I am expecting my PR in a few months, and would like to buy a small apartment (1 bedroom) near University of Toronto.

Anybody can give me an idea on the price range and the mortgage system in canada?

If you know of a good website on the subject, that would help too.

Thanks much for your help.

Netra

you will find a lot of the apartments around the university are for rent rather than sale. The problem you find is that apartments have to be in a larger property and property prices downtown around where the university is are kinda crazy. For example I work near part of the university campus that is on bloor st w near yorkville / annex and you need several hundred thousand dollars to buy anything around there. So you will most likely have to look in the areas where condo/apartment buildings are being developed or are concentrated and cheaper. So you might have to commute but as long as it is in the city and near the TTC, ideally near the subway, then you can easily get to the university and all it's campuses relitively quickly.

Some friends of mine are buying a condo down near Islington subway station and I think theirs is a 2 bedroom one and is around $180K. You can find various ones for sale of all kinds of sizes from say $130K in less desirable areas to the millions of dollars in the most desirable.

Your best bet is to get a realtor in Canada who can show you what is available across the city in your price range.

You might want to consider renting for a while first to see which area you like best, you don't want to buy something and then find out you don't like the area.

drew

Thanks, that was very useful advice. Can somebody comment on the availability of 1-bedroom apartments. and how much they cost in an area from where one can safely commute to University of Toronto?

Thanks in advance.

If you are searching for apartments in Toronto, RedTO.com maybe a useful website.

The url below will take you to redTO's apartment listings:
http://apartments.redto.com