Only two Toronto properties make list of Top 10, Strata.ca data shows
If there’s one thing homebuyers are constantly seeking, it’s certainly good value. And that hunt for value is even more fierce in an increasingly expensive real estate market. After all, the average cost of a GTA condo is about $807,600 or $934 per square foot (PSF).
But with thousands of condos out there, how can you tell if you’re making the right purchase? One of the best ways is to see if that property offers the best value. In other words, does it provide the most rewarding combination of cost and quality?
At Strata.ca, we collect data on every condominium in the GTA. And that data allows us to pinpoint which properties offer the most on every dollar spent. The top-ranking condos tend to have the following:
The top 10 properties offering the best value are dominated by townhouse condos in the suburbs, including Vaughan, Markham and Oakville. Only two properties in Toronto made the list.
One reason why townhomes in particular offer great value is due to their lack of amenities. These condos can usually afford to keep maintenance fees low for residents because they have no elevator, indoor pool or concierge service to maintain.
As for why suburban condos have the best value — that’s because properties outside city limits tend to offer more square footage. So homebuyers are often getting extra space on every dollar spent.
Given all that, it’s no surprise that the competition to secure a unit in one of these top-ranking condos is fierce. If you want to get into a condo that offers incredible value, Strata.ca realtor Cyrus Ghazvini says you must get your finances in order before making an offer.
“This way, you can present an attractive offer with as few conditions as possible,” he says. “And by knowing in advance what your mortgage comfort zone is, you can strategically bid higher than other competing buyers.”
In today’s market, Ghazvini says it’s also important to know what other units in that particular condo have already sold for.
“This will give you a good idea as to how much above asking other buyers paid for a comparable unit,” he explains.
So here are the highest-ranking condos, based on maintenance fees and the average cost to buy in. The figures in parentheses reflect the neighbourhood average.
1. Leah Crescent Townhomes | Thornhill, Vaughan
Cost: $452 psf (vs. $767)
Maintenance Fee: 16¢ psf (vs. 70¢)
View more Thornhill - Vaughan condos for sale.
2. Circa Carriage Townhomes | Unionville, Markham
Cost: $663 psf (vs. $976)
Maintenance Fee: 23¢ psf (vs. 58¢)
View more Unionville condos for sale.
3. Brighton Place Townhomes | Thornhill, Vaughan
Cost: $559 psf (vs. $767)
Maintenance Fee: 18¢ psf (vs. 70¢)
View more Vaughan condos for sale.
4. Windermere by The Lake Townhomes | High Park, Toronto
Cost: $724 psf ($905)
Maintenance Fee: 23¢ psf (vs. 73¢)
View more High Park condos for sale.
5. Poplar Crescent Townhomes | Aurora Highlands, Aurora
Cost: $484 psf (vs. $495)
Maintenance Fee: 19¢ psf (vs. 19¢)
View more Aurora condos for sale.
6. Cricklewood Estates Townhomes | Thornhill, Markham
Cost: $396 psf (vs. $863)
Maintenance Fee: 30¢ psf (vs. 65¢)
View more Thornhill - Markham condos for sale.
7. Sheppard Point Condos | Agincourt, Scarborough
Cost: $354 psf (vs. $794)
Maintenance Fee: 54¢ psf (vs. 60¢)
View more Scarborough condos for sale.
8. The Harbour Club Townhomes | Bronte, Oakville
Cost: $568 psf (vs. $809)
Maintenance Fee: 19¢ psf (69¢)
View more Oakville condos for sale.
9. Northern Heights Drive | Langstaff, Richmond Hill
Cost: $639 psf (vs. $972)
Maintenance Fee: 29¢ psf (vs. 75¢)
View more Richmond Hill condos for sale.
10. Nadia Place & Sixth Line Townhomes | Downtown Oakville, Oakville
Cost: $455 psf (vs. $753)
Maintenance Fee: 32¢ psf (vs. 63¢)
View more Downtown Oakville condos for sale.