The Greater Toronto Area has a population of over 6 million people, making it the biggest city in Canada.

So, it may be high on your list when you’re looking for a place to buy a home.

But, you should know what it’s like, and what your real estate options are before you get your heart set on it. Keep reading this article to learn about living in Toronto and what the real estate market is like.

The Cost of Living in Toronto

If you’re thinking about moving to Toronto, you need to take the higher cost of living into consideration. While costs are lower than major American cities like New York City, rents are high and rising. So, if you’re coming from a small town, this is a major factor to keep in mind.

And, food isn’t cheap either. The price is food is rising around the world, not just at restaurants but for groceries as well.

Neighborhoods in Toronto

The Toronto neighborhood you choose to live in will affect your real estate options. Some are much more expensive than others. Some may offer lots of options when it comes to condos, but nothing in terms of single-family homes.

Some of the top neighborhoods you might want to consider include:

• Yorkville
• Parkdale
• The Annex
• Chinatown
• Little Italy
• The Entertainment District
• Little Tibet
• Koreatown
• The Distillery District

You’ll want to visit these neighborhoods before you commit to buying penthouses for sale. This will ensure that you don’t buy property in an area that doesn’t work for your needs.

Living in Toronto: The Experience

Beyond the cost, you’ll need to understand the general experience of living in Toronto before you make a move. Gentrification and the COVID-19 pandemic have caused major issues for different cultural hubs in the city.

Plus, there are so many great educational options in Toronto. For high school graduates, the University of Toronto and Toronto Metropolitan University are two if the best schools in the world. There are lots of smaller great colleges, too. And, the public high school and elementary school system is a top choice.

And you’ll never be bored when you live in Toronto. Head to Church and Wellesley to visit the Village for drag shows and so much more. Amazing food abounds throughout the city. Caribbean food is particularly popular in Toronto because of the large ex-pat population.

There’s more to consider if you plan to live on the outskirts of Toronto, particularly if you don’t have a car. Luckily, the public transit options in the city are better than most others. There are streetcars, subways, and even the bus available to you.

Living in Toronto: Now You Know

Hopefully, you now understand whether or not living in Toronto is right for your real estate needs.

Are you looking for more related advice? Make sure that you read through some of our other posts about real estate and so much more. 5elifestyle.