Author Topic: Opinions on Where to Buy a Home/Condo in Greater Toronto Area for $350 K or Less  (Read 169 times)

Trevor

  • 5 O'Clock Shadow
  • *
  • Posts: 1
Hey all! Looking for your opinions!

I'm a first time home buyer and currently work in Oakville. I want to be reasonably close to Oakville as a result.

My main question is this: Would you buy something smaller (condo, townhouse, or house) and live closer to work or would you live a little further away (say Hamilton area) and get a larger place that costs a little less? Hamilton to Oakville is roughly 30-40 minutes or so, and that's a commute I can live with.

More details below:
  • $140 000 down payment
  • Maximum price willing to pay: $350 000
  • I'm on contract for work; possible I may have to find a job elsewhere in the Toronto or Greater Toronto Area
  • Prefer 2-3 bedrooms
  • Would rent out the basement if possible

Shinplaster

  • Pencil Stache
  • ****
  • Posts: 989
  • Location: the frozen north
  • The introvert in the corner
Have you actually looked at listings in the area?  You will be hard pressed to find a house, or even a townhouse for that price anywhere in Oakville or Burlington.  If you want to be close to work, it would most likely be a condo apartment.  If you are set on a house, the decision as to where would be made on availability of something suitable.  If you are leaning toward a condo apartment, why not Mississauga?  If you have to look for work in Toronto in the future, it would give you more commuting options.

Have you done the drive from Hamilton to Oakville during rush hour?  The 403 is not a highway I would ever choose to be on at those times. If you can shift your commute times, then Hamilton might be an option.  Prices have been rocketing up there also for the past couple of years, so your options still might be limited.