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The average house price in Vaughan is $1,856,954, based on Strata.ca statistics. If you're looking to buy, 768 are on the market. On average, houses here are selling within 20 days on market. Generally speaking, the Vaughan's real estate market is relatively balanced among buyers and sellers.
Vaughan's most popular neighbourhoods are Patterson | Carrville, Maple - Vaughan and Vellore Village. We assess how much interest there is for a neighbourhood by looking at various statistics. Some of these factors include the average sale price, how much time a property typically spends on market, and the number of homes that have sold over asking.
Every city has its expensive neighbourhoods, and in Vaughan they are Kleinburg, Vaughan Metropolitan Centre and Rural Vaughan. The average sold price is able to tell us where a neighbourhood ranks in terms of cost. If you can't afford a home in Vaughan's most expensive neighbourhoods - check out other areas which offer better value, including Vellore Village, Woodbridge and Thornhill - Vaughan.
You may be surprised to discover that South Steeles, West Woodbridge Industrial Area and Elder Mills are Vaughan's most affordable neighbourhoods. We isolate these neighbourhoods by looking at the average sold price over a set period of time. Many properties in Vaughan's least expensive neighbourhoods are selling below the city's average of $1,856,954.
One of the carrying costs associated with homeownership in Vaughan is your property tax. This tax is used to pay for several essential services, including garbage and recycling collection. Property tax rates usually fall between 0.5 and 2.5%, and are set out by the local municipality. Some Vaughan 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 features all listings in Vaughan, updated multiple times daily - you won't ever miss a property when using this platform. But why settle for basic property details when you could unlock Vaughan's real estate history! Armed with this knowledge, users are able to compete effectively against other buyers and sellers.
With a walk score of 41, Vaughan is a city that often requires a car to get around. And with a transit score of 46, this city offers few public transportation options. For anyone with a bike, this neighbourhood offers more limited bike infrastructure, with a bike score of 43.
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 Vaughan. 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 Vaughan house for $800,000 - then at least $16,000 should be set aside. All buyers are subject to the province's land transfer tax. First-time homebuyers could be eligible to receive a rebate on a portion of taxes paid. And finally, when buying a home in Vaughan, you'll need a real estate lawyer to close the deal. Real estate lawyers have varying rates, but many agents will recommend you budget about $2,000 to cover their fees.