Afford a Home Near Toronto – Here’s Where

Forget the high cost of big city living if you want a home near Toronto. As long as you have or can borrow a downpayment, here are six places where you can afford to live the good life.

Whitby, Vaughan, and Markham are right around the corner. They can leave you relaxing on the patio in 90 minutes or less. Communities like Orangeville, Milton, and Newmarket are close enough to commute regularly. 

All six allow you to afford a home near Toronto sooner than saving for an address in the Beaches.

Quick Read

How much does a house cost in Toronto?

Where is the cheapest place to buy a house near Toronto?

Where can I buy a house outside of Toronto?

Where are homes cheap in Ontario?

Sunflower - a feeling of living a life in the Suburbs

Living the Life in the Suburbs

Toronto area suburbs go to prove places where homes are cheap in Ontario don’t have to be off the beaten path. For newcomers who want a home near Toronto, they can hardly be beat.  

How much does a house cost in Toronto nowadays? A cool $1.1 to $1.4 million in 2023, up by nearly $1 million from 2012, when you could still get a modest detached home for $574,371. If that’s more cash than you have laying around, read more about how to use your first time home buyer advantage to afford the home you want.

Buy a Home Near Toronto for Less

Okay then, where is the cheapest place to buy a house near Toronto? As it turns out, Whitby and Orangeville are solid bets for modest and first time home buyers.   

Whitby for Outdoor Lovers

Whitby (pop. est. 142,607) hugs Lake Ontario’s northern shore. From skating to boating or golfing, it’s a fun place to live for outdoors enthusiasts, who’ll appreciate the nature conservation areas. You can tap a local brewery with friends or cheer on Protest the Hero, the city’s original heavy metal band. That historic castle, now a private girl’s school, used to be the sheriff’s residence. The intriguing, long-closed Intrepid Park Camp X spy training site is named after its founder, The Man Called Intrepid.

Borrow a down payment to buy a house.

Prices aren’t too bad, either. A condo is $560,000 and up. Townhouses start around $624,000 to $1 million, as do some older, upgraded bungalows. “Newish” houses and single family homes on expansive lots start at around $900,000, topping out near $4.5 million for a high-end property.

Whitby Farmers Market

Vaughan for Cultural Highs

Vaughan (pop. est. 341,000) is a step up price-wise or for culture lovers who value concert hopping and shopping via the Yonge-University TTC. You can get to York easily after hours. Enjoy the benefits of a redeveloped downtown on weekends, or hiking and biking trails for relaxation. Bored on weekends? Take a trip to Canada’s Wonderland or LEGOLAND Discovery Centre, then visit the Sportsplex to kick a ball around.

Can a buyer back out of an accepted offer in Ontario?

A robust rental market makes Vaughan an obvious choice for investors and buyers who can afford a home near Toronto but want a mortgage helper. You can still get into a condo with around $580,000 to $732,000. With townhouses trending at $739,000 to $1.3 million, having a family is not out of the question in affordable Vaughan. Detached homes start around the $1.4 million and more mark, unless you’d prefer to have 5,700+ square feet and your own offices in a converted barn for a cool $12 million.

How your down payment’s size affects your mortgage.

Condo in the City of Markham

Making It In Markham

Markham (pop. est. 350,000) is a family friendly choice. Vistas from the winding riverside are pleasant, parks abound, and though densely populated, it has the amenities you’d expect from a tourist destination. Historic Markham Village is the starting point for a jaunt to the farmer’s market or sipping a latte while you chill.

Detached homes are on the higher end, $1.7 million on average. If getting out of the city is what you crave, $1.4 to $1.8 million could do it or, for more luxurious digs, $5 to $7 million. Condos go from around $600,000 to $800,000, while townhouses average between $850,000 and $1.2 million.

Questions to ask lawyers when buying a house.

On Broadway in Orangeville

Urban planners agree Orangeville (pop. est. 28,900) is a “Great Place”. So much so that Broadway Street, the vibrant heart of the community, won a Canadian Institute of Planners Great Place Award in 2015. You can see why as you wander past the cascading waterfall, marble clock tower, and founder statue. Local restaurants may look familiar: you probably saw them on The Food Channel’s You Gotta Eat Here. The restored Orangeville Opera House hosts concerts year-round and you can hang out at sports bars or the Orangeville Blues and Jazz Festival. 

What happens to the deposit when buying a house.

With condos starting around $420,000 and multi-level townhouses averaging $670,000, serious house hunters can afford a home near Toronto with between $21,000 and $33,500 down. Spacious, newer family homes average from $1 million, with carriage trade homes going for up to $1.4 million. A modest bungalow can be had for around $800,000. Don’t put it off for long. Supply is limited.

Town of Orangeville - Dufferin County Building

GO-ing to Milton

Milton (pop. est. 3,130) is near enough to GO to, but far enough to be laid back. You’ll likely want a car to get around. Bus service is limited and journeying beyond your home near Toronto can mean trekking to a neighbouring city. The tiny, yet mighty town hosts camping, hiking, biking, and boating at Kelso conservation area. When recreation is your thing and you don’t mind a quiet evening in, Milton could be the place.

Single family homes start around $900,000. Expect to pay $1.3 to 1.4 million for the average detached home. Carriage trade homes and acreages can cost from $5 to $15 million. A budget of $800,000 to $1.1 million will get you a decent sized townhome, while smaller apartment condos can be had for anywhere from $522,000 to just over $700,000.  

Protect your new condo deposit. 

Moving to Newmarket

Newmarket’s over 44 kilometres of trails make it a green destination. Residential taxes and crime rates are low. Historic Main Street has a “quaint village centre” vibe, with a riverwalk and nicely preserved heritage buildings. Rapid transit, vivaNext, is a bonus for a smaller city (pop. est. 84,244).

$1 to $2.2 million will buy you a detached home, while $7 million could score a sprawling acreage address. For between $450,000 or, on the high end, $1 million, you could snap up a nifty condo. A townhouse will set you back from $850,000 to about $1 million.

Read More Homes, More Choice: Ontario’s Housing Supply Action Plan.

Why You Need a Real Estate Lawyer

Axess Law puts your mind at ease when you buy or sell real estate. Our licenced real estate lawyers go over terms and conditions in your agreement of purchase and sale with you. We review the fine print for clauses that allow you to cancel by mutual consent or complete a professional home inspection before finalizing your offer to purchase.

If a registered home inspector finds visible or hidden defects in a home you want to purchase, your Axess Law real estate attorney liaises with the seller’s lawyer on making repairs. Find a registered home inspector in Ontario. 

Your Axess Law virtual real estate lawyer searches title to properties for a contractor lien or other financial encumbrances that can delay your home purchase. We negotiate with the seller’s lawyer to remove a construction lien before title is transferred to you. Using a mortgage lawyer.

Affordable Real Estate Lawyers, Anywhere You Are

Access lawyers for less in the Greater Toronto Area, Ottawa, or anywhere that you buy, sell, or transfer property in Ontario. Axess Law’s flat fee real estate lawyers are affordable, and our rates are all inclusive (excluding taxes, disbursements, and third-party charges). Axess Law offers you only the legal services you absolutely need. Your final invoice includes no surprises or hidden charges. Your itemized statement of adjustments is explained when we deliver it, and we answer any questions you have about it.

Get flat rate real estate law services.

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Book appointments quickly with our easy online form. Call our 647-479-0118 lawyer line or toll free to 1-877-402-4207 to locate Axess Law real estate lawyers near your community. We have day or evening appointments for your convenience, with onsite parking and easy transit access. You can even close real estate transactions from the comfort of your home, anywhere you are, with our virtual real estate lawyers

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