Are you planning on moving to Ontario this year? Well, you are certainly not the only one. A lot of people have been moving to Canada over the past couple of years. And, for a good reason too. Some are moving in search of a better job, some in search of better living conditions, and some in search of adventure. All these reasons, as well as many more, are more than legitimate. But, before you decide to pack your bags and move to some city in Ontario, you must first check its real estate market for the following year. That is why we are here. Thus, if you want to know something more about Ontario real estate market in 2020, keep on reading.
Why Are People Moving to Ontario?
Before we start talking about all the numbers important for the Ontario real estate market, let us first tackle the issue of why so many people are moving to Ontario. Every year, thousands of ex-pats decide to settle down in Ontario! That is why more than 50% of all the population in Ontario are actually foreigners. And why? The answer to this question is easy. Ontario offers a lot to its people – a high standard of living, a possibility to get a good job with a high salary, top-notch education, and a health system for the entire family. What is more, moving there is rather easy, just call Number 1 Movers Canada and they will help you relocate in no time and explain everything you need to know about the current Ontario real estate market.
Ontario Real Estate Market
And now, the important question – what is the current Ontario real estate market? Well, if you are interested in buying a property, you will have to pay approximately $442,269, which is the median house price. And, if you plan on renting there for a while, the median rent price is around $2,095. Of course, these prices vary depending on the location. The housing prices are the highest in Toronto, especially around the city center. Also, if you plan on moving to Ontario, now is the time, as the Ontario real estate market, that is the home prices are on the rise. Thus, calculate your budget when moving to Ontario and really think through whether you can afford living there or not.
The Cost of Living in Ontario
Another thing that is very important when moving pretty much anywhere, is the cost of living, especially if you are moving to Toronto. As previously mentioned Canada, especially Ontario is renowned for its exceptional quality of life. And, that quality always comes with a price tag. Yes, living here can break the bank. On average, you will have to pay around CAN$88,953 a year for your household expenses. Those usually include housing, taxes, transportation, education, and food. On top of that, you will also have to pay for health insurance, personal care, and simply all those things you enjoy. So, if you plan on moving here, find a good job and plan your relocation well!