PROBLEM for Toronto “would be” Buyers/Renters:
To find in the city of Toronto an affordable apartment to rent, or an affordable house to purchase that doesn’t involve a 3 hour daily commute, sharing your space with a gaggle of others in the same sorry spot! Last resort? move back in with Mum and Dad…yikes!
Currently, vacancy rates in Toronto sit at 1.8% putting upward pressure on prices. Fully one third of Torontonians rent and with so many millennials not being able to find affordable housing, the decision to rent instead of home ownership puts additional pressure on the rental housing supply/demand dilemma.
1. Take the time to find compatible, honest room mates with whom you could share the overhead.
2. Search for rentals further out of the city, but with great access to public transport.
3. Move back with family, but draft an agreement that both you and family could live with that deals with contribution to household utilities etc, agree to pay off debt and/or accumulate savings as a direct result of being able to live rent/mortgage free.
4. CONTACT a skilled and informed Realtor who has access to rentals/home listings BEFORE they hit MLS, Realtor.ca etc…(we call them pocket listings) and we reserve them for our clients who are always prioritized.
SO HOW CAN I HELP YOU TODAY?! I look forward to being of service to you!
Click here to read a very informative article and once you’re up to speed, your Toronto House Whisperer is ready to help!!