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If you’re planning to buy real estate in Toronto or the Greater Toronto Area (GTA), one of the first questions you’ll face is:

Should I buy a condo or a freehold property?

The answer depends on your goals, budget, and timeline — but the Toronto market in 2025 is revealing some important patterns. In this post, Mike Yat, one of Toronto’s leading realtors, breaks down the key differences to help you make a smart, informed decision.


🏢 Condos in Toronto: Pros, Cons & 2025 Outlook

Condos are typically the most accessible entry point into Toronto real estate, especially for first-time buyers and downtown dwellers.

✅ Pros of Condos:

  • Lower purchase price than freehold
  • Often located in high-demand, central neighbourhoods
  • Lower maintenance (building handles repairs, snow removal, etc.)
  • Great amenities (gyms, pools, concierge, etc.)

❌ Cons of Condos:

  • Monthly maintenance/strata fees
  • Less space and privacy
  • Risk of special assessments
  • Limited control over renovations or policies
  • Slower appreciation in some areas

🔮 Condo Outlook for 2025:

While new construction is slowing down due to red tape and rising development costs, Toronto’s growing population means condos will remain in demand — especially larger units in well-managed buildings. Avoid micro-condos under 500 sq. ft., which may underperform long-term.


🏡 Freehold Properties in Toronto: Pros, Cons & 2025 Outlook

Freehold homes — including detached, semi-detached, and townhomes — are typically more expensive upfront, but offer greater long-term upside and autonomy.

✅ Pros of Freeholds:

  • You own the land — no monthly condo fees
  • Greater control over renovations and use
  • Typically faster appreciation
  • More space, privacy, and storage
  • Better resale value in family-oriented areas

❌ Cons of Freeholds:

  • Higher maintenance responsibilities
  • Larger property tax bills
  • Often located farther from downtown core
  • Limited supply in hot areas

🔮 Freehold Outlook for 2025:

With limited new supply and increasing competition in suburban markets, freeholds are holding value and appreciating faster than many downtown condos. They’re an especially smart buy for families, long-term investors, and buyers looking for stability.


💼 What Does Mike Yat Recommend in 2025?

“If you’re planning to hold for the long term, freehold homes offer more upside and resilience in a shifting market. But if you want convenience, lifestyle, or downtown access, look for larger condos in well-run buildings — and avoid tiny layouts.”

Mike helps his clients evaluate not just the property, but how it fits their 5- to 10-year plan.

🤔 So… Should You Buy a Condo or Freehold in Toronto?

CriteriaBest Option
Budget under $750KCondo
Long-term investmentFreehold
Want downtown livingCondo
Growing familyFreehold
First propertyCondo (with careful selection)
Maximum resale valueFreehold

📞 Let’s Find the Right Fit for You

Whether you’re still unsure or ready to view listings, Mike Yat is here to help you navigate Toronto’s market with confidence. Book a consultation and get expert guidance on finding the right investment — condo or freehold.