How much does it cost to buy a 3 bedroom in Toronto

How much does it cost to buy a 3 bedroom in Toronto

Not sure if you are talking about a condo, townhouse or a house so will tell you ALL of them.In last 3 years I transacted in 4 BUY/SELL so I can say I fairly understand the prices.But a word of caution, due to recent and frequent rule changes around mortgage approval to tighten the housing market, the prices dwindled a bit in pockets but not all areas.

Condo – This size new condo will touch 1M if bought in downtown.If you move a bit far (30–45 kms) or older property, you can get it for 450K-600K.Townhouse – These are surprisingly costlier, at times more than detached houses.

Again depending on the area, you can get it for 650K-1M+ House – These are most sought after as there aren’t a lot available.There is none to very few in core downtown.I live in East York (30 mins commute by TTC) and is a respectable & safe neighbourhood.

I paid $825K last year during peak for a 2 bedrooms detached bunglow.Now the kind of mine will go for more than 1M+.There weren’t a drastic price correction due to rule changes, as the area is good and reasonably close to work with excellent public transportation.

Coming to point, you can get a house anything between $550-$2M depending on area, lot size, schools etc.Trust me there are tons of variables and unless you start looking yourself, nobody can give you a straight answer.There are additional cost (but not hidden) which I am not getting into as you didn’t asked.

I assume you know well about them.Areas I would suggest if are fine commuting up to an hour – East York, Markham, Scarborough, Ajax, Malton, Mississauga.Except East York, none of them falls under Toronto but commute will be less than an hour and you can get a place less than $1M.

You should also take advantage of this wonderful site Real Estate Listings and New Homes for Sale on which you can apply your criteria and get daily updates on listing.

Some place between $5,680,000 [1 St Thomas St, Toronto – C3795285] and $143,900 [4709 Jane St, Toronto – W3903743] depending on what you want.

One of the many websites which seems like it can give you a more accurate and timely answer to your question is Real Estate | RealEstateBay.ca (no, I don’t work for them and they don’t pay me anything for mentioning them) but I don’t vouch for them at all since the first time I visited their website was when I answered your question.

Does the link help you out any?