Townhouses for Sale in Severn, ON

Every city has its most in-demand neighbourhoods, and in Severn they are Coldwater, Bass Lake and Fesserton. Strata.ca examines specific criteria to determine a neighbourhood's level of desirability. The average sale price, average days on market, and the percentage of properties that have sold over asking are just some of the factors used to determine popularity.

The priciest neighbourhoods in Severn are Fesserton and Marchmont. We isolate these neighbourhoods by looking at the average sold price over a set period of time. Buying in Severn's priciest neighbourhoods may not be ideal if you're seeking good value. Port Severn could be much better options.

You may be surprised to discover that Washago and Ardtrea are Severn's most affordable neighbourhoods. Strata.ca assesses historical data to determine the average sale price for every neighbourhood. Overall, houses in Severn are selling for an average of $899,801.

Aside from mortgage payments, owning a house in Severn will require that you pay an annual property tax. This tax is used to pay for several essential services, including garbage and recycling collection. Each year, the municipality determines its property tax rate - which typically falls in the range of 0.5 to 2.5%. Some Severn residents assume they'll pay more in taxes, depending on the size of their home. However, that's not necessarily true as the city's tax rate is multiplied by the property's current market value - and that can change each year based on the sale of nearby homes. Let's say your home's assessed market value is $600,000 and the municipality's property tax rate is 1% - that year you'd pay $6,000.

If you're seeking a new place to call home Severn, Strata.ca can help you. Our website lets you search for every property on the market. It's a one-stop-shop for your real estate journey. But why settle for basic property details when you could unlock Severn's real estate history! And the best part - it's all presented in a user-friendly way, making it easy to find your dream home.

With a walk score of 18, most Severn residents typically require a car to get around. The transit score, meanwhile, is 25, indicating that this city offers a notably smaller public transportation network. And the bike score comes in at 34.

A common mistake buyers make is overlooking the closing costs associated with purchasing a house in Severn. These fees are standard in real estate, but can still catch you off guard if you're unprepared. When searching for a house in Severn, buyers will typically take into account 1.5% - 2% of their budgeted purchase price for closing costs. For instance, 2% in closing costs on a $500,000 house would be $10,000. Because these charges cannot be lumped into your mortgage, it's crucial to have this money upfront upon closing. In Canada, all buyers are required to pay a land transfer tax when closing on a property. If this is your first home, you can reduce closing costs by applying for a government rebate. Under this program, first-time homebuyers are reimbursed a portion of the land transfer tax. Lastly, you'll need a Severn real estate lawyer, not only to facilitate the financial transaction, but to conduct a title search and register the property under your name. A good rule of thumb is to set aside about $1,500 to $2,000 to pay out your real estate lawyer upon closing.