How much money do you need for a Downtown Toronto apartment?

Your future Downtown Toronto apartment will not be cheap. Apartments rarely are. But, there is a way to get one for a better price if you follow our advice. So, let’s explore that for now, and then we can talk more about who can help you to buy an apartment, and of course, you can help you with relocation. After all, this is a great new adventure ahead of you and you surely are excited.

Prices for a Downtown Toronto apartment

Well, we already stated that buying an apartment is never cheap. There are some differences when it comes to prices depending on the part of the town you wish and of course the condition of the place or how big of an apartment you need. A small, one-bedroom apartment in Downtown Toronto can cost anywhere between $500,000 to $650,000. If you plan on buying a house then the price will be more expensive, somewhere around $1,750,600. Of course, the house tends to be bigger and to have a backyard and such. That is the reason why they are pricier.

Buying a Downtown Toronto apartment that is a fixer-upper

When it comes to finding a perfect apartment you have two choices. You can buy a fixer-upper and the already finished place where all you need is to move in.

The first option has its faults but its stronger suits. You see if you buy a fixer-upper you can get a much better place since they need a lot of work. Then you can do the work on your own. The good thing about that is that you can do everything from the scratch on your own. Also, it will cost much less that way. Also, you can make it to your specific taste which is amazing. You get to choose every little detail. The downside of that is the time of course. It takes a lot of time to remodel an apartment. It can also be quite challenging if you do not already live in Toronto and cant supervise the works that you can not do on your own. So as you can see there is a lot to think about.


There are two choices ahead of you, now you need to think and decide what option is the best for you.

The help for finding an apartment and get a better price

You can look online for your Downtown Toronto apartment. You know the location you desire and you probably already know how big an apartment you need so it won’t be hard for you to search. There are websites dedicated just to that and that can be your first step. This is great since that way you will have full insight into prices. But, when the time for buying a place comes you should hire a real estate agent. They can get you a much better price and they actually can find much more apartments than you can on your own.

A quick visit to the bank

There are some requirements that the bank usually asks from you and we have a list here but it’s important to go to the bank since they will treat every customer differently and the options vary but here is some basic information:

  • down payment – most banks require a down payment that is usually somewhere between 10 and 15 percent of the price
  • you need a good credit score – the better the score is the better the mortgage rates you will be able to get
  • you need some paperwork they will ask from you that is usually that you are employed or so
  • before buying you need to get a pre-approval

The best course is to head to the bank and ask them all questions in person and they will guide you through the process of buying an apartment in downtown Toronto.


This new adventure will be costly but you will be very glad in the end you bought your apartment in Downtown Toronto.

Moving to your new Downtown Toronto apartment

After everything is done and you buy your new Downtown Toronto apartment the time will come to relocate. Of course, if you bought your fixer-upper you will need to wait until the works are done and then you can relocate. Moving, especially moving a long distance can be quite hard. There is a lot of packing ahead of you. Professional Movers Canada might be able to help you. Packing can sometimes be very hard to do on your own especially if you have a lot of household items or you need to care of the kids and don’t have enough time to do it on your own in time.

Hiring movers

We actually advise you to hire professional movers to get the full and enjoyable experience that you will fondly remember one day. If they do all the hard work for you. Heavy lifting will be done by them and you will avoid the possible back injury. By hiring movers you get a stress-free experience so think about that for a moment.

Movers in Toronto loading a moving truck after buying a Downtown Toronto apartment.

By hiring professional movers you are buying yourself a stress-free experience.

Settling in

If you reach out to experts nearby they can help you with unpacking and settling in. That is the worst part of relocation and that’s why we suggest hiring others to help you with that and that way it can be done in no time. As soon as you are done with that part and the last moving box is unpack you can start your new adventure in your new Downtown Toronto apartment.

If you feel homesick

Don’t worry, this is a pretty normal thing. People often feel homesick after relocating. But that will pass soon. You will get to know your new home, decorate it to your liking and befriend your new neighbors and find something new and great in this town, and day by day this will become your new home.