We’ve all become a touch obsessed with the lunacy surrounding Toronto’s real estate market, what with home prices rising at exponential rates and affordability being near impossible for the masses.
As average home prices in the GTA sneak closer and closer towards the $1-million mark, we wanted to take a look at what exactly this sum of money could buy in various neighbourhoods.
Got $999,000? A compact condo with two bedrooms and two bathrooms could be yours at 80 John St. in the heart of the Entertainment District. A fairly decent-sized balcony overlooking this prime spot and nine-foot ceilings add a powerful punch.
Alternatively, for $49,100 less, you could bag yourself 700 Centre Road — a five-bedroom, three-bathroom detached house, just 45 minutes down the road in Burlington. With six parking spots. Yes, you heard correctly.
Heading east to 271 Pape Ave., a one-bedroom, two-bathroom, semi-detached property just steps from Queen East and Gerrard is available for a whopping $1,090,000.
In Oakville, you’re paying around the same for a one-bedroom Lake Shore Blvd. condo with gorgeous southwest views of Lake Ontario and the harbour. A wood-burning fireplace, bright solarium, “huge walk-in closet” (um, yes please) and host of building amenities add coveted value.
West in Etobicoke, $995,000 will get you a two-bedroom bungalow at 24 Yorkview Dr. with finished lower level and “zen-like backyard”. If you’re willing to venture just 20 minutes further afield, an extra $4,000 will secure you an additional storey and a further two bedrooms in Mississauga.
If you crave to live amidst the action and on one of the world’s most iconic streets, a contemporary two-bedroom, two-bathroom condo at Aura, 388 Yonge St., will set you back $998,000. A fear of heights will not do, however, as interested parties must enjoy the thought of living among the clouds. This penthouse suite is on the 76th floor of Canada’s tallest condo building. Ten-foot ceilings and unobstructed views of the city and lake? Bring it on.
Toronto’s real estate market is fast and furious, so now is the time to invest — if you can afford it.