In today’s market, there’s a good chance your first home won’t be your forever home – and that’s totally ok!
Buying a starter home is a simple way to begin building equity – helping you get to your dream home sooner! And, if you’re looking to find a great starter home, Etobicoke is the best place to start!
Want to know more? Keep reading!
Moving to Toronto from a smaller city in Ontario? You’ll love Etobicoke! Click here to learn more.
Why Etobicoke is Perfect for First-Time Buyers
Tucked away in west Toronto, Etobicoke is a charming and easy-going residential area with plenty to offer. Despite being part of Canada’s largest (and busiest) city, Etobicoke is a relatively quaint, down-to-earth place to live – while still maintaining most of the big city conveniences.
Along with amazing neighbourhoods, lush parks, great school districts, and top-tier amenities, Etobicoke offers nearly every type of home on the market. For first-time buyers, this means having as many options as possible. Whether you’re looking to lay down roots and start a family, or are looking for the perfect pad as a young professional, Etobicoke has something for everyone.
Getting ready to buy your first home? Explore these helpful blog posts before running to the market.
Bungalows
Bungalows are a great option for beginning your journey of home ownership. These charming, single-story homes provide a peaceful and cozy place to live. They’re also fairly affordable, especially when compared to multi-story homes.
Even if your family will need more space in the future, purchasing a bungalow allows you to begin building up equity – which will come in handy when you’re ready to upsize.
On top of the charming home interior, one of the best parts of buying a bungalow in Etobicoke is the extra lot space. Believe it or not, Etobicoke bungalows often sit on larger lots than their multi-story counterparts. This means you’ll have a little extra room in your front and back yard to enjoy. If you’re looking for a home where you can raise a family, or you simply appreciate private outdoor space, this will be a huge bonus.
Want to know more about what to look for when buying an Etobicoke bungalow? Click here to read my blog post on the topic.
Condos & Townhouses
If you’re not quite ready to own a standalone property, buying a condo or townhouse could be a good fit for you. Just like a detached home, these smaller types of properties still allow you to begin building equity. As a tangible asset, a condo or townhome will appreciate in value just like any other home. And, as demand for real estate across the GTA grows, they make a strong investment.
Condos
There are a number of reasons why condos make a great starter home. For instance, condos usually come at a lower price point compared to other types of residential real estate – making them a great option for breaking into the market. Another advantage of condos is that they’re relatively low maintenance. With most upkeep and repairs covered by the condo corporation, you’ll have less on your plate as you transition to homeownership!
Townhouses
If you’re interested in condo living but think you will need a little more space, townhouses make a great alternative. While they share a lot in common with condos, townhouses generally offer an upgrade in size.
Condo Fees
One thing to keep in mind with condos and townhouses is condo fees. While both of these property types are typically more affordable than a standalone home, there are extra expenses to consider.
In addition to your mortgage, condo fees will be a big piece of your monthly housing costs. It’s important to keep this in mind as you build your budget.
Want to know about Etobicoke’s best neighbourhoods? Check out these community guides.
- Long Branch: Etobicoke’s Lakeside Gem
- New Toronto: Bringing Energy to the Lakeshore
- Condo Living in Mimico
Find Your Starter Home
When it comes to real estate, Etobicoke marches to the beat of its own drum. If you’re thinking about buying a home here, you’ll want a local expert by your side – like me!
As a proudly-local Etobicoke agent, I know our unique market inside and out. I have the connections, insights, and inside scoop to help you begin your journey of homeownership. After getting to know you and your family, we’ll work together to find a starter home that fits your needs, budget, and goals for the future.
Ready to find your first home? As a proudly-local South Etobicoke agent, I can help you find the right place to bring your dream to life. Call or text me at 647-239-7587 or send me an email at melissa@southetobicoke.com to get started.
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