Before you start looking for a house in Central Toronto, map out where you work, where you like to go after work and where your friends live. Are you close to Rosedale, Forest Hill, The Annex or Lawrence Park? What are your interests and hobbies and where do you go for them?  Answer these questions and chances are you have identified one or more areas that you would feel safe and happy living in.

Once you have identified an area of choice, start exploring what kind of housing is available and at what price. If you listen to the dictates of your own lifestyle, you will discover that a particular type of housing is just right. It may be a single family detached, semi-detached, attached, freehold, condominium, condominium townhouse, duplex, triplex, 6-plex...it all depends on what type of accommodation would be congruent with the way you live.

If your first area of choice is financially beyond reach, repeat the above process until you identify an area you can afford. I promise you that when you do, you will not be alone. This is how areas become trendy. The next big thing in neighbourhoods is created by individuals like you - one buying decision at a time.

House buying wasn't always linked in our minds with investing. At today's prices, however, we want some comfort that the money is being used wisely. The shopping process we have discussed will make you feel safe and happy. Now let us consider how best to spend the dollars.

The most important rule is the Rule of Progression. Progression is buying a property at the low end of the neighbourhood's/street's price range. The value of the more expensive neighbouring properties will guarantee your purchase holds its value. (Regression is buying the biggest house in the neighbourhood.)

Remember the story of the three little pigs? The pig that bought the brick house survived the murderous wolf. Buy the brick house if you can, but by all means settle for the wooden one if it obeys the Rule of Progression.

 Best wishes for success,

 Peter

 (416) 925-9191

 www.PeterRussellRealEstate.com