534 Westmount Avenue in Toronto: Oakwood Village House for sale (Toronto C03) : MLS®# C12076994
Looking for the cheapest house for sale in Toronto? You’re not alone. With rising prices across the GTA, finding an affordable detached or semi-detached home is a smart move—especially for first-time buyers or investors. Our curated listings feature the most budget-friendly houses in Toronto’s diverse neighborhoods without compromising on location or lifestyle.
Welcome to this character-filled semi-detached bungalow in sought-after Oakwood Village. This unique home blends comfort, versatility, and potential; a perfect opportunity for first-time buyers, savvy investors, handy people, or multigenerational families. Step through the glass-enclosed front porch into a bright and inviting main level featuring an open-concept kitchen and family room ideal for relaxed living or entertaining. The spacious primary bedroom boasts a renovated 3-piece ensuite and walk-out access to the backyard, creating your own private retreat. The second bedroom includes a charming loft space, perfect as a third sleeping area, a creative hideaway for kids, or clever additional storage. Downstairs, a separate entrance leads to a 1-bedroom basement apartment or in-law suite. Complete with its own kitchen, renovated 3-piece bath, and laundry/storage room, this space offers excellent income potential or comfortable extended family living. Updates include a new energy-efficient heat pump and A/C (2023), and a newer roof (2022). Bonus legal (permitted) private outdoor parking pad. Street permit parking also available. While this home may need a few finishing touches, its brimming with possibilities, bring your vision and make it your own! Just steps from parks, schools, TTC transit, and all the vibrant amenities of Oakwood Village, this is a rare opportunity you wont want to miss.
Property Type:
Residential Freehold
Property Sub Type:
Semi-Detached
Home Style:
Bungalow
Approx. Age:
100+
Total Approx Floor Area:
< 700
Depth:
120'36.6 m
Frontage:
15'4.57 m
Direction Faces:
West
Bedrooms:
2+2
Bathrooms:
2.0
Water supply:
Municipal
Kitchens:
2
Kitchens in Basement:
1
Bedrooms Above Grade:
2
Bedrooms Below Grade:
2
Kitchens Above Grade:
1
Rooms Above Grade:
5
Rooms Below Grade:
3
Ensuite Laundry:
No
Fractional Ownership:
No
Assignment:
No
Heating type:
Heat Pump
Heating Fuel:
Gas
Foundation:
Poured Concrete
Roof:
Shingles
Basement:
Separate Entrance, Apartment
Fireplace/Stove:
No
Garage:
None
Garage Spaces:
0.0
Other Structures:
Shed
Parking Features:
Front Yard Parking
Parking Spaces:
1
Total Parking Spaces:
1.0
Family Room:
Yes
Possession Details:
ASAP
Pool:
None
HST Applicable To Sale Price:
Included In
Assessment Year:
2024
Taxes:
$3,197 /
2025
Assessment:
$- /
2024
Toronto C03
Oakwood Village
Toronto
Public Transit, School, Park, Fenced Yard
Water Heater Owned
None
SS Fridge (Main), Gas Stove (Bsmt), Fridge (bsmt), washer, dryer, tankless HWT
Data was last updated April 26, 2025 at 12:15 PM (UTC)
Area Statistics
Listings on market:
10
Avg list price:
$999,500
Min list price:
$599,000
Max list price:
$1,995,000
Avg days on market:
20
Min days on market:
2
Max days on market:
32
These statistics are generated based on the current listing's property type
and located in
Oakwood Village. Average values are
derived using median calculations.
Even in one of Canada’s most competitive markets, there are still opportunities to own a home in Toronto under $700,000. Whether you’re looking in Scarborough, North York, or further west, you’ll find affordable options that include:
Detached and semi-detached homes with renovation potential
Freehold houses in emerging or transitional areas
Homes close to public transit, parks, and local shops
Opportunities for investment, rental income, or personal use
Why Buy a Low-Priced House in Toronto?
Toronto’s real estate market continues to grow—making an affordable home a valuable long-term investment. These properties may need some TLC, but they often come with:
Lower property taxes and monthly costs
Room to build equity with upgrades or improvements
Faster entry into the housing market before prices rise again
Navigating the Home Buying Process
Buying an affordable house in Toronto involves several key considerations, such as financing options, property condition, and potential resale value. Our resources and expert guidance are designed to help you navigate these factors, ensuring a smooth and informed buying process. We offer advice on home inspections, mortgage options, and investment strategies to help you make the best choice for your needs and budget.
Start Your Search for the Cheapest House in Toronto Today
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FAQs – Cheapest House for Sale in Toronto
1. What is considered the cheapest house in Toronto right now? Prices can start around $500,000–$700,000, depending on location and property type.
2. Which Toronto neighborhoods have the most affordable houses? Areas like Scarborough, Weston, and parts of North York often have lower-priced listings.
3. Are cheap houses in Toronto good for investment? Yes. Homes in emerging neighborhoods often appreciate faster and can offer solid rental income.
4. What should I expect from the cheapest homes? They may need cosmetic upgrades or repairs, but they’re a great way to enter the market.
5. Can I get a mortgage for a low-priced home in Toronto? Yes. Most banks offer mortgage options for lower-priced homes, especially for first-time buyers with incentives.