Downsizing in Vaughan

Overview of downsizing in Vaughan

Vaughan borders Toronto to its south and east, Brampton and Caledon to the west and Richmond Hill to the east. It is made up of several communities that feel quite different, from Kleinburg, which the City describes on its own community page, to the areas near Highway 7. Because the city is large, the neighbourhood you pick matters more than the city name. Spend time in two or three before you narrow down.

Messages from this site go to agents on the operating team at eXp Realty. If you are earlier in the process, read the downsizing guide and the York and Durham overview.

Condos near the subway and other smaller homes in Vaughan

Condominium apartments cluster near transit nodes, while townhouses and bungalows are found in other parts of the city. Condominium ownership means monthly fees and shared rules, and the status certificate discloses the budget, reserve fund and any special assessments. Our buying a condo in Ontario guide walks through the paperwork, and condo, townhouse or house compares the options. Specific buildings are not named here. Ask for fee schedules and governing documents in writing for any building you visit.

Getting around Vaughan by subway, GO and bus

TTC Line 1 reaches Vaughan Metropolitan Centre Station, the terminal station, which opened on December 17, 2017. The station connects to York Region Transit and Viva buses. GO Transit's Barrie line serves Rutherford and Maple stations in Vaughan. Use yrt.ca and gotransit.com for current routes and train times. Cross-boundary trips between York Region and Toronto involve two fare systems, so ask each agency how fares are combined. For driving alternatives, see getting around Ontario after 65.

Hospitals near Vaughan

Cortellucci Vaughan Hospital is at 3200 Major Mackenzie Drive West and is operated by Mackenzie Health. Mackenzie Richmond Hill Hospital, at 10 Trench Street, is in the neighbouring city. Home and community care, and long-term care placement, go through Ontario Health atHome at 1-833-515-1234. If care needs are part of the decision, see aging in place or moving.

Parks and trails in Vaughan

Boyd Conservation Area, at 8739 Islington Avenue, is owned and operated by the Toronto and Region Conservation Authority and sits along the Humber River. Opening seasons and hours change, so check the TRCA before visiting. For libraries, community centres and shopping, use the City's website, as they are not listed here.

Flood maps and storm insurance in Vaughan

Much of Vaughan lies within the Toronto and Region Conservation Authority's area. Search an address in the TRCA flood plain map viewer and its regulated area search. Several river valleys cross the city, so ask about any property near one. Standard home policies typically do not cover overland flooding, which the Insurance Bureau of Canada says is an optional extra offered by many insurers. Read our flood and storm insurance guide before you buy.

Property tax relief and land transfer tax in Vaughan

The City of Vaughan has described two programs for seniors on its news page about seniors' tax support. The Elderly Home-owners Tax Assistance Program offers a $406 credit to owners 65 or older who have lived in the home for at least a year and receive the Guaranteed Income Supplement, based on the 2025 notice. York Region's property tax deferral program covers seniors 65 and over, low-income people aged 55 to 64 and low-income people with a disability, and deferred amounts carry no interest until the property is sold or transferred. Amounts and deadlines change each year, so confirm with the City's tax office.

A seller pays no land transfer tax in Vaughan or anywhere else in Ontario. The buyer does, and Vaughan has no municipal land transfer tax. See the land transfer tax guide and the costs and money page.

Selling the larger home first or buying first

Most people downsizing in Vaughan sell a larger home to buy a smaller one, and the order matters. Selling first gives certainty about your budget but may mean a temporary rental or a long closing. Buying first avoids a gap but can mean carrying two homes for a time. Our guide to buying first or selling first sets out the trade-offs, and capital gains and selling your principal residence explains why the gain on a home that was always your principal residence is generally not taxed, as long as the sale is reported on your return. This is general information, not tax or legal advice. Ask a lawyer or accountant licensed in Ontario about your own situation.

Questions to ask before you buy a smaller home in Vaughan

• How far is the building from Vaughan Metropolitan Centre, a GO station or a bus stop, and is the route step-free?
• What do the condominium fees include, and is there a recent reserve fund study?
• Is the property inside a TRCA regulated area, and what will your insurer cover?
• Which hospital and family doctor will you use, and are they taking patients?
• Do the building rules limit rentals, pets or renovations?
• Are you eligible for the City or Region tax programs, and when is the deadline?

When you are ready, contact us to an agent on the eXp Realty team.