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Top Neighborhoods In Downtown Toronto For First Time Home Buyers

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Toronto is a costly city to invest in real estate. But here we have listed the top neighborhoods in downtown Toronto for a first-time homebuyer to invest. Keep reading to find more

Neighborhoods In Downtown Toronto

Source: Pexels

Toronto is Canada’s most urbanized and cosmopolitan city. It is the second most expensive city to live in Canada, according to Mercer’s annual Cost of Living Survey.

Even if the city is expensive, there are many communities where you can live on a budget. Those areas also offer a great deal of potential for real estate development. Read on to know about the most well-known neighborhoods in downtown Toronto where you can buy a home.

The Annex

Surrounding the University of Toronto, it is home to students, academicians, and aspiring artists. It is a beautiful place to live because of the picturesque historical buildings, the Royal Ontario Museum, and many modern cafes. The neighborhood is lined with Victorian and Edwardian houses and mansions. Some of these houses have been rebuilt. The Annex is a fantastic spot to buy a historical building and renovate it. You can also rent out the space to students who are seeking a short-term rental.

Roncesvalles

The borough of Roncesvalles is in Toronto, Ontario, Canada. The place radiates the beauty of a tiny European village. Named after Roncesvalles Avenue, the place offers excellent convenience and a homely vibe. In the quiet residential area, there are detached and semi-detached single-family homes. It is one of the best places for young families to live. It is an excellent location for aspiring homebuyers who want to buy an old house and keep historical homes’ appeal while modernizing them.

Neighborhoods In Downtown Toronto
Source: Pexels

Kensington Market

In Downtown Toronto, Kensington Market is a culturally diverse neighborhood. Kensington is bordered on the north by College St., the east by Spadina Ave., the south by Dundas St. W., and the west by Bathurst St. It is designated a National Historic Site of Canada. It has a countryside vibe to it, with a range of diverse specialty restaurants and stores. The most frequent form of housing in Kensington is a low-rise building. And most of the houses are dated before the 1980s.

Regent Park

The city has developed urban planning and real estate scenes. Well, it is an excellent place for professionals and families to call home. It is one of Toronto’s most sought-after neighborhoods. And is ideal for ones seeking quick access to the city’s urban core. It is an attractive spot to live, thanks to the sophisticated and constructed neighborhood of townhouses.

CityPlace

It is a modern-day suburb in downtown Toronto with outstanding residential projects. CityPlace is surrounded on the west by Bathurst Street, on the south by Lake Shore Boulevard, on the north by Front Street, and on the east by Blue Jays Way and the Rogers Centre. When finished, the region will be the largest residential project in Toronto’s history.

Are you looking for an affordable place to live in GTA? Read ‘Affordable Housing in Toronto and GTA’ to find out more.

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