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?
| Criteria | Best Option |
|---|---|
| Budget under $750K | Condo |
| Long-term investment | Freehold |
| Want downtown living | Condo |
| Growing family | Freehold |
| First property | Condo (with careful selection) |
| Maximum resale value | Freehold |
📞 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.
