According to a census conducted in 2022, Richmond Hill has a population of more than 202,000 people. This city is 23 km north of Lake Ontario. The city occupies an area of 100.8 km2. This city is best known as home to Canada’s largest telescope. It is strategically positioned with Vaughan to the west and south, Aurora to the north, Whitchurch-Stouffville to the east, Markham to the east and south, and King Township to the west. In every election, a mayor who is in charge of the city is elected alongside six local councilors who head the six wards available in the city. Two deputy mayors who represent the city on York Region’s council are also elected. The above history might perhaps make you interested in investing in preconstruction homes in Richmond Hill at any given time.
Living in this city is something that anyone can admire in their life. By saying this, I mean life in Richmond Hill is worth anything you could compare it with because it is among the top six best places to live and work in Canada. This city is one of its kind. This city has several attraction sites that can make you enjoy life there, for example, David Dunlap Observatory, Wilcox Lake, Mill Pond Gallery, Hillcrest, Bond Lake, Richmond Hill Centre for the Performing Arts, The Burr House Craft Gallery, and the Tea Room. Several reasons will make you want or admire living in this city. Some of those reasons are as follows:
Richmond Hill is a good business hub
This is a city that is increasingly growing and developing. As of now, this city is home to more than 5,000 businesses which play a major role in the growing economy. People have realized the importance of investing in this city and they are quickly taking advantage of that. The environment here is favorable for businesses and they can grow fast and within a short time. So if you are into business, this is the place for you to thrive.
Quiet and peaceful place to live in
It is not a very big city and therefore noise pollution here is minimal as compared to other large cities within Canada. Am sure no one wants to live in a very noisy place that doesn’t guarantee anyone peace of mind. If you are a student you can comfortably conduct your studies while in your room in this city with ease. The peace in this city can also be attributed to the able and more functional council that is in place. Good governance is a recipe for peace and well-being.
A rich multi-cultural living experience
Richmond Hill has people of various races and cultures and therefore this makes it to have a rich multi-cultural living experience. There are 126 different languages spoken in this city. Social events or activities take place in this city throughout the year. This plays a key role in promoting diversity through bonding and interaction of different people and therefore discrimination and wars are not likely to be experienced in this city. A good example of a social event in this city is Heritage Day.
Numerous recreational parks
Richmond Hill is blessed with many parks that offer a good environment for families to hang out and chill during their free time. After work, the body needs to rest and relax and for that reason, the availability of parks has taken care of that. There are a total of 166 parks in this city. A good example of a good park in Richmond Hill is the Richmond Green Sports Centre and Park. This park is among the largest parks in the city. This city is also rich in swimming pools and therefore you have no reason to worry during summer.
Richmond Hill also offers a good golfing experience.
Golf is a sport that has taken full charge of this city. Remember golf is a sport associated with the rich and therefore this also explains the status of this city. There are several golf clubs in this city. Richmond Hill Country Club is a perfect example of a good golf club found in this city. Sporting activities play a great role in ensuring people live healthy life. If you have an interest in this sport then this is the place for you to live and enjoy life.
Availability of jobs
There are various job opportunities readily available in Richmond Hill. If you have a dream of getting a good job that will help you to sustain yourself then you should be thinking of trying your luck in this fantastic city. There are nice jobs that pay from $15 upwards per hour. This is something good that you can start with as you elevate yourself further. The jobs in this city have to be available because Richmond Hill is among the cities with the most educated workforces in Canada. Over 50% of residents in this city have a university degree. This explains the demand for jobs in this city and therefore the responsible people for example businesses and organizations have to provide jobs to cater to the high demand. Another thing you should know is that there are more than 73,000 jobs which have been created by the numerous companies in this city. Mackenzie Richmond Hill Hospital is the largest employer in Richmond Hill.
Housing is not a big problem in this city
There are affordable houses that are readily available for purchase. Houses are beautiful and well designed in this area. Anyone who wants to settle in their own house has nothing to worry about because Richmond Hill has very nice and beautiful houses that cost different prices according to the location within the city. The bottom line is that there are good and affordable houses in Richmond Hill.
Free parking in most areas
Living in this city will also guarantee you free parking in most of the parking areas. Am sure this is something that every car owner wishes to get since parking fees can be hectic in areas where the fees are extremely high. In addition to that, you will not experience traffic jams like in other cities because Richmond Hill doesn’t experience traffic jams. This will help you to save quite a lot of time and you can always be sure of arriving at your various destination in the expected time.
The housing situation in Richmond Hill
The real housing situation in Richmond Hill is fairly stable. I say fairly stable because there are several houses which are very expensive in this city. This means that for you to be able to purchase a house here you have to be earning a very good and significant amount of money that will enable you to save as much as possible for you to get that one house that you desire to have. Prices also vary according to the type of house. For instance, detached houses cost more while condos are the cheapest. Detached houses tend to be more expensive due to their stand-alone nature.
Housing is a very important sector not just in Richmond Hill but also in every city across the globe. In Richmond Hill, there are all types of houses you can wish to have or live in. Apartments, condos, semidetached homes, townhomes, and single detached homes are all available in this city. Maybe you may be wondering what type of house is this, don’t worry because you will know the difference right now.
Condos – it is also known as a condominium. It is defined as a residential that has separate units each owned by an individual who rents it directly from the condominium owner.
Townhomes – a townhouse is simply a multi-story house in a modern housing development that is attached to similar houses by shared walls.
Single-detached home – this is a single house that is not attached to any other house. There is usually open space around this kind of house.
Apartment – also known as a flat. An apartment is a unit that occupies part of a building and is self-contained.
Semidetached home – this is a single-family duplex dwelling or structure that shares one common wall with the next home or house.
Now you know and understand the difference. These houses have their advantages or benefits and I will highlight them using the table below.
| Condos | Townhome | Single-detached home | Apartment | Semidetached home |
| Cheaper than single-family homes | More space than a condo suite | Private outdoor living space | Easy maintenance | It has more space than apartments and townhouses |
| Low insurance cost | Low purchasing cost compared to single detached homes | High resale value compared to attached units | Improved safety | Lower purchase price compared to detached homes |
| Availability of amenities e.g. pools | Fewer maintenance needs | Freedom of modifying property at any time | Availability of amenities e.g fitness centers and playgrounds | Savings in maintenance because you can share the maintenance costs with your neighbor |
| Fewer maintenance responsibilities | Privacy and security | No co-ownership problems | 24/7 Surveillance | Reduced heating and cooling costs because of sharing a wall |
Price trends for the last 10 years in Richmond Hill
The price of houses tends to increase in every part of the world so Canada and Richmond Hill to be specific are not an exemption. The average yearly appreciation in entire Canada stands at 6.11%. Currently, the average rental rate in Richmond Hill is also a bit high compared to neighboring cities. It has experienced an appreciation rate of 2.8% for the past 10 years. On the other hand, the average resale cost of all homes has also significantly increased.
The appreciation rate in this case (on resale cost) over the last 10 years stands at 8.8%. This clearly shows that the prices of houses in Richmond Hill have been increasing every year for the last 10 years. Just taking an example of 2020 versus 2019 you will find that the prices increased as follows: detached houses by 16.32%, condo apartments by 1.25%, and townhouses by 16.25%. The table below shows the price trends of detached houses, townhouses, and condos over the last year. All the prices have been increasing except the price of detached two-bedroom houses which has experienced a fall from $1.5m to $1.2m and three-bedroom townhouses which decreased from $794k to $720k. This kind of information speaks volumes about the Real estate prices in Richmond Hill.
| Detached | Townhouse | Condo | ||||
| Now | 1 year ago | Now | 1 year ago | Now | 1 year ago | |
| 2 bedroom | $1.2m | $1.5m | $676k | $589k | ||
| 3 bedroom | $1.7m | $1.4m | $720k | $794k | $785k | $665k |
| 4 bedroom | $2.1m | $1.9m | $1.3m | $1.1m | $1.3m | $740k |
| 5 bedroom | $2.5m | $2.4m | $1.7m | $1.2m | ||
On average, a house in Richmond Hill lasts for only 13 days in the market. This is one thing that you should know because it explains the demand for houses in this city. People are very keen on ensuring that they get good houses as quickly as possible to settle down with their families before the prices of houses go up. From the previous paragraph, you can easily say new construction condos in Richmond Hill are quite affordable compared to other types of houses because their prices increased by a small percentage.
Richmond Hill is considered the 13th fastest growing municipality out of 23 municipalities available in Greater Toronto. It is also the 5th most expensive and 17th fastest-selling in Greater Toronto as well. Being position 17 in terms of speed of selling means that other municipalities are selling houses at a faster rate than Richmond Hill and this, therefore, shows how houses are in demand everywhere. In a nutshell, I can say there are many houses for sale in Richmond Hill, and for you to be able to purchase them, you must set aside a very good amount of money, or else your dream to buy your own house and enjoy life with your family will never come true. The table below shows the average highest selling and lowest selling prices of houses in the city from 2018 to 2022.
| Highest | Lowest | |
| 2018 | $812,243 | $764,475 |
| 2019 | $822,475 | $753,111 |
| 2020 | $928,475 | $831,375 |
| 2021 | $1,181,000 | $1,000,625 |
| 2022 | $1,335,725 | $1,050,625 |
Why invest in preconstruction in Richmond Hill
Investing in pre-construction homes in Richmond Hill is of course not a bad thing. Several reasons might make you want to invest here. The demand for houses in this area is quite high and therefore if you invest in preconstruction you are most likely to make good profits when selling the houses after a while. Another thing is that the appreciation rate of houses in this city is good. You can be sure of minting good money when you want to sell your property just after a few years. Everyone wants to make profits from their investment. Preconstruction condos have proved to be the best for one to invest in. This type of investment attracts a huge appreciation rate over time and therefore it’s something that one can try and be happy in the end.
Buying a pre-construction home will also help you to avoid the problem of bidding wars which are more common in the Greater Toronto area. Bidding wars occur in the sense when a price of a house is listed, other offers are being brought forward which are way above the listed selling price of that particular house. This will of course make it difficult for you to buy a home if you don’t have enough money to compete in the bidding. Buying a pre-construction home will also give you the freedom of making some changes and adjustments according to your taste. You have the freedom of choosing a size or model that best suits you. The number of rooms and where the rooms are situated in the house is a decision for you to make because you are the one going to live there and therefore you should prefer what will make you feel comfortable. If you buy an old or already existing house then you will have to put up with what is available because the house does not come with any modifications whatsoever. Therefore investing in preconstruction homes in Richmond Hill or any other place is something that comes with quite a lot of benefits that you cannot afford to lose. It is simply worth it.
Major preconstruction projects in Richmond Hill
10481 Yonge Street Condos, 10481 Yonge Street, Richmond Hill, ON
| Builder | Nahid Corp |
| Building Type | Townhouse |
| Ownership | Fee Simple |
| Selling Status | Pending |
| Construction Status | Preconstruction |
Description
10481 Yonge Street Condos is a nice townhouse development located along 10481 Yonge Street, Richmond Hill, ON. It is currently in the preconstruction stage. It comprises 45 units. The start and estimated completion dates are not available at the moment.
8905 Bathurst Street Condos, 8905 Bathurst Street, Richmond Hill, ON
| Builder | Tridel |
| Building Type | Condo |
| Ownership | Condominium |
| Selling Status | Pending |
| Construction Status | Preconstruction |
Description
8905 Bathurst Street Condos is a condo development at 8905 Bathurst Street, Richmond Hill. It comprises 20 stories which have a total of 396 units. It is in the preconstruction stage. 535 parking spaces are expected to be available in this new development. With all the parking spaces compared to the units available, this development will surely make it to the top list of condos for sale in Richmond Hill once it is completed.
Camden Crossing, Leslie Street & 19th Avenue, Richmond Hill, ON
| Builder | Treasure Hill Homes |
| Building Type | Townhouse |
| Ownership | Fee Simple |
| Selling Status | Registration |
| Construction Status | Preconstruction |
Description
Camden Crossing is a townhouse development project by Treasure Hill Homes at Leslie Street & 19th Avenue. This project is currently in preconstruction. Impact North Beyond Marketing is the company responsible for marketing this project.
Harris Homes, 229 Harris Avenue, Richmond Hill, ON
| Builder | Zonix Group |
| Building Type | Single Family Home |
| Ownership | Fee Simple |
| Selling Status | Pending |
| Construction Status | Preconstruction |
Description
Harris Homes is a Single Family Home development project located on 229 Harris Avenue. It comprises only 6 units. The estimated completion time for this project is 2024. It is currently in preconstruction. Zonix Group is the developer of this project. This development proposes to stand on an area of over one acre. Construction will begin in 2023 and sales will also start in the same year.
9750 Yonge Street Condos, 9750 Yonge Street, Richmond Hill, ON
| Builder | JD Development Group and Elm Developments |
| Building Type | Condo |
| Ownership | Condominium |
| Selling Status | Pending |
| Construction Status | Preconstruction |
Description
9750 Yonge Street Condos is a new condo development that is among the many preconstruction condos in Richmond Hill. It is situated at 9750 Yonge Street. This development is strategically situated where there is easy access to schools, parks, and recreational facilities. The developers of this project are JD Development Group and Elm Developments.
Arnold & Major Mackenzie, 133 Arnold Crescent, Richmond Hill, ON
| Builder | Arcon Developments |
| Building Type | Townhouse |
| Ownership | Fee Simple |
| Selling Status | Registration |
| Construction Status | Preconstruction |
Description
Arnold & Major Mackenzie is a new townhouse development currently in preconstruction at 133 Arnold Crescent in Richmond Hill. Arcon Developments are responsible for the development of this project. Dates for the start of construction and completion have not been determined yet.
Duncan Hill Homes, 94 Duncan Road, Richmond Hill, ON
| Builder | A1 Development |
| Building Type | Single Family Home |
| Ownership | Fee Simple |
| Selling Status | Registration |
| Construction Status | Preconstruction |
Description
Duncan Hill Homes is a single-family home development by A1 Development. It is currently in preconstruction. It has a total of 29 units. The development is composed of detached and semi-detached homes. Land Services Group is the company in charge of marketing. This development is not far from Langstaff GO station and Hillcrest Mall.
Bayview Creek, 10747 Bayview Avenue, Richmond Hill, ON
| Builder | CIM Developments |
| Building Type | Townhouse |
| Ownership | Fee Simple |
| Selling Status | Registration |
| Construction Status | Preconstruction |
Description
Bayview Creek is a new townhouse development that is currently in preconstruction at 10747 Bayview Avenue in Richmond Hill. It has a total of 226 units. It is situated in a perfect environment surrounded by lush forestation and moving waters.
Emeralds of Maple Grove, 12 Maple Grove Avenue, Richmond Hill, ON
| Builder | Incon Group |
| Building Type | Single Family Home |
| Ownership | Fee Simple |
| Selling Status | Registration |
| Construction Status | Preconstruction |
Description
Emeralds of Maple Grove is a new single-family home development situated at 12 Maple Grove Avenue in Richmond Hill. It is currently in preconstruction and it comprises 18 units. It is a development by Incon Group. It is a classic example of preconstruction detached homes in Richmond Hill and it is located near Wilcox Lake. Residents will be sure of enjoying the beautiful scenery. The company in charge of sales is Ellicott Realty Inc., Brokerage.
Harris Gate, 40 Harris Avenue, Richmond Hill, ON
| Builder | Ballantry Homes and Metropole Development Inc |
| Building Type | Townhouse |
| Ownership | Fee Simple |
| Selling Status | Registration |
| Construction Status | Preconstruction |
Description
Harris Gate is a new townhouse development by Ballantry Homes and Metropole Development Inc. it is currently in preconstruction at 40 Harris Avenue and is expected to be completed in 2023. Construction will start in 2022. It consists of 49 units which are 4 bedrooms each. G. Ryan Design Inc is in charge of marketing while ReMax Hallmark Realty Ltd is in charge of sales.
Lakeview Residences, 13572 Bayview Avenue, Richmond Hill, ON
| Builder | A1 Development |
| Building Type | Condo |
| Ownership | Condominium |
| Selling Status | Pending |
| Construction Status | Preconstruction |
Description
Lakeview Residences is a new condo development at 13572 Bayview Avenue in Richmond Hill. This development is currently in preconstruction. It comprises 103 units in an 8-story building. This site is located near Oak Ridges Moraine.
Twelve Oaks Towns, King Road & Bond Crescent, Richmond Hill, ON
| Builder | Green City Development |
| Building Type | Townhouse |
| Ownership | Fee Simple |
| Selling Status | Registration |
| Construction Status | Preconstruction |
Description
Twelve Oaks Towns is a new townhouse development at King Road & Bond Crescent in Richmond Hill. Green City Development is the developer of this wonderful project. The units are 3 bedrooms each. It is situated in the Richmond Hill neighborhood of Oak Ridges Moraine. It is a very fantastic environment to live in.
Millbrook Park, Elgin Mills Road East & Leslie Street, Richmond Hill, ON
| Builder | North Star Homes |
| Building Type | Townhouse and Single Family Home |
| Ownership | Fee Simple |
| Selling Status | Registration |
| Construction Status | Preconstruction |
Description
Millbrook Park is a new development that includes both townhouses and single-family homes. It is currently in preconstruction at Elgin Mills Road East & Leslie Street in Richmond Hill. The developer of this project is North Star Homes.
Ivylea, 1521 19th Avenue, Richmond Hill, ON
| Builder | Marlin Spring and Greybrook Realty Partners |
| Building Type | Townhouse |
| Ownership | Fee Simple |
| Selling Status | Registration |
| Construction Status | Preconstruction |
Description
Ivylea is another new townhouse development situated at 1521 19th Avenue in Richmond Hill. This development is being worked on by Marlin Spring and Grey book Realty Partners has August 2022 as its estimated completion time. It has 171 units and the number of bedrooms per unit range from 3 to 5 bedrooms. The company responsible for sales is Spectrum Realty Services Inc while marketing is in the hands of 52 Pick-up Inc.
High Point Urban Towns, 60 Arnold Crescent, Richmond Hill, ON
| Builder | Laurier Homes |
| Building Type | Townhouse |
| Ownership | Condominium |
| Selling Status | Registration |
| Construction Status | preconstruction |
Description
High Point Urban Towns is a new townhouse development by Laurier Homes. It is currently in preconstruction at 60 Arnold Crescent in Richmond Hill. It has 88 units and it is scheduled for completion in 2022. It consists of 2 and 3 bedrooms units. Guidelines Advertising and In2ition are the marketing and sales companies respectively.
Prince Parque, 61 Harris Avenue, Richmond Hill, ON
| Builder | Metropole Development Inc |
| Building Type | Townhouse |
| Ownership | Fee Simple |
| Selling Status | Registration |
| Construction Status | Preconstruction |
Description
Situated at 61 Harris Avenue in Richmond Hill, Prince Parque is another new townhouse development that will enable you to enjoy the good feeling of parks, trails, and community centers. Metropole Development Inc is the developer of this fantastic project that you cannot mention preconstruction townhomes in Richmond Hill without mentioning it. It has a total of 44 units. Various sizes are available ranging from 2300 to 2500 square feet. The construction start date and estimated completion are yet to be determined.
19th Avenue, Leslie Street & 19th Avenue, Richmond Hill, ON
| Builder | The Conservatory Group |
| Building Type | Townhouse and Single Family Home |
| Ownership | Fee Simple |
| Selling Status | Registration |
| Construction Status | Preconstruction |
Description
19th Avenue is a new combination of townhouse and single-family home development situated at Leslie Street & 19th Avenue in Richmond Hill. It is currently in preconstruction. It is to be built by The Conservatory Group while Guidelines Advertising handles the marketing part. The start and completion dates are yet to be determined.
Jefferson Townhomes, Beech Avenue & Jefferson Side Road, Richmond Hill, ON
| Builder | CountryWide Homes |
| Building Type | Townhouse |
| Ownership | Fee Simple |
| Selling Status | Registration |
| Construction Status | Preconstruction |
Description
Jefferson Homes is a townhouse development that is currently in preconstruction at Beech Avenue & Jefferson Side Road. The developer or builder of this project is CountryWide Homes. There are currently no specific dates for the start and completion of this development.
The Lawrence Collection by Mackenzie Hall Homes
| Builder | Mackenzie Hall Homes |
| Building Type | Single Family Home |
| Ownership | Fee Simple |
| Selling Status | Selling |
| Construction Status | Complete |
| City | Richmond Hill, ON |
| Street | 241 Lawrence Avenue |
| Units | 3 |
| Completion date | Summer 2021 |
Description
The Lawrence Collection by Mackenzie Hall Homes is a single-family home that was started in April 2020 and completed in summer 2021. It has 3 units of 4 bedrooms each.
Conclusion
By now I think you have seen and understood the importance of living in Richmond Hill. It is a city of its kind and if you have the chance of living there, you should not let that chance slip your fingers. I might encourage you to migrate to this lovely city but at the end of the day, the decision to live and enjoy life there remains with you. Make sure you make the right decision for yourself so that you do not regret it later. You have also seen the benefits that come along with the different types of houses. These benefits do not just apply to houses in Richmond Hill but other places across the globe as well. The benefits you get by living in a detached house in Richmond Hill, Ontario, Canada are still the same benefits that someone living in London, United Kingdom will enjoy. Take your time once again to go through this article and do more research so that you can perfectly understand matters to do with real estate not only in Richmond Hill but also in other cities in Canada and other parts of the world. I finish by saying Richmond Hill is a nice and adventurous place where you can live and do anything you desire to do. You are highly welcome to come and establish yourself in this beautiful city.