The average price of a house in Toronto is currently sitting around $1.5 million, so finding anything under that is verging on a miracle. And finding a home that isn’t a complete money sink or in need of a full on demolition for under $800K is even harder.
But here are eight homes that are currently on the market for less than $800,000 that we think might have potential, and won’t totally break your budget.
A fantastic condo alternative in the idyllic Queensway Village, this house is perfect for first-time homebuyers, young families, and even empty-nesters. Priced at $799,000, the open-concept layout, natural light, and large windows make this two-bedroom home feel a lot more spacious. Our favourite part is the fully-finished basement that includes a well-sized bedroom and home office. Surrounded by good schools and a charming community, this one may not sit on the market for very long.
This East End house for sale is an adorable starter home for $799,900. Living here means you’re part of a vibrant community, with easy access to weekend farmers markets, lively restaurants, and tons of schools. It has two bedrooms, two bathrooms, plus a spacious main floor with the kitchen as its main focal point. Although the basement is unfinished, there’s potential to turn it into a home office or in-law suite.
Nestled in the famous Rouge Valley community, this Scarborough house for sale at 215 Andona Crescent offers incredible value. Priced at $788,000, it offers a functional layout with large principal rooms, an eat-in kitchen, and a spacious deck. But what we like most about this property is its location. You’re surrounded by wilderness, and bordered by a long stretch of beach. Yet the 401 and Rouge Hill GO station are just minutes away, making it easy to get around to other parts of the city.
Possibly one of the cheaper houses currently on the market right now is this two-plus-den, two-bathroom property in York Crosstown. Listed for $799,000, this cute, renovated freehold is perfect for first-time homebuyers upgrading from a condo. The main bathroom has ‘spa-like’ finishes, and the modern kitchen features stainless steel appliances, a stylish backsplash plus concrete countertops. Because the basement has a separate entrance, there’s potential here for an in-law suite or income property.
Listed for $749,000, this detached home is a diamond in the rough. The interiors are a mess, but most homes listed in “as is” condition usually are. Even though the home itself needs a full-gut renovation, the property has a ton of potential, including that for a laneway house. 46 Pritchard is over 100-feet deep and has laneway access. So after you redo the main house, you can get started on building the laneway home of your dreams.
But if none of these reasonably priced homes are tickling your fancy there are still few more out there that didn’t make the list. However, our advice would be to act quickly since cheaper houses in Toronto never last long.