Once upon a time, the condo market was considered either for first-time buyers just trying to get their foot on the property ladder or for empty nesters downsizing from the family home. Cramped living spaces weren’t exactly the dream, but condo dwellers have always found ways to make it work.

Now, the entire concept has changed. Today’s condos can be incredibly spacious, with so much shared space for entertaining and outdoor lounging that you’ll never miss having a backyard. 

Pickering just so happens to be one of the hottest markets for condos, not just in the GTA but all over Ontario. The skyline of the downtown core is dotted with majestic buildings you can see for miles around. Not only that, but there are as many as 75 projects in the works that we are excited to see over the next ten years. 

Why Buy a Condo in Pickering?

News of a housing shortage makes the headlines almost every day. Home buyers and tenants alike are really feeling the crunch in areas like Toronto and Mississauga, where the demand is particularly high and the supply is critically low.

Pickering offers a different story, with more availability and more affordable prices than anywhere else in the GTA. You will still enjoy every imaginable convenience and amenity like you would find in downtown Toronto. 

Many of Pickering’s condo buildings are strategically located steps away from fantastic shopping and dining districts. With tons of green space and parks (including those with spectacular waterfront views) all around, you never have to go very far to escape the stress of the city. 

If you need to get to Toronto for work or leisure, it’s only about a half hour away by car. Alternatively, you can hop on the Go Train and skip the traffic. 

This highly sought-after market is attracting a wide variety of buyers, including those entering the market for the first time and even those with small families who love the convenience of condo life. Empty nesters are also flocking to the area, along with numerous investors who see the unlimited potential Pickering offers.

Learn even more about Pickering and the exciting Durham region in the related posts below:

• What Does Pickering Offer Empty-Nesters?
• What Is the Fastest-Growing Area of the GTA?
• Exploring Seaton: Pickering’s Hidden Gem in the GTA

First Time Buyers

Affordability alone is enough reason for first-time buyers to consider Pickering. Saving enough for a down payment is the most challenging part of purchasing a home for most people. 

These requirements become more stringent the more expensive the property is, and closing costs can also accumulate quickly. With the average home value in the GTA well over $1 million, reaching the necessary down payment can be a tough hurdle to clear. 

This doesn’t even factor in mortgage insurance or any other closing costs. Plus, when buying right in the City of Toronto, you get hit twice on the Land Transfer costs as there is both a municipal and a provincial tax.

Buying your first condo in Pickering saves you money anyway you look at it. More accessible housing costs mean a lower down payment and only one Land Transfer Tax to contend with. You can enjoy a more affordable purchase with no sacrifice to the lifestyle you crave!

Why Investors Are Watching Pickering

Real estate investors at all levels are starting to pay even more attention to Pickering, from those looking for their first income property to seasoned investors adding to their ever-growing portfolios. With so many up-and-coming developments on the way, buying in Pickering is about as safe as it gets.

Property values are affordable but quickly growing in value, which makes significant equity gains possible. And a pool of eager and qualified tenants is built in since the population of Pickering is booming. Some experts predict more than 74,000 new residents by 2041.

The many affordable and highly desirable condos that will soon hit the market are the perfect opportunity to invest in your own city close to home. Once a tenant settles in Pickering, they often decide to stay for the long-term, which allows you to foster those positive relationships that make your investment a success.

Looking for more guidance when buying a home or condo in Pickering? The posts below may be helpful:

• Can You Make a Home Offer Appealing Without Paying More Money?
• What Creative Solutions Are Available for First-Time Buyers?
• Is It Safe to Buy a House Near Pickering’s Nuclear Power Plant?

Pickering is the site of many highly-anticipated developments, both in condos and low-rise master-planned communities such as Seaton. In addition, the two projects below are highly sought after developments with multiple offerings, whether you’re looking for a home for yourself or an investment property.

Universal City Condos

When you see the plans for this stunning, contemporary high-rise, you will not be surprised that the next phase of Universal City Condos is called “The Grand.” This exciting master-planned community by Chestnut Hill Developments lies near some of Pickering’s best shopping, dining, and entertainment. 

In addition, the spectacular Frenchman’s Bay Waterfront is within a five minute drive. Or you can leave the car at home and ride your bike in less than ten minutes.

The building features an outdoor pool and terrace that just might make you feel like you’re on vacation 365 days of the year. Considering the affordability and convenience they offer, it’s not surprising that units in the first two buildings sold out so quickly. The Grand is currently in the pre-construction phase and is one of the most anticipated developments in the GTA.

Want to learn even more about Pickering’s exciting future? Listen to our podcast “Exploring Pickering’s Growth with Ralph Del Duca, President and COO of Chestnut Hill Developments” right here. 

Pickering City Centre 

Located a mere three minutes away from the Pickering Town Centre and less than a 15 minute walk away from the Go Station, Pickering City Centre is a rare mix of luxury, affordability, and convenience. 

One and two bedroom floor plans are available ranging from 486 to 689 square feet. When you consider the expanded community of the building itself, you have over 20,000 square feet of fitness and wellness space. Amenities include a fabulous rooftop pool, social areas, and even a golf simulator. 

Do you want to explore Pickering’s incredible real estate opportunities even further? Reach out to us today at ​​info@teamrajpal.com or call 647-875-8000 with any questions. 

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