There is no doubt that for those who are considering moving to a whole new city, Toronto ranks among the top options. One of the main reasons for this is the fact that Toronto is known to be a safe place to live in. Compared to most other major cities, the crime rates in Toronto are very low. For instance, in 2019, Toronto, the capital city of the Canadian province of Ontario was ranked as being the 6th safest city in the world by the Economist Intelligence Unit.
This city is a very diversified one which offers a myriad of benefits and opportunities. There are also several great neighborhoods, allowing real estate options in Toronto to be very good possibilities.
The west side of Toronto used to be very popular, but over the past few years the east end is becoming increasingly sought after. Needless to say both have their respective pros and cons and at the end of the day it is up to your preferences and lifestyle that will dictate which neighbourhood is most suitable for you and your family to live in.
Our aim here is to offer you a better idea of the various Toronto neighborhoods, in an attempt to help you make up your mind which could be the best options for you. This guide should also prove helpful as you browse Real Estate in Toronto.
The rental market in Toronto can be said to be quite competitive. The demand is evidently there, and so the supply needs to be present, with many landlords doing their best to outperform their competitors. Rents in Toronto tend to be dependent on the size of the property and its amenities, rather than on the neighborhood. Most areas offer real estate at very similar rents. Having said that, the downtown core, and areas such as Rosedale/Summerhill and King West will surely demand higher rental prices.
One of the safest and most family friendly neighbourhoods is Danforth-Greektown, on the east end. Other great options include Bloordale Village, Bloor West Village, Corktown and Leslieville, Some other neighborhoods such as Kensington, King West, Little Italy, Dovercourt, Yonge & Eglinton, are renowned for their nightlife and shopping opportunities, which are often given importance by younger people.
It is also important to point out that despite the fact that Toronto is not the capital city of Canada, it is however the most populous city. Moreover, Toronto offers so much diversity in terms of multiculturalism. There are over 140 spoken languages and dialects, across the numerous neighbourhoods and districts of this lovely place. Many consider Toronto as being synonymous with diversity, and if you are the kind of person who places value on this aspect there is on better place to live in than Toronto.
Another advantage of living in Toronto is the fact that salaries are quite high in relation to other places. And this is important as relatively speaking, Toronto can be quite an expensive place to live in as the cost of living is a bit high. This is something that is quite normal in global metropolises, but at least in Toronto you can basically rest assured that you should be able to find a well paying job. As a result you should not find it a problem to lead a decent lifestyle if you decide to settle in there.
Obviously the major cost you will be incurring is related to housing. Housing costs can be exorbitant, but you can find reasonably priced options too. To give you an idea of the real estate in Toronto, you can expect to find prices for apartments at around C$1,100 per square foot. In the case of houses, prices range around the C$900,000. If you prefer renting, generally most rental prices for a one bedroom apartment are around C$2,000 per month. In the case of a family looking for a three bedroomed apartment you will need around C$3,500 per month.
So, considering this you really need to focus on getting a job that can allow you to see to the housing costs accordingly, as well as lead a good lifestyle. The good news is that you will be able to find several well paid jobs, especially in Ontario which is an amazing financial and commercial center. Average monthly net salaries are around C$4,000, and so with some good planning and budgeting you will be able to live comfortably.
Considering that Toronto is one of the best places to live in when it comes to safety and wellbeing, it is worth considering the various aspects associated with settling in there, so that you can make a good choice according to your budget and lifestyle. As mentioned earlier, there are numerous neighborhoods to choose from, each with its respective pros and cons. It is therefore a good idea to take the time to research what each neighborhood can offer, as well as take a look at the real estate prices in relation to your salary.
And on the same lines it may be helpful to point out the issue of transportation. Obviously traveling to work and back every day is something that would affect you considerably. Public transit in Toronto is generally quite reliable. The main options include bus, streetcar and the subway. Many people living in Toronto opt for bikes instead of driving, so you may wish to take this option into account when you look for real estate in Toronto, close to your place of work.
All in all we can safely state that there is literally something for everyone and anyone in Toronto. And while Toronto is statistically considered to be one of the safest cities in the world, if you check out comments posted by people who live in Toronto you will surely notice that many people commented about truly feeling safe, with very few mentioning any negative experiences at all throughout the years they lived in Toronto. The crime rates are very low when considering that there are millions of people living in Toronto, and so on a per capita basis there is no doubt that Toronto is indeed one of the safest cities, both in Canada as well as in the USA. We hope that we gave you some good ideas to help you get started on this exciting venture! Good luck!