The Buying Process Step 6 : Understanding the Different Property Types

Toronto: a variety of housing styles

From towering condominium skyscrapers to sturdy bungalows, Toronto’s housing stock is amongst the most diverse in the world, giving home buyers virtually limitless options when looking for a home to call their own. Almost every neighbourhood in the city offers a variety of housing styles and a choice between existing, new construction, or renovated homes. Here is a brief rundown of the various types of residences you’re most likely to encounter during a home search in Toronto:

Single-Family Homes

Officially defined as a residential structure that includes only one dwelling, single-family homes are readily available in most of Toronto’s neighbourhoods. Buyers should be prepared to pay a premium for the extra land, privacy, square footage, and outdoor space a single-family home affords. The variety of single-family homes in Toronto is vast and includes bungalows, detached, semi-detached, row homes, modern homes, town homes, and multi-million dollar mansions.

Condominiums

Purchasing a condominium in a multi-unit building means that the buyer owns an individual unit as well as a share of the building’s common areas, such as the lobby, corridors, and amenity areas. Many buyers choose condominiums because they require little maintenance, frequently offer amenities such as a swimming pool or fitness centre, and in most cases are relatively affordable compared to town homes or single-family homes.

Because of the shared ownership, a condominium association is responsible for decisions regarding the operations of the building and owners must abide by the rules and regulations set forth by the association. Condominium owners also pay monthly assessments which cover maintenance and repairs of common areas as well as costs associated with shared amenities.

In Toronto, condominiums run the gamut from new construction high-rises with striking views and luxury amenities to vintage walk-up buildings with charming elements such as original hardwood floors and built-ins.

Green Toronto

Thinking of living Green?

Here are some considerations:

  • A location near public transit
  • Building materials containing recycled content
  • Renewable energy sources such as solar power
  • Energy-efficient windows, appliances, and heating and cooling systems
  • Plumbing fixtures that reduce overall water usage
  • Rapidly renewing or recycled materials for interior finishes, such as bamboo flooring, wool carpet, and countertops made from recycled metal or glass
  • Low-VOC (volatile organic compound) paints, carpet adhesives, and sealants which limit emission of volatile organic compounds and thereby promote a healthier indoor environment
  • Native vegetation in landscaped areas or on a green roof
  • A landscape irrigation system that recycles rainwater
  • Facilities for storage and collection of recyclables

If green features are important to you, talk to your Sage Real Estate agent. We’ll help you find a housing option that fits your needs.

 

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