When it comes to the luxury housing market, Toronto is anything but in short supply. Whether it’s in the charming tree-lined streets of Casa Loma or the high-end high-rises of bustling downtown, there are many options for homebuyers who can afford to spare little expense on their new home. But what are potential buyers looking for this year? Here are the top trends for luxury housing in Toronto, courtesy of Susan Macarz.
No Visible Neighbours
If you’re on the market for a luxury condo in this city, there’s no avoiding your neighbours. Condos are everywhere downtown and in certain places of Midtown, such as Yonge and Eglinton. However, there are some areas in the city where homeowners can afford to add a little privacy with gates, hedging, and walls. Neighbourhoods that still offer sizeable yards include Rosedale and Bridle Path. With such a dense population living in the downtown core, it’s no wonder some homeowners are after a little tranquillity.
If tranquillity, space, and upscale living are what you’re after, Rosedale and Bridle Path are the perfect fit. You’ll find a range of beautiful 19th-century houses. What sets this neighbourhood apart from others is its lush greenery, large, showy frontages, and wrought-iron gates reminiscent of the past.
Finding a home in these areas means you don’t have to exchange city living for a little privacy. The Rosedale subway station can take you right downtown, as well as the Bayview Ave bus and Davisville subway. Residents of Rosedale can get from home to a baseball game in just 20 mins riding down Jarvis street. After you’ve spent the afternoon taking part in all that Toronto has to offer, getting home is a breeze.
Twice the Appliances
The age of entertaining is back in full swing with houses being designed for open-concept living to improve communication and visibility between the living room and kitchen. Many homeowners want more from their kitchens. Premium luxury brands of double fridges, gas stoves, ovens, wine fridges, dishwashers, and more are highly attractive to prospective buyers who love to entertain at home and who can afford a gourmet kitchen.
If entertaining is what you live for, try Lawrence Park South. You’ll find plenty of homes with high-end kitchens in this upper-middle-class neighbourhood. Expect to find Sub-Zero, Wolf, Thermador, Miele, and other high-end appliances.
Homeowners want a backyard they can enjoy, no matter what size it is. During the sweltering heat of summer, nothing beats a dip in the pool, which is what many people want. Smaller pools do the trick, as well as lap pools. In 2019, people don’t need Olympic-sized pools taking up their precious lawn space. Small-plunge pools—and Jacuzzi hot tubs—are, instead, on people’s must-have lists.
Are you looking for a property with a pool in the backyard? Ask Susan about luxury properties in North York.
Luxury Design Features
The hallmark of a luxury property is its custom finishes. It goes without saying that Toronto buyers are looking for la crème de la crème in finishes—from the finer details, like imported Moroccan bathroom tiles to high-end appliances, built-in stereo and security systems, and premium countertops.
If top-notch amenities and custom kitchens are what you’re after, another Toronto neighbourhood that reigns supreme is Forest Hill. Luxury mansions in this neighbourhood come with all the trappings you could ask for, such as security cameras, car lifts, saunas, waterfall features, and fine craftsmanship throughout.
Interested in other neighbourhoods? Bridle Path and Rosedale offer similar homes with uncompromising luxuries.
Buying a house with a spare bedroom is not enough. The growing trend amongst luxury homebuyers is that they’re looking for attached or detached accommodations that include at least one bedroom and an en-suite bathroom, which is perfect for in-laws and out-of-towners.
Some luxury homebuyers prefer to buy acreage and large homes with the intention of renovating. You may have heard of the rapper Drake buying a 35,000 square foot home in the Bridle Path for $6.7 million and customizing it to his needs. His embassy—as he calls it—includes:
- A recording studio
- Piano room
- A snack lounge
- An NBA-sized basketball court
- Two covered porches for hookah breaks
Remember that if you buy a newly renovated home, they come with a hefty price tag because of the increase in land value.
Are you looking for a luxury home that checks everything off this list? Contact Susan Macarz, a Real Estate Broker with RE/MAX Ultimate Realty Inc., Brokerage. Susan has helped many discerning buyers find the home of their dreams in Toronto’s best neighbourhoods. No one knows this city like Susan!