Toronto Real Estate: Finding the Perfect Neighbourhood for the First-Time Home Buyer

You have decided to take the leap into becomingor needing more space? Consider one of the
a homeowner. You've done your homework, youtraditional East York bungalows, and then have
can recite the CMHC fee schedule, you canone of the rapid renovation companies that
calculate land transfer tax in your head, and youspecialize in "topping-up" bungalows add a second
have even bought the DVD box set of Flip thisfloor when you need it. (This is also a respectable
House.way to add value to your investment; some of
But what about choosing a neighbourhood?these topped-up bungalows are fetching
While personal considerations such as living close$500-600,000 on resale).
to family (or keeping a comfortable distance fromEast York Real Estate Values: While some semis
them) may limit your selection to only a fewand small detached homes can be found for as
Toronto neighbourhoods, there are otherwiselow as the $250-300,000 range, a much greater
over two hundred communities across the cityselection is between $300-400,000.
from which to choose. Here is a sampling ofHarbourfront
some of the more popular neighbourhoods forWho said that just because you are a first time
first time home buyers:homebuyer, you can't have a view of the water
Riverdale and Danforth Villageand be right in downtown Toronto? While you
From Broadview to Woodbine, straddling the firstcan't expect a sprawling Harbourfront condo
few streets on either side of the Danforth, andpenthouse for under $200,000, there are
Danforth Village combine to offer a selection ofbachelors and junior one-bedroom units in
stylish entry-level character homes. Perfect forcontemporary buildings with excellent facilities that
the young urban dweller with a disdain for thesell for as little as $180,000. In addition to building
uniformity of suburbia, this area offers convenientamenities, you have Harboufront's cultural
subway access, cool Danforth dining and shopping,attractions and Lake Ontario's outdoor activities
and a range of prices for every budget. Riverdaleoutside your door, with streetcars and the
is superb both for finding homes with great bonesdowntown only steps away.
for the ambitious do-it-yourselfer, and findingDavisville Village
magazine-quality renos for those you want toRight in the middle of the city, Davisville Village
just move in and impress their friends.offers some of the best-priced housing options
Riverdale and Danforth Village Real Estate Values:within the desirable Yonge Street corridor.
Entry-level Danforth Village homes range fromOffering the convenience of a brief subway ride
$250-400,000 while entry Riverdale homes rangeto downtown, Yonge St. shopping, and loads of
from $400,000-550,000.fun restaurants and pubs, Davisville Village has
East Yorkbeen attracting young buyers looking for their
The portion of East York spanning from thefirst home or condo. The hoards of singles in their
Danforth north to O'Connor Drive offers some oftwenties and thirties who reside in the numerous
the best value in all of Toronto. It is still possiblecondos near Yonge and Eglinton are what have
to find homes for under $325,000 that are onearned the neighbourhood the moniker of Young
quiet streets, are close to the subway, and thatand Eligible.
don't give you an icky feeling when you stepDavisville Real Estate Values: Entry-level
inside. The author can personally attest that Eastcondominiums have been recently selling from
York is a very pleasant place to live, as it isclose to $200k, while semi-detached homes start
where she bought her first two homes!at around $400,000.
Thinking about eventually either having a family,