Tue Jan 3, 2012
Real Estate

Here & There: what does $649,900 buy you in Toronto vs. King City?

Each week in Here & There, we compare how far your real-estate dollar goes in downtown Toronto versus outlying areas less than an hour outside the city. This week: is King City really fit for a king?

BY: Jacob Rutka

Click on the addresses to view full MLS listing and photo gallery.

Address: #2701-8 Colborne St. (King & Yonge)

Price: $649,900 (plus monthly condo fees of $952.57)

Size: approx. 735 sq. ft. (realtor lists property size as 900-999 sq. ft.)

Annual property taxes: approx. $6,629.47 annually

Storeys: 2

Style: Condominium

Bedrooms: 2

Bathrooms: 2

Central A/C: Yes

Cost of monthly adult TTC metropass: $126; $1,512 annually

Bonuses: located in the heart of the Financial District, close to transport links, many restaurants, bars and shops; one of only two penthouses at the four star Cosmopolitan Hotel & Residences; contemporary two story loft design with double height windows and north and west views; balcony runs entire width of the suite; floating open staircase leads to a private terrace and rooftop garden with views of the skyline; property has full hotel amenities; hardwood floors throughout; kitchen with granite countertops; includes fridge, stove top, microwave, washer and dryer; no locker, no parking.

King City

Address: 75 Hambly Ave. (Keele St. & King Rd.)

Price: $649,900

Property size: 11,250 sq. ft. (approx. 1,570 sq. ft. of interior room space, not including hallways, basement or bathrooms)

Annual property taxes: approx. $5,515

Storeys: 1

Style: Detached bungalow

Bedrooms: 3

Bathrooms: 2

Central A/C: Yes

Distance to King City GO Train Station: 1.5 km

Distance to Union Station: approx. 52 km

Time to Union Station on GO Train: approx. 45 minutes.

Cost of monthly adult GO Train pass: $203; $2,436 (annually)

Bonuses: located on large lot in the heart of King City on a quiet dead end street in a cul-de-sac, close to transport links (including Hwy. 400 and walking distance to GO Transit station), schools, restaurants, shops and parks; recent upgrades, including hardwood floors throughout, granite counters and backsplash in kitchen; property includes three fireplaces, a large back deck and two walkouts to the backyard; full finished basement with wet bar; tandem two car garage with keyless entry.

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editor

I assume they meant a “quiet dead end street.” I hate to live in those “kind of dead end streets.” Damn zombies.
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4:45 pm on January 3, 2012

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Brian

I grew up in the Beaches, lived with Grandma at Queen & Parliament till I was 16 and loved every minute…Did the Guildwood (Scarborough bluffs) for 10 years. A short 2 year stint and Jane & Steels just for fun then off to Newmarket for 17 years so I have had to fortune of many neighbourhoods around the GTA.

We have just moved to King City 2 years ago…I think it’s all about what stage in life you are at.

Today King City is good for me! Yes you have to drive but I travel a lot and King C is close to the airport so for travellers is great.

KC is a very nice community in the Oakridges Moraine, snuggled between the city to the south and commuter land to the north. Lots of trails and wildlife around. A dogs paradise for walks. Biking is exceptional with long newly paved roads. Development is encroaching but still at a distance. It’s like living in a small town on the edge of all Toronto has to offer.
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3:59 pm on January 3, 2012

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Mark

In King City you don’t have to live like a rat, piled on top of one another scurrying underground trying to avoid the masses of people. You can actually have a front yard and the people in your neighbourhood know you, unlike Toronto. You dodge fewer bullets too as opposed to downtown toronto. No hippies protesting on the streets every weekend either.
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3:22 pm on January 3, 2012

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Theo

At King and Yonge you don’t even need a jacket to leave your house due to the PATH system. Walking to work without a parka is the biggest advantage I see.
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3:18 pm on January 3, 2012

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lulu

What is this obession with space in North America and the need for sprawling suburban homes? My choice would be to live in the city and be where people are than out in the wilderness where you need to have a car to go to get milk and bread.
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2:46 pm on January 3, 2012

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editor

Different people like different things. No need to judge. Your preferences are cool too
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4:46 pm on January 3, 2012

Keith M

Also including the cost of maintaining a home is pretty important in any analysis.
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12:54 pm on January 3, 2012

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Margot

Seriously! My condo maintenance fee includes geothermal heat, water and hydro. I pay $468/month for 700 sq ft (which I think is reasonable with all of the amenities). On top of that, of course, I pay my property taxes. My condo was recently audited and our reserve fund is in good standing so we’ll be okay if there are any major repairs that come up.

If the Grid wants to have a fair comparison, show us the cost of heating these big freestanding homes! The cost heat, water and hydro should be included, as well as factoring in how much savings you need to put aside per month to replace windows/roofs/etc (especially on these older homes).

My parents live the suburbs in a house and the cost of yard maintenance itself is ridiculous. For two people and a dog, they pay double what my husband and I pay in maintenance fees per month for utilities. Factor in the cost of car insurance for two people and gas for daily usage and living in the suburbs tends to be pricier than living in the city. I own a car that stays parked in my underground garage for most of the week and I don’t remember the last time my husband and I noticed the price of gas (since we use the car so seldomly). Everything is also within walking distance, so no need for a metro pass.

This condo has access to the PATH system – why the heck would you need a metro pass factored as a monthly expense? If we’re assuming the tenant of both homes works in the downtown Toronto area, the downtown resident in this case can walk to work in most cases and use a token to take the subway during rainy days. Not accounting for the additional costs of living in the suburbs while inflating the cost of living downtown makes this feature a total joke every week.

And PS – for close to $700,000, why not feature a house in the Beaches, Leslieville or the Trinity Bellwoods area?
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2:52 pm on January 5, 2012

alan

at king and yonge, you’ll not need a car to get anywhere to go shopping but in king city it’s a priority regardless of the go train…
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12:29 pm on January 3, 2012

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