Toronto is a fantastic community with each neighbourhood representing a different area in Toronto while welcoming newcomers with open arms. Did you know that the gay village in Toronto is a booming area because many same-sex couples live there?! The rainbow can mean much more than love in your neighbourhood and can be a great area to live in or a place to buy your next investment property. So why is it that the rainbow flag brings this luck into the real estate market?
Shirriff Wells Real Estate can help you find the best gay-friendly neighbourhoods to buy real estate in your area. We know the city inside and out and have many clients who actually live in the neighbourhood you are looking to buy in.
Crime in an LGBTQ community is significantly lower. Let’s face it, someone with hate towards other human beings would stay clear of the rainbow flag in their neighbourhood. Many females also say they feel safer living next to a same-sex couple who are more open-minded. Generally, those that live there feel a sense of community which makes living there or walking late at night that much more comfortable.
2. Higher disposable incomes
It’s more likely for same-sex couples to have fewer children, which means they normally have more income sitting in their bank accounts. They have the extra budget to be able to visit local shops and help increase sales for local businesses. This produces a chain reaction of businesses who flock to an LGBTQ community, adding value to the area. Many same-sex couples will spend more money on home decor and home improvements, which automatically increases the sales of the homes in the surrounding neighbourhood.
3. Appreciation of home upkeep
On that note of home decor and renovations, many same-sex couples like to buy a lower-end semi or detached house on the east end and spruce it up as an investment project. It’s very common for them to think about the resale value of their home in the future. They invest time and money into their homes, automatically increasing their value. In fact, if everyone in the neighbourhood took good care of their homes, the value would increase on all of them.
4. Word spreads
As more and more same-sex couples move into a particular neighbourhood, the more their friends will follow. If everyone contributes to their home renovations, it increases the value of the entire street.
So, where in Toronto are the best gay-friendly neighbourhoods?
The number one area that people automatically think about as a gay-friendly neighbourhood is in its name… “The Gay Village” is also known as “the village”. It’s near Church and Wellesley Street, and there are many gay-friendly bars and restaurants along this strip where the main action happens year-round and where many of the Pride Month events happen in June.
The east end of Toronto is known to have more affordable real estate listings in the gay-friendly neighbourhoods between Yonge Street and Carlaw Avenue including Cabbagetown, Riverside, and Leslieville. Many of these homes are a great investment if you buy them as a fixer-upper as they have the potential to increase in value quite significantly when the time comes to sell assuming attractive renovations were done.
Heading south to the downcore core of Toronto, there are many trendy shops in downtown King West and the Queen West neighbourhoods; smack dab in the hustle and bustle of the vibrant city.
On the west end of Toronto, many gay-friendly neighbourhoods are more “hipster”, including Parkdale, Roncesvalles, and the Junction. There are many condos and lofts to choose from in this area with a different vibe compared to the East end.
Regardless of which neighbourhood you choose, you can’t beat the sense of pride and inclusion the city of Toronto has. If you’re looking to purchase a home in a gay-friendly neighbourhood… or any area for that matter, give us a call to help you find your dream home with the community vibe you know you will thrive in. We are experts in Toronto real estate and know the city inside and out. We will cater our house hunting plan to your wants and needs and will allow you to take the reins in the search for your dream home. Give us a call at 416-495-2746 or message us here to get started down the right path in your exciting real estate adventure. It’s time you get that Shirriff Wells feeling! Wouldn’t you agree?