David's Blog

head_left_image

There are other 905 's Eh

Elfie Hayes Mortgage Intelligence Oshawa

You started a life in Toronto;  your condo selection was based on Price and Proximity to your office.
Now we telecommute, Now you have a family.   New Land Transfer Taxes are punitive to second time buyers and your bang for the buck is higher in the 905's.

The OTHER 905's Eh,

Torontonians looking to escape the city for the suburbs often look west of the city to areas like Brampton, Mississauga,Oakville and Milton, but as some are finding out there is a land beyond Scarborough with much to offer buyers looking for a little more space and a smaller mortgage.

Comprised of 8 municipalities, DurhamRegion, with its population over 600,000, has long lagged behind the boom that started west of the city in the 1970’s, but with a commute from Pickering taking no longer than a compute from Mississauga many people, particularly first time buyers, are looking east.

For many cost is a deciding factor in the decision. With the average price in Halton Region hitting $561,559 in 2012 according to the Toronto Real Estate Board, Durham Region is much more affordable with an average cost of $338,991 in the same time period. Peel sat in the middle with an average sale price of $408,187. The difference between pricing of a typical first time buyer home is even greater with a townhome averaging $322,800, $310,400, and $202,300 for Halton, Peel and Durham respectively. That over $100,000 difference between East and West!

Growth potential is another reason buyers are considering the area. With new home projects throughout the region, the 407 extension planned to cross the region in two phases and burgeoning  University in Oshawa the region is improving rapidly. Whitby for example saw a 34.37 increase in sales in 2012 year over year according to TREB Market Watch while sales in Clarington (comprised of Bowmanville, Newcastle, and Courtice) were up nearly 24%.  And this at a time where the Toronto Real Estate Board total sales only inched by barely 1%!

Quality of life is another factor many buyers consider. While still a commutable distance to Toronto,  Durham Region in general offers a slightly quieter life with more green space, less traffic, and less developed land. While far from being the middle of nowhere (The Oshawa Census Metropolitan Area is one of the larger in Canada) it does offer some space to breathe. This is partly to do with its population density which is less than half that of Halton’s and a quarter that of Peel’s.

At the end of the day Durham has a ways to go playing catch up with its rivals to the West, but for the first time in many years it has started to become a real competitor and buyers have started to notice that the value, quality of life and potential of Durham Region make it a great place to call home. 
 
Mike Bouma is a second generation broker with with RE/MAX Ability in Oshawa, Canada. Visit Mike at http://www.bouma.ca/ for more information on <a href="http://bouma.ca">Oshawa real estate</a> 
Mike can be contacted directly at 905 434 5452

Are you ready to escape to the 905?



David Pylyp

Etobicoke Real Estate Agent

Accredited Senior Agent for York Peel and Halton Regions

Lives in Toronto and promotes Giving Value

As we move forward It would be good if you also circled me on Google +
https://plus.google.com/109283965469179719942/posts

Comment balloon 2 commentsDavid Pylyp • January 28 2013 08:52AM
There are other 905 's Eh
share
Elfie Hayes Mortgage Intelligence Oshawa You started a life in Toronto; your condo selection was based on Price and Proximity to your office. Now we telecommute, Now you have a family… more
Are you a Joiner? Toronto Women's Prosperity Group
share
Celebrate, Mastermind & Grow with WPG! Women’s Prosperity Group (WPG) is a true “Network” of extraordinary women who are committed to excellence in every area of their lives. WPG is the community where you can “Be Real, Get Real… more
Selling with Laughter - The Lighter side to Mortgages
share
Veronica Thompson with Mortgage Alliance shared the newest marketing video with me. Absolutely had me howling with Laughter at the Happy Dances and Actual injuries that occur during the celebratory We Got approved for the Mortgage Happy Dance! &… more
Do I need to match the commission if my Service is different?
share
Overhead at the Bank Recently ” We charge 2% for Currency Exchange to convert $US Dollars to Canadian Funds. The discount to 1. 5% applies on currency conversions in excess of $100, 000. That event / service can occur in one second. Our… more
Your Parents Haven't answered the Phone in days
share
We have all overheard the conversations. What would you do? Where do you turn first? Can you offer a name that helps? You talk at the Office Water cooler… How many days will pass that your Mom and Dad… more
The Acronym for 2013 is SEO - Search Engine Optimization
share
By now you have realized that the new Yellow Pages Directory is the Google browser search window for finding businesses and information. So, to be found in the internet; you optimize your sites, videos and information. … more