Types of Housing in Toronto
The homes in Toronto are as diverse as the population of Canada. Here is a list of different frequently asked questions associated with types of houses available in Ontario ranging from Toronto Townhouses to Country Cottages.
What is a townhouse?
A townhouse is a term given to a row house. As the name suggests, the townhouse is linked to a minimum of two additional homes. Townhomes are common in cities and newly developed suburban areas where greater living density is needed.
What is a stacked townhouse?
A stacked townhouse typically appears to be similar to a townhouse from the exterior, the difference being that the building is split into separate living units. A stacked townhouse is most often designated as a condo or strata corporation. Stacked townhouses are common in cities where greater density is needed due to the lack of development land available.
What is a freehold townhouse?
A freehold townhouse is a house attached to two or more other homes and has a separate legal deed where the are no shared common areas with other homeowners. The freehold townhouse owner is responsible for all upkeep of their property.
What is a condo townhouse?
A condo townhouse is a legal designation that differs from a freehold in that there is a condo corporation that oversees the maintenance of all common areas, including snow removal, grass cutting, etc. For example, if there is a leak from the roof, the property managers are contacted to remedy the situation with the maintenance funds that each condo townhouse owner pays every month. There are additional rules and regulations in the condo documents that condo townhouse owners must follow versus a freehold townhouse owner.
What is the difference between a condo and a townhouse?
There isn’t necessarily a difference between a condo or a townhouse. Understandably, these two could be seen as different as historically speaking, “condos” have been a living space in taller buildings. A townhouse could be designated a condo. A condo is a legal form of ownership that differs from freehold.
What is a detached house?
A detached home is a house that is not attached in any way to another house.
What is a semi-detached house?
In Ontario, a semi-detached house is a home that has one shared wall (also known as a party wall) with a neighbour’s house.
What is a single family home?
A single family home is a house that legally allows a single family to reside in the home. Keep in mind that a single family includes other generations of that family. As an alternative, a duplex designation allows for more than one family to reside in the house.
What is a multi family home?
A multi family home is a home that allows for more than a single family to reside in the house. More than two families residing in the house typically refer to separate units that house the separate families.
What is the difference between townhouse and single family home?
There is not necessarily a difference between a townhouse and a single family home. The reason being that a townhouse may be legally designated as a single family residence. A townhouse is in reference to a building type, while a single family is a legal term at the city hall. Note that some townhouses may be duplexes or triplexes that allows for more than a single family.
How to turn a single family home into a multifamily home?
To turn a legally designated single family home into a multifamily home, you would need to speak with the city and the provincial government to change the legal designation to allow for more than one family (keep in mind multiple generations of one family is considered a single family). It is possible that the city hall may not permit more than a single family legal description in your area. If the city does permit a multifamily home in your area, you will then be required to meet the fire, and building requirements set out by the city and province. The necessary permits will be required and signed off on.
How to convert single family home to duplex?
To turn a single family residence into a duplex, the city must allow for this designation in your local area. If the city does permit a duplex in your area, you will then be required to meet the fire, and building requirements set out by the city and province. The necessary permits will be required and signed off on.
How to buy a townhouse in Toronto?
When buying a townhouse in Toronto, it is essential to hire a top-notch realtor. A professional real estate agent who knows the area, the development and someone who will guide you through what you need to know to make an educated decision. Buying a townhouse is no different than any other house purchase. Knowing the facts about the specific townhouse s essential.
How much does it cost to buy a townhouse?
The cost to buy a townhouse will range depending on whether it is either a freehold or condo ownership, where the townhouse is located in the city, the quality of workmanship, the size, the age and the number of parking spaces. Just like any home, the specific townhouse needs to be evaluated to know the value.
Which is cheaper townhouse or condo?
There is no hard and fast rule as to whether a condo or a townhouse is cheaper. The reason is that the quality of workmanship, the square footage, location, views, and parking can all play major factors in value. For example, there are condos in Yorkville that are over $12 million, while you can get a townhouse around the corner for $5 million and vice-versa.
How to sell townhouse?
Call a top producing realtor. Trust this realtor as they guide you through the process. Declutter, de-personalize, painting, staging, professional photos and videographer are important. It is also essential to price your property appropriately for the area, marketplace and with its actual value in mind. MLS is a key factor, along with the correct marketing strategy.
How to sell townhouse fast?
To sell a townhouse fast, hire a top producing real estate agent. Trust this realtor as they guide you through the process. Declutter, de-personalize, painting, staging, professional photos and videographer are important. It is also essential to price your property appropriately for the area, marketplace and with its actual value in mind. Many home sellers will over-price their townhouse, which means they can sit on the marketplace for far too long.
When to sell townhouse?
Hire a top producing real estate agent. Trust this realtor as they guide you through the process. Declutter, de-personalize, painting, staging, professional photos and videographer are important. It is also essential to price your property appropriately for the area, marketplace and with its actual value in mind. Many home sellers will over-price their townhouse, which means they can sit on the marketplace for far too long.
Why won’t my townhouse sell?
If you haven’t been able to sell your townhouse, it is likely to be one ore more of these factors:
1) It’s overpriced for how it shows and/or where it’s located;
2) Your listing strategy is not effectively communicating to the correct buyer demographic;
3) You have not had enough public market exposure – this could be that your marketing isn’t effective or that you need more time on the marketplace. At the end of the day, it all comes down to price at some level.
How to buy a cottage in Ontario?
Successfully buying a house in Ontario starts with hiring a top real estate agent. Start by choosing which area of Ontario’s cottage country you want to buy in. Get pre-approved for a mortgage. Then choose a professional realtor. Follow the realtor’s advice as there can be many more challenges when buying a cottage versus a house in the city. Riparian rights, septic rules, zoning restrictions, etc. can make for a complex process.
- How much does it cost to buy a cottage in Ontario?The price of a cottage in Ontario depends on the location – for example, buying a cottage in Muskoka will be much more expensive than buying one in Thunder Bay. The key factors that affect the price of a cottage are:
2) View in relation to sun angles;
3) Water frontage (accessibility and linear feet);
4) Quality of water (depth, rocky, marshy, sandy, etc.);
5) Distance from a major city; (the closer typically, the more expensive);
6) Age and state of repair;
7) Design and quality;
8) Square footage.
Where to buy cottage in Ontario?
There are many phenomenal cottages throughout cottage country. Where to buy is a subjective question that can only be answered by the buyer. That being said, affordability will be a key decision-maker. Cottage areas within a two-hour drive from Toronto will be more expensive than northern Ontario. Muskoka, Stony Lake, Lake of Bays, Pointe au Baral, and Georgian Bay are more expensive than the Kawarthas, Lake Erie and cottage areas east of Toronto. You want to make a wise decision while deeply considering lifestyle and proximity to friends and home.
Why buy a cottage in Ontario ?
There are many reasons to buy a cottage in Ontario. Unplugging from the city and getting into nature during the summer is a powerful motivator for many. Owning a cottage can be a wonderful place for friends and family to connect. Owning also allows the family to pass the cottage from one generation to the next – ensuring that everyone can enjoy the water, sun and fun for years to come.