What the housing stock looks like
Scarborough is one of the more affordable parts of Toronto proper, with a large supply of detached and semi-detached bungalows and two-storey homes built from the 1950s through the 1980s. There are also older apartment buildings and a growing number of condo developments near the future Scarborough subway extension and along Kingston Road.
Who tends to buy here
First-time buyers priced out of central Toronto often look to Scarborough for detached homes at a lower price point. It is also home to many multi-generational families and buyers who value larger lot sizes, since many properties here sit on bigger lots than comparable homes closer to downtown.
Financing considerations to keep in mind
Because many homes were built decades ago, buyers should budget for updates to electrical, plumbing, or roofing, and lenders may ask for an inspection report on older properties. Basement apartments are common in Scarborough, and rental income from a legal secondary suite can sometimes be used to help qualify for a larger mortgage, though lenders have specific rules about how much of that income counts.
- Get a pre-approval before house hunting so you know your realistic budget
- Have a home inspection done, especially on older properties
- Talk to your broker early about any rental income, gifted funds, or renovation plans
Transit and commute
The Scarborough RT is being replaced by a subway extension, and GO Transit lines run through Scarborough with several stations offering fast trips to Union Station. Bus service connects most neighbourhoods to the subway network, though commute times vary a lot depending on which part of Scarborough you are in.
Property types to expect
Bungalows and side-split homes are common, along with some larger executive homes in areas like Guildwood and Cliffcrest near the bluffs. Condo buildings are newer and concentrated around major intersections and transit hubs.
Frequently asked questions
- What credit score do I need to buy a home in Scarborough?
- Lenders look at more than just your credit score, but generally a higher score gives you access to more lenders and better terms. Even if your credit isn't perfect, it is worth talking to a broker before assuming you don't qualify, since there are often options across different lenders depending on your overall financial picture.
- How much do I need for a down payment in Scarborough?
- The minimum down payment in Canada depends on the purchase price, with lower percentages required on lower-priced homes and higher percentages on more expensive ones. Because home prices vary a lot within Scarborough depending on the property type and neighbourhood, it is worth getting a personalized estimate based on the specific homes you are considering.
- Should I get pre-approved before house hunting in Scarborough?
- Yes, a pre-approval gives you a realistic price range before you start looking, which helps you avoid falling in love with a home outside your budget. It also signals to sellers that you are a serious buyer, which can matter in a competitive offer situation.