There are many options available to purchase waterfront property across the Greater Toronto Area. In addition to Lake Ontario which spans the city shoreline and beyond there are also a number of good size lakes located north of the city in Toronto's Suburbs. There are also a number of smaller lakes, rivers and ponds of varying sizes scattered througout the Greater Toronto Area.
We begin our tour of Toronto's waterfront options in the suburban muncipalities located west of the city. The most exclusive of these waterfront homes are located in Mississauga, Oakville and Burlington. The magnificent estates that line the waterfront in these municipalities command not only the best views but also the top prices that stretch well into the millions of dollars.
A more affordable and popular option just west of the City of Toronto is Port Credit in Mississauga. This popular village community includes both charming older houses together with newer townhouses and condominium apartments along Lake Ontario at the mouth of the Credit River. For the most part prices are in the $400,000-$1,000,000 range for a home with an indirect or direct waterfront view.
The City of Toronto's western waterfront in Etobicoke includes the waterfront communities of Humber Bay, Mimico, New Toronto and Long Branch. In Humber Bay you will find a nice selection of newer condo apartment buildings where prices for a smaller condo with an indirect waterfront view start around $300,000, while the larger units with direct waterfront views can sell for well over a million dollars. In Mimico, New Toronto and Long Branch waterfront trails and parks are located right at your doorstep. Here smaller older houses close to the water sell for under a million dollars while the larger homes on signature streets like Lake Promenade can easily fetch over a million dollars.
The City of Toronto's prime downtown waterfront is home to Toronto's Harbourfront neighbourhood. Harbourfront has a magnificent arts and cultural centre that attracts visitors to year round events, galleries and shows, creating a vibrant atmosphere and lively streetscape particularly during the summer. This neighbourhood includes mostly mid and high-rise condominium buildings with a handful of newer townhouses. Many Harbourfront condos are 1 and 2 bedrooms and are less than 1500 square feet making them affordable with prices in the $350,000-$900,000 range being the norm. However, more expansive units with large terraces and balconies and a premium lake view will sell well in excess of a million dollars.
If you want a true waterfront lifestyle you cannot beat the Toronto Islands. Created in 1858 after a tremendous storm separated Toronto's eastern peninsula from the city's mainland the Toronto islands are a unique residential option for those seeking to be on the waterfront. All Toronto Island houses are leased from the city. The cost to purchase a home here is based on the value attached to the land and the building that is situated upon it. At present there is a waiting list of over 500 people so don't book your water taxi just yet as openings rarely become available.
Toronto's east-end is where you will find The Beach neighbourhood. The Beach is Toronto's trendiest and most popular waterfront community. The Beach appeals to families as well as couples and singles. The Boardwalk along the waterfront and year-round festivals are popular drawing cards. Prices for a semi-detached home start around $500,000 but expect to spend upwards of a million dollars for a detached home. While most of the housing stock is older cottages mixed in with tudor and victorian style homes there is also a large selction of newer townhomes with a seaside village theme, located off Woodbine Avenue at Queen Street.
The Lake Ontario shoreline east of the city in Durham Region contains the most affordable options for those seeking Lake Ontario waterfront views. Pockets of newer townhomes and condominiums as well as older homes exist along the Lake Ontario waterfront within the municpality of Clarington, the Towns of Ajax and Whitby and the Cities of Oshawa and Pickering. Most of these homes are priced in the $300,000-$800,000 price range. Some of these feature direct waterfront views from multi-level walkouts.
Prices for waterfront property become more affordable if you venture north of the city. Lake Scugog situated in Scugog Township is one of the largest bodies of water in Southern Ontario. Here you can find a home with a direct waterfront view in the $250,000-$800,000 price range. Wagners Lake is a smaller lake further north in the Township of Uxbridge where homes sell in the $350,000-$450,000 price range. The Township of Brock also provides entry level waterfront ownership opportunities particularly in Beaverton where small bungalows on Lake Simcoe waterfront sell in the $350,000-$450,000 price range.
In York Region the Town of Richmond Hill is situated on the Oak Ridges Moraine where several small kettle lakes formed during the last ice age provide a picturesque setting for homeowners. Lake Wilcox and Bond Lake in particular have spawned some residential development. Lake Wilcox located off Bayview Avenue is the largest of these lakes. Houses on Sunset Beach Road rarely come on the market and when they do they sell in excess of $750,000. Bond Lake east off Yonge Street has a new home subdivision named after it where residents can stroll to the lake. The Mill Pond north of major MacKenzie and west of Yonge Street attracts many families with year round events. Stoufville's Musselman Lake is a beautiful kettle lake with a year-round lakeside community that hosts numerous family friendly events.
The second largest lake in the Greater Toronto Area is Lake Simcoe situated along the north border of the Town of Georgina. Lake Simcoe is a one hour drive from the City of Toronto. There are a plethora of year-round homes and seasonal cottages that are situated along the Lake Simcoe shoreline. Many entry level bungalow and 2-storey homes in the $250,000-$450,000 price with indirect water views and access to semi-private beaches can be found clustered in the Keswick, Sutton and Pefferlaw communities. The direct waterfront homes are where you will find the premium properties. Many of these stunning homes sell in excess of a million dollars. The sunsets are spectacular.
There you have it. Plenty of options for those who want to live by the water and still be connected to the City of Toronto. If you want more information on buying waterfront property in Toronto please contact the Toronto Realtor sponsors on the TorontoNeighbourhoodGuide.com website. They would be pleased to assist you.
