Toronto attracts homebuyers in the hundreds yearly, mostly because of its renowned luxury market. The city boasts one of the most competitive markets for luxury property, where homebuyers can enjoy world-class amenities, and investors can get a good return on their investments. Still, as more people enter the business, it becomes more challenging to tell a luxury property from a regular listing. Here is a look at some of the features that distinguish a Toronto luxury home.
High Price Range: Toronto Luxury Real Estate
As superficial as it sounds, luxury is synonymous with expensive. Toronto luxury homes are called so because they offer the best amenities you can find in a home, and these come at a price. In the Toronto luxury real estate market, luxury properties comprise 1 percent of all the listings. Their values tend to range from $3 million to $4 million, with the most luxurious properties selling for up to $10 million.
At such price points, you must ensure you are getting value for your money. Toronto luxury homes offer features and amenities you will not find in a regular home. The list can vary from home to home, but you can usually expect a gourmet kitchen with top-of-the-line appliances. Luxury kitchens are big enough to not only cook in but also host a few people. They are also often fitted with granite countertops, warming drawers, wine cellars, wine fridges, and more. A Toronto luxury property may also have a gym or exercise room, Smart Home system, walk-in closets, spa, and in-house movie theater.
Toronto is a prime location for luxury real estate. The city is home to some of the most upscale neighborhoods with a wide inventory. But if you are looking for true luxury, you should start here:
York Mills has a highly accessible street layout and offers easy access to commute services, golf courses, highly-rated schools, beautiful parks, and Highway 401. The oldest homes in the town were built between 1920 and 1960 in the ranch cottage style. But if you want something more contemporary, York Mills boasts a wide selection of prestigious modern construction, English Cottage, and Tudor homes. The average home price value is $3 million, well within the range of luxury.
The Bridle Path
More secluded than York Mills, The Bridle Path also provides access to excellent private schools, lush parklands, and other useful amenities. The residents are mainly people of note, including celebrities and business magnates. Among other reasons, this is because the neighborhood is a private enclave with some of the biggest properties in the city. The average listing price here is $6 million.
Forest Hill South
Another wealthy neighborhood, Forest Hill South, has a long history of opulence and class. Most of the homes are semi-detached or detached single-family homes set on large lots and adorned with gated entrances. The well-maintained homes, many of which date to the 20s and 30s, sell for an average price of $4 million.
Talk to a Toronto Luxury Real Estate Agent
Barry Cohen Homes is dedicated to helping you find the home of your dreams. Our many years of experience, integrity, and over $3 billion in residential sales make us the best team with which to navigate the Toronto luxury real estate market. Now that you know what to look for in a luxury property in our great city, contact us to schedule a consultation and get started on finding your home.