These 5 Spots Are The Most Affordable Places To Buy A Home In The GTA
Buying a home in these locations might help you keep your savings on track.
Are you giving up on Toronto's real estate market and turning your tired Millennial eyes to the GTA as a whole? Well, these spots are your best shot at maximizing your savings on a starter home.
According to Zoocasa's January report, Brock, Oshawa, Orangeville, Essa, and Scugog are currently the most affordable places within the GTA to buy a detached home.
Brock, in particular, offers significant savings compared to the 6ix, thanks to its average house price of $774,500, which is half the cost of the region's average.
However, like most things, this city's incredible discount comes with a catch — the distance factor.
"Brock is located in the Toronto Region’s farthest north reaches, and nearly borders Lake Simcoe. In good traffic conditions, you can reach Union Station by car in a little over an hour and a quarter," an excerpt from the report reads.
The second cheapest option is Oshawa and it features quite the price bump of an average home, which is priced at around $964,097. But, it offers much easier access to other parts of the GTA, especially for anyone looking to commute into Toronto.
The city also offers the most affordable option for those looking to invest in a condo apartment, selling for an average of $381,795, and it'll feel a lot more connected to the "Big Smoke."
"Oshawa is considerably larger and more connected. With a population of 170,071, you'll find more big-city amenities than what's offered in Orangeville and Brock," the reports add. "When it comes to your commute, you can make it downtown in 45 minutes by car in good traffic conditions."