Demand for housing is up all across the country and here in the GTA the market is especially hot. There is strong buyer interest in condominiums in particular, as they remain the most affordable way to enter the real estate market. Buying a new construction condo assures you the latest in technology and design, giving you peace of mind for years to come. Here are four reasons a condo in Scarborough is a great investment.
Housing Demand Continues To Be High
It’s a great time to get into the market, as many renters are ready to get on the property ladder. They’re looking for condominiums, especially those in prime areas of the city that have robust, built-in infrastructure surrounding them and neighbourhoods that are already rich in amenities. A condo is the most attractive option for many individuals, couples, and families. According to the Royal LePage national aggregate home price forecast, the GTA is the only region where condominium prices are forecasted to appreciate even more than detached homes—in 2022, prices are expected to rise 12.0 percent year-over-year to a median price of $763,800.
You Are Surrounded By Accessible Public Transit
A thriving local transit system is a must for those who commute to work or school. Many choose not to own a car, preferring a more active, environmentally-friendly lifestyle: walking as much as they can, relying primarily on public transit to get around, and only using a car occasionally. In Scarborough you are surrounded by accessible public transit, with more enhancements on the way. The Scarborough Subway Extension will add 7.8 km of subway service to the area, extending from Kennedy Station (the easternmost end of the TTC’s Line 2 subway service) to Sheppard Avenue and McCowan Road, making it even easier to get around.
Family-Friendly Neighbourhoods
Scarborough is full of welcoming, family-friendly neighbourhoods, thanks to the rich network of amenities that exist. Every few blocks there are elementary and secondary schools—public, Catholic, and private—parks and green spaces, community centres with both indoor and outdoor fitness facilities, and places of worship representing a number of different denominations. An area like Agincourt, for example, is highly diverse, with individuals that speak an array of languages and represent cultures from all over the world.
Convenient Location
Being able to easily access other points throughout the city is another important factor when choosing a place to live. Scarborough is conveniently located just off Highway 401 and is minutes from Hwy 404/Don Valley Parkway; you can travel east or west easily, all the way south to Lake Ontario, and up north past cottage country and beyond. Because it’s so central, you can be in any other part of the GTA quickly, whether for work or leisure.
These are just four of the reasons a condo in Scarborough is a great investment. Scarborough is a thriving, bustling city in its own right that offers every convenience. Thanks for reading and don’t forget to follow the Gemterra blog for more great information on exciting local neighbourhoods.