West Toronto real estate is full of incredible options for home buyers! Gorgeous century homes, modern new builds, and elegant condos are just a few structures that line the streets of nearly every West End neighbourhood.

Though Toronto home prices tend to be higher than elsewhere, there are ways for those with modest budgets to enter the market. Despite what you might think, condos are not your only choice if you’re looking for a reasonable price. For buyers who want a little more space and independence, a Toronto townhouse just might be the ticket.

Townhouses are also somewhat of a niche residential property. Lying somewhere between a condo and a freehold home, they can offer the best of both worlds. They come with unique perks and disadvantages—and they can attract unique buyers, too!

Do you think this property type makes the most sense for your current lifestyle? Read on to learn what every prospective townhouse owner should know before they buy.

Are you getting ready to venture into the exciting world of West Toronto real estate? Our Buyer’s Guide will be an invaluable resource! Download yours for free right here.

Freehold Versus Condo Townhouses

When discussing townhouses, it’s important to distinguish between the two major types. Freehold townhouses (also referred to as row houses) are attached to at least one other unit from the same development. Generally, they have a larger up-front purchase price than condo options. They’re perfect for homeowners who want complete autonomy over their property.

The benefits of a freehold townhouse are no condo fees, and you have more freedom to renovate your home to your tastes – as long as you don’t disrupt your neighbour’s enjoyment of their property. On the downside, remember that you will have to take care of the yard work and keep the driveway and walkways clear in the winter. If the roof leaks, there’s no property manager to call. You’ll be the one to arrange and pay for any repairs. Then again, you also don’t have to worry about special assessments.

In contrast, a condo townhouse comes with management, a condo board, and development fees. For buyers looking for a more hands-off approach to up-keep and general maintenance, condo townhomes may be the more attractive option. The main disadvantage to be aware of is that condos could come with special assessments, which is why due diligence is necessary. There will also be a monthly condo fee. However, you may not mind as you sit inside and stay warm and cozy while management is outside clearing the snow.

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Townhouses can be the perfect option when downsizing in Toronto! Speaking of downsizing, you’ll find plenty of helpful resources in the posts below:

• Your A to Z Guide to Downsizing in Toronto
• Is it Better to Downsize Before Retirement?
• 9 Questions to Ask Yourself Before Downsizing

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The Cost Efficiencies of Townhomes

Generally speaking, almost every townhouse is marketed and sold as a finished product. While you may be able to purchase units during the pre-construction phase, they tend to be sold with little-to-no renovations or updates necessary. This is good news for buyers who want a turnkey experience. There’s nothing to do but move in! Just keep in mind that you will likely want to do some upgrades eventually, so be sure to set aside some savings for renovations and repairs.

If you’re transitioning from a condo to a house, townhouses are fantastic stepping stone—and they typically far more spacious. You get more space and an equally convenient lifestyle (presuming you choose a condo version.) Often, you can get as much square footage in a townhouse as you would in a detached home, and at a much lower price point, too.

Additionally, sharing one or both party walls with neighbours means you may find yourself saving on heating costs through the winter (since the home next door may provide additional insulation and heat emittance).

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Wondering what West End Toronto neighbourhood is right for you? Our “best of” series might help you decide:

• Best Toronto Neighbourhoods for Entertainment Lovers
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• Best Neighbourhoods In Toronto For Young Families

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Numerous Family Planning Benefits

A lower barrier to entry means Toronto townhouses have become something of a natural stepping stone for young couples and families looking to expand. With multiple storeys, deck and basement spaces, and private outdoor areas, townhouses are a great place to raise children. More space means everyone can live together a little more peacefully, and there’s no long elevator ride to get to the ground floor every time you need to step out for errands.

Gardens in your front and backyard are much better places for kids to play than condo hallways and elevators. Similarly, pet owners no longer have to fear regulations about where their dogs do their business.

When buying a home in Toronto, understanding appraisals can be critical. Learn all the essentials in our post What Buyers and Sellers Should Know About Bank Appraisals.

Resale Value

Townhouses tend to be in desirable locations, usually situated in areas that have been developed or are developing into highly livable neighbourhoods. This also means they have a higher resale value and return on investment.

The total price will depend on various factors, such as how many people are selling townhouses compared to those looking to buy them. When demand is high, prices are often at a premium, while still being far more accessible than a detached home. If demand is low, your real estate agent can help you negotiate a deal!

The type of property will also factor in. Toronto has new townhouses, older townhouses, and some that are still in the pre-construction stages! Typically, a newer build will cost more, but there could be some exceptions.

However you look at it, a townhouse can be an excellent financial investment. You can get into the market at a lower price and begin building equity on rising real estate values. Getting in now could substantially increase your purchasing power when the time comes to upgrade.

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Looking for more tips on getting the best value when buying a home in West Toronto? The posts below can help:

• 5 Little Known Things to Look For When Touring a Home
• 5 Questions to Ask About a Home Before Making an Offer
• Should You Buy a Pre-Construction Condo?

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More Space, More Responsibility

If you are set on living in a low-rise establishment and dread the idea of “a box in the sky”, townhomes are a cost-effective hybrid of freehold homes and condos.

With virtually guaranteed outdoor space in the back and front yards, deck space and terraces, and rooftop gardens, townhomes are much better for living and entertaining outdoors than condos. However, they tend to require more up-keep.

If you’re accustomed to living in a condo or apartment complex, then shovelling snowy driveways and sidewalks will be a new duty for you (if you end up with a freehold unit.) Learning to remember when garbage, recycling, and compost days are scheduled for pick-up is another task to keep in mind—not to mention physically wheeling your own bins out to the curb and back every week. While there may be a learning curve involved, most townhouse owners will tell you it’s well worth it!

Are you interested in becoming the new owner of a stylish townhouse in Toronto? Tell us all about your wishlist by booking a consultation with us here. Give us a call at 416-769-3437 or email info@sidorovainwood.com to get started.