I Can't Afford To Buy A House In Toronto & Here Are 5 Other Ontario Cities I Have My Eye On

Is Toronto really anyone's forever city?

A sign that says a home sold over its asking price. Right: Homes in Toronto, Ontario.

Eberdova | Dreamstime, Angelo Cordeschi | Dreamstime

I don't have a crystal ball, but one thing I've already come to accept is that I will likely never be able to afford a house in the Toronto Real Estate market.

The Toronto housing market is one of the most expensive in Canada, and despite suggestions that prices would be in for some kind of major correction post-pandemic, prices have already started climbing again, making the city one of the last places any first-time homebuyers like me would want to look.

While that's my general feeling, it's also truly the way many people feel.

A survey conducted by Leger for Royal Lepage in 2022 revealed 60% of Canadian millennials believe they will own a home in their lifetime, but more than half said they would have to relocate in order to do it. Relocating was something 72% of those surveyed admitted they wouldn't do if the cost of living wasn't an issue.

Same here. I don't want to relocate from Toronto, but it's something I've accepted that will have to happen eventually if I want to stop living in a small apartment and purchase my own home.

So the next question is, where do I go?

Having spent my whole life in this province and taking family, location, and the Ontario housing market into consideration, here are five cities in Ontario that I have my eye on when the time comes for me to buy a home.

Barrie

Downtown Barrie, Ontario.

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When thinking about leaving Toronto to buy a house, the first thing I think about is whether I still want to live close enough to be able to take day trips into the city.

Thinking of those options, Barrie comes to mind.

Less than 100 kilometres away from Toronto, it can still be a quick drive down (if you pick the right time to go) and personally, I'm attracted to the city because it's a bit quieter and still has some nice waterfront vibes — which is one of my favourite things about Toronto, particularly in the summer.

Barrie was also named in the top 10 best places to live in Canada for quality of life.

The price for a house in Barrie has also been moving downwards lately, with home sales and average home prices taking sizeable drops in a recent report from the Barrie and District Association of Realtors.

Ottawa

Having grown up in Ottawa, it's where family is and the idea of returning home at some point is definitely not out of the question.

The city gets a reputation for being much quieter than Toronto, and while I have to agree with that sentiment, Ottawa can be the perfect place to settle down and raise a family, as long as you don't mind a much more miserable winter.

However, like Toronto, housing prices in Ottawa have recently started to climb back up again, averaging $747,123, according to the Ottawa Real Estate Board, which, for me, is still too high to consider moving back in a hurry.

But, what I like about Ottawa is the sheer size of the city gives you plenty of choices when it comes to location and what neighbourhoods to consider.

Kingston

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Closer to home, a smaller city and cheaper prices.

Those are the standouts for me and the reason why Kingston cracks this list, not to mention the city's food scene, with restaurants that can compete with some of the best in Ontario.

You can currently find some decent homes in Kingston for much closer to half a million dollars, which is certainly more appealing.

Wasaga Beach

Having spent some time in the Wasaga Beach and Collingwood area, it's quiet and picturesque and I could definitely see myself settling down there.

But no, I'm not naive enough to believe I could actually afford a waterfront property.

Once again though, the small-town vibes and not being too far from Toronto when I want to return to the city is a plus.

Like Kingston, this area also seems to have a consistent flow of homes for sale much closer to $500,000, and some much nicer homes are priced at around $750,000.

St. Catharines

While the idea of living west of Toronto scares me from a 401 traffic perspective, St. Catharines is another medium-sized Ontario city that is still close enough to the action, not to mention right near Niagara Falls and Buffalo, New York.

From a price point of view, real estate in St. Catharines has also been on a wild ride.

After taking one of the biggest price jumps of any city in the province in 2022, the average cost of a home in St. Catharines has since fallen just under 30%, according to the St. Catharines Standard.

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