Now, here's a brilliant idea! Buying a home in Toronto is prohibitive for first timers, particularly if you want to own in a central neighbourhood and condo, apartment-style living isn't to your taste (let's not even get into hating elevators, for various reasons, and the high cost of maintenance fees in buildings with them, plus swimming pools, etc.) It's also tricky to downsize to something affordable in order to keep a foot in the city, should you be thinking of retiring and getting out of dodge.
Consider this: a two-bedroom unit in a co-ownership house in The Annex for $399,000.
I think more ownership situations like this need to exist in order to keep central Toronto affordable for everyone and not just people who make scads and scads of money.
Cheers,
Vanessa
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