There are plenty of reasons that living in Toronto is ideal for many people. It’s one of the biggest metropolises in the country, offering many opportunities for different lifestyles, career advancements, and unique experiences. With the Canadian housing market skyrocketing over the past few years, renting has become an attractive option. Let’s explore some advantages of renting in Toronto and some of the convenient amenities you can look forward to.
Advantages of Renting an Apartment in Toronto
If you’re living in or thinking about moving to Toronto, chances are you’ve asked the question: “Should I rent or buy?” There are various advantages to renting in the city, including the following:
- When you compare monthly expenses, renting is the cheaper option. You won’t need to worry about maintenance and surprise repair costs or the payments associated with owning a home, like property taxes, utilities, and home insurance.
- Moving is also cheaper. Once your lease is up, the only up-front cost to worry about is your damage deposit and any additional furniture for your new space. When you move as a homeowner, you must consider all closing costs like down payments, home inspectors, appraisal and lawyer fees, and land transfer tax. In Toronto, you must pay the municipal land transfer tax on top of the provincial one.
- Renting can save time and energy. If an appliance stops working or a pipe bursts, all you have to do is call your landlord!
- You won’t be locked in long-term. Once your lease expires, you can move wherever you want, whether you’re seeking affordability, a better location, or something a little more luxurious.
Generally, renting an apartment in Toronto is a good option if you don’t have enough for a down payment, aren’t ready to settle down, or want your living arrangement to come with lower risks.
Convenient Amenities of the City
Cheaper monthly expenses as a renter mean more money for enjoying the city around you. Toronto boasts many convenient amenities and attractions. There’s a booming culinary scene that can take your taste palate on a journey around the world. You can explore different parks and recreation facilities, from off-leash areas and walking trails to swimming pools, gyms, and fitness centres. The city is also conveniently located beside Lake Ontario, where you can take a stroll on the harbourfront or hop on the ferry to Toronto Island Park to take a break from the hustle and bustle.
Reliable Transit Network
The Toronto Transit Commission (TTC) has the third-largest system in North America. It uses buses, subways, and streetcars for convenient access around the city. Transit maps are simple to follow, and many stops are easily accessible via the PATH, an underground pedestrian walkway downtown. The TTC also provides links to GO Transit, the inter-regional bus and train system servicing the GTA.
Apartments for Rent in Convenient Toronto Locations
The advantages of renting and convenient amenities in Toronto make the city a great place to call home. Check out our apartment listings at CLV Group and InterRent REIT. We have options to fit everyone’s budget and lifestyle!