
We cannot deny the fact that the mortgage rates are increasing in the past few years which reflects in the fall of real estate investments; Nevertheless, the increase in the immigrant population, better quality of life, lesser unemployment (5%) and the tourist population from all over the world are keeping the GTA’s economy stable. Which in turn increases the demand for housing and makes Toronto one of the places to look out for while investing in real estate.
Also, this year’s real estate market is considered the ‘Buyer’s market’ with a steady interest rate. With the influx of millennials, immigrants and first-time buyer showing interest in buying a property, the market is a mix of housing from townhouses to luxury condos.
Toronto being one of the most desired cities to settle in, there is no doubt that the housings here are a class apart. But the major change that is happening recently is the need for technology incorporated housing. Be it a basic tech-enabled security system in place or a much advanced, AI-based, motion sensors, voice commands, the buyers are looking for technologically updated housings and ready to invest more for such houses. The builders are understanding this demand and are readily meeting this need but it will take a while for the majority of the housing to be tech-enabled.
Now that we have established why Toronto is the right place for you to invest in real estate, here are the most happening localities for you to consider,
Aurora, a progressing municipality is ranked as one of the top places to live in Canada. Aurora has a good mix of traditional country style housing and modern town-houses. The lifestyle here mostly of calm living with picturesque landscapes and green trails but you do have places for a happening nightlife.
The town has a good commute system in place with Aurora Go transit and public transportation in all localities.
The prestigious St. Andrew’s college & private school is also located here which makes it a perfect place for families with children.
Vaughan was rated one of the best places to live in 2018 by MoneySense Magazine. With the lowest tax rates in GTA, Vaughan is considered as a place for everyone. The various modes of commute such as VIVA, the local transit system, and the TTC connect to Toronto effortlessly making Vaughan a perfect place for young professionals. The seniors & retired people prefer Vaughan for its leading health and wellness facilities.
Access to a good education with a plethora of parks and green spaces makes Vaughan an ideal locality for families. There are luxury condos to invest, also value for money properties for first-time buyers. Yes, as we said, Vaughan is a place for everyone.
Brampton is a fast-growing place, ranked as the 9th largest municipality in Canada. If you have an affinity towards theaters, galleries, museums, and old-style Victorian houses, Brampton is the place for you to consider.
However, there are newly developed areas as well with modern housings. With a well-serving commute system (Brampton Transit, Zum, and MiWay buses) people are preferring to settle in Brampton and commute to nearby places for work and business.
Mississauga is one of the oldest areas which used to be a parcel of small villages later developed into a city. It has a good mix of historic places and suburban developments. You can find traditional post-war cottage homes here.
With a well-planned neighborhood along rivers and park trails, Mississauga is a perfect place for a family.
Fondly called as the ‘High-Tech Capital’ of Canada, Markham houses more than 900 tech companies including Apple, IBM Toshiba, etc. It is Canada’s 16th largest city and still thriving. The famous Markham-Stouffville Hospital is situated here.
The housing developments here not only meet the demands of families but also first-time buyers. You can find antique shops, small clothing stores on one side and vast shopping centers on the other side.
Markham has a good commute system in place through York Region Transit, the Viva Express Lines, GO Train and Go Bus.
We hope this article on recent real estate trends in GTA was useful for you. For more such updates, keep following our blog.