WATCH ABOVE: The average price for a detached home is now $1 million in Toronto. So what else can you get for $1 million? Allison Vuchnich takes a look at what you can get for $1 million.
TORONTO – If I had a million dollars, I’d… buy a house in Toronto? The average price for a detached home in Toronto crossed the $1 million mark in February meaning the Barenaked Ladies might have to rein in their budget and might have to put off buying a Picasso.
Prices for all homes in the Greater Toronto Area rose in February despite record low temperatures, increasing 7.8 per cent according to the Toronto Real Estate Board. And sales were up 16.9 per cent in Toronto, pushing the average price for a home past the $1-million mark.
So what can you get for $1 million in Toronto? Realtor.ca has approximately 100 homes listed between $1 million and $1.1 million in the city of Toronto.
One, at 427 Cummer Avenue west of Bayview Avenue, features three bedrooms, an attached garage, and a basement with a separate entrance.
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Another home at 427 Willowdale Avenue has an asking price of $1.088 million. The detached home as three bedrooms, two bathrooms and a separate entrance to the basement that can be rented out.
That’s a small sampling of what Toronto has to offer. Prefer to look elsewhere in the Greater Toronto Area? Here’s a look at what you can get for a similar amount of money.
How about the outskirts of Milton in the hamlet of Moffat? It’s roughly 1.5 hours from downtown Toronto and within 30 minutes of Guelph, Burlington and Milton.
Prefer to be close to the water? There is a three-bedroom, two-storey detached heritage home in Oakville near Lake Ontario for $1.074 million.
The large home on William Street, south of Lakeshore Road East and within walking distance of the water in Downtown Oakville.
Or do you want to be east of Toronto? Slightly more than $1 million can buy a large detached home in Whitby that is roughly 40 minutes from downtown Toronto.
A detached, four-bedroom, 4,000 square-foot home with brick and stone exterior is currently listed with an asking price of $1.004 million.
Maybe you’re done with the city. You want to get away from endless gridlock, noise, and lights for something a little more peaceful? How about a 500-acre farm, four-bedroom house and four barns in Stone Mills, Ontario, that are only a nearly 2.5 hour drive from downtown Toronto?