[Crash]

I've browsed thru the Forum and I hope I have found the best place to raise my questions. As the title states, I will soon be moving into the GTA but having only limited experience with Toronto I am unable to "fine-tune" where and what I should be looking for.

Background - Family of four (two elementary age kids) / Desire ~1700 sq ft 3+ Bdrm prefer detached / proximity to school and playgrounds are highly desirable / will be working in North York (vicinity of Young & York Mills) / price range - $350k to $450k / wife is very concerned with crime (actual or perceived)

Currently looking on MLS in: Markham (south of 407), Scarborough south-east (i.e. Guildwood / West Hill) and east (river rouge), south Woodbridge, Mississauga, and Milton.

Questions:

Buy vs Rent - Given the flattening out of the market I need to raise this question particularily since I will likely only be staying in the GTA for 2 to 3 years.

If buying what should I be looking for to improve re-sell ability?
Are any of the areas listed above better with regards to re-sell?

Schooling - Any issues with the above areas regarding schools - public or seperate?

Commute - What are the likely commute times (driving or TTC) for the above areas (better to come from east or west)?

Any information anyone would like to share would be appreciated. Please feel free to expand on the areas discussed.

Crash

 

[urbantor]

If your time frame is really only 2-3 years then you have almost no choice but to rent if you are concerned about losing money. Between commissions, property taxes, maintenance and other direct costs of home ownership you would literally save $1,000s per month by renting and in that brief 24-36 month period you aren't likely to see enough capital appreciation to offset those costs.

Consider searching for rental properties in the Willowdale area. It's a short distance to where you will be working and I suspect there are more than a few $500,000+ bugalows that rent for a fraction of the cost of owning. Also consider expanding your search northwest to the area off Bathurst Street between Wilson Avenue and Sheppard Avenue or possibly the area west of Yonge north of the 401.

There's no crime in these areas to speak of. I can't speak first hand of the quality of the public schools but I would suspect that they are more than adequate.

 

[Crash]

Thanks for the ideas - I will certainly check into Willowdale.

I seem to bounce back and forth on the buy vs rent fence. I am lucky in that my employer covers all commissions, legal fees and transfer taxes so that significantly reduces my ownership costs.

Crash

 

[s2kdarren]

I've browsed thru the Forum and I hope I have found the best place to raise my questions. As the title states, I will soon be moving into the GTA but having only limited experience with Toronto I am unable to "fine-tune" where and what I should be looking for.

Background - Family of four (two elementary age kids) / Desire ~1700 sq ft 3+ Bdrm prefer detached / proximity to school and playgrounds are highly desirable / will be working in North York (vicinity of Young & York Mills) / price range - $350k to $450k / wife is very concerned with crime (actual or perceived)

Currently looking on MLS in: Markham (south of 407), Scarborough south-east (i.e. Guildwood / West Hill) and east (river rouge), south Woodbridge, Mississauga, and Milton.

Questions:

Buy vs Rent - Given the flattening out of the market I need to raise this question particularily since I will likely only be staying in the GTA for 2 to 3 years.

If buying what should I be looking for to improve re-sell ability?
Are any of the areas listed above better with regards to re-sell?

Schooling - Any issues with the above areas regarding schools - public or seperate?

Commute - What are the likely commute times (driving or TTC) for the above areas (better to come from east or west)?

Any information anyone would like to share would be appreciated. Please feel free to expand on the areas discussed.

Crash

yorkmills near bayview is a nice wealthy area... low crime

 

[yyzer]

for 350-450K you can get a decent property in Mississauga or Milton..no sweat...

 

[Therion]

Based on your cost and size criteria, I think you need to look in Thornhill. I doubt you'll find anything in Willowdale for less than $500k, and even those places will be old crapholes in the 1000 sq. ft. area. Thornhill, while being a suburban wasteland, is cheaper and about as safe as you'll get in the GTA, except for spoiled brats street racing.

 

[Jarrek]

If your time frame is really only 2-3 years then you have almost no choice but to rent if you are concerned about losing money. Between commissions, property taxes, maintenance and other direct costs of home ownership you would literally save $1,000s per month by renting and in that brief 24-36 month period you aren't likely to see enough capital appreciation to offset those costs.

Consider searching for rental properties in the Willowdale area. It's a short distance to where you will be working and I suspect there are more than a few $500,000+ bugalows that rent for a fraction of the cost of owning. Also consider expanding your search northwest to the area off Bathurst Street between Wilson Avenue and Sheppard Avenue or possibly the area west of Yonge north of the 401.

There's no crime in these areas to speak of. I can't speak first hand of the quality of the public schools but I would suspect that they are more than adequate.

Pretty much a bang on assessment. If you're only staying here for 2-3 years, consider renting. You won't even recoup your land transfer tax if you buy, so buying really isn't an option unless you have $ to waste.

 

[Toronto_Lawyer]

The purchase or sale of your home is probably the most important financial transaction you make. These Toronto Lawyers offer free consultations with competent and experienced Toronto Real Estate Lawyers

 

[Observer Walt]

It would be quite a time-consuming task to commute from either Milton or the West Hill area, unless you could time your commute to avoid rush hours. I would look closer in. Willowdale is obviously close, but I think would be out of your price range as already mentioned above.

I would check the Downsview area (but not Jane-Finch), or the northerly parts of Scarborough.

 

[Crash]

Thanks to all for your comments,

I have purchased a nice house in Guildwood village. I seriously looked at renting but really prefer owning and the village offered a really nice neighborhood so I made the jump.

Cheers

 

[suv]

Thanks to all for your comments,

I have purchased a nice house in Guildwood village. I seriously looked at renting but really prefer owning and the village offered a really nice neighborhood so I made the jump.

Cheers

Crash,
good move. Nah, great move (buy low, sell high); Scarborough, up the Rouge, and along the lake are so undervalued it is a joke. Even if you leave in two years, rent it out. Your percentage appreciation over the next 15 years will rival anything else in the city.

From where you're at, only 25 minutes to downtown, and 30 minutes to Willowdale...

Not only that, the village down there is sweetly serene....enjoy.