Rental Freedom
No matter what your status is, chances are you have, are or will be enjoying a rental property at some point in your life. There are numerous factors to consider when embarking down the road of searching for a rental property, and your lifestyle sits mighty high on that list.
You could be a student heading out to university in an unfamiliar town, or maybe a young couple looking to take the next step in your relationship. Perhaps you are your family have recently immigrated to Canada and are looking to start your new life in a comfortable home? No matter what group you fall into, there is a lonely rental property patiently waiting for you to pick up the phone and dial.
Let's say you are a student. You've recently graduated from high school and have been accepted into a fine university abroad. Not only are you transcending into the exciting world of post-secondary education, but you are taking the first step into adulthood by leaving the safety net your parents have kept you in all these years.
Although it sounds exciting, there is some careful planning at hand. You are on a tight budget, but living in residence just doesn't hold the same appeal as your own rental property. If money is an issue, your best bet is to find a reliable roommate. Flip through the campus newspaper or take a look at some bulletin board postings. You should have no problems finding students in situations similar to your own. Together, take a look at some apartments in close proximity to your campus rather than the local entertainment district - you'll be spending a lot more time in the library than you may think. Another thing to consider is the tolerance of your neighbours. Not everyone likes to live next to two students, so attempt to interact with your potential neighbours to find out if they are the type that calls the police when the music gets too loud. University is not all about studying, so you don't want any legal trouble when trying to have fun! Finally, spend a little extra money and find a rental unit with at least one separate bedroom to avoid any embarrassing moments that may damage your reputation on campus!
In the case of the young couple, you are faced with slightly different tasks. Roommates are most likely out of the question, but with a combined income, you shouldn't have too many problems getting a medium-sized one-bedroom rental property. Just make sure that transit is nearby so that you can both get to work quickly. If you plan to travel by means of a car, make sure to ask your landlord if parking is included in the rental fee. While we are talking about fees, check if all maintenance fees are included. Environmental damage aside, you don't want to be stuck with an inflated hot water bill because your better half likes to take an hour to shower! The more difficult of tasks is finding a rental property for you and your large family. Many new Canadians are faced with this obstacle. If moving to a new country isn't stressful enough, finding a home to accommodate your loved ones will test your nervous system on a new level of tolerance. The trick is to be patient. Most immigrants come to this country hoping to move into one of those beautiful bungalows that they see on North American television. Chances are, you will have to wait a few years before you can afford a down payment and a mortgage. In the meantime, why not settle for a spacious two- or three-bedroom apartment easily accessible by public transit? Foregoing the purchase of a car will free up some extra money and help you save for a home of your own.
Make sure to find a home close to a school or daycare. That will save you time when dropping off your kids in the morning. Their teacher will be a lot more accepting of their tardiness than your employer of yours. Speaking of area amenities, explore the area for the nearest grocery store. If you don't plan to drive, you will need to be prepared to carry a large amount of shopping bags on a regular basis. Weather conditions do not always coincide with your appetite, so try finding a home in close proximity to your favourite grocer. Depending on the work schedules of you and your spouse, having one that's open 24 hours per day can be very rewarding. This is particularly true for when your teenager comes home at midnight and eats next morning's breakfast.
If you choose to rent out, then make sure that you give out the rent receipts. Your tenants will need these for tax purposes. There are free web sites out there to automatically generate them for you, so you can save a bit of time.
No matter which category you fall into, there is a home for every lifestyle. Taking the time to explore your options will save you time in the future, so happy hunting!