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Toronto and the Great Toronto Area (GTA) are excellent places to live that offer plenty of advantages, but how do you know what the best areas to live in actually are? What makes a particular area or neighborhood an especially great place in which to look for a home? Here’s a quick guide to the best areas to live in when looking for a new home in or around Toronto!

Vaughan

The city of Vaughan is first up on our list. This city lies 21 km north of Toronto’s commercial center and has a population of about 288,000. Vaughan is a rapidly growing city that contains a number of great attractions including Canada’s Wonderland, which features a ton of fun rides and fun for the whole family. With plenty to do and a generally small population, Vaughan can be a great place to raise a family and enjoy a quiet suburban life. Buyers should budget about $1 million to $1.5 million to purchase a typical detached house, or somewhere in the neighborhood of $600,000 for a townhouse.

Markham

The town of Markham is about half an hour away from Toronto’s commercial center by GO Train, and it has grown rapidly in recent years, making it an interesting choice for anyone looking to move to the Toronto area. Markham’s population was about 300,000 according to the 2011 census and has grown by about 10,000 each year since. One of the most interesting things about this town is that it is basically one of Canada’s technology capitals, with offices for Apple, Toshiba, IBM, Motorola, and Sun Microsystems all present. If you are interested in moving to Markham, you’ll likely be looking at budgeting over $750,000 for a typical townhouse, or about $350,000 for a two-bedroom apartment.

Richmond Hill

Richmond Hill is a town that lies about 25 km north of Toronto’s commercial center. At the time of the 2011 census, Richmond Hill’s population was at about 185,000 and growing quite fast. Richmond Hill is an excellent place to live and raise a family. It’s also great for those who love the outdoors, as there are over 166 parks that include facilities such as nature trails, sports and athletic fields, tennis courts, picnic areas, and playgrounds. As for budgeting, you should set aside about $1.5 million to $2.5 million for a typical detached house in Richmond Hill. Semidetached homes will run you about $700,000, and a one bedroom apartment will cost about $330,000.

The Beaches

The beaches lie on the shores of Lake Ontario, only a few kilometers away from Toronto’s city center, making it a highly sought after neighborhood for many. There is plenty to do in this part of Toronto including lots of cafes, bars, restaurants. You’ll need to budget about $1.5 million for an average detached home, $850,000 or so for a semi-detached.

Leaside

Leaside remains one of the most sought-after parts of Toronto in which to live due to its close proximity to the commercial heart of Toronto and the fact that there are plenty of good schools close by. In addition to being one of the most coveted neighborhoods in Toronto, Leaside is also one of the most expensive, with a detached home going for about $2 million and an average townhouse being about $700,000.


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