Downsizing in Yonge-Eglinton

About downsizing in Yonge-Eglinton

The City of Toronto uses Yonge-Eglinton as the official name of this neighbourhood, and the name matches the crossing of two major streets in midtown Toronto. Real estate marketing sometimes stretches the label to nearby blocks, so check the address against the city's boundary.

Like all of Toronto, it is served by the City of Toronto government, so the Municipal Land Transfer Tax and the city's property tax relief programs apply.

The City of Toronto's official name for the area is Yonge-Eglinton. This page describes that neighbourhood only, not the whole city. For the wider picture, see the Toronto region page.

Messages on this site go to agents on the operating team at eXp Realty.

Smaller homes in Yonge-Eglinton for downsizers

Condominium apartments are a significant part of the home types here, with townhouses and smaller houses also available. We do not name individual towers on this page. A building's name does not tell you whether it is a condominium or a rental, and the difference matters to an owner.

If you are leaving a larger home, condo, townhouse or house and buying a condo in Ontario cover what to compare. Aging in place or moving is helpful when the decision is still open. Ask for the fee schedule, the reserve fund study and the building's rules on renovations before an offer.

Getting around Yonge-Eglinton without a car

The TTC lists both Line 1 and Line 5 Eglinton among its lines. Use the trip planner to confirm which stations and routes are closest to a specific address and to plan trips to appointments. We do not name stations here because we only state what an agency page confirms.

For regional trips see GO Transit. UP Express, operated by Metrolinx, connects Union Station and Pearson Airport, so you would normally link to it from the TTC. Walkability varies block to block. Visit at the times you would travel.

Hospitals near Yonge-Eglinton

Sunnybrook Health Sciences Centre at 2075 Bayview Avenue lists its Emergency Department at the Bayview Campus on its website. Whether it is your closest option depends on the address, so check the route and confirm the services you need. For a medical emergency, call 911.

Everyday life in Yonge-Eglinton

Use the City of Toronto's parks, gardens and beaches pages and the library branch finder to see what is nearby. A condominium here often comes with its own amenities, which are priced into the monthly fee, so read the budget. Walk the immediate blocks at the times you would shop and visit a doctor.

Flood mapping and insurance in Yonge-Eglinton

Flood risk in Toronto is mapped by the Toronto and Region Conservation Authority. Its Flood Plain Map Viewer shows riverine flood plain extents only, and it says a property can still be in a TRCA regulated area outside the flood plain. The viewer does not show urban flooding from local drainage limits, so it is not the whole picture. Check the address, then ask your insurer about overland flood and sewer backup coverage. Our flood and storm insurance guide explains the questions to ask.

Property tax relief and land transfer tax in Yonge-Eglinton

Property in Yonge-Eglinton is taxed by the City of Toronto. The City publishes a property tax and utility relief program with two options: a Property Tax Increase Cancellation and a Property Tax Increase Deferral. Both have household income limits of $62,000, the cancellation also has an assessment limit of under $975,000, and the City says to reapply each year. Read the City's page for current rules.

A buyer in Toronto pays two land transfer taxes: Ontario's and the Toronto Municipal Land Transfer Tax. For a home between $400,000 and $2,000,000 both use the same tiers. On a $900,000 purchase each comes to $14,475, or $28,950 combined, compared with $14,475 outside Toronto. The seller pays neither. The land transfer tax guide has the tiers and the figures are for 2026. See costs and money for other closing costs.

Planning a move to or from Yonge-Eglinton

Most downsizers in Yonge-Eglinton face the same sequence: decide what to keep, price the current home, work out how the sale and the purchase will line up, and budget for the move itself. The step-by-step downsizing guide walks through it. If you are helping a relative, helping a parent sell their home covers who can sign and what to prepare. If you want a community with an age requirement, browse the 55+ communities directory, and read life lease and land lease homes before you sign anything unusual.

None of this is legal, tax or financial advice. Questions about title, a condominium's documents or the tax treatment of your sale belong with a lawyer and an accountant licensed in Ontario. Check the seller disclosure guide to see what you can and cannot leave out when you sell.

Questions to ask before you buy in Yonge-Eglinton

• What are the monthly fees, and what is included?
• When was the last reserve fund study, and are special assessments expected?
• Are there limits on renovations or pets in the building?
• Is the unit freehold, leasehold or a life lease?
• Which station or route is closest on the TTC trip planner?
• Is the property in a TRCA regulated area?
• How would you reach Sunnybrook or your doctor?

When you are ready, contact us to an agent on the operating team. See also the downsizing guide and resources.