Earlier in 2018, Toronto was ranked “one of the least affordable cities in the world”. If you currently live in Toronto, you may think that life outside the city doesn’t exist, perhaps opting to live in 500 square-foot apartment.
However, with the rise of telecommuting and the slow death of the traditional nine-to-five workday, a home outside Toronto’s core is becoming more desirable to those who spend most of their salary on rent or would like to make space for their growing family.
Moving to the Niagara Region
Less than an hour-and-a-half drive away, right on the QEW, sits the picturesque Niagara Region. The economy of the Niagara Region has been on the rise since 2015. It has become an attractive investment for business people and residents alike. A rise in the real estate market, local business opportunities, and promising new developments have contributed to an exciting future.
An improved economy has more people moving to the Region. This has driven an increase in transportation options and city amenities, including an expansion of the GO train Lakeshore corridor to Niagara. By 2021, GO trains will be rolling all the way to Grimsby. By 2023, GO trains will be regularly servicing Niagara Falls.
Once die-hard urbanites are finding that moving to Cities such as St. Catharines, the largest city in the Niagara Region, is not the end of their social life. St. Catharines has a growing population of young GTA transplants giving rise to a hip culinary scene, artisan retail and coffee shops, arts and entertainment, and unique events.
Comparing Toronto to St. Catharines’ Real Estate Prices
Exactly how much further will your dollar stretch in St. Catharines? Check out these quick comparisons.
Budget: under $400,000
TORONTO $319,900#112 -2550 Bathurst Street: 1 Bedroom, 1 Bathroom Apartment, NO balcony, $617.17/ month in condo fees: https://www.realtor.ca/real-estate/20044668/1-bedroom-condo-112-2550-bathurst-st-toronto-forest-hill-north
ST. CATHARINES $399,000 152 Russell Ave: 3 Bedroom, 1 Bathroom, finished basement 1350 sq/ft freestanding home. Beautifully updated dutch colonial style with a picturesque backyard in one of St. Catharines most sort after neighbourhoods. Steps to a new school, dog park, playground and a short bike ride to downtown.
Budget: under $600,000
TORONTO $600,000 #407 -88 Colgate Ave: 1 Bedroom, 1 Bathroom loft, balcony, parking space, $368.41/ month in condo fees: https://www.realtor.ca/real-estate/20077735/1-bedroom-condo-407-88-colgate-ave-toronto-south-riverdale
ST. CATHARINES $579,900 5 Ellen Circle: 3 Bedroom, 1 Bathroom, Office, 2 living areas, tons of storage split-level house. Lovingly updated hip Mid Century Modern architecture, large backyard, one of Niagara’s best schools right over the back fence. 3-minute walk to picturesque Walkers’ Creek Trail or a 5-minute bike ride to the Lake’s shore. Within a 10-minute drive, you can taste some of the Niagara Region’s finest wines right at the cellar door. Or, in 10 minutes, you can enjoy shopping, arts, entertainment, and dining in downtown St. Catharines.
Budget: under $850,000
TORONTO $835,000 #702 -125 Western Battery Road: 2 Bedroom, 2 Bathroom unit, balcony, underground parking, $469/ month in condo fees: https://www.realtor.ca/real-estate/19942324/2-bedroom-condo-702-125-western-battery-rd-toronto-niagara
ST. CATHARINES $835,000 148 Woodside Drive 4 Bedroom, 4 Bathroom spacious raised brick bungalow. Located at the base of the Niagara Escarpment, part of the international UNESCO Biosphere, this home has picturesque panoramic views. The chef’s kitchen with the stunning granite, walk-in pantry and high-end appliances is the heart of the home. The open concept is perfect for entertaining.
*Featured image of 5 Ellen Circle St. Catharines