What is the first step when buying a property in Toronto?

Start by securing a mortgage pre-approval. This helps define your budget and strengthens your offer when negotiating with sellers.

Do I need a real estate agent to buy a home in Toronto?

While not mandatory, working with an experienced REALTOR® provides access to exclusive listings, expert negotiations, and local insights on Toronto’s dynamic market.

How long does the home-buying process take in Toronto?

Typically 30–90 days from offer to closing, depending on financing, inspections, and whether you’re purchasing a resale or pre-construction property.

What documents do I need to buy a home in Toronto?

You’ll need your mortgage pre-approval, valid ID, proof of income, deposit verification, and lawyer’s contact information to complete the purchase process.

What are the closing costs for buyers in Toronto?

Expect 1–4% of the purchase price for land transfer taxes, legal fees, title insurance, and adjustments such as prepaid property taxes or utilities.

How competitive is Toronto’s real estate market right now?

Toronto remains competitive, especially for condos and well-located homes. However, rising inventory has created more opportunities for buyers in 2025.

Are condos a good investment in Toronto?

Yes — Toronto condos often appreciate steadily and generate strong rental demand. Focus on transit-accessible and high-growth neighbourhoods for best results.

What neighbourhoods are best for first-time buyers in Toronto?

Leslieville, Liberty Village, The Junction, and East York are great options for first-time buyers seeking affordability and lifestyle convenience.

What’s the difference between buying resale and pre-construction condos?

Resale condos allow immediate occupancy, while pre-construction units offer time to save and potential appreciation before completion, but require longer timelines and deposits.

Can non-residents or foreign buyers purchase property in Toronto?

Yes, but there are specific tax rules and restrictions under Canada's Foreign Buyer Ban. Consult a licensed realtor and lawyer for updated guidance before purchasing.

How much down payment do I need to buy in Toronto?

The minimum down payment is 5% for homes under $500,000, increasing to 10–20% for higher-priced properties depending on the purchase amount.

Are there programs for first-time buyers in Ontario?

Yes — programs such as the First-Time Home Buyer Incentive, Land Transfer Tax Rebate, and Home Buyers’ Plan (HBP) help reduce upfront costs and make ownership more attainable.

Do I need a lawyer to buy a property in Toronto?

Yes. A real estate lawyer reviews your Agreement of Purchase and Sale, ensures clear title, and handles closing documents and fund transfers.

How can RE/MAX Plus City help me buy a property in Toronto?

RE/MAX Plus City offers full-service buyer representation, including neighbourhood tours, offer strategy, mortgage guidance, and end-to-end support from search to closing.

How do I start working with your team?

Simply fill out the buyer consultation form on remaxpluscity.com or call 647-259-8806. A licensed REALTOR® will connect with you to start your Toronto property search.

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Toronto Downtown Living: Exploring Waterfront Condos and Financial District Condos

Posted on November 24, 2025 by RE/MAX Plus City

Toronto downtown remains one of the most desirable places to live in the city. From the lakefront to the heart of the business core, buyers and investors look here for convenience, transit access, and steady long-term value. Two areas consistently stand out: the waterfront condos along Queens Quay and the Financial District condos surrounded by office towers, cafes, and transit hubs. Each offers a different lifestyle, but both are strong choices for anyone who wants to experience the best of Toronto downtown living.

Living in Toronto Downtown

Downtown living appeals to people who want everything close by. Restaurants, TTC lines, fitness studios, coffee shops, nightlife, and daily essentials sit within minutes of most condo buildings. Whether you work in the core or simply enjoy walkable neighbourhoods, Toronto downtown gives you immediate access to daily conveniences and a strong urban lifestyle.

This demand has kept downtown condos competitive year after year, making the area a reliable choice for both homeowners and investors.

Waterfront Condos: Scenic, Modern, and Connected

Toronto’s waterfront has transformed into one of the city’s most attractive residential zones. Living by the lake gives you access to scenic walking trails, relaxing green spaces, and a calmer pace compared to the dense centre of downtown. Many waterfront condos offer bright layouts, modern amenities, and lake views that add long-term lifestyle value.

You’re still steps from transit, with the Queens Quay streetcar connecting directly into the core. It’s an ideal choice for people who want a mix of nature, city living, and modern condo design.

Financial District Condos: The Ultimate Urban Convenience

While the waterfront offers calm, the Financial District condos offer efficiency. This area is built for professionals who want to walk to work, access the PATH network, and enjoy unmatched transit connectivity. Living here means you can reach offices, restaurants, banks, gyms, and transit lines in minutes — sometimes without stepping outdoors at all.

Financial District condos are also rental favourites. Young professionals often target this area for its convenience, which helps units here maintain strong rental performance and solid resale value.

Choosing the Right Area for Your Lifestyle

If you’re deciding between the two, think about what matters most to you.

If you value views, outdoor space, and a calmer everyday routine, the waterfront delivers a balanced lifestyle with easy access to parks and the lake.

If you want the shortest commute possible, the fastest access to transit, and a location that always stays in demand with renters, the Financial District stands out as the more practical option.

Both are strong choices within Toronto downtown, and both offer long-term stability for buyers and investors.

Conclusion

Whether you’re drawn to the scenic appeal of waterfront condos or the unmatched convenience of Financial District condos, Toronto downtown offers some of the strongest real estate opportunities in the city. These neighbourhoods continue to attract steady demand, making them ideal for homeowners and investors who want long-term value and a vibrant urban lifestyle.

FAQs

1. Are waterfront condos more expensive than Financial District condos?

Prices vary by building, view, and layout. Waterfront units with lake views tend to command a premium, while Financial District condos often gain value through convenience and rental demand.

2. Which area has stronger rental demand?

Both perform well, but Financial District condos usually attract more corporate and long-term professional renters due to proximity to offices and the PATH network.

3. Do waterfront condos have higher maintenance fees?

Fees vary by building. Larger amenity spaces and premium views can influence overall costs.

4. Is the waterfront better for first-time buyers?

First-time buyers often prefer the waterfront for its lifestyle appeal and slightly calmer environment, while investors lean toward the Financial District for stronger rental returns.

5. Which area appreciates better over time?

Both have strong track records. Waterfront condos benefit from limited lakefront land, while Financial District condos benefit from being in the economic core of Toronto.