Do you dream of owning a detached home? One of the best parts of living in a vibrant region like the Greater Toronto Area is the incredible choice of homes you have in type, size, and neighborhood.
There are so many advantages of owning a detached home. The space they offer, the flexibility for multi-generational families or creating an income property, and their ever-lasting value are just a few advantages. In a country like Canada, where the real estate market is robust, a detached home is a smart investment for you and your family.
Size and space
Detached homes are single structures with the surrounding property. They vary based on architecture, size, and location, but detached homes are private, often large enough to house multi-generational families, and can become an income generator by creating a separate apartment within the home or using a basement.
The value of a detached home appreciates like no other type of property, especially in the GTA. Since buying a home is the largest investment most people make in their lives, and detached homes can be expensive, the purchase of a detached home is a great investment.
Detached homes are an investment in your future
Single-family homes, including detached homes, semi-detached houses, and townhouses, accounted for 13,732 new home sales in 2021. This was four percent above the 10-year average, according to a report by Altus Group.
The report, New Homes Monthly Market Report, released December 2021, uses data from the Building Industry and Land Development Association (BILD) for new construction and the Toronto Real Estate Board for resale homes.
Flexibility for multi-generational families
Many homes today house multi-generations. Whether it’s adult children saving for their own home or grandparents, detached home offers space and privacy needed to have extra family members living there.
Often detached homes are built with basements. Sometimes they are unfinished, but they can be finished to extend the living space, and adding a bedroom, a bathroom, and even a small kitchen, will add value to the home.
Create an income property
A separate living area, like a finished basement apartment with its own entrance, is also an income generator because it can be rented out. This is a great way to cover the expenses of a large home if you are just starting out.
It can also become an in-law suite or flexible space as life evolves and your family needs change. As your family grows, detached home has the room and the flexibility to meet your needs.
Privacy and property
One of the best characteristics of a detached home is that you are not sharing any walls with your neighbor. Having more privacy allows you to worry less about any noise you make at home and any incoming noise from neighbors.
Most detached homes are set back from the sidewalk and street in the front, allowing room for a sodded front yard and some space for gardening. When you own your own home and your own property, this space is yours to design, landscape, and beautify.
This type of home also usually comes with a sizeable backyard. The perfect place to host family and friends, have barbecues, let the kids run and play and decorate with patio furniture, a swing set and plant a garden or two.
Design and décor to your taste
Owning the home and the property means you can make the changes you want to suit your lifestyle. When you purchase a new detached home, you can work with the builder’s design team to put the finishing touches on every room in the house. From selecting the flooring to the countertops, cabinetry, and the hardware, it will all be brand new and done to your taste when you are ready to move in.
Access to experts
Another advantage to purchasing a new detached home is your access to experts. When you find a home you love with a reputable builder, you can get connected to financial advisors who can help secure a mortgage and a sales team that can help you find the right size and style of home in your budget.
Once you purchase your home, you will meet with the builder’s talented design team, who will guide you in selecting the features and finishes in your home so that it looks the way you want when it is constructed.
Put down roots in a new community
According to ReMax’s Canadian Housing Market Outlook, Fall 2021, 23 percent of Canadians now have a greater desire to build their own home or buy pre-construction and 26 percent of Canadians have the desire to purchase a home while mortgage rates remain low.
In the GTA, detached homes are available in established neighborhoods, as well as brand new ones. In most new communities, there is a mix of housing types, so if you put down roots and want to upsize your home, you can find one within the same area.
There are many advantages to owning a detached home. The space and size of a detached home make it appealing to growing families, multi-generational families, and homeowners or investors who want to have an income property.
Detached homes also come with the sizeable property, including front and backyards, which are great for gardeners and entertaining friends and family. Purchasing a new detached home gives you access to experts and the benefit of putting the finishing touches on every room in the house to suit your taste.
While there are many types of homes in Toronto and the surrounding cities, purchasing a detached home in the GTA is an investment in your future that provides ever-lasting value.