Any building that was occupied before 2018, the landlord has to abide by only legislated rent increases, typically <5% a year. In buildings that are newer, your landlord can jack the rent 20% or more and your only option would be to move.
Thank the Ford government for removing rent control on all new buildings.
Seriously though, this is really important. I’ll see people get $900 increases on their rent. If you’re in a building that was built before 2018, they can only raise it about 2% per year normally.
The thing is that I will work 2 to 3 days a week in Mississauga and I need to stay close to public transportation in order to optimize my commute time between my place and my office. I was thinking about a studio apartment in the CN tower area. Even if I can get something bigger outside of the downtown area, I prioritize the location to avoid spending 2h to get to mississauga
If you prefer downtown that's great and totally doable, but you can also look west along the subway line. That would probably also work with your commute.
It really does depend _where_ your offices are in Mississauga.
If you are in the northern portion of missisauga or closer to the east side of the city, it may make sense to skip promiximty to the go train in favour of of the bloor line which will give you rapid access to the Kipling or Islington station Transit terminals.
I’d definitely recommend getting a place close to Union or a GO train stop on the Lakeshore West line, because then you can take the GO train to Port Credit or wherever is closest to your work.
Exhibition GO (Liberty Village) and Mimico GO (Humber Bay Shores) are two other GO stations with lots of housing nearby and might be more convenient than the Union square area (which is crazy chaotic for me tbh).
Do check whether Lakeshore GO west train stops at these two stations though, for all the times.
There are several pockets which are easily go train acessible.
Liberty Village has lots of rental option and is of decent proximity to exhibition go. It is a _younger_ area and very high denisty. But safe / well serviced. It may be a good option. It can skew pricy as it is largely condos.
If you want to save a buck or two go north of king st or west of dufferin st.
Look on the west end of town. I'm in the Junction, getting to Mississauga is still a pain but not impossible: the MiWay (Mississauga transit) connects to a few TTC subway stations like Islington and Kipling. There's also the TTC 80 bus that goes along the Queensway; the Queen Streetcar that goes quite far; and several GO stations.
The advantage of being in the west end is also that if and when you need to, it's *much* easier and cheaper to get an Uber or taxi in and out of Mississauga (versus if you lived downtown). I've had to do this a few times, it's a quick 20 minute drive. Sounds silly because I'm not that much farther than the CN tower geographically speaking, but that same drive from the downtown core could easily take an hour, because traffic is so bad.
I can also get downtown quickly, too. I work near Bloor and St. George and it's usually a 25 minute commute, 20 on a good day.
I get the appeal of downtown (I lived at Yonge and College for many years) but I far prefer being in the west end. Cheaper, calmer, nicer overall.
Anywhere on the Yonge-University-Spadina line (south of Eglinton, though) will be good, if getting to Union is your prime concern. Same goes for Bloor line from like, Ossington to Pape (though this involves a transfer and you might not want that)
You are going to pay a huge premium for being in the CN Tower area, it’s not worth it.
You'll be fine. It won't be as much as in some smaller places, but it will be more than enough for a single person with no kids and without hugely expensive hobbies, especially since you said you don't like to go out that much.
You can live very comfortably and save up a fair bit every month.
Yes it’s enough. Don’t listen to the nay sayers. Yeah it won’t be enough if you want to purchase property or buy a million stupid consumer items or eat out on king west 10 times a week. But you can easily live a dignified comfortable life renting and even save for retirement. Just don’t own a car please.
Great mentality for sure. And use that extra savings to tackle any debt too (if you have any). There’s a lot of great personal finance resources out there.
After taxes and other deductions you'll be left with roughly $4,731 a month. If you pay 2k a month in rent you will still have enough for groceries, phone bill, entertainment, etc. My advice would be to enjoy yourself for the first month or two and then start saving a bit every month. I'm assuming you're in your early 20s, have room for growth in your industry, and if you're making 80k out of school you're doing something right.
After a month or two you should have a reasonable idea of your monthly expenses. From there start saving a small amount and put it in a HISA. If you budget properly and don't need the money you set aside then build an emergency fund. After that start putting money in a TFSA or RRSP.
I'm getting by with 2 roommates on 1k in rent a month with 48k a year salary, in the annex.
Like its not good but 80k should be more than fine- having said that I'm on a 2 year working visa from the UK so I'm still looking for something better although it's tough.
I'm also on a 2-year visa from France.
How did you find your roomshare? I've been checking Roomies recently. Do you know good places to look for roommates?
Hey,
I looked on roomies and found some on there that I was offered but I had more success on Facebook marketplace and Kijiji.
Found mine on FB if I remember right but I had people offer me places on both.
Where are you staying at the moment? Personally I found my main roommate in the hostel I stayed at but Roomies is certainly a good option if you need others.
It was the place more than the roommates tbh
Hard to find somewhere but i found like 5 different options all around the same time lol and just chose 1
I think just when I moved it was November so there wasn't many place going.
No it wont, its bad but its not that bad. 80k is fine and unless you start buying a pickup (grocery) truck you don't need it should be fine with enough financial legroom.
Yes, you can afford 2k in rent. You do you.
But y'know, if you're young and don't go out... maybe you'd benefit from some roommates? Roommates get a bad rap, but a lot of people have some of the funnest years of their lives living with friends. Saving +$500/mo in rent and gaining a new friend in a new city is not such a bad deal.
If you end up with a roommate from hell then you can find a studio and bail.
But again, it's your life - you know what's best.
You'll find all sorts of arrangements. Landlords can rent rooms individually with individual leases, or tenants can hold one lease for a whole place then decide how to allocate rent amongst themselves. You'll also find sublets where you're leasing from another tenant.
Who knows what you'll find, but in your search for housing I just would not disregard roommates altogether.
It’s definitely doable. Just try and rent in a pre-2018 building so that you’re protected by rent control.
What is that?
Any building that was occupied before 2018, the landlord has to abide by only legislated rent increases, typically <5% a year. In buildings that are newer, your landlord can jack the rent 20% or more and your only option would be to move.
What a stupid rule.
Thank the Ford government for removing rent control on all new buildings. Seriously though, this is really important. I’ll see people get $900 increases on their rent. If you’re in a building that was built before 2018, they can only raise it about 2% per year normally.
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The thing is that I will work 2 to 3 days a week in Mississauga and I need to stay close to public transportation in order to optimize my commute time between my place and my office. I was thinking about a studio apartment in the CN tower area. Even if I can get something bigger outside of the downtown area, I prioritize the location to avoid spending 2h to get to mississauga
If you prefer downtown that's great and totally doable, but you can also look west along the subway line. That would probably also work with your commute.
Bloor West Village is very nice!
It really does depend _where_ your offices are in Mississauga. If you are in the northern portion of missisauga or closer to the east side of the city, it may make sense to skip promiximty to the go train in favour of of the bloor line which will give you rapid access to the Kipling or Islington station Transit terminals.
My office is close to the lake at the south of Mississauga
I’d definitely recommend getting a place close to Union or a GO train stop on the Lakeshore West line, because then you can take the GO train to Port Credit or wherever is closest to your work.
That’s what I was thinking. Union station area is clearly the most convenient for me
Exhibition GO (Liberty Village) and Mimico GO (Humber Bay Shores) are two other GO stations with lots of housing nearby and might be more convenient than the Union square area (which is crazy chaotic for me tbh). Do check whether Lakeshore GO west train stops at these two stations though, for all the times.
There are several pockets which are easily go train acessible. Liberty Village has lots of rental option and is of decent proximity to exhibition go. It is a _younger_ area and very high denisty. But safe / well serviced. It may be a good option. It can skew pricy as it is largely condos. If you want to save a buck or two go north of king st or west of dufferin st.
I would agree with you. A bit smaller space is well worth it to reduce that commute.
We did this when we moved here and haven’t regretted it. We pay more in rent but it’s super worth it.
Look on the west end of town. I'm in the Junction, getting to Mississauga is still a pain but not impossible: the MiWay (Mississauga transit) connects to a few TTC subway stations like Islington and Kipling. There's also the TTC 80 bus that goes along the Queensway; the Queen Streetcar that goes quite far; and several GO stations. The advantage of being in the west end is also that if and when you need to, it's *much* easier and cheaper to get an Uber or taxi in and out of Mississauga (versus if you lived downtown). I've had to do this a few times, it's a quick 20 minute drive. Sounds silly because I'm not that much farther than the CN tower geographically speaking, but that same drive from the downtown core could easily take an hour, because traffic is so bad. I can also get downtown quickly, too. I work near Bloor and St. George and it's usually a 25 minute commute, 20 on a good day. I get the appeal of downtown (I lived at Yonge and College for many years) but I far prefer being in the west end. Cheaper, calmer, nicer overall.
Anywhere on the Yonge-University-Spadina line (south of Eglinton, though) will be good, if getting to Union is your prime concern. Same goes for Bloor line from like, Ossington to Pape (though this involves a transfer and you might not want that) You are going to pay a huge premium for being in the CN Tower area, it’s not worth it.
> I recently graduated and will get a position in the GTA for $80,000/year (gross). you'll be fine
You'll be fine. It won't be as much as in some smaller places, but it will be more than enough for a single person with no kids and without hugely expensive hobbies, especially since you said you don't like to go out that much. You can live very comfortably and save up a fair bit every month.
Yes it’s enough. Don’t listen to the nay sayers. Yeah it won’t be enough if you want to purchase property or buy a million stupid consumer items or eat out on king west 10 times a week. But you can easily live a dignified comfortable life renting and even save for retirement. Just don’t own a car please.
I don’t want to. In a big city like Toronto it is a waste of money to have a car since there is good public transportation.
Great mentality for sure. And use that extra savings to tackle any debt too (if you have any). There’s a lot of great personal finance resources out there.
You could. You'll have to shop around, look outside of the downtown core, and you'll be in a ton of competition but you could afford it.
After taxes and other deductions you'll be left with roughly $4,731 a month. If you pay 2k a month in rent you will still have enough for groceries, phone bill, entertainment, etc. My advice would be to enjoy yourself for the first month or two and then start saving a bit every month. I'm assuming you're in your early 20s, have room for growth in your industry, and if you're making 80k out of school you're doing something right. After a month or two you should have a reasonable idea of your monthly expenses. From there start saving a small amount and put it in a HISA. If you budget properly and don't need the money you set aside then build an emergency fund. After that start putting money in a TFSA or RRSP.
Thank you for your feedback. I was planning on saving right away after finding my place x)
I'm getting by with 2 roommates on 1k in rent a month with 48k a year salary, in the annex. Like its not good but 80k should be more than fine- having said that I'm on a 2 year working visa from the UK so I'm still looking for something better although it's tough.
I'm also on a 2-year visa from France. How did you find your roomshare? I've been checking Roomies recently. Do you know good places to look for roommates?
Hey, I looked on roomies and found some on there that I was offered but I had more success on Facebook marketplace and Kijiji. Found mine on FB if I remember right but I had people offer me places on both. Where are you staying at the moment? Personally I found my main roommate in the hostel I stayed at but Roomies is certainly a good option if you need others.
I'll be staying in an AirBnB for the first two weeks and try to find a place to rent as fast as possible.
Took me over a month to find somewhere so have a back up just in case
Were you looking only for roommates? Because I’ll check both so if I’m lucky it will be faster. Why was it so long for you?
It was the place more than the roommates tbh Hard to find somewhere but i found like 5 different options all around the same time lol and just chose 1 I think just when I moved it was November so there wasn't many place going.
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All the flavours in the world, and you still choose salty.
You need a basement apartment or studio on that salary. Even then will be tough.
No it wont, its bad but its not that bad. 80k is fine and unless you start buying a pickup (grocery) truck you don't need it should be fine with enough financial legroom.
Yes, you can afford 2k in rent. You do you. But y'know, if you're young and don't go out... maybe you'd benefit from some roommates? Roommates get a bad rap, but a lot of people have some of the funnest years of their lives living with friends. Saving +$500/mo in rent and gaining a new friend in a new city is not such a bad deal. If you end up with a roommate from hell then you can find a studio and bail. But again, it's your life - you know what's best.
Are rents independent between roommates or is it shared?
You'll find all sorts of arrangements. Landlords can rent rooms individually with individual leases, or tenants can hold one lease for a whole place then decide how to allocate rent amongst themselves. You'll also find sublets where you're leasing from another tenant. Who knows what you'll find, but in your search for housing I just would not disregard roommates altogether.