As some of you know, we are trying to move to Toronto to be closer to family. We are looking for a condominium, townhouse, or house with 2 bedrooms plus a den or 3 bedrooms. We want to be fairly central within the square bounded by the Don Valley Parkway, the 401, the 427, and Lake Ontario (big area). The ideal place would have:
- At least 1400 sq feet of living space, a locker, and one parking space
- Nice building or house, no obvious immediate maintenance needed like a new roof.
- Nice neighborhood.
- Updated or recent flooring, bathrooms, and kitchen.
- Decent closet and kitchen cupboard space, enough to have a pantry, a linen closet, and one large clothes closet.
- Pleasing layout, no crazy angles or funny solariums turned into bedrooms or dens.
- Close to the subway.
- Close to shopping (walking distance).
- All living areas on one or two floors i.e. a townhouse would have the master bedroom, kitchen, living room, dining room on two floors, not three.
- A nice view of the city, lake, or something else. Do not want to look at the 6 different kinds of recycling bins of the neighbour or a brick wall.
- Maintenance fees under $1200 if a condominium apartment or townhouse.
In terms of a house, you might get three (3) of these features for a million dollars. Most likely, you would get a small old 1800 sq ft bungalow in a decent neighborhood that needs a lot of work, and the shopping requires a drive. You would have to win a bidding war to get the tired old house. We have "been there, done that" with our first house in Barrhaven Ottawa, not going to do it again.
In terms of a townhouse, you might get six or seven of these features for a million dollars. Most likely, you would get a small older unit in a good neighborhood and the shopping requires a drive. However, these units are as scarce as Toronto Maple Leaf playoff games. Most townhouses have the master bedroom on the third floor with lots of stairs.
In terms of a condo, you might get eight or nine of these features for a million dollars. Most likely, you would get 1500 sq ft in a decent building, close to shopping and subway, but no view and a high maintenance fee. This is our most promising alternative.
- $1,000,000 does not buy much in Toronto
- As usual in Canada, a price of $1,000,000 means you pay more because there is a "welcome suckers to Ontario and Toronto" tax of $32,200 making the total $1,032,200.