Rental Apartments

  • Apartments that are usually in a single housing unit or in a building.
  • Apartments in Canada can accommodate a family of 3 to 4 (depending on the size of the apartment for rent).
  • It has one to three bedrooms on average
  • If you rent a ‘bachelor unit,’ it only has a single bedroom and can accommodate 1 to 2 persons; comes with living rooms, small dining/kitchen area, terrace/balcony (depends if you’re on a building or if the housing unit has one)
  • Typically cheaper than renting in condominiums located in high – rise buildings
  • Has more privacy compared to rental rooms.

Rental Rooms

  • Sometimes owners of large houses divide their homes into many private bedrooms and rent it out
  • The main downside perhaps is that usually people share a kitchen or even a bathroom.
  • Lacks in privacy compared if you rent your own apartment
  • Not ideal for immigrants with families
  • Much cheaper compared when renting apartments or condos since you’ll pretty much be paying for a bedroom/s only, and the cost is split among the other renters.

Condominiums

  • Condos are located in building divided into many units
  • Quite pricey compared to renting out apartments or rooms especially if the building is newly built
  • Renters will not just pay for the monthly fees of the unit but also to the owner of the condominium itself because the building needs to be well – maintained and repaired.
  • A fairly good choice for temporary/permanent residents or travellers who needs to stay for a longer period in Canada. This is also ideal for solo expats and even those with families or first – time homebuyers because it’s still quite cheaper compared to buying a house and lot.
  • Provides 24/7 security, usually comes with furniture, and also has added amenities like pools, gym, rooftop areas, lounge areas, parking spaces etc.

House and Lot

  • Houses in Canada are usually single – detached house with relatively bigger lots. There are also semi – detached types, and townhouses (house that shares walls).
  • You can also have the option of just buying a lot and build your own style but of course this is way more expensive in terms of building costs and labor.
  • Purchasing a house is ideal for anyone who wanted to become a permanent resident in Canada as you can hold it for the long term, pass it down to your chosen heir/s, and even sell it as an investment.
  • Real estate taxes, purchasing price, other annual fees, and mortgages will certainly vary depending on the province or city you chose. The top places where housing is very expensive includes Toronto, Ontario, and Vancouver.