Living in international cities, such as Toronto, traffic jam is unavoidable and can only get worse especially Canada keeps targeting higher immigrant number. More importantly, the cost of owning a vehicle keeps increasing especially for fuel cost & insurance premium. If you buy a property that is near major transit hub or system with 10 to 15% premium on price tag, it should be a wise decision. The total expense of owning a car can range from $5,000 to $8,000 annually (depending on your need, usage, kind of car, etc). Assuming you live near transit system for 10 years, the total saving is pretty significant.
The good news is our government keeps expanding the transit system of GTA. As a smart investor or new comer, you should take the advantage by investing property near transit system.
Before considering buying or selling your new home, you should find out whether the property in consideration is located near any potential expansion project of Metrolinx.
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