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Caledon (2016 population 66,502) is a town in the Regional Municipality of Peel in the Greater Toronto Area of Ontario, Canada. Caledon is a developing urban area although it remains primarily rural. It consists of an amalgamation of a number of urban areas, villages, and hamlets; its major urban centre is Bolton on its eastern side adjacent to York Region.
Caledon is one of three municipalities of Peel Region. The town is just northwest of the city of Brampton. At over 688 km², Caledon is the largest city or town by area in the Greater Toronto Area.
Maclean’s magazine named Caledon the safest town in Canada to live in for two years running during the 2000s. In their 2018 list, Caledon was listed as the 20th safest.
While Peel Region includes the big cities of Brampton and Mississauga, it’s the small rural town of Caledon that comes out on top when it comes to real estate prices. According to the Brampton Real Estate Board, the average price of a detached property in Caledon in the summer of 2017 increased 32% year-over-year to $1.08 million, while the price of a semi-detached property advanced 24% to $692,085. The average price of a condominium townhouse in Caledon was around $567,500 and the average selling price of a condominium apartment was $610,286.
With the average price of a property in Caledon up 27% year-over-year at $983,678, semi-detached homes, townhouses, and condominiums are the most viable option for the majority of first-time buyers.
For home buyers in Caledon looking to find the best mortgage rates and terms, the best place to start is with a mortgage broker, with access to private mortgage lenders. Yes, Canada’s big banks and trust companies provide mortgages, but they only pitch their own financial products. They’re just there to make a sale, even if it’s not in your best interests.
A mortgage broker is different from the bigger lenders because we’re independent. This means the mortgage professionals put your needs first.
How do we do that? Because we’re independent, we have access to hundreds of different private mortgage lenders. We’ll make sure we find you the mortgage that suits both your financial and lifestyle needs.
That means more than just providing you with the lowest interest rate. The licensed mortgage experts also want to make sure you understand the fine print, like the terms and conditions, which, like low interest rates, can save you money and make your day-to-day life easier. This includes understanding the amortization period, whether your mortgage is a fixed or variable mortgage, whether it’s open versus closed, or whether it has an accelerated repayment program.