Houses for Sale in Richmond Hill, ON

It's hardly surprising that Oak Ridges | Wilcox Lake | Bathurst, Jefferson and Mill Pond are Richmond Hill's most popular neighbourhoods. We assess how much interest there is for a neighbourhood by looking at various statistics. Neighbourhoods with homes selling within the shortest time frame will usually have a higher popularity ranking.

Observatory | Harding, Bayview Hill and South Richvale are Richmond Hill's most priciest neighbourhoods. We isolate these neighbourhoods by looking at the average sold price over a set period of time. Not everyone can afford a home in Richmond Hill's priciest neighbourhoods. But Westbrook, Jefferson and Rural Richmond Hill offer incredible value at a much lower cost.

Crosby, Devonsleigh and Langstaff are Richmond Hill's cheapest neighbourhoods. Strata.ca assesses historical data to determine the average sale price for every neighbourhood. Overall, houses in Richmond Hill are selling for an average of $1,836,335.

Aside from mortgage payments, owning a house in Richmond Hill will require that you pay an annual property tax. This tax helps pay for a variety of services, including garbage collection and snow removal. Each year, the municipality determines its property tax rate - which typically falls in the range of 0.5 to 2.5%. Some Richmond Hill homebuyers believe this tax is based on the size of the house. But rather, the tax rate is multiplied by the home's current market value - which can fluctuate each year based on surrounding homes. If your home's market value is $500,000, and the municipal property tax rate is 1% - your property tax for that year would be $5,000.

Strata.ca updates multiple times each day, featuring all the available listings in Richmond Hill. This website can show what your neighbour's house sold for last year. Or how much your grandmother's home might be worth in today's market. Armed with this knowledge, users are able to compete effectively against other buyers and sellers.

Richmond Hill has a walk score of 45, meaning it's much easier to get around the city with a car than by foot. Meanwhile, the transit score is 44 - indicating that only a few options exist when it comes to public transportation. And the bike score comes in at 47.

All buyers must pay a series of closing costs when purchasing a house here. Your realtor and/or real estate agent can best advise on what these charges are. But here's a quick overview of what's involved when buying property in Richmond Hill. Closing costs cannot be rolled into your mortgage. But rather, these are charges paid upfront on the day of closing. To be safe, budget about 2% of the purchase price. For instance, if you're buying a Richmond Hill house for $800,000 - then at least $16,000 should be set aside. A significant portion of your closing costs will be dedicated to the land transfer tax. These taxes are based on a percentage of the total purchase price. If you're a first-time homebuyer, however, you could be eligible for a government rebate to bring down these costs. Finally, a Richmond Hill real estate lawyer will be necessary to conduct a title search, arrange title insurance, plus register the home under your name. Although fees can vary, expect to set aside somewhere around $1,500 - $2,000 on closing to cover your legal costs.