In the wake of 2018 and on the heels of the spring market, we’ve priced out the cost to buy a semi-detached home in Toronto. If you’ve been thinking about upgrading your current living situation, or are just looking to buy, let this be a guide to help you find the best neighbourhood to buy a semi-detached home for your budget.
For those who are looking for a bit of extra space and are tired of condo-life, semi-detached homes are the house of choice for those looking to upgrade. We looked at the 2018 sales of semi-detached homes with two bedrooms and two bathrooms across the city so that you have an idea of what the average price is per neighbourhood.
It’s worth mentioning that the number of home sales across the city in all home types were down compared to the wild and crazy real estate year that was 2017. As a result, the neighbourhoods we’re featuring had to have had at least two sales in 2018 that fit our two bed two bath semi criteria.
You can see the Cost to Buy and Own a 3 bed/2 bath Semi Across Toronto here
THE COST TO BUY A 2 BED/2BATH SEMI-DETACHED HOME IN TORONTO
Based on sales January 2018-December 2018 according to Bungol.ca
Take note of the number of sales the average semi-detached home price is based on. For a move-in ready home, you’ll likely pay more than the average price listed.
THE COST TO BUY AND OWN A SEMI-DETACHED HOUSE IN TORONTO
Below, we present to you the cost to buy a semi in each neighbourhood, in other words, your total monies owed to close that property. This breaks down as such:
• 20% down payment
• Land Transfer Tax owed
• $2,000 in legal fees
We also present to you the monthly cost to own that semi-detached home in each neighbourhood. The monthly expenses are based on a 5 year fixed rate mortgage of 3.29% over 25 year amortization. We’ve based the taxes as per the current Property Tax Rate (divided by 12 months).