Millennials love Toronto and for good reason. A melting pot of diversity, with a thriving culture and a huge presence on the international stage (hello Drake and TIFF!), it’s no wonder it is considered one of the five best cities in the world for this age group. However, buying a home in the city can be a major challenge, with the red-hot real estate market tough to break into if your budget is tight and you need space for a young, growing family. However, there are still some areas well-worth looking into where good deals and thriving communities can be found.
Here are some of the best ones!
Close to downtown and filled with trendy shops and cafes, compared to the rest of the city this area is affordable, with a two-bedroom condo running somewhere around the 600k mark. This makes it a decent place to buy a starter home, although if you need more space, you’ll have to spend much more. That said, this is a great area to invest in, especially with its proximity to the city.
Named by Toronto Life as “the best hope for any non-millionaire looking to own a detached home close to downtown.” While this may be exaggerating things somewhat, the fact remains that Rockcliffe-Smythe is indeed a relatively reasonable area for a family needing more space than a more urban condo would allow, with easy transit access via the city’s well-maintained streetcar line.
Also known as Birch Cliff village, this can be a bit of a commute if you’re using public transit (just under an hour according to Google Maps), but the drive to the city is a reasonable twenty minutes, making this a terrific spot to set down roots that’s still relatively close to the city. Making it especially ideal for families is the fact that the community is considered tight-knit, while the proximity to some of the best school districts in the city makes it even more desirable.
Etobicoke West Mall
A popular neighbourhood for families, with two-thirds of the residents being married couples, while the price of a detached home in this area is pushing a million dollars; it’s still notably cheaper than other parts of the city. The proximity to downtown and the Kipling subway station make this a convenient spot. Families will also love the fact that the neighbourhood is home to the Upscale Sherway Gardens, one of the city’s hottest destination malls, as well as the fact that it’s close to Centennial Park.