Looking for a home? Here’s what $1 million can get you in Toronto and the GTA

Average home prices in the GTA are steadily recovering since they reached pandemic highs around the same time last year, raising the hopes of prospective homebuyers for the year ahead.

But in the current climate, owning a starter home is more dream than reality for most people in Toronto and its surrounding neighbourhoods as many remain priced out of the real estate market.

This amidst a rise in property taxes for Toronto homeowners who will, on average, pay $233 more this year as part of the $16 billion proposed budget for 2023 outlined Tuesday.

Here are some homes listed for around $1 million in and around Toronto, and the property taxes that come with it.

Toronto

Location: #1105 — 80 Cumberland St., Yorkville

Asking price: $1,099,900

Property type: Two-bedroom condo

Property tax: $3,684.17

A condo in one of Toronto’s most luxurious neighbourhoods could be yours for just over $1 million, excluding the monthly maintenance fees of $1,115.73. This two-storey apartment in the heart of Yorkville has two bedrooms with their own bathrooms on the upper level, a floating staircase and a balcony on both storeys. It comes with stainless steel appliances and granite counters. Located on Cumberland Street, it is a short walk away from restaurants, shops and public transit.

Mississauga

Location: #4 -3140 Boxford Cres.

Asking price: $958,000

Property type: Townhouse

Property tax: $4,173.58

This three-storey townhouse in Mississauga’s Churchill Meadows community is has five bedrooms and four bathrooms. The home also features a walkout to a terrace and direct garage access with two parking spaces. The modern interior has hardwood floors, stainless steel appliances and granite kitchen countertops.

Markham

Location: 20 Mill St., Markham

Asking price: $968,000

Property type: Semi-detached

Property tax: $3,354

With an estimated size of 1,519 square feet, this semi-detached two-storey house in Markham has three bedrooms, a den and three bathrooms. While it does not have a garage, the listing does say it has a total of five parking spaces. The basement area features a recreation area, a wet bar and a space that can serve as an extra room or office.

Scarborough

Location: 14 Nero Crt., Scarborough

Asking price: $999,000

Property type: Detached

Property tax: $3,570

This 1,336 sq. ft. property in Scarborough’s Eglinton East neighbourhood has six bedrooms, three dens, and three bathrooms, according to the House Sigma listing. It comes with a finished basement and spacious backyard, but no garage. It’s also only a 5-minute drive to Kennedy Station.

Ana Pereira is a breaking news reporter, working out of the Star’s radio room in Toronto. Follow her on Twitter: @anabpereiraa

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