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Feb 9, 2022

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Why new townhomes in Toronto are a good investment

Why new townhomes in Toronto are a good investment

While many more just do not want the responsibilities or permanence of home ownership, with all the repairs and shoveling and mowing that go along with it. This is where new townhomes in Toronto and townhomes in Mississauga are an excellent investment opportunity. Townhomes satisfy a growing need for a specific type of housing in Toronto by addressing the issue of what the Canadian Centre for Economic analysis called in its 2018 report, “The Missing Middle”. “Townhouses, stacked townhouses or semis—products for people who don’t want to be in condos and can’t afford detached—fill the gap, and it’s been an issue for years,” Dunpar Homes COO
Michael DiPasquale recently explained to Canadian Real Estate Magazine.

A Few Units Still Left At Streetsville

A Few Units Still Left At Streetsville

Some fortunate home buyers could be celebrating the holidays next year in their own new townhome in Streetsville Centre, Mississauga’s ‘The Village in the City’. Only a handful of Dunpar’s Streetsville Centre units remain in this gem of a neighbourhood. Owners of 201 classic English Georgian Manor townhomes will enjoy residences with three bedrooms, double-car garages and upscale finishes just a two-minute walk from the GO Station. There are schools, parks stores, services, restaurants and entertainment just a short stroll away. With the major highways, transit, airports and two big cities – Toronto and Mississauga – close by, purchasers will enjoy the small-town charm of this ‘village’ with all the advantages of modern, big-city living.

The Need for Financial gifting for New Townhomes in Toronto

The Need for Financial gifting for New Townhomes in Toronto

But housing prices aren’t coming down, and with the current elevated mortgage rates, financial support courtesy of the so-called bank of mom and dad will remain a necessity going forward. Financial gifting has been entrenched in the GTA’s housing market for quite some time. As far back as 2015, the bank of mom and dad was a significant source of financing in the pre-construction and resale residential submarkets, and as the home prices have surged, so too have financial gifts. According to an analysis by CIBC, financial gifting in real estate purchases rose from 20 per cent in 2015 to 28 per cent six years later. That translated to an average of roughly $52,000 nine years ago, and $82,000 in 2021, despite the share of financial gift recipients remaining flat.