Surprisingly, there can be some cons to owning waterfront Toronto property. This article will detail what’s great and not-so-great about living on the waterfront in Toronto.
Many people dream about having a view of the water from the living spaces in their home, so it almost seems like a no-brainer to purchase a property on the waterfront. But, there are a few (not many) downsides to living on Toronto’s waterfront.
Perks of a Waterfront Property
The most basic perk of living on the Toronto waterfront is the incredible view. If you can see Lake Ontario from your balcony, living room and sometimes even your bedroom, there aren’t many views that can beat it. Looking out to the water is very relaxing. This sort of peacefulness can come with some health benefits. People who live near the water are said to be calmer and sleep better. While Lake Ontario is not the ocean and is still located in a hectic city, living on Toronto’s waterfront will still provide you those health benefits.
Studies have proven that people who imagine calm water rest better and what way to imagine it than to actually look at it? Not on relaxing your body, water provides great cognitive effects, making you feel clearer and therefore more productive.
As well, even if you don’t have that water-view from your property, being within walking distance of the waterfront is great for your health too. Taking a walk by the wateris just as good for the brain and body (or even better) as looking at it from the window of your condo. You’ll probably walk or run more (or even bike or rollerblade) because you’ve got the water at your doorstep.
When you are that close to the water, you’ll also be able to participate in a number of water sports like kayaking, canoeing and boating.
From a practical standpoint, your waterfront property is also an investment. There is only so much waterfront to go around and while it seems as though there are a number of condo buildings to choose from, at some point waterfront properties will be very scarce in Toronto, meaning your property will only increase in value.
Cons of a Waterfront Home
While the pros definitely outnumber the cons, there are a few to consider.
First, any property that has a view of the lake will right off the bat be more expensive. You’ll have to decide if the view is worth those extra dollars (in many cases it is, if you can afford it).
Second, some people have complained about the noise from the Island Airport in certain spots, but others love watching the airplanes from their balconies.
Third, because the area around the lake is so great, it tends to get a lot of tourists. I can’t say that the Toronto waterfront area will ever be quiet or peaceful, but it will definitely always be busy. This isn’t a Muskoka cottage, it is downtown Toronto.
You’ll also want to be sure to choose a condo that might have a waterfront view now, but that won’t be obstructed in the future by another development.