“Where do I find myself today? Of all places, I’m in the City of Markham. It’s around a half hour drive from downtown Toronto on a good day on the DVP404. Why is this downtown agent in Markham? I’m actually helping my clients transition from a condo to a townhome.
Their family situation has changed, a baby has entered the family, and, of course, the current setup, though it’s still an okay arrangement, i.e., they’re still in a fairly decent size condo, daycare in the part of downtown they call home is extremely expensive. So here we are looking at a three bedroom townhome built last year that’s fairly comparable in price to a one plus den condo downtown.
Now, of course, if this townhome were anywhere in Toronto, we would be looking at around $1.1 mil, $1.2 mil, quite possibly more depending on how central it is. But this unit is priced under $750,000. So, let’s check it out and see what it has to offer. So, of course, there is a difference. This is not downtown. This is the suburbs. It is north of the city.
That said, for my clients, there’s some other important elements to consider, namely the proximity to family. With a new baby that’s always helpful. The daycare facilities here are much more affordable than downtown Toronto.
And, of course, the most important part of the whole pie, here’s more space. So, simply put, there’s just no way you’re going to be finding this square footage distribution in Toronto for under a $1,000,000. So here we are, in Markham, hoping that this unit meets their criteria and, we’ll see.”