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Many Buyers want to live in Toronto. There are countless reasons for this. There is employment and exciting job opportunities, there are cultural reasons. Toronto sees the Lions share of immigration into Canada. There are many reasons why people both domestic and newly immigrated choose to live in Toronto. Toronto has a variety of neighbourhoods.
Situated on the shores of Lake Ontario, Toronto is the most populous city in Canada and the fourth most populous city in North America. The city is the anchor of the Golden Horseshoe, an urban population of 9 Million people surrounding the western end of Lake Ontario. The Greater Toronto Area proper has a population of over six Million, and continues to attract both domestic and international newcomers. As a result, Toronto is home to some of the nation’s – and the world’s – most expensive real estate
Toronto is an international centre of business, finance, arts, and culture, and is recognized as one of the most multicultural, vibrant, and cosmopolitan cities in the world.
The diverse population of Toronto reflects its current and historical role as an important destination for immigrants to Canada. Over 160 languages are spoken in the city. A study by Ryerson University showed that Toronto was the fastest-growing city in North America, largely attributed to international migration to Toronto.
What makes Toronto so special? Toronto has many public spaces, from city squares to public parks, including the waterfront, and an extensive system of ravines. Some of the more prominent green spaces include Ontario Place, Tommy Thompson Nature Reserve, High Park, the Toronto Islands, and part of the Rouge National Urban Park.
Toronto is the Financial capital of Canada. It is the headquarters of Canada’s five largest banks, and of many large Canadian and multinational corporations, as well as the home of the Toronto Stock Exchange. The highly diversified economy is represented in financial services, life sciences, education, arts, fashion, design, science and technology, aerospace, food and entertainment, and tourism. All of this translates to jobs from entry level to senior positions.
Toronto is a prominent centre for music, theatre, motion picture production, and television production, and is home to the headquarters of Canada’s major national broadcast networks and media outlets. Its varied cultural institutions include museums and galleries, festivals and public events, entertainment districts, national historic sites, and sports activities.
Toronto attracts a diverse population, and they are looking for a diverse selection of homes as Buyers. This is incredibly good news for Toronto Downsizers as there is a Buyer for every home style and price point.
Transitions In Life
One of our more recent transitions involved a homeowner with a Victorian semi-detached house in the heart of old Toronto. Although the home showed beautifully and had been well-maintained, the Downsizer homeowner wanted a simpler life. The responsibilities of owning a century home were no longer in her future. Following our marketing strategy, the home sold quickly with multiple offers; this homeowner made the decision to stay in this vibrant downtown location and to relocate to a nearby rental condo without having to give up any of the lifestyle pursuits they enjoyed.
Not all downsizing decisions result in Selling and Buying. Some decide that home ownership is no longer an option for them, and they decide to “cash out” of the lucrative Toronto market in favour of a rental choice. In Toronto we have a selection of older dedicated Lease buildings as well as some new modern dedicated Lease buildings with more under construction. And of course, there is a vast number of individual landlords providing a large rental pool of condo units. This seller selected a nearby condo location and rents from an owner who is currently overseas for work. It was the perfect solution for her.
Next Steps
We offer a FREE consultation for Downsizing your home in Toronto. We will explore your options after a discussion of your transition goals as well as talking about things like buying first vs selling first and the importance of preparation of your home for sale and more.
