New Condos Etobicoke
Why Should You Invest In Etobicoke Real Estate?
The City of Etobicoke is an important part of the Greater Toronto Area. It sits on the junction of Lake Ontario and Lake Huron. Residents and tourists alike enjoy the scenery provided from this location, as visitors can see both lakes at once. Residents also enjoy the beauty of the Greenbelt, an expanse of forested land that features walking and biking trails.
Investing in real estate in Etobicoke provides people the chance to live in a great location and raise a family. People that come to Etobicoke want to stay, which is why the population has remained steady for years. The value of homes and condos is increasing, which means it is now a good investment opportunity. Here are some reasons why you should buy into Etobicoke real estate.
Etobicoke is also a great place to live in, with lots to do and see all year round. The area has many parks, with some totaling more than 1,000 acres! There’s always something going on in Etobicoke too: festivals take place year-round with street parties in summertime that make for a fun day out!
As one of the fastest growing municipalities in Canada, investing in property around Etobicoke is an excellent decision for your future. This section of Toronto is a fantastic place to live with its low crime rates, a great infrastructure and beautiful waterfront views.
Average Condo Price for Etobicoke in 2021
The average condo price for Etobicoke in 2021 is $250,000. This is a good value for property in Etobicoke, considering it costs more than $600,000 to build a home in nearby Mississauga.
People looking for an investment property should consider investing in a condo. They are less location-specific than selling single-family homes because you can vary the price of your unit if you choose. This is great especially during an economic downturn so that you still have a place to live in your chosen area.
The property you buy will likely increase in value over the years. This can be seen by comparing the current price of condos to that of the average price for all Toronto condos. The condo price growth is faster than that of nearby houses and this can make it a smarter investment choice for people who need more room or want a smaller home. Hottest Deals in Etobicoke
There are many great deals to be found in Etobicoke, such as two-bedroom luxury apartments on the waterfront or cozy detached homes with front yard space. The prices vary based on location and size of property, but there are lots of good deals for people looking to buy property near this exciting area.
Etobicoke is a district within the city of Toronto, Ontario, Canada. It comprises six neighborhoods: Mimico, New Toronto, Long Branch, Brown’s Line (formerly known as West Etobicoke), Alderwood and Etobicoke North. Etobicoke’s northern boundary is the Humber River, which separates Etobicoke from Humber Bay. Etobicoke is a part of the Greater Toronto Area (GTA). The “North end” of the district is situated north of Eglinton Avenue.
The City of Etobicoke was originally named the Borough of West Toronto, and was a separate municipality until amalgamating with East Toronto in 1998. The borough was renamed Etobicoke in 1967. It is named after Etobicoke Creek, which runs through the area.
The condos in Etobicoke are situated along the lakefront and have a view of Lake Ontario and Canada’s busiest airport, Pearson International Airport. The suburb was created in the early 1960s as part of a plan to redevelop Metropolitan Toronto, which included new housing developments and redevelopment of some obsolete industrial lands.
Etobicoke Accessibility / Getting Around
Etobicoke has multiple modes of transportation available to get you around. You can use the free shuttle buses, take the bus, cycling lanes or a driving to navigate through Etobicoke’s neighborhoods. The GO Transit and Pearson Airport Express provide service such as train stops and shuttles for transit from Pearson Airport.
In Etobicoke’s early days, there was no highway access and it would take more than an hour to get downtown on public transit. This was corrected with the construction of Highway 427 in 1967 which now leads directly into Toronto’s downtown core in about half an hour.
The Eglinton Crosstown LRT is expected to be operational by 2021 and will have 27 stations with plans for a 16.5 km (10.6 mi) long route and 12 phases to be completed by 2021. The Eglinton Crosstown LRT line will connect York University, Pearson Airport, Downtown Toronto, Highway 407/York Region Center, and the west end of Etobicoke.
The official area code for Etobicoke is 416 around the downtown core of Etobicoke. The City of Etobicoke is 50% bilingual. Etobicoke’s Demographics
As of the 2011 census, Etobicoke had a population of 343,681 people. The population density was 5,138.3 people per square km (13,273.5/sq mi). As of 2006, there were 174,453 private dwellings in Etobicoke. The average household size was 2.77 persons; the average family size 3.34 persons (according to Statistics Canada). As of 2001, 19% of the population were immigrants.
Why should I buy a pre-construction condo in Etobicoke?
A few reasons are that the condos in Etobicoke are situated along the lakefront and have a view of Lake Ontario and Canada’s busiest airport, Pearson International Airport. The suburb was created in the early 1960s as part of a plan to redevelop Metropolitan Toronto, which included new housing developments and redevelopment of some obsolete industrial lands. There is also a lot to do in this area. There are many great deals for people looking to buy property near this exciting area. What are the surrounding villages like?
Etobicoke is surrounded by Mississauga, Toronto and Lakeshore. There is a heritage village in New Toronto called Long Branch which has a great little beach and lakeside promenade on Lake Ontario. In Mimico, there is a little public park along the side of Highway 401. There is also some really nice housing here.
How do I profit from a condo investment?
The main way to make profit from a condo investment is by renting out your condo. To find tenants, create a marketing strategy that includes advertising on the internet or at apartment buildings, community centers and schools with available rentals.
You can also purchase condos as investments for rental purposes. You need to decide how much you want to spend monthly on mortgage payments, property taxes and utilities costs. For example, if you decide you are willing to pay $600 for the pre-construction condo and want an annual return of 7% (the average rate of return in the market), then invest $2400 over twelve months ($200 per month). This will allow you to make back around $1400 in addition to rent collected in one year, so you will be able to invest any money saved by reducing the mortgage payment (around $400).
Which pre-construction condo do I invest in?
A few pre-construction condos worth considering are: The One. The One is in Mississauga and features a 54,000 square- foot plaza – the largest outdoor space in Toronto. It has a large fitness center with a pool, tennis court and squash courts according to one of the developers onsite who said “The condo will be sold as standalone units or for those looking for an investment opportunity, there will be condos for sale”.
The other pre-construction condo that is worth looking at is Millennia Place. This area is set to have the most prestigious building in Etobicoke by 2020. It offers some really prime views of Lake Ontario including downtown Toronto. The condo is a mix of one, two and three bedroom layouts. The interior of the new preconstruction condos at Millennia Place are just stunning. They have professionally designed floor plans with 9′ high ceilings, kitchen island, hardwood flooring, custom cabinetry with granite countertops, and many more features.
How long should I wait before selling my condo?
I would recommend waiting at least three months. The longer the wait, the more likely someone will be to pay your asking price and there is less chance that you will need to lower your price due to for an influx of buyers who are looking for a quick sale.