Whether you’re buying a condo with the intention of living in it yourself or renting it out as an investment property, you’ll want to consider a whole variety of factors before making your purchase.
Location, unit size, building, and amenities are just a few things you will need to think about no matter the reason why you’re in the market for a condo.
For many, Etobicoke condos for sale hold a distinct appeal, and for good reason too! Here’s everything you need to know about why investing in an Etobicoke condo might be a great idea for you.
Are you looking to buy a condo in Etobicoke? Check out our current featured listings right here.
They are Cheaper than Downtown Toronto–For Now
It’s pretty common knowledge that condos in Downtown Toronto are expensive. It’s all over the news, and just a quick Google search can show endless results for luxurious condos with price tags to match.
However, in Etobicoke, you can often get similarly luxurious condos at a lower price than you would see Downtown. For example, in the first quarter of 2023, the average price of a condo in “West Toronto,” including Etobicoke, was about $637,654. For the entire City of Toronto, the average condo price for the same period was $726,664.
That’s a difference of almost $90,000.
In the second quarter of 2023, West Toronto condos had an average price of $686,394 while the City of Toronto average was $769,716. This is a difference of just over $83,000.
So Etobicoke condos are still below the average price for Toronto, but the margin is getting slimmer.
They say the best time to invest in real estate was 20 years ago, and the second best time is right now. That holds true for Etobicoke condos, as it can only be expected that prices in the area will continue to increase.
*Figures sourced from TRREB
Curious about the condo market in Etobicoke? Read these posts next:
- 5 Things to Know About Buying an Etobicoke Condo
- Is Buying a Condo Worthwhile?
- Pre-Construction Condos: 5 Things to Know
Appreciation is Good if You Invest Now
Year-over-year price increases can seem disheartening if you’re currently in the rental market looking to enter the housing market for the first time. But once you jump in and invest in an Etobicoke condo, you’ll reap the rewards of appreciation.
As you pay down your mortgage and property values in the area go up, you’ll build equity and have the potential to make some money should you decide to sell your condo in a few years’ time.
This is important because, for many, buying a condo is an entry-level investment. It’s a “starter home” that you can leverage in a few years to upsize and buy a bigger home.
Is upsizing on your mind? Read about how to move from a condo to a house right here.
Location, Location, Location
If you’re used to living the downtown lifestyle, and the idea of moving to the suburbs makes you uneasy, you can rest assured that Etobicoke is still very much part of Toronto.
Enjoying Toronto’s finest urban amenities is easy since the area has great access to the TTC, GO Station, and quick access to the Gardiner Expressway.
Still on the fence about buying a condo in Etobicoke? Read these posts next:
- Condo Vs. Townhouse: Which is Right For You
- Status Certificates: What Every Condo Buyer Should Know
- 5 Simple Condo Upgrades that Boost Value
Quality of Life in Etobicoke is Only Going to Get Better
For many years now, Etobicoke has been a popular choice for homebuyers looking to combine the peace and quiet of suburban living with the convenience and diversity of the city. For that reason, Etobicoke has grown and will continue to grow as more people seek the exact lifestyle that’s become so prevalent in this West Toronto community.
Etobicoke has many parks, walking trails, recreational activities, restaurants, shops, and great schools. And as the population in Etobocike grows, you can expect to see these amenities get bigger and better too.
Learn more about living in Etobicoke in our neighbourhood guide right here.
Etobicoke Has a Lot of Great Condos
Whether you’re looking for an older condo in an established neighbourhood or a brand-new community, there is a condo building in Etobicoke for you.
With the popularity of Etobicoke on the rise, there are numerous new developments to choose from. These condos feature luxury amenities like rooftop terraces, pools, futuristic gyms, concierge services, and more.
For example, let’s look at one of the newest exciting projects in the area, Kipling Station Condo.
This 50-storey condo building is going to be one of “the most well-connected” condos in Etobicoke and boasts features and amenities that are unmatched in the area.
Get the full scoop on Kipling Station Condos in our post: Everything You Need to Know About Kipling Station Condos.
Looking for more reasons to invest in an Etobicoke condo right now? Give us a call at 416.882.8322 or email info@acriteam.com and we’d be happy to chat!
