Housing on a Budget

Posted on December 01, 2017

When it comes to finding a good place to live in, many people encounter a lot of obstacles.

Prices being a major one. CBC Canada reports, that according to the CMHC, as of Oct. 2016, the average monthly rent of a:

Bachelor apartment in Toronto is $957;
One-bedroom apartment is $1,132;
Two-bedroom apartment is $1,326.

But if you are seeking,  a more modern condo apartment, you might be looking at the following prices:
$1,428 for a bachelor condo apartment in Toronto;
$1,653 for a one-bedroom condo apartment;
$2,029 for a two-bedroom condo apartment.

If you want to find more affordable options, you might want to:


Check out older buildings
Condo listings are a dime a dozen in Toronto. But those glass towers are often built after 1991, which means theyre not subject to rent control like older buildings — which could lead to higher initial rent, or a nasty surprise increase later.
An added bonus? Older homes and apartment buildings are often owned by career landlords who are actively involved in maintaining the building.

Or try almost-finished ones
On the flip side, renting a unit from a brand new building thats not even finished yet could also lead to a deal.

Use a real estate agent
You dont have to pay a penny for the service — the fees are actually paid by whoever is trying to rent out their unit.

Cast a wide net
Theres a wide selection of websites, blogs, and Facebook groups available for Toronto renters, so it makes sense to check out as many as possible when youre looking for an apartment.
A few of the big ones include:

AirBnb

You can also set up a personal Google Alert for any new listings featuring key words (like 1-bedroom, Danforth for instance.)


Good luck!

Always on your side!
www.woori.ca







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