As a Brampton local and real estate agent, Brampton has always been my favourite city. It is ethnically diverse with most amenities located at a walking distance. Another reason to live in Brampton is its close proximity to Pearson International Airport, Toronto, and Mississauga. If you’re a first-time home buyer with a limited budget, you can easily afford a spacious townhouse in Brampton located in a family-friendly neighbourhood.
What is the average cost of a townhouse in Brampton?
A townhouse is perfect for anyone who wants some extra space but doesn’t want to maintain a detached house. The average price of a 3-bedroom townhouse in Brampton is $1.1M (March 2022), a 34% increase compared to March 2021. Prices grew exponentially after the pandemic due to house supply issues and delays in construction projects due to global supply chain issues.
But I do have some good news to share! There are more houses on the market now compared to January 2022. There are also fewer bidding wars, which means the prices have stabilised to some extent.
Which are the best neighbourhoods to buy a townhouse in Brampton?
Brampton is one of the most populated cities in Southern Ontario with a population of 768,136. I’ve put this list together considering a number of factors including proximity to amenities, green spaces, schools and recreation spaces, public transit options, and family-friendly score.
- Queen Street Corridor
- Kennedy Road South
- Downtown Brampton
- Brampton South
Types of townhouses in Brampton
There are typically two types of townhouses in Brampton : freehold and condominium townhouses.
A freehold townhouse is like any other property in Brampton where you own the land. Once the builder is done building the townhouse, the homeowner is responsible for the maintenance, both inside and outside.
A condominium townhouse is where the homebuyer owns a portion of the condo corporation and not the land it’s built on. The corporation is responsible for maintenance and homeowners have to pay a fixed monthly maintenance fee. It could range anywhere from $300 to over $1000/month.
In downtown Brampton, you’ll find a third type of townhouse called stacked townhouse. Usually, the ground level and first level will be one townhouse and the second and third level is another unit. A stacked townhouse is perfect for young couples who want to build equity and don’t plan to stay there for more than 5 years.
Why is a townhouse a better option than a condo in Brampton?
A townhouse is always a better option than a condo in Brampton because you get more space, a dedicated parking garage, and front yard and backyard. Condos are more affordable and have lower maintenance fees compared to a condo townhouse. However, association rules are stricter in a condo than a townhouse.
Overall, one isn’t better than the other. It’s more about what you can afford and the amenities you want in the house and nearby.
If you have any questions about buying a condo or townhouse in Brampton, I would be happy to help you out. Please fill out the contact form below and I’ll get in touch with you soon.