Buying your own home is an exciting rite of passage, and it’s one of the biggest purchases you’re likely to make in your entire life. When it comes to buying a house in Toronto, it’s easy to see the allure. Close proximity to some of the best sports, cultural, and business activities in the province make this city a house hunter’s dream.
You’re also not too far from major airports, world-class hospitals, and the beautiful Lake Ontario. Like other big cities across Canada, the purchase price of homes in Toronto continues to rise. Despite the number of home sales being down in 2022, the average price of a home in Toronto was still more than $1 million, and up from the previous year. Population growth has slowed slightly over the years, but growth is still happening.
Toronto is a great place to live, so it’s not surprising that people want to call the city home. Public transit makes it easy to get around the city and the Greater Toronto Area (GTA) without the need for a vehicle, and city services are quite competitive to other major centres.