5

Little India Homes For Sale

There are some great detached and semi-detached houses to be found in Little India, tucked down side streets south of Gerrard. And the word is definitely out. Investors have been bringing up property values dramatically in recent years through high-end renovations–ask your agent to pull some recent sales of renovated properties and you’ll get a sense of where this neighbourhood is headed.

A word of caution however: while the Little India neighbourhood is vibrant, well-served by transit and up-and-coming from a real estate standpoint, there are some pockets that are over-priced in our opinion. Popular streets like Ashdale, Rhodes and Hiawatha have seen huge rises in property prices over the last few years, largely due to updated single-family homes that are the product of flippers. And while some are fairly priced, we've seen prices hit unreasonably high levels during low-listings months when bidding wars are fiercer than usual.

It's a similar trend to what's happening around Main & Danforth right now, where prices are skyrocetting but whether they'll continue to grow (or even hold) is not as safe an assumption as it is in fully-matured Toronto neighbourhoods. In short, think hard about paying the same price for a property in an up-and-coming neighbourhood that you would for something in a prime east-end pocket.

That said, this is still a hot neighbourhood for investors and first-time home buyers IF they're lucky enough to score a good deal. Another word of caution - houses on popular streets sell fast and often spark aggressive bidding wars. You and your agent need to be on neighbourhood real estate watch and be prepared to move quickly.

Try for listings that don't have hold backs on offer dates and get your financing sorted in advance - sound advice for anyone looking at houses for sale in Toronto but particularly in areas where you're competing not just against other end-users but investors and developers as well.

Young singles and couples looking to get a foot on the housing ladder with a Toronto home for sale that could significantly grow their equity in the coming years.