Toronto’s real estate market is constantly evolving, and townhomes are currently some of the most appreciated construction projects. The price of a townhome is determined by its location, appearance, age, and building materials used.
As you can imagine, townhomes that are located in popular areas or new suburbs are in high demand because their value is more likely to appreciate over the years. As a result, well-placed townhomes are more expensive. The surrounding area’s existing or planned amenities, such as parking zones, recreational facilities, shopping areas, public transport, and restaurants also influence their prices.
Older townhomes sometimes require costly renovations, which may drive some of their value down over time. If the building’s common areas are not well maintained, the townhome can lose some of its marketability and resale value.
The building’s appearance and building materials affect the townhome’s comfort and value. Townhomes that have a wooden structure tend to be noisier than those with a concrete structure, so they may lose some of their value in time.
Pre-construction townhomes are in high demand because they meet all the important criteria that determine their value:
All of these factors make investing in pre-construction townhomes an excellent idea. And when you take into account the fact that you can save a lot of money by investing early in the construction process, your investment idea becomes even better.
The Greater Toronto Area (GTA) is Canada’s most populated area. Besides the city of Toronto, the GTA also includes the municipalities of Halton, Durham, York, and Peel. The GTA contains a total of 25 municipalities.
Employment determines the population’s income, so it can often have a unique impact on townhome prices. Easy access to well-paid employment opportunities is one of the best amenities a townhome can offer. As a result, employment can significantly affect an area’s real estate market.
When an area has a high unemployment rate, it usually has a lower demand for housing. The real estate market usually goes down in areas with lower demand for housing, which causes sellers to pull their units off the market for a better time. This can lower the average real estate price in certain areas.
Public transportation is fundamental for the social and economic growth of urban areas because it can significantly affect the quality of life. Access to public transportation makes the population more mobile, which helps boost the income potential of local companies.
The quality of public transportation has a direct effect on the price of a townhouse: high quality public transport systems lead to a better accessibility, which leads to higher real estate prices.
The GTA has 12 integrated public transit systems. In addition, there’s also a regional commuter transit system that enables residents to travel with ease. The Toronto Transit Commission has more than 442 million passengers per year.
Other public transport systems operating in the area are:
Pre-construction townhomes have lower initial prices, and the earlier you invest, the higher your potential returns. Investing in Toronto pre-construction townhomes can be hugely profitable.
All pre-construction townhomes are sold in different stages, each with its own prices and incentives.
