Are you thinking about relocating to Toronto? Toronto is one of the safest and eco-friendliest cities in Canada and is great for people of all ages. With a population of over 6.1 million people, it is easy to see why so many people call this city home. Make sure you research these 8 steps when you consider moving to Toronto.
1. Work With A Local Expert
There are 240 neighborhoods in Toronto. That is a lot to choose from. But with the proper help and advice from a local REALTOR®, it will make your move much easier. Once you have interviewed them and you have gotten to know each other a bit better, they should have a clear understanding of your wants and needs like if you need to be near a great school, want a short commute to work, want to be near parks, etc. They will be able to pinpoint the right areas to look for houses for you and also be able to point out hotspots in the neighborhood, like top delicious restaurants!
Before making the move, you should have some idea what area you want to move into. Different neighborhoods will also cater to your specific budget, but your REALTOR® can also help you with that. If you are relocating with your family, there are still plenty of options to raise your kids within the city.
3. Understand The Housing Market
There is no doubt about it – Toronto is an expensive city to live in. The current average home price is approximately $883,000 for a 2-bedroom home. The average condo price, for a 1-bedroom is reaching $560,000, with 2-bedroom condo prices reaching over $650,000. You will most likely want to make sure you have a job lined up before moving since the cost of living is higher. Your real estate agent can also help you understand what kind of budget you will require, specifically for closing costs.
4. Secure A Job Beforehand
As mentioned before, finding a job in the city before moving is your best option to ensure you can afford living there. To live comfortably, it is estimated you would have to make around $45,000 - $55,000 a year after tax. Securing a job before moving can also help you decide what neighborhood to look in.
5. Research Different Schools
Toronto has one of the largest school boards in the country with over 600 schools, so there are plenty of options if you are relocating with your kids. Whether they are entering junior kindergarten or high school, or attend Catholic school, there are highly reputed options in almost every neighborhood.
6. Join The Proud Torontonians
Every Torontonian is beyond proud of their city and amazing country they live in, so be prepared to become part of that crowd as soon as you make the move! Toronto is also proud of its 43 million tourists it attracts every year and are always happy to guide people in the right direction, whether they are looking for directions to the CN Tower, to Ripley’s Aquarium, to Canada’s Wonderland or the ROM!
7. Keep Track In A Calendar
Because you live in an amazing city with endless entertainment options for either yourself or the whole family, you will want to keep track of all the different events that happen throughout the year, particularly the infamous Canadian National Exhibition (CNE). The One of a Kind Show is another must-visit that takes place twice a year (in both spring and winter).
Just Enjoy Yourself!
You will never be bored in Toronto. There will always be a park to walk through, an event to attend, a hip new restaurant to try, a way to get around the city without driving yourself, and nights for you and your family to sit back and relax in your new neighborhood.
Relocating can be scary, but with the help from a local REALTOR® who can explain the market to you and what to budget for, it will definitely ease you into the move more.
Disclaimer: prices subject to change.
Check out our top agents in Toronto:
Agent Name: Paul L. | View Agent Profile>>
Serving Area: Markham, North York, Richmond Hill, Scarborough, Toronto
"I utilize marketing strategies that will allow you to sell or buy for the best possible price and always uphold the highest standards in real estate expertise, ethics, and client satisfaction."
Agent Name: Lucila P. | View Agent Profile>>
Serving Area: Burlington, Etobicoke, Halton Hills, Mississauga, Oakville, Toronto
"What sets me apart is that I have built a team of industry experts to make sure you have access to local home inspectors, mortgage brokers, contractors, interior designers, property managers, painters, gardeners, plumbers, electricians, home insurance companies and more!"
Agent Name: Ingrid H. | View Agent Profile>>
Serving Area: Etobicoke, Toronto
"As your REALTOR®, you will find I am quick to respond to your phone calls and emails. As my client, you are my number one priority."