buy toronto island home

You can now apply to purchase a very rare house on the Toronto Islands

Opportunities like these don't come very often, the very rare Purchasers' List for buying properties on the Toronto Islands is now open.

Opening today, Oct. 4, until Nov. 1, the list is a requirement for potential purchasers of island homes and land leases.

This very rare list only opens once every two years and can only hold 500 names, meaning if sometime in the far future you want to live on the island, now is the time to set your plan in motion.

How does it work?

When an island home and lease comes up for purchase, the first 150-200 listings are notified by the trust of the offer. Though buyers are normally found within the first 100 names, properties have been bought as far down as the 196th listed name.

Homes and leases, by law, can only be purchased by people on the list.

The downside is that island houses aren't sold very often and there really is no telling of when you could be able to purchase and move in.

"While the Trust cannot predict sales on an annual basis; we anticipate that we will sell an average of one to two houses per year. In addition, over the past few years, an average of 15 to 20 people each year have not renewed their place on the list," according to the island website.

A lease, which is a one-time payment, is currently around $60k for Ward's Island and $78k on Algonquin Island. Another detail is that your must use your island home as your primary residence and not as a summer or vacation home.

House prices range from $50k - $700k, and do not account lot size or location to determine the value of the home. 

Since the list was first created in 1994, a mere 70 homes and leases have been sold. There are 260 homes on the islands.  

Submit your form online or by mail with a $20 application fee and you'll be one step closer to Island living, someday!

Lead photo by

pixel_monkie


Latest Videos



Join the conversation Load comments

Latest in Real Estate

This ultra-modern Toronto home with an elevator is for sale at $10.8 million

Cigar boxes used to be made in this $729K Toronto home

You can double the size of this historic Toronto building that's for sale for $13.5 million

Ontario is finally making it easier for landlords and tenants to fight each other

Toronto home just sold for $1.5 million under initial asking price

Average Toronto-area home prices have fallen by almost $300K since February

People are fleeing Toronto home prices to cheap off-grid communities in Ontario's north

Century-old Toronto house has seen a $10 million price increase in just six years