Just like a number of other Western cities, Toronto has moved its emphasis from manufacturing to more technologically and service-oriented businesses, resulting in noticeably different real estate requirements. Where such communities as the popular King West area once housed factories and blue-collar workers, these downtown roads are now full of the lavish Toronto condos and lofts of rising professionals and forward-looking retirees.
Because many of these homes started as production facilities, they have retained their commercial permits and are therefore ideally suited for dual-purpose home-business combinations. Many young professionals in a variety of service industries live and work in luxurious Toronto developments such as the DNA lofts and condos, including artists and artisans, legal professionals, and other one- or two-person firms who design their spaces to fit their individual needs. Two lofts of identical size can appear entirely different from one another, according to their occupants’ taste and lifestyle. One might be an austere workplace with sleeping quarters, while another might look like a comfy cottage with an incidental working area. DNA lofts truly do become a part of their owner’s identities, and many residents cheerfully label them with the names of their home streets, or even their real addresses.
Downtowners don’t have to leave their immediate neighborhood to get everything they need to support their daily lives. In King West, for instance, pubs and eateries abound, as do retailers, bookstores, specialty shops of all types, and providers of services such as dry cleaning and home maintenance. A feeling of small-town friendliness pervades the area, providing an air of warmth and safety to the entire neighborhood. Pedestrian walks and bicycle paths also keep automobile traffic to a minimum, which enhances safety and lowers carbon pollutants in the Toronto air.
Toronto real estate provides an interesting mix of old and new architecture, giving prospective homeowners and lessees an array of choices, from high-ceilinged, undivided loft space in modified factories, to new glass-faced high rises with terraces, swimming pools, fitness centers and every other conceivable amenity. As Toronto real estate prices rise for single-family homes, more young professionals and newlyweds are opting for condos and lofts, and developers have made the available choices limitless in both price and style.
A modest loft can be purchased for less than half the price of a small single home, while the more affluent might select a five-bedroom high-rise penthouse for several million dollars. And, although current reports show a softening of the housing market, forecasts are hopeful for a rise in employment, resulting in more buoyant sales during the latter half of the coming year.
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If you are seeking a real estate agent with experience buying and selling Toronto condos and lofts, internet marketing specialist Stephen Daniels highly recommends Ashley Fray. He was the leader in Toronto condo sales from 2007 to 2009 and is a RE/MAX Platinum Award Winning Agent.
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