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9 Houses Over $1 Million That Show Just How Expensive Toronto Really Is (PHOTOS)

You might want to start saving.
Toronto Staff Writer
Toronto Homes Worth Over $1 Million Show Just How Expensive Toronto Really Is

Most of us reach a point in our lives where we want to start looking into buying a home. It’s a big step, and if you live in the GTA, it's also an expensive one. City homeowners face a frustrating reality when it comes to the real estate market where many can be paying over a million dollars for a home that most would consider average. These Toronto homes worth over $1 million show just how expensive the city really is. 

Zoocasa reported back in September that it would take the average Torontonian a whopping 32 years of saving to put a down payment on a home in the GTA.

So, if you were thinking about being a young homeowner you might want to start saving now. 

In 2019, the average price of a Toronto home was $802,400, which means you would need to make a down payment of at least $502,226.

The study also discovered that residents of the GTA spend an extra seven years to purchase a house compared to the average 25 years it takes to own a home in Canada officially.

To give you a more detailed look into just how expensive homeownership has become in Toronto, here's a look at homes that are currently selling for over $1 million, and they are nowhere close to a mansion. 

4-Bedroom Mississauga Home 

Price: $1,989,000

Address: 68 Maplewood Rd., Mississauga, ON

Description: This quaint family-friendly house has a lot of good things going for it. However, for its price tag, you'd think it would be twice as big and luxurious.

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Tiny Brampton Cottage

Price: $1,150,000

Address: 26 Golf View Dr., Brampton, ON

Description: If you were walking by this adorable little family house, you'd probably never guess it was worth over a million dollars.

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3-Bedroom Halton Hills Home

Price: $1,099,000

Address: 8583 8 Ln., Halton Hills, ON

Description: The price of this family home is no small fare for a million-dollar home that is cozy, but far from luxurious.

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Woodsey Hamilton Home

Price: $1,325,000

Address: 1346 Brock Rd., Hamilton, ON

Description: This house is a little bigger than the other homes, but its size does little to shake off the shock of what a down payment on it would be on it.

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Caledon Bungalow 

Price: $1,499,000

Address: 14394 Bramela Rd., Caledon, ON

Description: This narrow starter house has plenty of space. It would be great for any young couple looking to start a family if it wasn't so expensive.

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Tiny Richmond Hill Home

Price: $1,098,888

Address: 354 Wenlock Ave., Richmond Hill, ON

Description: This super small Richmond Hill has the charm, but not the affordable price tag.

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Markham Bungalow 

Price: $1,588,000

Address: 26 Springdale St., Markham, ON

Description: This place is described as a "hidden gem" it comes with a hot tub and a sizeable backyard. It's a nice place, even if you have to save up a hefty down payment.

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Markham 3-Bedroom 

Price: $1,188,000

Address: 7624 Reesor Rd., Markham, ON

Description: This house has a surprisingly vintage feel, but not the vintage price.

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Mississauga Family Home 

Price: $1,079,000

Address: 333 Nahani Way, Mississauga, ON

Description: This is probably the nicest looking house on the list. Its interior is super modern, and it has a lot to offer, sadly it's still going to break your bank.

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