Why Buy In Vaughan

The city of Vaughan in Ontario is the fastest growing municipality in Ontario and one of the fastest in Canada in terms of population. The city has seen a four year growth rate that dwarfs the provincial average in the New Millennium, increasing in size by just under 40% during that period. That rapid growth illustrates that the city is a popular choice, but many people may ask why. What is it that Vaughan has to offer that a piece of Markham real estate does not? Let's take a quick look.

Perhaps most significantly when it comes to its popularity, Vaughan is the closest municipality to Toronto not considered a part of the continuous metropolitan area. Mississauga is a separate entity unto itself, but unless you know the borders where Yonge Eglinton condos become a part of Toronto rather than a part of Mississauga, you aren't likely to see where the two cities separate.

Vaughan, on the other hand, is very clearly set apart from Toronto by some areas of green space, major transportation routes, and even pieces of relatively undeveloped (read agricultural) land.

What this means is that the city of Vaughan has a lower population density than its nearest neighbours, a fact which is still true despite the rapid growth of the municipality. If you talk to real estate agents, Toronto based, they will tell you that new single family homes are few and far between. The land has long since been used up, and many homes are resale. All the newer pieces of residential real estate are condo units, built vertically rather than horizontally.

A main reason for Vaughan's growth is that it still has a lot of room for new construction to take place. Families tend to gravitate towards newer, more modern homes, as can be attested to by any Oakville real estate agent. The potential of a new home in Vaughan, close enough to Toronto to make a commute feasible, has proved appealing for many.

Vaughan also has the appeal of any pseudo bedroom community. The prices of real estate in the municipal boundaries are much more reasonable than you can expect to find in the big city. The average worker can still get to her job in Toronto within a reasonable amount of time, without having to pay the premium prices Toronto real estate commands. It's a perfect location for those who can't live in a downtown Toronto condominium due to family size, but certainly can't pay the mortgage on a stand alone home in the city.

The fact that Vaughan is a good place for families is evidenced by the median age of the city. 34.1 years old is well below the provincial average, and points to the fact that Vaughan is guaranteed to be a city with a lot of focus on family issues and concerns. That means modern schools, plenty of daycare, and lots of recreational opportunities.

Finally, the continued growth of Vaughan indicates that it is a good place, as far as a real estate investment is concerned. With all it has going for it, it is unlikely that the Vaughan boom will fall off any time soon. That means that housing prices will continue to go up, which means realizing a good return on your investment sometime in the future.