Ontario One Fare Program will change Toronto’s ever-expanding landscape and booming real estate market. This innovative plan could revolutionize how buyers, sellers, and commuters view the city’s housing market.
One Fare Program – What is it?
Starting February 26th, 2024, Ontario’s One Fare Program allows seamless transfers between the TTC, GO Transit, Brampton Transit, Durham Region Transit, MiWay, and York Region Transit. This means you only pay a single fare, even when switching systems!
How Does the One Fare Program Work?
The beauty of the One Fare Program is its simplicity! Here’s the breakdown:
- Pay Once, Roam Free: You pay your initial fare to the transit system you start your journey on (like the TTC or GO Transit). After that, your transfers are free within a generous time limit. This means no more double fares, even when moving between the city and the surrounding areas.
- The Magic of PRESTO (+ Debit/Credit): To fully benefit from the program, you’ll need to use a PRESTO card, PRESTO in Google Wallet, or a debit/credit card with contactless payment. Simply tap as you usually would when entering the station or boarding a bus. The system will automatically calculate the discounted fare.
- Time is On Your Side: Transfer windows are generous! You get two hours for local systems (TTC, Brampton Transit, Durham Region Transit, MiWay, and York Region Transit) and three hours when GO Transit is involved, giving you ample time to reach your destination.
Important Note: The One Fare Program doesn’t currently apply to cash fares, TTC tickets, or PRESTO tickets.
Understanding the Costs associated with the One Fare Program
TTC Fare Details
It’s important to note the specifics of how the One Fare Program interacts with TTC fares:
- PRESTO is Key: To benefit from free transfers on the TTC, you must use a PRESTO card, PRESTO in Google Wallet, or a debit/credit card with contactless payment capabilities.
- Adult Fare: The standard adult fare for the TTC is currently $3.30. With the One Fare Program, if this is your initial paid fare (and you transfer within the time limit), your transfers across connected transit systems become free.
- Other Fare Categories: The TTC offers reduced fares for seniors, post-secondary students, and youth. You can find specifics on the TTC website.
The One Fare Program is designed to save you money while simplifying the fare system. Here’s how the charges work:
- Local Transit Systems: If you are traveling only between the TTC, Brampton Transit, Durham Region Transit, MiWay, and York Region Transit, your transfers within the two-hour time window are entirely free!
- Involving GO Transit: When GO Transit is part of your trip, things change slightly. Your GO Transit fare remains the same, but the second leg of your trip on a local transit system becomes free (within a three-hour window).
Example: If you take GO Transit from Oakville into Toronto and then transfer to the TTC, you pay your GO fare as normal. Your TTC trip then becomes free! This means significant savings, particularly for regular commuters.
The Real Estate Impact
- Expanding Your Search Radius: The One Fare Program opens up a whole new world of housing options. Suddenly, those charming communities outside the core with more space and less competition become viable choices. Imagine the possibilities of finding your dream home in areas previously considered too far because of double transit fares.
- Commuting Costs Cut in Half: For those who work or study downtown, the savings on commuting can be huge. Eliminating extra fares means those living further out can redirect that money into their mortgage payments or enjoy a significant boost in their disposable income.
- Increased Value Outside the Core: Towns and suburbs along major GO lines or connected transit systems will see increased desirability. Investors and sellers may see higher demand and appreciation, as the perceived “distance” from the city center becomes less of a barrier.
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Real-World Benefits
Let’s imagine a couple looking for their first home. With the One Fare Program, they can afford to look in areas like Ajax or Pickering instead of being limited to smaller condos in the city. Or take a university student who can now afford to live at home in Mississauga and commute to their Toronto campus for a fraction of the previous cost.
Ontario’s One Fare Program isn’t just about transit; it’s about transforming the possibilities of homeownership. Whether you’re buying, selling, or investing, it’s time to rethink the Toronto real estate map!
Click here to learn more about about Ontario’s One Fare Program
