How Much Do Toronto Homes Really Cost?

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Selling a home?  Click here for a free home value estimate. 
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Hello everyone, welcome back. Today we're talking about the latest headlines in Toronto that claim the average home in Toronto costs $1 million. Where are these statistics coming from? We're not quite sure, but we do want to provide you with the real average prices in different areas of Toronto, and it should help to explain how people are coming up with that figure.

In West Toronto, from Steeles down to the lake, the average price of a home is $534,157. The highest priced neighborhood in this area is Stonegate Queensway, with an average price of $778,000.
In East Toronto, from Victoria Park to Rouge River, the average price is $512,721. The highest priced neighborhood is South Riverdale, where the average home costs $709,754. 
Finally, in Central Toronto, with Differin to the west, and Victoria Park to the east, the average price is $757,272.

The highest priced neighborhood here is Lawrence Park North, where an average home costs $2,115,887.

We hope this puts a clear perspective on the recent news. While most areas in Toronto are priced well below the $1 million mark, there are neighborhoods, like Lawrence Park North, where the average price is so high, it brings up the averages of the other neighborhoods.

If you have any questions for us, we would be glad to help out. Give us a call or send us an email, and we will be in touch soon.

Some Common Misconceptions About Real Estate

 Buying a home? Click here to search all homes on the MLS 
Selling a home?  Click here for a free home value estimate. 
Call us at (416) 438-2536 for a FREE home buying or selling consultation
Many home buyers and sellers think that real estate agents only want to sell a home as soon as they possibly can, so that they can get paid sooner. While we can't speak for every agent out there, we can say that at the Aldo Udovicic sales team, we want to get you the best possible deal, but on your timeline.

We have a system that allows you to take up to a year to find the perfect property at the best price for your family. We are now selling homes to the 2nd generation of our clients, and our goal is to become your family's Realtor of choice. Your best interest is the only thought that comes into our head as we work with you to get your ideal home or investment property. 

If you are thinking about buying or selling, let us know. We have some helpful tools we'd like to share with you, and can't wait to tell you about them!

How Can You Cut 7 1/2 Years Off Your Mortgage?

Buying a home? Click here to search all homes on the MLS
Selling a home?  Click here for a free home value estimate. 
Call us at (416) 438-2536 for a FREE home buying or selling consultation

 

Today we want to talk to you about mortgages. More specifically, we are going to talk about mortgage payments, and how you can pay more of your mortgage off in less time. 

Over the years, we have found that there is a way to pay your mortgage off much sooner, without putting extra financial burdens upon yourself. The way to do this is by making bi-weekly payments. While you are paying your mortgage twice as often, you are paying half as much. If you make these 26 payments a year, you will be making an extra payment without even noticing it, in your head or in your wallet.

If you make biweekly mortgage payments on a 25-year mortgage, you can actually have the sum payed off in 7 1/2 years, without doing much extra work to get there. 

This is a great strategy that we encourage our clients to adopt. It makes financial sense, and doesn't put any more of a burden on you. In fact, it takes a lot of the burden off of your plate, about 7 1/2 years to be exact.

If you're waiting for the market to stabilize, you have been waiting too long. We don't know how long interest rates will stay where they are, but we do know they are historically low right now. Locking in a low rate around 4% today will not only give you more purchasing power in the present, but will save you thousands of dollars in interest over the years.

We are always looking to give you a helping hand in the Toronto real estate market. If you have any questions for us at all, don't hesitate to reach out and give us a call. We would be delighted to help.