Post by Admin on Feb 24, 2016 12:22:38 GMT
Should I rent this downtown Toronto condo?
Hi everyone. I am 21 going on 22 and currently live in the GTA suburbs with my parents for free. I work online and earn an above-median USD salary. It is a great situation, but I am really set on experiencing downtown Toronto lifestyle and have been looking at condos to rent since September.
I have finally come across a unit that I really like on Wellington St. at Blue Jays Way. It is a 566 sq. ft. 1 bedroom unit for $2,070 per month on a 1-year lease that is move in ready (fully furnished + kitchenware + small things like table mats) and includes an underground parking spot, utilities, internet, and cable.
I really like the location and the unit itself is freshly renovated and very nice. I am wondering if anyone has any opinions about this overall situation described and anything I should know before signing any paperwork. Is Wellington St. W and Blue Jays Way as good of a spot as I think it is? Any rookie mistakes to avoid?
I do know that this money could be put towards a mortgage, but job security, the USD to CAD exchange rate, special assessments, rising maintenance fees, property taxes, the seemingly-always-looming risk of a market correction, and other factors are risks that I do not want to take at this age.
I will still be able to save enough money, on top of my current savings, for a healthy down payment on a traditional house in the suburbs when I am in my late 20s or so, and the combined income of a significant other would help further -- depending where life takes me.
Thanks in advance!
Hi everyone. I am 21 going on 22 and currently live in the GTA suburbs with my parents for free. I work online and earn an above-median USD salary. It is a great situation, but I am really set on experiencing downtown Toronto lifestyle and have been looking at condos to rent since September.
I have finally come across a unit that I really like on Wellington St. at Blue Jays Way. It is a 566 sq. ft. 1 bedroom unit for $2,070 per month on a 1-year lease that is move in ready (fully furnished + kitchenware + small things like table mats) and includes an underground parking spot, utilities, internet, and cable.
I really like the location and the unit itself is freshly renovated and very nice. I am wondering if anyone has any opinions about this overall situation described and anything I should know before signing any paperwork. Is Wellington St. W and Blue Jays Way as good of a spot as I think it is? Any rookie mistakes to avoid?
I do know that this money could be put towards a mortgage, but job security, the USD to CAD exchange rate, special assessments, rising maintenance fees, property taxes, the seemingly-always-looming risk of a market correction, and other factors are risks that I do not want to take at this age.
I will still be able to save enough money, on top of my current savings, for a healthy down payment on a traditional house in the suburbs when I am in my late 20s or so, and the combined income of a significant other would help further -- depending where life takes me.
Thanks in advance!