5 Houses You Can Still Buy In Toronto For Under $800K & Only One Is A Total Gongshow
Wait until you see the other ones!
Since, according to the latest data, the average price of a Toronto home is now a dream-denying $1.1 million, we thought we'd be the first to inform you that, you will, in fact, never own anything. Just kidding, there's always hope. Even if just a tiny sliver.
The Toronto real estate brokerage, Strata, recently plucked five "affordable" abodes out of that old endless money hole we call Toronto's real estate market and four of them actually seem completely liveable. The last one, well, could use a little TLC.
Intrigued, we decided to look into the listings ourselves, mostly just to see the pictures, but also to see how such seemingly lucrative properties were selling for under $800K in a real estate landscape where great parking lots sell for six figures.
We've included brief, if not somewhat jaded, descriptions of each of these homes for sale in Toronto below!
16 Parker Avenue
A photo of 16 Parker Avenue.
Details: Nestled in Queensway Village, this home's unexpectedly charming exterior screams "Quick, buy me before they start asking for millions."
Its interior features an open-concept living and dining area that has plenty of natural light. The home is also only one floor, making it the perfect option for people tired of stairs.
In the main bedroom, a standout feature is a custom mirrored wardrobe that also helps make the room look slightly bigger than it actually is.
The fully-fenced backyard boasts a large deck, a brick fire pit, and two sheds for storage.
223 Craven Road
The living room of 223 Craven Road.
Details: Craving for Craven? This adorable starter home is located smack-dab in the heart of Leslieville, making it perfect for anyone who loves a great weekend market, beach trip or getting some food and drink with Queen St. E restaurants just steps away.
The house is freshly painted — so, there's one thing you won't have to do. The main floor is also more than spacious enough to host friends and family. Plus, the skylight in the living room allows one to keep their Vitamin D levels up, even if they'd rather stay inside.
215 Andona Crescent
The dining area of 215 Andona Crescent.
Details: Nestled between the arms of Rouge Valley and Adam's Park, this charming 3-bedroom, 2-bathroom home could be your ticket to living that Toronto high life without paying full price for it.
It's got a kitchen big enough to host your entire family and a primary bedroom that screams "I've got my life together, and I am glowing."
And if you like convenience, this place is the cat's meow. With the TTC, Rouge Hill GO station, and a smorgasbord of shops closer than a 'skip and a hop,' you'll spend less time commuting and more time vibing.
58 Miranda Avenue
The exterior of 58 Miranda Avenue.
Details: Looking to make your HGTV dreams a reality? This charming, detached, renovated home in Briar Hill is the stuff of Pinterest boards. With nine-foot ceilings on the main floor and an open-concept floor plan, you'll feel like you're living inside a dollhouse, in a totally non-creepy way.
The modern kitchen screams 'MasterChef', and there's even a separate entrance to a finished basement with a large rec room, an additional bedroom, and a study. An in-law suite or income potential? The choice is yours.
46 Pritchard Avenue
The fixer-upper interior of 46 Pritchard Avenue.
Details: And now, for the grand finale! 46 Pritchard Avenue, an $800K home that currently looks like an old's squatters' den.
But! If you're a real handy person or a rock-solid compromiser this could be your next ego-boosting project. You might look at those slowly deteriorating walls and think to yourself "We can just paint over that," and all the power to you. On the bright side! This home's location is quite ideal as it sits within walking distance of Toronto's happening Junction neighbourhood.
Well, there you have it! A list of homes that are probably still out of your budget, but you scrolled through them anyway because you're an optimist at heart. Who knows maybe one day, you'll win the lottery.
Narcity crunched the numbers using Dollar Time's handy-dandy mortgage calculator and found out something interesting. To comfortably swing the mortgage on an $800,000 house, assuming you've got a cool $160,000 for a down payment, you'd need an annual income before tax of around $119,371. That works out to a monthly mortgage payment of $2,785.
Just for a bit of perspective, Statistics Canada reports that the average yearly earnings for a Canadian are around $59,059.