For today’s first-time home buyers, entering the market it’s as simple as it used to be. In most instances, eligible buyers are working with multiple income streams, cosigners, or both.  

Although the recent stabilization of interest rates has offered some clarity, many Torontonians in their 30s or 40s still aren’t sure whether or not they have the financial power to purchase a home. 

As a real estate team led by millennials, we’ve been in these shoes ourselves. We understand the stress, anxiety, and uncertainty that come with trying to break into the market. However, in our years of industry experience, we’ve also identified informative trends among qualified buyers. 

Passing this knowledge on to you, in this post we’ll look at a handful of common competitive-salary occupations in Toronto that contribute to a solid financial foundation for homeownership. 

For many first-time buyers, homes with built-in secondary suites offer unique advantages for offsetting costs. Click here to read our blog post on the topic. 

Leveraging Your Income

As a fast-growing and highly liveable city, Toronto is known for a lot of things. Unfortunately, one of these things is the high cost of real estate. That said, the city is also a hub for countless industries and fields of work. As a result, there are lots of great jobs here – many of which offer elevated income. 

While it may seem obvious, your (and your spouse’s) career(s) will be one of the most telling insights as to whether or not you’ll be able to afford a home.

If you see your job below, you could be eligible for homeownership sooner than you think. 

If your field of work isn’t included on this list, send us an email. We’ll help you assess your situation to determine what you can afford. 

• Software Engineer
• Investment Manager 
• Dentist
• Data Analyst
• Lawyer
• Civil, Mechanical, or Petroleum Engineer
• Tech Development Manager

---

Looking for more home buyer resources? Explore these blog posts. 

• 5 Ways Your Agent Can Assist With Your Relocation
• What First-Time Home Buyers Should Know About Inspections
• Moving to Toronto? Here’s Why You Should Buy Instead of Rent

---

Popular Neighbourhoods With Young Buyers

There are hundreds of neighbourhoods in Toronto, however, some have proven more popular with today’s generation of buyers than others. 

While each of these communities is distinct in its own right, they share a handful of commonalities that cater well to millennial buyers – such as a high volume of entry-level homes, strong transit access, vibrant energy, and fantastic amenities. 

Mimico 

Mimico is a lakeside neighbourhood that has become a hot spot for young buyers. With its stunning views of Lake Ontario from picturesque Humber Bay Park and Mimico Waterfront Park, endless opportunities for outdoor activities, charming streets, and excellent transit options, Mimico offers a relaxed suburban feel while still being close to downtown. The neighbourhood also features a mix of shops, restaurants, and local businesses, creating a sense of community and belonging.

Liberty Village 

Nestled just outside of downtown, Liberty Village is a uniquely vibrant neighbourhood that has become increasingly popular among younger buyers. Once a thriving industrial area, Liberty Village has undergone a transformation in recent years – becoming a hub for tech companies, creative professionals, and entrepreneurs alike. 

---

Moving to Toronto and searching for a home? Check out these articles below for helpful tips. 

• Best West Toronto Neighbourhoods For Raising Kids
• Buying a Home? Here Are 5 Things Not To Do
• 10 Important Tips For Buying a Home

---

The Junction 

One of Toronto’s most recently revitalized areas, The Junction is a unique and trendy neighbourhood that has proven popular with many first-time buyers. The neighbourhood’s myriad of locally-owned shops, boutiques, and restaurants place a strong emphasis on sustainability and ethical business practices. The Junction also hosts various cultural events, and festivals throughout the year, making it a fun and eclectic place to live. 

Square One

Located just outside of Toronto in charming Mississauga, Square One is a modern residential neighbourhood that blends urban and suburban. Centred around a popular shopping centre, Square One is known for its modern condos, amazing local amenities, and vibrant nightlife. The neighbourhood is also close to schools, parks, recreational facilities, and cultural attractions, providing a well-rounded lifestyle for young professionals and new families alike. 

Ready to begin your home buying journey? Our specialized services can help you find the perfect place to call home while making the most of your budget. Send us an email or call 647.330.5279 to get started.