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Discussion in 'Housing' started by kaustubhsaha, Aug 9, 2018.
These people need somewhere to live. They don't have 4 years to wait for condo construction.
Not necessary. Some live in the basement of their parents or have second homes while the 4 years wait for condo construction.
Have you read the OP?
Did you? I have and he replied / quoted my post.
If you have not done so already, you should review the whole thread. Besides, I don't think OP is one those people who bought properties in the past 5 years as said by you at the end of the previous page.
Guys, Any success stories on getting a 1 Bed / 2 Bed accommodations in Toronto on PR? Please do share - Am reading all the comments on the forum and it looks like it ain't easy! Am landing on 10 Sep and have an Airbnb for short term but longer term rentals look like a challenge without a job and am a freelancer.
Having said, why buying is not an option? At least there is no empty home tax in Toronto (unlike most of BC) in case it becomes your second home.
Hmm...good question. I doubt without a job you would get a loan either. I can make a down payment of 10-20% or perhaps more but not sure if you could get a $300-400k without a job. If you have a different view, please do post
But people with loads of money can buy without loan or job. Also people who work outside Canada might be able to get a loan.
All depends where you are looking. I think the previous couple were looking at newer condos and I'm surprised they didn't find something after applying for as many condos as they did since they both have jobs. May to September is a very common time to move especially for younger people so there will be a lot of demand for 1 and 2 bedrooms at a fair rental rate. There are likely higher priced properties available. You may not want to limit your search to just condos (include apartments) and widen your search area. The rental market is tight so many struggle to find a rental and must apply right away if interested. Best of luck.
Do you guys know if showing the bank statement with sufficient funds along with the payment of first and last month will be enough for a newcomer to rent? Would you recommend any property management companies? Thanks.
Even if all of the above is true and even if making a full down payment was an option, am not going to buy an apartment/house on Day 1 of my landing...will need atleast 6 months to an year before I make up my mind on where to live based on where I/my spouse works. As a neutral, I would put it out there that PRs would take atleast an year to buy and would be on rent prior to that.
My brother lives in Sydney, Australia and he shared a situation where apartments/houses on sale don't last even for a week such is the demand by Chinese/Asian immigrants. Looks like it's the same in Canada as well - I heard some of these stories about Vancouver but wasn't aware that it has trickled down to Toronto's rental market as well. Have taken Airbnb for the first week and let's see how it goes from there.
Saha, when we came to Toronto in August wanting a rental in September, we had to face similar issue. September is when the school reopens and hence most Condos will be taken by prospective renters to help them plan with respect to school, job, transit etc. Downtown Core is difficult to find a suitable yet affordable rental unit but not impossible. Have you considered outside of downtown code with good transit (along the subway lines or GO).
Some landlords will be happy to rent you the place if you have a good work experience and have a job already in Canada. All they want to ensure is you are able to pay the rent on time and do not default.
Along with Condos do try Apartments. A realtor would not be able to help you much with an apartment as they do not get MLS listed. But you should be able to find them by doing a google search. Wishing you the very best.
Finally after trying for 2 months was able to get a newly completed condo in downtown for rent. Thanks everyone for your help and guidance
Not always immigrants. Out of province and international students or foreign workers are also possible.
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