Mike Kelly – Realtor at Real Broker Ontario Ltd.
Buying a home in Toronto can be quite the adventure, and understanding the different property types is crucial to making the right choice. Here’s a breakdown of the main property types you’ll encounter:
Condo Apartments: These are single units within a larger building, complete with shared amenities like gyms and pools. Maintenance fees cover these shared spaces and services, making them an appealing option for those who want less upkeep.
Condo Townhomes: These multi-level units offer a ground floor entry and might be attached to neighbors on one or both sides. Unlike freehold properties, these belong to a condo corporation and have maintenance fees that usually cover services like snow removal and lawn care.
Freehold Townhomes: Here, you own the property entirely and are responsible for all maintenance and repairs. These homes share walls with neighbors but don’t have the monthly maintenance fees.
Semi-Detached Homes: These homes share a single wall with another home, offering more privacy than townhomes. They provide more windows and space than attached properties, making them a step closer to fully detached homes.
Detached Homes: The dream for many, these homes stand alone without shared walls, providing maximum privacy and space. They are typically the most expensive but are highly desired for their autonomy and potential for higher appreciation.
Knowing these property types and what each offers can help you determine what fits your lifestyle and budget. If you need more tailored advice or data on current market prices for these property types in your preferred neighbourhoods, reaching out to a local realtor can provide invaluable insights and help streamline your home-buying process.
E. mike@mjkrealty.ca
M. 905-391-0024 IG. @mike.j.kelly