Leah Zlatkin featured in CMP Magazine: ‘Toronto condo buyers find new leverage in shifting market’

“Even with a 15% down payment on a condo and 20% on a detached home, the affordability gap in Toronto remains significant,” said Leah Zlatkin, licensed mortgage broker.

“At today’s average prices, a condo costs about $655,000 compared to roughly $1.35 million for a detached house. A buyer with a five-year fixed rate mortgage would pay approximately 3.89% on an insured condo loan and 3.94% on an uninsured detached mortgage. That works out to an estimated monthly payment of about $2,976.59 for the condo versus $5,645.94 for the detached home. This difference shows why condos are a more attainable option for those looking to enter the market and stay within their budget,” Zlatkin said.

For buyers not planning major life changes, such as expanding their family or relocating, Zlatkin said the math makes a compelling case for condos.

“They allow buyers to stay in the city, build equity, and manage costs responsibly while maintaining financial flexibility,” she said.