It’s no secret that real estate prices have increased dramatically over the last few years. While this is true for most cities, Toronto’s housing values have really skyrocketed. Many Torontonians who are currently renting would love the chance to buy their own place, but just can’t afford it – even with a high income and substantial savings.
Or, what they can afford is either about the size of a shoebox or looks like it is straight out of a horror movie! Just a word of warning: if you see what appears to be a charming listing in Toronto for an “affordable” price, let the buyer be aware. One person’s version of reasonable is another’s definition of insane. Affordability, like beauty, is in the eye of the beholder. For Toronto buyers, it could mean putting up a mere $1.5 million or more for a detached house!
Does this mean you have to say goodbye either to your dynamic lifestyle or your dreams of one day owning a house of your own? Not if you consider moving to Guelph, where you can have it all. In this post, let’s take a closer look at what the Royal City has to offer compared to Toronto.
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A Short Commute
If you’re worried about missing all of the great events, shopping, dining, and entertainment options in Toronto, don’t be. You’ll find most of what you’re looking for right in Guelph. And if you really have your heart set on a particular Toronto attraction, or decide to keep your job there, it’s an easy enough commute.
Driving from Guelph to Toronto typically takes about an hour via Highway 401 – depending on traffic! Alternatively, you could hop onto the Go Train, which makes it easy to get back and forth.
What does living in Guelph look like? The posts below will give you some ideas:
- Is Guelph, Ontario, a Good Place to Live?
- 5 Reasons to Make Guelph Your Next Home
- What Are the Best Guelph Neighbourhoods for Families
A Strong Economy and Excellent Schools
As home to the University of Guelph, the City of Guelph offers a strong economy and a thriving job market. Manufacturing and government jobs provide stable, high paying opportunities for many families. If you’re a Millennial or GenZer with a bright career ahead of you, Guelph could just be the best place to put down roots.
Needless to say, parents of young children are also thrilled with the options for education in the city. Public schools are under the Upper Grand District School Board, which serves approximately 35,000 students and their families. You also have a selection of Catholic and French schools, as well as a variety of private alternatives that come with high ratings.
Lots of Green Space
Move over, Toronto; Guelph is also known for spectacular greenery, with plenty of beautiful parks scattered throughout the city.
Riverside Park offers breathtaking scenery and, as the name suggests, stunning riverside views. If you want to get close to nature without disrupting the ecosystem, take a stroll through the meadows and wetlands along the boardwalk of Preservation Park. Let’s not forget Guelph Lake Conservation Area, which is one of the best hotspots around to bask on the beach while enjoying a leisurely afternoon.
One of the most beautiful spots in the city lies right on the university campus. If you visit the Guelph Arboretum any day of the year, you’ll see why it has become such a beloved attraction. The grounds are open daily, where you can explore an incredible 400 acres of gardens, walking trails, woodlands, wetlands, and meadows.
More Affordable Real Estate
Owning a house is one of the best ways to protect your equity and grow your net worth – even during times of economic uncertainty. Housing values have risen in Guelph, but it’s still a far more affordable market than Toronto.
Sometimes, it’s about the ability to buy a house at all rather than renting for the foreseeable future, a goal that’s far more attainable in Guelph. Other times, it’s about getting more for your dollar. Entry-level buyers in Toronto are often limited to tiny condos with few opportunities to renovate or upgrade.
With a similar budget and some market research, you might be able to buy a detached home in Guelph, adorned with outdoor living space, a garage, and a private driveway. Wherever you’re starting out, you’ll typically have more options and greater purchasing power here than in Toronto or the GTA.
Are you looking for more great advice for first-time home buyers? Look no further than the posts below:
- The Ultimate Guide for First-Time Buyers in Guelph
- Real Estate 101 for First-Time Buyers
- What’s the Fastest Path From Broke Student to Homeowner?
A More Secure Lifestyle
More affordable real estate comes with another benefit younger buyers may not even be thinking about: the ability to create equity. Instead of paying rent every month, you’re paying down a mortgage, which means your financial stability grows with each installment.
As a tenant, rising real estate values work against you as rents become more expensive. As a homeowner, you gain even more equity, with no worry about the landlord raising the price or deciding they want the home for themselves. Once you get one foot on the property ladder, you’re well on your way to greater financial security, and Guelph is one of the best places in Ontario to take this celebrated step.
Interested in seeing more of what Guelph has to offer? Our top Guelph real estate agents are happy to show you the ropes! Contact us today at info@gowylde.ca or call 519-826-7109 for more information.
