Exploring the Common Types of Homes in Toronto

Toronto is a city known for its diversity, and that's reflected in its real estate market as well. Whether you're a first-time buyer, an investor, or just curious about the options available, understanding the different types of homes in Toronto can help you make informed decisions.

Here's an overview of the most common home types in Toronto:

1. toronto DETACHED HOMES

100-year old home in Toronto’s East End.

Detached homes are free-standing residential properties, not sharing walls with any other dwelling. They offer the most privacy and space, making them a preferred choice for families. While some neighbourhoods like Leaside, The Beaches, and Lawrence Park boast higher volumes of detached homes, they can be found throughout the city. Detached homes come at a premium and are the most expensive price category of homes.

2. toronto SEMI-DETACHED HOMES

A semi-detached home is connected to one other home on one side only, sharing one wall. These homes strike a balance between the privacy of detached properties and the affordability of townhomes. Neighborhoods like Toronto’s East End and High Park are known for their beautiful semi-detached homes.

3. toronto ROW HOMES

Row house in Toronto’s East End.

Row homes are freehold structures that are attached to more than one other property in a row. A fantastic choice for first-time buyers, these homes offer a lower entry price point and a great first step into real estate. They ensure that you own all of your property (unlike many townhomes) and are typically 2 bedroom houses.

Hot tip: Interested in making some money on your first purchase? By a 2 bed, 1 bath row house and finish the basement with a bedroom and bathroom. This will convert the home to a 2+1 bed, 2 bath and increase its value significantly.

Key consideration: wood framed vs. solid brick. If the party (shared) wall is made of wood, sound will carry significantly more than if the wall is constructed out of brick.

4. toronto TOWNHOMES (FREEHOLD)

Often considered the same as a row house, these freehold homes are NOT the same thing! They are similar, but have some key differences. While row houses have a uniform appearance and are a series of homes all in a row (hence the name), townhomes are simply defined as a home that shares more than one wall with an adjoining home. These homes can be stacked (neighbours above or below), side by side (neighbours to the left and right) or a combination of the two. Freehold townhomes also equate to modern construction vs. row homes which include many of Toronto’s centurian homes.

With a freehold townhome, you own the entire property (the interior and the exterior). You are not bound by a condo corporation and do not pay condo fees.

4. toronto TOWNHOMES (CONDO)

Townhomes are a type of condo property that offer multi-floor living attached to adjacent properties. They are a great middle-ground for those looking to buy a larger space than a condo but more budget-friendly than a freehold home. Toronto offers many modern townhome developments across neighbourhoods like Liberty Village, The Danforth, and Mimico.

Key consideration: With a condo townhome, like a condo, you own the interior of your unit, but a condo corporation owns the exterior property and shared amenities. This creates a lower cost of entry, however it comes with a monthly maintenance fee. This style of home appreciates at a slower rate than its freehold home counterparts. Where possible, it’s always best to own land, but it’s better to own something in real estate than nothing in real estate so these offer a good option to get into the real estate market at an affordable price point.

5. toronto CONDOMINIUMS (CONDOS)

Historical conversion of a church in the Beach to a boutique condo at Bellefair/Queen.

Condos are extremely popular in Toronto, especially in bustling areas like Downtown, The Waterfront, and Yorkville. Perfect for people starting out in the real estate market, those downsizing into retirement, or those who prefer low-maintenance living. Condos feature shared amenities like gyms and rooftop terraces, and often sit on premium lots or in desirable locations.

Key consideration: Living in a condo doesn’t have to mean a sterile 30-story building downtown (not that there’s anything wrong with that!). There are many small boutique condo options in Toronto that are designed and built with character in mind.

6. toronto BUNGALOWS

Bungalows are single-story homes and are most often detached homes (although many semi-detached bungalows exist). Often chosen by downsizers or families seeking a home with no stairs, Toronto's bungalows frequently pop up in areas like Scarborough, Etobicoke, and North York.

Hot tip: a bungalow is a great investment if you want to put some skin in the game on a big return down the line. Consider buying an outdated bungalow and living in it while you develop the funds needed to build. Bungalows that are built up to 2-story homes offer HUGE returns on investment.

7. toronto MULTI-UNIT HOMES

This type includes duplexes, triplexes, and larger multi-family residences where multiple units are housed within a single building. These are a popular choice for investors looking to rent out units, but are amazing for savvy first-time buyers who might not need an entire single family home or for multi-generational households. They're commonly found in Toronto's older neighborhoods like Cabbagetown and Little Italy.

Hot tip: consider buying a duplex or triplex with a friend or two. You can each live in a unit and down the line, they become excellent shared investments. *A good lawyer is a must to develop a comprehensive contract with buy-out options.

CHOOSING THE RIGHT TYPE OF HOME FOR YOU in toronto…

Toronto's real estate market offers something for everyone. When deciding on the type of home that suits your needs, factors like budget, lifestyle, location, and long-term goals should play a key role. It's always a good idea to work with a real estate professional to guide you through the home-buying process. If you can find one with building and investing knowledge (ahem, raises hand) - bonus points. ;)

Whether you're searching for the perfect starter home in Toronto’s West End, a peaceful downsize into retirement with water views, or a family-friendly street in the Beach, Toronto's diverse housing market ensures there's a home that fits your unique preferences.

If you have questions about any of these home types or are looking to explore your options, feel free to reach out to me. I'd be happy to help!