Housing Dilemma: To Rent or To Buy?

When you are on a budget, especially in the big city as Toronto, you would like to save as much as possible to decrease your monthly expenditure. The most important thing to do when moving to a new place especially in an urban center like Toronto, is to find a place to live. In the city of Toronto, the options are endless for real estate. But the million dollar question is whether to buy a home or rent one out? The following may help to clear your mind on this:

Your money should be invested in a secure speculation instead of going away to your landlord

A handsome share of your pay slip goes away towards your rent which could go on to become a mortgage payment to your very own home. I do not want to sound pessimist, but all this money goes in vain. On the other hand, if this amount is invested in your own property, by the passage of time and in this market, it would yield you fruitful profit in the future.

The unexpected rise in the rent

Your rent could be raised after the lease is renewed as your landlord reserves the right to do so as per the Tenancy Laws. But au contraire, a monthly mortgage payment is fixed till you pay off the whole loan. So, having your own house brings you peace of mind along with financial security.

Maturity of the market value of your home

Your market value increases with the passage of time. Since the economy and the real estate market in Toronto are stable, it will continue to rise in the near future. This could do wonders for your investment and assure a bright future for you and your family. However, in case of being a tenant, it is just not possible.

Integrating with the local community

When you are for the long run, you become a part of your community. This strengthens your relations with the neighbors, bonds new friendships and playing your part in your locality. Having your own home always provides a healthy environment for children to grow-up, as they don’t have to move from one place to another very often.

The advantages of having to own a home surpasses the disadvantages by a very large margin. So, make the right the choice!

Which is the Best Type of Home for You in Toronto?

After a long day of work and going through the rush hour traffic to and fro, every person would like to retire to a place where one can have a peace of mind and relax with the family. Yeah, we are talking about “Home”. Everyone needs a place to call one but due to some financial setbacks, some of us are struggling to have one. This is one of the main reasons that people are tending to move to big cities like say, Toronto in search of a better standard of living and to have better employment opportunities. Now, the question arises, where to find one in the city of Toronto and which type of housing is more suitable for me?

Well, you have real estate multiple options in Toronto. The housing market of Toronto is as diversified as the demographics of the city. On the frugal note, the best choice would be off to buy a condo as does the most of the population of the city. A condo is convenient in the sense, that it is ideally located in the heart of the city and is close to major city’s facilities and activities. Also, since most of the Torontonians have jobs in the Downtown, having a condo means easy commute to the work. On the investment point of view, condos in Toronto can have some lucrative outcomes for you in the long run as the demand of having a property in Toronto is on the rise.

To locate the best condo in the heart of Toronto’s skyline, one would require the services of a functional real estate agent, probably with a good track record in the condo market of Toronto. He or she will be able to get the best possible condo for you, catering for all your housing demands and your pocket as well. To track down a good agent, you will need to ask around among your family and friends who had a recent experience with same scenario as yours. Another way to go is do some prior research online. Hope, this will be helpful to you in your search to land a condo in Toronto.

Selecting a Condo in Toronto: An step by step Approach

Toronto is one of the best cities for starting a new life. According to various surveys it has been derived that the quality of living and provision of basic facilities is excellent in Toronto. There are several families and individuals who prefer studying and working in Toronto. Toronto is divided in different areas and each area is different from the other area.

Those people, who want to shift to Toronto, must have ample knowledge about the city, its attractions and the possibilities. Those who are willing to settle down need to work out the best place for living that is close to their working or studying area. Most of the people choose condos over houses for accommodation. The main reason is that they are economical offer social interaction opportunities and are quite safe. Condominiums are being constructed widely in different parts of Toronto to provide the best accommodation to the interested families and individuals.

Condos in downtown are offer a breathtaking view of the city and its famous attractions. They also have the basic facilities such as gardening, parking, landscaping, security and maintenance. More and more people are exploring the option of starting a new life by choosing a condo in the downtown are of Toronto. Condos for sale downtown area are little bit expensive than the other condos. The main reason is the prime location and the facilities available in that area.

Now, we are going to discuss the important steps that you need to look for while selecting a condo.

• First of all, search over the internet and look for the various condos that are available and then short list the condos that meet your requirements. There are hundreds of different options to choose from. Do not get confused.

• To avoid confusion you need to make a list of your very own specifications and requirements. This will help in finding the best condo. If you are willing to work or study in Toronto then you need to check the distance of that area from your residence. It will help in saving time and the transportation charges also.

• Most of the condos are furnished but you need to explore all of the facilities that are available over there. See the condo in the pictures or just contact the managers right away and ask them about the provisions. Most condos are spacious and offer breathtaking views but if you have any recommendation then you need to discuss them with your agent.

• Before you choose the condo look after the facilities and buildings near to that place. It is certainly a long term investment that needs to be evaluated and looked after very carefully.  Apartments in downtown Toronto have also become a favorite option of many new settlers.