Talking Townhouses in Toronto!
Which townhouse style & type of ownership is right for you?
There are four main types of townhouses in Toronto: regular townhouses, stacked, back-to-back and stacked back-to-back. With land costs at a premium in the city, real estate developers are looking to fit as many townhouse units onto each plot of land as possible. That’s why in Toronto stacked and stacked back-to-back townhouses are far more common than regular townhouses.
If you love the idea of having multiple floors like a house but either can’t afford a detached house or prefer the idea of having your home’s maintenance taken care of, renting or buying a townhouse is a great option. In fact, I’ve got one For Rent and one For Sale right now!
Townhouse For Rent: 455 #4 Dovercourt Rd
Townhouse For Sale: 32 Trolley Cres TH36
When you’re looking to buy a townhouse it’s important to also pay attention to the type of townhouse ownership. The two main types are: Condo Townhouse and Freehold Townhouse.
Condo Townhouse
You own the townhouse interiors but not the land (like a condo apartment)
Condo Townhouses are far more affordable than Freehold Townhouses, but also generally appreciate at a slower pace
Regular maintenance tasks are covered
You pay monthly fees which are comparable to typical condo fees
Average Price in Toronto (Aug 2019): $629,000
Freehold Townhouse
You own the townhouse and the land (like a detached house)
Freehold Townhouses cost more than Condo Townhouses and generally appreciate faster
Regular home maintenance/upkeep, like roof repairs, are not covered but some developments charge a small fee to maintain the common areas (shovel walkways & tend to gardens)
Low or sometimes no monthly maintenance fees
Average Price in Toronto (Aug 2019): $960,000
If you are interested in looking for a townhouse of your own, or any property for that matter, I’d be happy to help! - Andrew Dunn