Houses for Sale in Scarborough, Toronto, ON

Every city has its most in-demand neighbourhoods, and in Scarborough they are Birch Cliff | Cliffside, Malvern | White Haven and Bendale. Strata.ca examines specific criteria to determine a neighbourhood's level of desirability. Indicators include the average time a property spends on market, the average sale price, plus the percentage of homes that have sold over asking.

Every city has its expensive neighbourhoods, and in Scarborough they are Birch Cliff | Cliffside, West Rouge and Highland Creek. The average sold price is able to tell us where a neighbourhood ranks in terms of cost. If you're looking for value, Scarborough's priciest neighbourhoods may not be ideal. Instead, check out Wexford - Maryvale, Rouge | Dean Park | Brookside and Clairlea | Golden Mile for other alternatives.

Malvern | White Haven, Oakridge and Ionview are Scarborough's cheapest neighbourhoods. We isolate these neighbourhoods by looking at the average sold price over a set period of time. In comparison, the average house in Scarborough is selling for about $1,153,394.

Homeownership in Scarborough comes with a number of expenses, one of them being property taxes. This tax is essential in helping the city provide a number of services, including sewer protection and road maintenance. Each year, your municipality will determine its property tax rate, which typically lands between 0.5 and 2.5%. To determine how much property tax you'll pay, the city will multiply that tax rate by your home's current market value - which can fluctuate year-to-year depending on the value of neighbouring properties. This is why it's not necessarily correct when Scarborough homeowners assume that the bigger their house, the more they'll pay. Let's say your property's market value is $700,000 and the municipal property tax rate is 0.5%. This means you'd owe $3,500 in property taxes that year.

Strata.ca updates multiple times each day, featuring all the available listings in Scarborough. But why settle for basic property details when you could unlock Scarborough's real estate history! This kind of intel can give you an edge in the local market.

Scarborough has a decent walk score of 55, meaning some errands can be done on foot, but many will likely require a car. The transit score, meanwhile, is 70 - providing residents with an impressive public transportation network. And the bike score is 49, meaning there is minimal bike infrastructure.

When looking for a house in Scarborough, many buyers will overlook the closing costs. It's important to be aware of what these costs are, so you can budget accordingly prior to making an offer. The average closing costs in this city will typically come to about 1.5% - 2% of the purchase price, although this can vary. For example, 2% in closing costs on an $800,000 house would be $16,000 that you need to budget for. 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. First-time homebuyers could be eligible to receive a rebate on a portion of taxes paid. And lastly, buying Scarborough real estate will require a lawyer you can trust. You'll need to find someone who specializes in this as they'll be finalizing your purchase. Depending on the complexities of the deal, legal fees can range. But budgeting $2,000 for your lawyer is a good place to start.