Buying and Renovating Homes in Caledon

Posted On July 25, 2024

An upscale town with all the charms of the Peel countryside, Caledon is just a hop, skip and jump from downtown Toronto and Brampton.

Verdant rolling hills, gushing waterfalls and rural scenes at their finest – Caledon offers all this and more. Located on the GTA’s doorstep, so to say, this predominantly rural area benefits from all the conveniences of the metros, including top-notch healthcare, world-class infrastructure and renowned academic institutions.

Green Spaces, Real Estate and Liveability

Caledon has an abundance of parks, conservation areas, trails, golf courses, and recreation programs, such as the Glen Haffy Conservation Park, Palgrave Forest and Wildlife Area, and Caledon Trailway. This is primarily due to the fact that over 75% of the land is protected by Ontario’s Greenbelt, the largest in the world. The Greenbelt includes green spaces, farmland, communities, forests, wetlands, and watersheds.

A population of over 76000 residents is spread over 688 sq. km of land, with about one-third of them living in Bolton, the largest community. A seductively high quality of life is almost guaranteed in Caledon, with the many opportunities for rural businesses, recreation, and housing options. The town has a well-maintained historical heritage and a flourishing art and culture event calendar.

Increasingly, it is no longer just a relaxing countryside getaway from bustling city life but a sought-after place to put down roots and even set up or expand your business.

The cherry on the cake is its booming real estate market, which has kept pace with its popularity. Think country estates, heritage properties, single-family homes, semi-detached homes, and town homes. But homes in Caledon are not cheap – the average price of a home for sale in Caledon was $1,321,114 in June 2024.

On the other hand, Caledon has lower home prices, property taxes, and grocery costs compared to Toronto. The town boasts a thriving economy with abundant career opportunities and a low unemployment rate of 4.2%. Caledon is a 45-minute commute to Toronto with readily accessible major highways and train services, adding city job prospects to the mix.

Caledon Neighbourhoods

Is it worth it?

Well, you have to decide for yourself.

Just in case you are interested in buying a home or investing, we have listed some neighbourhoods below that are worth exploring.

By far the largest community in Caledon, Bolton is renowned for its beautiful parks, recreational facilities, and superlative school system. The charming downtown, with its colourful shops and restaurants, is another reason to consider living here.

Caledon East is another community celebrated for its green spaces, sports facilities, and trails. This family-friendly, growing neighbourhood is where you are most likely to find newer homes along with older residences. A fairly new neighbourhood strategically near major highways is Southfields Village. This is a good choice for first-time homebuyers and families, offering excellent schools, parks, and a thriving community.

Valleywood, Mono Mills, Alton Village, Cheltenham and Inglewood are other prime real estate opportunities in Caledon. Picturesque communities that offer a tranquil, family-friendly environment and a mix of old-world architecture and charm with modern homes and conveniences.

However, if you wish to soak in the expansive green spaces of rural life, then Palgrave and Belfountain are your best bets. If you like horse riding, look no further than these two serene havens.

You might need to dig deeper into your finances in order to afford a home in this suburban paradise, but it is worth all the effort when you finally settle down in Caledon.

Why Home Improvements?

As mentioned earlier in the article, while Caledon is a lovely place to live, it does require you to save for a hefty down payment. This means that you may not always end up buying the space you need.

However, you can definitely expand your home with renovations and improvements.

Other than the common factors such as privacy, safety and maintenance, there are multiple reasons why homeowners invest in home improvement projects, including:

• Upgrading outdated appliances and systems
• Adult children moving back in with their parents until they can save for a downpayment
• Building rental suites to help with their mortgage payments
• Buying homes with family or friends to invest in property while pooling resources
• Inviting aged parents to move in to help look after kids, save money or for assisted living

Tips for Home Renovations

Home improvements and renovations can range all the way from minor or cosmetic changes to a significant overhaul of the property’s structure and systems.

Strictly speaking, repair and maintenance are not home improvements. Home improvements are identified as changes that enhance a property’s value. These include building new additions such as a new room or making your attic/garage/basement a habitable space.

Buying a new property may sometimes be easier than getting renovations done under budget and on time. It is not an impossible task either, as long as you do your homework first.

Make a list of your needs and wants, whittle it down to what fits into a reasonable budget. We recommend that you shop around for estimates to get a better idea of the costs and timelines.

Most reputable contractors will take the time to do a site visit and put together an estimate. Depending on the job, they may charge you for a thorough estimate, up to $500—usually, the successful contractor will credit the sum against the final charge. Make sure that you get a timeline of the work as well as a payment schedule.

A good contractor is the lynchpin of your home renovation. Choose well and insist on regular and open communication with your contractor, complete with weekly updates and follow-ups.

Check to ensure that your contractors have an alternative or backup in case of delays or availability issues of material or labour. This will go a long away in making the process more manageable and less stressful.

Budgeting for Home Improvements in Caledon

If you are outgrowing your home in Caledon, you may choose to invest in upgrading and expanding your property. In addition to the tips in the previous section, we have also listed the steps to ensure you undertake home improvement projects with a well-thought-out budget to avoid disappointments and loss of time and money.

Break Down the Costs

The costs for home renovations can vary depending on the project size, complexity of the work, the materials and fixtures used, and applicable permits. Research on your own and compare 3-4 detailed estimates from different contractors. This will help you get a better picture of how much the project is likely to cost.

Prioritize Your Needs

You need to have a priority schedule for the project. It could be the kitchen countertop or the plumbing in the bathroom—you decide which task gets done first. This will help you and the contractor work together more efficiently and in alignment with your needs.

Think Local Resources

Ask around and take advantage of local resources and expertise wherever possible. Reputable contractors, designers, and home improvement specialists who are familiar with the Caledon market and regulations will help you fit your renovation goals within your budget.

Plan for the Unexpected

No matter how well you plan, you must always factor in the unexpected when budgeting for home improvements. There are several unexpected issues that may crop up during the renovation process, such as structural problems or hidden damage, leading to additional costs. Make space in your budget for a contingency fund (about 10-20% of the total project cost) to ensure you can absorb any nasty surprises.

Compare Financing Options

Depending on the scope of work, materials, upgrades, and finishes, you should be ready for costs from $100 to $200 per square foot. Of course, for the more exclusive, top-end projects, the prices will be correspondingly higher.

Depending on the project’s size, you can explore various financing plans. Options include leveraging your home equity, securing a personal loan, or taking on a home renovation loan. Choose the best solution that fits your finances and renovation plan.

Grab Your Slice of Charming Caledon

Caledon is a captivating blend of rural charm, urban convenience, and high quality of life, making it an exceptional choice for your home. With its engaging communities, solid economy, excellent infrastructure, and good records of safety and education, Caledon offers a chance to invest in your own slice of paradise.

We do understand that even paradise needs to be maintained and revamped. Being a homeowner comes with several responsibilities, and we urge you to educate yourself.

Regular home maintenance will help ensure your home is in good shape and lasts longer. It also gives you the confidence to take on the inevitable upgrades and renovations. That is where our tips for your home improvement projects can help transform your property for your changing needs.

Take your time, do your homework, and be calm – we promise you it will all come together.

If you want to know more about real estate in Caledon or across Canada, contact us, and we will help you uncover the secrets of property investing.