Should I Buy A House Or Condo?

Should I buy a house or condo? is a common question amongst buyers. When it comes to making one of the biggest decisions in your life, whether buying a house or condo, there are a lot of things to consider.

Which is the right choice for you? Here’s a look at some of the pros and cons of each option:

What Are The Benefits Of Buying A House Vs A Condo:

When it comes to finding a place to call home, there are a lot of factors to consider. For most people, the decision boils down to one simple question: should I buy a house or condo?

While both options have their pros and cons, there are a few key benefits that come with owning a house. For starters, houses typically offer more space than condos. If you have a growing family or frequently entertain guests, this can be a major selling point. In addition, houses usually come with private outdoor spaces like yards and patios. This gives you a place to relax and enjoy the outdoors without having to share it with your neighbours. Finally, historically speaking, houses in Toronto tend to appreciate in value at a higher rate than condos. So if you’re looking for an investment property that will give you a good return down the road, buying a house is likely the better way to go.

Should I Buy A House Or Condo?

What Are The Benefits Of Buying A Condo Vs A House:

When you’re in the market for a new home, you have a lot of different options to choose from. One option you might consider is a condo. But what exactly is a condo, and how does it differ from a traditional house? For starters, condos are usually part of a larger development or community. This means that you’ll have access to shared amenities like pools, gyms, and playgrounds which you may not have access to in a freehold home. You’ll also be responsible for paying monthly dues, which go towards maintaining these common areas. Another key difference is that with a condo, you’ll typically only own the space inside your unit along with your parking and locker (this isn’t always the case though). The exterior and any shared areas are owned by the Condo Association. This can be an advantage if you don’t want the responsibility of maintaining a yard or making repairs to the outside of your home. When it comes to price, condos typically cost less than houses in comparable neighbourhoods. So if you’re looking for an affordable option, a condo might be right for you. There are also a number of other benefits that come with owning a condo, like added security and the convenience of simply locking your front door when you leave for vacation. So if you’re weighing your options between buying a condo or a freehold home, be sure to keep all of this in mind.

Should I Buy A House Or Condo?

Below is a list of some of the top Toronto neighbourhoods for both homes and condos. You can click on each link to view the current available listings for each neighbourhood. Unfortunately, not all available listings will appear, so if you don’t see anything that meets your criteria or budget, contact me and I will set you up on a no obligation automatic email update that will send you a custom list of newly available properties that meet your specific criteria each day as they come to market. You will often receive new listings before they show up other sites such as REALTOR.ca, giving you a head start against other buyers. The best part is that this service is that it’s completely free for you.

Top Toronto Neighbourhoods To Consider For Homes

The Beaches

The Upper Beaches

Birch Cliff

East York


South Riverdale

North Riverdale


Moore Park

Deer Park




Top Toronto Neighbourhoods To Consider For Condos

The Distillery District

St Lawrence

Toronto Harbourfront

King West

Trinity Bellwoods

Fort York



Deer Park



Are you thinking about making a move, do you have questions about the current market? Contact me any time with your questions or to discuss how I can help you achieve your specific real estate objectives. I’m always happy to help.

Top 10 Patios In The Beaches - Toronto

It’s that time of year, the time of year when the air is getting warmer, the days are longer and people are excited about getting outside after a long winter. Spring and summer are the perfect seasons to enjoy a meal outdoors on a restaurant patio with friends and family. Whether you’re looking for an early morning breakfast, lunch or a romantic evening of drinks under the stars, patios provide the perfect setting to relax and take in the fresh air while enjoying good food and company. As someone who lives and works in The Beaches area, I love the many different patio options available during the summer months. There are many restaurants in The Beaches with great patios and each one has its own unique charm. I’ve included my list of the top 10 patios in The Beaches (in no particular order).


#1 The Stone Lion

The Stone Lion is one of my personal favourites. With two separate spacious patios, outdoor TV’s and great service and food, this is definitely one of the best patios in The Beaches.

1958 Queen Street E

Toronto, ON



Instagram: @stonelionpub


#2 Riptide Beach Pub

Riptide Beach Pub offers an expansive patio with great food and drinks.

1980 Queen Street E

Toronto, ON


Instagram: @riptidebeachpub

Top 10 Patios In The Beaches


#3 Outrigger 

Whether you are looking for pleasant patio to enjoy a weekend breakfast on or you are looking to unwind over some evening cocktails, Outrigger has a great patio for both.

2232 Queen Street E

Toronto, ON



Instagram: @outriggerto


#4 Beaches Brewing Company

The Beaches Brewing Company is a great place to enjoy some locally brewed beer as well as some delicious pub food. With an open air front and a street level patio that they set up each summer, it’s a great place to enjoy the nice weather.

1953 Queen Street E

Toronto, ON



Instagram: @beachesbrewco


#5 Gull And Firkin

Whether you are looking for a place to have dinner and drinks or you are looking for a lunch spot. The Gull and Firkin has a great patio that includes several outdoor heaters as the temperatures get cooler later in the year.

1943 Queen Street E

Toronto, ON



Instagram: @gullandfirkin


#6 Murphy’s Law

With one of the only rooftop patios in The Beaches, Murphy’s Law is a great place to unwind and enjoy food and drinks while enjoying views of the city and the surrounding Beaches neighbourhood.

1702 Queen Street E

Toronto, ON



Instagram: @murphyslawto


#7 The Beacher Cafe 

The Beacher Cafe is one of the most popular spots in The Beaches for brunch. During the spring, summer and fall months, they have a very picturesque patio arrangement that almost has a European feel. They serve breakfast/brunch, lunch and dinner and there is plenty of seating.

2162 Queen Street E

Toronto, ON



Instagram: @thebeachercafe


#8 Toronto Beach Club 

Toronto Beach Club  is like being in LA, Toronto and the Mediterranean all at once. If you are looking for gourmet food and upscale atmosphere, this is your spot. Make sure you call ahead of visiting as you may require a reservation.

1681 Lake Shore Blvd E

Toronto, ON



Instagram: @torontobeachclub


#9 Mira Mira Diner 

This stylish diner is a great place for brunch, lunch, diner or simply drinks on the patio with friends or family.

1963 Queen Street E

Toronto, ON



Instagram: @eatmiramira


#10 Sauvignon Bistro & Bakery 

If you are a fan of french cuisine, this is the spot for you. With a charming patio and delicious food and drinks, you won’t be disappointed.

1862 Queen Street E

Toronto, ON



Instagram: @sauvignonbistro


Hopefully this list of the top 10 patios in The Beaches has been helpful and provides you with some options that you may want to consider trying.

Are you thinking about buying or selling in The Beaches or do you have questions about the current market? Contact me any time with your questions. I’m always happy to help.

Toronto real estate market (March 2022)

In the face of daunting obstacles, the Toronto and area residential resale market produced stellar results, albeit not the stratospheric results achieved during the same period last year. In the face of rising interest rates, the war in Ukraine and its global consequences, government legislation primarily directed against foreign buyers and investors, and a desperate lack of inventory, the Toronto and area market produced the third-best March and the second-best first quarter on record.

Any comparison with March 2021 is almost pointless. During the first quarter of 2021, the resale market was being driven by the frenzy of the pandemic, causing indiscriminate buying, particularly in suburban and secondary markets. Even without all the obstacles, the market is currently experiencing that level of activity was unsustainable.

In March, 10,955 properties were reported sold, almost 30 percent fewer than March of last year, but as indicated above, still the third-best March on record. As a clear demonstration of how strong the market was in March, the average sale price came in at $1,300,000, not far from the record price of $1,334,328 achieved just last month. March’s average sale price is almost 20 percent higher than the average sale price of $1,097,351 achieved last year.

Toronto real estate market (March 2022)

Given rising mortgage interest rates, it is not surprising that average sale prices have plateaued. The trend of constantly rising average sale prices is at an end and will stay steady until the current cycle of rising interest rates is at an end. Rising rates have the immediate effect of removing fringe buyers (often first-time buyers) from the market and lowering the price-point expectations of others.

If there was any doubt about the strength of the Toronto and area marketplace, two statistics dramatically prove the opposite. In March, all properties that hit the market (on average) sold in only 8 (unbelievable!) days. To emphasize this point, all 10,955 properties that sold in March were listed, marketed, negotiated, and sold in only 8 days. Even last year during Toronto’s strongest market in history, it took 10 days for all properties to be sold.

Not only did all properties sell in only 8 days, but they sold for an eye-popping 113 percent of their asking price, and this included 3,154 condominium apartments. In Toronto’s eastern trading districts all properties sold at 121 percent of their asking price. If a buyer were to go further east into the Durham region they would find that all properties that hit the market in March sold for 123 percent of their asking price. Semi-detached properties in Toronto’s eastern districts close to the central core continue to defy all market obstacles selling at almost 130 percent of their asking price. These statistics do not reflect a weakening market.

Despite the obstacles faced by the Toronto and area market, the growth in average sale prices was stronger in the 905 region as compared to growth in the City of Toronto. This continues the pattern that started during the pandemic, where less expensive homes offering more space were available.

Toronto real estate market (2022)

Overall prices in the City of Toronto increased by 15.8 percent and by almost 27 percent in the 905 region.

High-end luxury properties continue to sell well. In March 1,165 properties having a sale price of $2 Million or more were reported sold. Year-to-date 2,841 properties in this price category have been reported sold, 93 percent of these sales being detached properties in the City of Toronto and the 905 region. Last year only 982 properties were reported sold in this price category.

As the market moves into April, supply shortages continue to be a problem. In March a little over 20,000 new properties came to market, almost 12 percent fewer than the 22,747 that came to market last year. As we enter April, buyers’ choice remains limited. At month end there were 10,167 available properties for sale, down over 4 percent compared to the 10,603 available last year. Based on the pace of sales, there were only 0.9 months of inventory in the entire greater Toronto area. The supply was marginally better in the City of Toronto, primarily because of the availability of condominium apartments, coming in at 1.1 months of inventory. Given the population of the greater Toronto area (approximately 6.7 million) a healthy, balanced market requires at least 20,000 properties monthly on a continuous basis available to buyers.

Have questions about the market, selling or buying?

Contact me any time. I’m happy to answer any questions you may have.

Prepared by Chris Kapches, LLB, President and CEO, Broker, Chestnut Park® Real Estate Limited, Brokerage.