If you’ve seen the headlines about buying a home on Toronto Islands, you may already be picturing morning walks by the water and a ferry ride into the city. We understand the appeal. But before you start packing, there’s a different buying process to understand.
The current opportunity is to apply for a place on the Toronto Islands Purchasers’ List, and that does not guarantee a home purchase.
How Does the Purchasers’ List Work?
The list holds up to 500 names. When positions become available, a random draw selects applicants to join the end of the queue. Only people on the list can buy island homes through the Trust.
Applications close on October 30, 2026, at 4 p.m., with a $20 non-refundable application fee. Successful applicants also pay an annual renewal fee, currently $50, to keep their position.
There is no guaranteed purchase date. With very few homes changing hands each year, the wait can be long.
What Would You Actually Own?
Residents own their homes while leasing the publicly owned land beneath them. The Toronto Islands Residential Community Trust manages the sales process and regulates prices.
Homes must be the owners’ primary residences, rather than vacation homes or investment rentals.
Would Island Living Work for Your Family?
The setting may be appealing, but your everyday routine deserves just as much attention. Before pursuing a place on the list, think about:
Your commute and how ferry schedules would fit your workday.
School, childcare and the activities your family relies on.
Getting groceries, managing deliveries and arranging home repairs.
Whether a long and uncertain purchase timeline fits your plans.
For a family that needs more space soon, this opportunity may sit alongside a separate, more immediate home search. Ask the Trust about its current process, costs and lease conditions before applying.
At Unna Real Estate Group, we believe the right move starts with understanding how a home would work for you. Whether you’re curious about island living or planning your next move in Toronto and the GTA, feel free to reach out and talk through your options.
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