It’s almost 2020 and the ability to buy a home in Ontario seems especially bleak, especially for Millennials. As it stands, even if you have $40,000 for a down payment, good credit, a low debt-to-income ratio, and have paid your taxes, you’re looking to pay approximately $2000 a month for expenses (mortgage, taxes etc.) for a home that costs approximately $420,000. For the majority of people in Ontario that is not a realistic option and its technically for affordable to live in your parents basement.
The same goes with renting. The average cost of a 2 bedroom apartment in the GTA is $1800 to $2300 depending on how close to Toronto you choose to live. 3 bedroom apartments or townhomes are going for a minimum of $2300 to $2600.
It appears only wealthy couples can afford to rent which begs the question “why would they want to?’ There’s virtually never been a time when it costs just as much to rent as it would to purchase a home, especially if the home is costs anywhere from $400,000 to $500,000. The future of home buying is bleak.
So where can you buy a home for a reasonable price without breaking the bank or living in sketchy part of town? If you’re willing and able to relocate, and if your finances are all in check, and if you’ve got a decent down payment, you’re still in luck. There are a few cities and towns in and around the greater GTA where the price of homes are not going to put you in the poor-house.
The thing is you’ll have to go a bit West of Halton/Wentworth because there’s virtually no affordable homes to the East, all the way to Whitby and Oshawa except for Ajax which we’ll explore below.
Check out Brantford
Brantford appears to be one of the last strong-holds of decently priced and built homes. Houses in Burlington or Oakville that are selling for $700,000 are selling between $475,000 to $550,000. You can’t beat that kind of pricing.
If you’re willing to commute, you’re also in luck. There is currently a Go Train project underway that will take commuters all the way from Toronto to Brantford. If you work in Hamilton you’re only looking at a 25 minute commute; the Brantford market is great for people wanting to upgrade to a bigger home and those that are just getting into the market.
Just check out this list of homes for sale in brantford by Kate Broddick of Sutton Group and you’ll definitely be pleasantly surprised at the prices. Kate Broddick has a lot of positive things to say about the Brantford real estate market, and shared her thoughts on CHCH morning live a few weeks ago.
According to Kate;
“The Brantford real estate market has been stable for buyers and sellers“
Why buy a home in Brantford
If you’re looking for a safe city, with a low crime rate, and a variety of home builds, Brantford is the city you should definitely explore.
Explore Homes in Norfolk Haldimand
Norfolk is steadily growing and turning into an extremely coveted area of Ontario to live in. The prices are on average $20,000 to $50,000 cheaper than homes from Burlington all the way to Pickering, and the quality of the homes are the kind you’d expect from well-built million dollar homes. This applies mostly to new homes which are quite comparable to new home builds East of Hamilton towards Ottawa.
There are plenty of family-oriented suburbs like those you’d expect to see in big cities, but Norfolk is surrounded by lush forest, farms, and offers a quiet and safe community to live in.
Norfolk is definitely and growing and thriving community. The western Haldimand County has mid-priced single-family homes that come in range of prices and condominiums are frequently being built.
The Haldimand economy is steadily growing too with various services including the Economic Development and Tourism departments providing assistance and support to help investors and local businesses thrive.
Adult and Family Activities
Norfolk-Haldimand has a local museum, several parks, sports fields, walking paths, picnic areas, beach areas, campgrounds, and family picnic grounds.
The western section of Haldimand County is made up of residential areas, agricultural areas, and you’ll find churches, post offices, shops, restaurants, schools, a hospital, a police station, an arena, libraries, government offices, and community centres. There is even a fire hall, a medical centre and even a zoo.
Haldimand county has a population of 44,000 and growing, and enjoys the Grand River, Nanticoke Creek, Mill Creek, and Dry Lake.
Most Affordable Locations to Buy a Home in Norfolk-Haldimand
The following is a list of areas in Norfolk-Haldimand where new homes are being built at surprising prices:
- Simcoe
- Waterford
- Caledonia
- Delhi
- Norwich
Currently there are no plans for rail-transportation from Norfolk-Haldimand to downtown Toronto, but there is a reliable local transit system that runs from Simcoe to Delhi to Langdon.
Ike Keesmaat – a prominent homebuilder in Norfolk – and president of Keesmaat Homes says:
“We’re finding about 50% of our customers are coming from central GTA cities like Mississauga, Toronto, with a majority coming from Halton and Hamilton. It looks like customers are getting fed up with the high home prices in the big cities and are realizing they can get much more in Southwestern Ontario for the same prices.”
If you’re looking for a growing area of Ontario to move in that’s safe and offers a variety of new home builds, get Norfolk-Haldimand on your radar.
Inquire About Ajax
Unless you want to live in a truly rural area of Ontario the last remaining stronghold of affordable new and preowned houses for sale, take a look at Ajax Ontario.
Ajax is not as large as the city of Brantford or Norfolk-Haldimand county, but it does have the typical desired amenities – suburbs, schools, a hospital, parks, transportation, shops, shopping malls, communities centres, and an amazing waterfront park.
Ajax is approximately 35kms from downtown Toronto, and there are Go Busses that commute downtown workers back and forth. It’s not one of the most desirable cities to live in compared to its surrounding cities Pickering and Whitby, but its still a growing town with an enthusiastic community that gets involved in business events, council meetings, seasonal programs, and the local government provides an array of business services and support programs.
A typical-sized home in Ajax is going for approximately $480,000 to $560,000 while the same home will run you upwards of $700,000 to $1,200,00 in Toronto, and between $650,000 to $800,00 to the immediate east and west of Toronto.
The range of home prices in Ajax are similar to those in Burlington, but about $15,000 to $20,000 cheaper. Check out these real estate sales trends for Ajax for a comparison of Ajax vs average GTA home prices.
Home Buying in Rural Areas Outside the GTA
If you’re not attached to living in the GTA you can opt in for living out of province or in rural areas.
There are an abundance of affordable homes in such areas as Grand Valley, New Tecumseth, Wellington North, Stratford, Bowmanville and if you’re lucky and are willing to live near Niagara, you’ll find a good deal in Port Colborne.
Finding an affordable home in Ontario is not impossible yet. It’s difficult, time consuming and even frustrating, but if you’re willing to step out of your familiar surroundings and comfort zone, you can find a pretty amazing deal on a new home in a brand new community.
