North of the Upper Beaches district in Toronto lays the newly christened area Danforth Village. This quiet neighbourhood was officially sanctioned with the creation of the Danforth Village Business Improvement area in mid-2006, an area that seeks to bring in additional business to the community. Danforth Village is known as one of the best places in Toronto for first time homebuyers to get a foot in the door when it comes to the real estate market. In this article we will take a look at some of the reasons why.
The houses are affordable! If you are a first time homebuyer who has been looking around the Toronto area for some time, you understand how very frustrating the process can be. It is pretty likely that you have been approved for a mortgage amount that just will not cover the payments you need to make each month on houses in many Toronto districts. Danforth Village is one of the exceptions to the generally expensive rule of Toronto real estate.
The housing in this area remains within the price range of the average first time buyer, and as with other real estate, rising prices will allow owners to upgrade over time. Public transportation. Because of the high price of homes, many first time home buyers will opt to cut costs elsewhere, most notably in transportation. Home owners who have chosen to forego cars still have enough options in Danforth Village to guarantee quick commutes anywhere they want to go; there are subway stations and GO stations in close proximity to most residences in the area.
The neighbourhood is becoming increasing popular. As word of the good prices and reliable transportation gets out, Danforth Village is becoming more and more appealing to buyers. This means that a house purchased now will be worth more in the future, possibly a lot more, and that is what real estate investing is all about. In addition, the Business Improvement area will guarantee more job opportunities and businesses within the area, leading further to increased value. It can be very difficult being a first time homebuyer in Toronto, but there are areas where you can make a sound and affordable purchase without a lot of risk.
Danforth Village is one of them.
Whether you're looking at Cabbagetown, The Annex, Danforth Village, Lawrence Park or Rosedale Toronto real estate, contact a company that employs some of the top agents in the Toronto Real Estate Board.