Some options to consider when looking for condos in the Toronto metropolitan area are outlying communities like Oakville and Mississauga. Living in an outlying municipality does add precious minutes to your morning commute, but it is well worth it when you consider how much money you will save purchasing your condo.
Though most people think of Mississauga as a suburb of Toronto, it is in fact a separate city, the sixth most populous in Canada with a population of over 650,000. The population continues to grow at a rate of 10% per year, which insures appreciation of real estate values. Mississauga is home to more than 18,000 companies from the Canadian headquarters of such manufacturing and retail giants as Pepsi and Wal-Mart to numerous small to medium businesses. Toronto's famous Pearson International Airport is also located in Mississauga.
Although Mississauga tries to disassociate itself from Toronto, the fact is that a large number of Mississauga residents commute to Toronto for work, making it no different than the typical "bedroom community" and an ideal choice for families who couldn't afford enough space for their children to grow up if they were to buy in Toronto proper.
Mississauga has many types of real estate available from townhouses and family homes to condos and apartments. The Park Mansion alone is a tower with over 350 luxury suites, some of which have great views of downtown Toronto. Mississauga also has a large number of planned suburban neighbourhoods with their own schools and community resources that are perfect for families. All of Mississauga's real estate is more reasonably priced than what can be found within the Toronto city limits. However, prices are still much higher than the Canadian average.
Mississauga is a great choice for an out-of-town house, especially if you commute via car, since it is connected to more highways than anywhere else in Canada. Mississauga also has four GO train stations and multiple municipal and GTA bus routes.
Oakville is a separate community as well, with a population of over 165,000, but has not been incorporated into a separate city the way Mississauga has. Oakville is located on the shore of Lake Ontario, which offers its residents a chance at a water view without paying out the nose for it like they would in downtown Toronto.
Oakville is primarily a suburban community, focusing on quiet, tree lined streets and caring communities rather than the impersonal multinational hustle and bustle you would find in Toronto proper. Oakville has many new condo developments which are well worth buying into considering the town's growth.
The town of Oakville is home to the Glen Abbey Golf Course, which has hosted several Canadian Opens on the professional golf circuit, and Sheridan college, a well known post-secondary school for animation and business.
Oakville is connected to Toronto's GO train network through Bronte and Oakville stations, and has its own public transit courtesy of Oakville Transit, making it an excellent place from which to commute from whether you own a vehicle or not.