List of Pre construction Homes in Cambridge (2024)

Toronto is the most cosmopolitan city in the world and the hub for immigrants from all around the globe. It showcases the most diversified neighbourhoods which inhibits the people form different cultural, ethnical, and economical backgrounds. The fact that populations from diverse backgrounds share the same neighbourhood is like the cherry on top for future immigrants as well.

Festivals in Toronto

• Canadian Music Week
• Cavalcade of Lights
• Doors Open Toronto
• Bud Light Dreams Festival
• Honda Indy Toronto
• Beaches International Jazz Festival
• Hot Docs International Documentary Film Festival

Toronto builders prefer condos/condominiums over rental buildings entirely driven by the fast money in condos/condominiums business. Very tiny percentage of residential properties are built as rental buildings. Rental buildings aren’t budget friendly either. So, condos and condominiums maintain their consistent demand.

 Rental Property Types in Toronto,Ontario

• Condos/condominiums : 89.1%
• Rental buildings : 10.9%

Real Estate Investors also prefer condos as it favours fast return in their investments. This house trend doesn’t seem to be going away soon in the coming future. Condo market is blooming in Toronto more than most other places due to consistent interest from real estate investors.

Playter Estates Danforth

Runnymede-Bloor West Village

Moss Park

Casa Loma

Wychwood

Yonge-Eglinton

Yorkdale Glen Park

Lawrence Park North

Yonge-St. Clair

Mount Pleasant West

Bay Street Corridor

Annex

Corso Italia Davenport

Leaside Bennigton

Danforth

Bedford park – Nortown

Kingsway South

North Riverdale

High Park North

Old East York

The Beaches

Toronto builders prefer condos/condominiums over rental buildings entirely driven by the fast money in condos/condominiums business. Very tiny percentage of residential properties are built as rental buildings. Rental buildings aren’t budget friendly either. So, condos and condominiums maintain their consistent demand.

 Rental Property Types in Toronto,Ontario

• Condos/condominiums : 89.1%
• Rental buildings : 10.9%

Real Estate Investors also prefer condos as it favours fast return in their investments. This house trend doesn’t seem to be going away soon in the coming future. Condo market is blooming in Toronto more than most other places due to consistent interest from real estate investors.

Mortgage terms

When you buy a house in Toronto, you must pay at least 20% of the purchase price of your home as a down payment. As for the mortgage rate, it can immensely vary depending on lender, down payment, mortgage type and insurance.

Property taxes and other taxes details

The property taxation system is based on the assessed value of your home/property. The assessed value hugely differs from the market value of the property. The property tax rate at 0.599704%  in Toronto is significantly lower than other areas. The ultimate tax amount is calculated by multiplying tax rate by the assessed value of the property.

Income tax rate can vary according to your taxable income. It is:

• 5.05% on the first $44,470 of taxable income, 
• 9.15% on the income over $44,470 up to $89,482
• 11.16% on the income over $89,482 up-to $150,00
• 12.16% on the income over $150,00 up-to $220,000

Land Transfer Tax(LTT)

When you buy a house, or land in Toronto you have to pay LTT which is due upon closing. It is a marginal tax and each portion of your house’s/ land’s value is taxed at its own marginal tax rate. In Toronto, you must pay both provincial LTT and Municipal LTT while purchasing a house.

Apart from pre-construction homes, you can also explore the option to invest in pre-construction condos in Cambridge. These upcoming properties offer a modern and convenient living experience in this vibrant city. With meticulous design and attention to detail, these condos provide a stylish and comfortable living space. Whether you’re a first-time buyer or looking to diversify your investments, these Cambridge condos present a fantastic opportunity. Enjoy the perks of contemporary condo living with amenities tailored for your comfort. Don’t miss out on securing your spot in this dynamic community—explore pre-construction condos in Cambridge today!