Downsizing in Toronto

What downsizing in Toronto involves

Toronto is a single-tier municipality, so the City of Toronto handles property tax, zoning and local services across all of its neighbourhoods. The City divides itself into 158 official neighbourhoods for planning and statistics, and this site uses those official names.

Messages on this site go to agents on the operating team at eXp Realty. We publish no prices or market statistics. Ask an agent for current listings and sold data.

Condos and smaller homes in Toronto for downsizers

The smaller-home types in Toronto include condominium apartments, townhouses, semi-detached houses and houses on smaller lots. A condominium comes with monthly fees, a reserve fund and a status certificate; read buying a condo in Ontario before you make an offer. The trade-offs among the three options are laid out in condo, townhouse or house, and buy first or sell first covers the timing.

Some downsizers consider life lease or land lease homes, which are different from owning freehold or a condominium. Read life lease and land lease homes before you commit.

Getting around Toronto: TTC, GO and UP Express

The TTC runs the city's transit and lists Line 1, Line 2 and Line 5 Eglinton among its subway and light rail lines. Its trip planner covers the Greater Toronto and Hamilton Area and is where to see what serves an address. GO Transit runs regional rail, including the Lakeshore West and Lakeshore East lines. UP Express connects Union Station and Pearson Airport, with stops at Bloor, Mount Dennis and Weston. We name stations only when an agency page confirms them; for anything else, use the planners. Getting around Ontario after 65 covers planning for the years you may not drive.

Hospitals in Toronto

Toronto has many hospitals; the neighbourhood pages name the ones confirmed on their own sites. Examples include Sunnybrook Health Sciences Centre at 2075 Bayview Avenue, North York General Hospital at 4001 Leslie Street and Michael Garron Hospital at 825 Coxwell Avenue. Services and emergency arrangements differ by site, so confirm what you need with the hospital.

Flood and storm risk in Toronto

The Toronto and Region Conservation Authority maps flood plains and regulated areas across the city. Its Flood Plain Map Viewer shows riverine flood plains only and leaves out urban flooding. TRCA also says a property can be regulated outside the flood plain. Read flood and storm insurance when downsizing for the questions to ask an insurer.

Toronto land transfer tax and property tax relief

A buyer of property in Toronto pays two taxes at closing: Ontario's Land Transfer Tax and the Toronto Municipal Land Transfer Tax. The seller pays neither. For a home up to $2,000,000 the two use the same tiers: 0.5% to $55,000, 1.0% to $250,000, 1.5% to $400,000 and 2.0% above that. Toronto's graduated rates above $2,000,000 took effect April 1, 2026.

Figures use 2026 rates and exact dollars. A lawyer confirms the amount at closing. Most downsizers have owned before and will not qualify for first-time buyer refunds. See the land transfer tax guide.

The City also publishes a property tax and utility relief program with a cancellation and a deferral of increases, each with income limits of $62,000. Selling your principal residence is generally free of federal tax on the gain; read capital gains and selling your principal residence and costs and money.

Choose a Toronto neighbourhood

• Downsizing in The Beaches
• Downsizing in Mimico and Humber Bay Shores
• Downsizing in Leaside
• Downsizing in Yonge-Eglinton
• Downsizing in Willowdale
• Downsizing in Guildwood

All municipalities in Toronto

When you are ready, contact us to an agent. The downsizing guide and resources cover the steps and the help available.