Pros and cons of buying a condo in Scarborough, Toronto

A small room with a chair.

Do you want to buy a home in Canada? Your dream is to live in Toronto and to own a condo there. Before taking any further steps, make sure to know everything about the real estate market in Toronto. Buying a home is a big responsibility and financial investment. One of the neighborhoods in Toronto to consider as your future home is Scarborough. Every place in the world has bad and good sides of living, including investing in real estate there. Buying a condo in Scarborough has advantages and disadvantages.

What should you know about this place?

Nowadays, a lot of information can be found on the internet. It is a good way to start. Of course, not enough. It is highly recommended to visit Scarborough and hire a local real estate agent. They know the market the best and a good and reliable realtor will be able to find a perfect home for you in your price range.

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A perfect home demands professional assistance

The average price per square foot for pre-construction homes in Scarborough is around $8,000. For homes in Scarborough, the median price is  $797,000. The average pre-construction appreciation rate for the past 10 years has been 6.5% and the average resale appreciation rate in that period has been 8.9%. Toronto is one of the best cities in Canada for newcomers, if you have never lived here before, get to know this amazing and vibrant place.

Buying a condo in Scarborough – good and bad sides

Why should you and why shouldn’t you purchase a home in Scarborough? Is it a Toronto neighborhood for you or do you need to search for something different?

The pros

  • It is a very vibrant and popular place but, at the same time, very affordable.
  • Condos usually have a great security system including gated security, a doorkeeper, and security officials residing in the building. When choosing where you will live for a long period of time, security is one of the main factors.
  • Fewer maintenance and repair responsibilities when buying a condominium.
  • Access to on-site amenities. Many condominiums have a fitness center, spa, pool, garage parking, etc.
  • Monthly maintenance fees and utility bills are usually predictable. This is very important for managing your monthly budget.
  • You can personalize your home and decorate it without asking anyone. That is not the case if you are renting it.

The cons

On the other hand, you should know the disadvantages of buying a condo in Scarborough.

  • Paying for amenities that you might never or rarely use. If you don’t go to the gym or you are not using the pool, paying more for these amenities is wasting of money.
  • Less privacy when living in a condo. For more privacy, you should better choose a house.
  • Charges for unexpected repairs in the building. For example for an elevator, garden, pool repair, etc.
  • A condominium attracts individuals with a variety of personalities.
  • Less space in some condominium units, but it is not a rule for every condo.
  • Restrictions on things like noise levels, parking, pets, smoking, etc.

If there are more pros than cons for you of buying a condo in Scarborough, then you need to consider this place as your future home. For moving to Scarborough with ease and to move into a new home, have specialists by your side.

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Reasons to live in Scarborough

Why are people moving to Scarborough and why do they choose to buy a condo here? After buying a condo in Scarborough, you will probably live here for a longer period of time. That is why you need to be sure about your decision of buying a home here.

Hire a local real estate agent

A key to finding a perfect home is to have a reliable and experienced local realtor to show you homes in Scarborough. Search online or ask for recommendations. Set your priorities and a budget. If you like a condo, visit it a couple of times before making the final call. But, be open to making some comprises. It is hard to get everything you want unless you have an unlimited budget. That is why you should know your future plans and buy a condo in a size you actually need. Do not buy a bigger place because it will cost you a lot more.

Moving to Scarborough, Toronto

To move all your items to a new condo here, you should have Movers Toronto by your side to help you out because they know this area. This way you can focus on the moving-related tasks and decorating your new home. Moving all your household items from one home to another is not a job for inexperienced persons.

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Movers can make your move a lot easier

It requires knowledge. Besides that, you will need a moving vehicle and experience with driving it. That is why you should leave it to professionals, especially if you are moving long-distance. Hire a moving company from Toronto and do not worry about your items. Of course, make sure the company is licensed and insured.

Things to do in Scarborough

If you are relocating to Toronto with family, you should buy a condo where your kids can grow. If you have kids that will move out soon, then, you probably need a smaller place. After searching and buying a condo in Scarborough, hiring movers, organizing your big relocation, it is time to relax and enjoy. Scarborough has plenty of places to visit. Now, it is time to spend time with your friends and family. Some of the places to see are the Zoo, Scarborough Museum, Rouge National Urban Park, Kidstown Water Park, Scarborough Buffs, Toronto Pan Am Sports Centre, East Point Park, or just go to the beach and relax.

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