It doesn’t matter if you are searching for your very first Hamilton condo or you’ve been around the block a few times, one thing is for certain: there are condo rental tips that everyone should put into practice regardless of their expertise. Finding the perfect condo for you (and your roommates if applicable) doesn’t just happen overnight: it takes planning, forethought, and a desire to find the best condo for you – not just the one at the right price. Below are a few of the many condo rental tips that every Torontonian should keep in mind as they search for their next home – follow them, and you will find the perfect sooner, not later.
Know thy budget
Before you even think about moving to that new Hamilton condo you’ve got your eye on, be sure to know if you can even afford to rent the property to begin with. A condo may seem perfect, but if you’re barely squeaking by to pay the rent you’re at risk of failing to pay your utilities and other expenses (such as food) this won’t be sustainable for very long. Thus, keep your budget in mind before you even think about looking for a condo to rent. If you will have roommates, have a rough estimation as to how much each roommate earns monthly and use that as a compass to find the perfect condo for you. If you have lived on your own before, you already have an idea what your budget will be anyway, so use your past experience to create a budget.
Tally up your monthly expenses
Once you know which Hamilton condos you can afford, you have to know exactly what your monthly expenses will be. Calculate every expense you will have monthly, right down to the streaming services and cost of a cup of coffee on your daily commute. The more in-depth you can go when calculating your monthly expenses, the easier it will be to not only expect what your expenses will be month-to-month, but you can also figure out where you can cut costs to save money. For example, do you really need that daily coffee; how much will you save if you brew at home? It’s little things like these that can have a huge impact on your monthly expenses.
Don’t forget moving expenses
Keep in mind that moving actually costs money. While it’s easy to place your focus on your monthly expenses, you’re going to need to pay for one-time expenses such as a moving truck, packing supplies, security deposits (typically the Hamilton condo’s first/last month’s rent). Don’t forget the cost of admission of actually furnishing the place: utensils, furniture, etc.
Choose a neighbourhood wisely
An awesome Hamilton condo at the right price isn’t the endgame of finding the perfect condo to rent – far from it. It’s important to choose a neighbourhood that’s right for you, and although the neighbourhood isn’t high on most people’s radar it’s vital. Every neighbourhood offers something unique: some neighbourhoods are quieter with less amenities while others embrace the frenzy of the hustle-and-bustle and have more amenities per square block than you know what to do with; some are for nature lovers, others are for retirees – you get the picture.
Are amenities important?
If conveniently-located supermarkets or restaurants a minute’s walk away from your condo is important, don’t spare any expense: choose a Hamilton condo with plenty of convenient amenities in the neighbourhood. Amenities mean different things to different people, so know what you want: is quick access to public transportation important or do you prefer living near a park? Know the amenities you want, and choose a Hamilton condo accordingly.
Never settle
There’s no worse feeling than getting stuck with a lease at a place you hate. Don’t have renter’s regret: ensure you choose the Hamilton condo that’s right for you. Know exactly what you want in a condo, and if applicable speak with your roommates and come to a consensus on the type of neighbourhood and condo you want to live in. When you live in a condo that’s perfect for you, it truly feels like home.
Ready to find the perfect rental for you? Reach out to LJM Developments – we have the perfect condo just for you!
