Once you start receiving promotions and pay raises on your way up the corporate ladder, you'll find that you're able to move up the property ladder as well, putting your smaller home on the Vaughan real estate listings and searching for something larger that better befits your new station in life. Around this time you'll notice your real estate agent start to mention 'executive homes' more and more often. What exactly is an executive home, and why would you want one? We'll try to answer your questions about executive homes in this article.

An executive home, or 'senior executive' style house is defined by the Royal LePage Real Estate company as "a two-storey, four- or five-bedroom home with three bathrooms, main floor family room plus atrium or library." By their definition, executive homes also generally have two or more fireplaces, attached two car garages, and full unfinished basements. As if that didn't disqualify a sizeable number of London, Ontario homes from executive status, the houses also have to have at least 3,000 square feet of living space and be situated on a 6,750 square foot lot.

Executive homes have a lot in common with mansions in terms of space, but mansion is more of a historical term that denotes homes with more character or uniqueness than the average executive home. This is because executive homes are generally built en-masse by development companies to be marketed as real estate in Toronto for busy professionals. Some people dislike the ubiquity of the home designs and have labeled them 'cookie cutter.' A common nickname for this type of home is 'McMansion.' Executive homes also differ from mansions in lot size in a lot of cases, as newer homes are built on increasingly small lots so developers can pack more in.

As you might expect, executive homes are generally only found in certain types of neighborhoods. Specifically, in planned subdivisions. You won't find many executive houses among the Toronto Beaches homes for sale. Instead, you would have to look outward to the GTA suburbs, like Burlington or Mississauga, to find an executive home. Further in toward the city home of this size are prohibitively expensive to build, so the only large homes tend to be historic and/or worth millions of dollars.

Executive homes are known as executive homes because of the people who usually buy them. This type of home is popular among the higher ranks of the business and financial sectors (who are generally known as executives) as well as among high paid professionals like doctors and lawyers. If you want to buy an executive home, you need a sizeable income. homes in Markham of this style go for an average of $650,000. The cheapest place in the GTA to buy executive homes is Woodbridge ($470,000) and the most expensive is Moore Park ($2,600,000).