Welcome to the Annex, a thriving and dynamic community nestled right in the heart of Downtown Toronto! Although Toronto is a highly sought-after city in general, few places have the character and richness of history that you’ll find here. Steps from the University of Toronto, this is one neighbourhood that has it all. It’s well known for its thriving nightlife, designed to appeal to students but loved by everyone. The air in the Annex is filled with energy and purpose, a vibe you’ll feel everywhere you go. 

With all of Toronto’s best amenities outside your door, there are countless reasons you’ll be proud to call the Annex your next home! Here’s an overview of what you can expect in and around the neighbourhood.

A Warm and Welcoming Community

As we mentioned earlier, there’s an atmosphere in the Annex that is hard to put into words. It’s something that those lucky enough to live here feel every day. Visitors can also sense it, and you will too! 

As it so happens, we now know what it is that draws people to live, work, and visit the area. It begins with this fascinating fact that may or may not surprise you. 

Did you know that Toronto has officially been named the world’s friendliest city? (It is tied for first place with Sydney, Australia). This honour has been bestowed by an online language company called Preply. And this is no made-up designation! They used real, measurable metrics to reach their conclusions. They considered factors like the number of visitors who return to the city, friendliness of staff, and acceptance of diversity, to name a few. 

You will find these attributes in plentiful supply in the Annex. This is one neighbourhood where people of all ages and walks of life come together and celebrate each other. 

The Annex is only one of Toronto’s fantastic neighbourhoods! If you want to explore even more options, the posts below are a great place to start:

World-class Dining and Shopping 

Fabulous restaurants and out-of-this-world shopping, need we say more? Other small towns and cities near the GTA may boast quaint little entertainment districts. But can anywhere else really compare with Toronto? 

Here, you’ll find not only some of the best retailers and brands in the world but more selection than anywhere else could ever offer. With the Annex’s convenient downtown location, all of this is right outside your door or a few blocks away at most. The main shopping district is on Bloor Street, where you’ll find fashion boutiques like Common Sort, St. John Boutique Store and Gucci. At upscale shopping centres like the Colonnade on Bloor and Holt Renfrew, you’ll enjoy access to the best of everything.

And the restaurants of the Annex, where do we even begin? Countless options dot the lively streets, each more fascinating and delectable than the next. Plus, Toronto has an incredible 74 restaurants that have been featured in the enviable Michelin Guides.

Sushi Masaki Saito is well worth mentioning as the only two-starred restaurant in Canada. Though officially in Yorkville, it’s less than 5 minutes away from the Annex by car. Or you may want to work up an appetite by making the 15-minute walk. Be sure to make reservations, however, as this highly sought-after destination is often booked up months in advance.

Other starred restaurants near the Annex include Quetzal (Mexican cuisine) and Osteria Giulia (Italian and seafood). Move your family to the Annex, and all of your tastebuds will be delighted!

Learn even more about this vibrant and exciting neighbourhood in “Everything You Need to Know About Buying a House in the Annex.”

A Dynamic Real Estate Market

For a downtown location, you’ll discover a vast selection of housing structures in the Annex. Condos are plentiful, with even more new developments on the way. The Annex is also home to many architectural beauties designed from 1880 to 1930, including Victorian, Queen Anne, Georgian, and Tudor styles. These older houses boast a rich level of detail and design that is simply unheard of in modern new builds. 

Another thing to note is that many homes in the Annex have the potential to add a laneway suite. This can help you in two ways; it provides a stable source of monthly passive income, and your equity will grow faster. The resale value of a home with income potential can be substantial!

Do you want to know more about laneway suites? Read our detailed article about the topic right here.

Whether you’re seeking a detached home, townhouse or condo, there is one thing you can count on. Buying a house here is an excellent investment as its value is almost certain to rise substantially over time. 

Your Guide to Buying in the Annex

Toronto’s population is growing every day, and the housing supply is unfortunately not keeping pace. As a result, buying a home in a top neighbourhood like the Annex can be a challenging endeavour. However, with the right guidance and a generous amount of patience, the task is not insurmountable! Here are some tips to help you turn your dream of living in the Annex into reality.

Find a real estate agent: A local professional will advocate fiercely to help you achieve the best terms and price the market will allow. Plus, they can often provide access to unadvertised listings, which is invaluable when supply is low.

Create your wishlist: In a competitive market, you may not get everything you write down on your wishlist. However, having a goal in mind will help you stay focused and narrow your search.

Set aside your deposit and down payment: If you have your eye on a property priced at $1 million or more, you will need at least 20% for a down payment. In addition, placing a higher deposit can give you a competitive advantage if you ever find yourself up against other buyers. This little-known fact can help you succeed in a tough market!

Get pre-approved for a mortgage: Having a pre-approval ahead of time allows you to act quickly when you find a home you love. And since you can now safely drop the condition of financing, you can make an enticing offer to a seller. It’s one more competitive edge that can be the deciding factor!

Preparation is essential if you choose to buy your next home in the Annex. Listings are few and far between, but they do come up every now and again. A local real estate team can help you keep an eye out so you can be ready whenever an opportunity arises.

Are you ready to begin your search for your incredible new home in the Annex? We are here to help you through every stage of your journey. Contact us at david@batorigroup.com, bobby@batorigroup.com or call (416) 485-7575 to begin the conversation today.