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5 Things to Consider When Choosing Between Renting and Buying

July 9, 2023
buy or rent in toronto,

You may have heard the advice that rent is money that you are throwing down the drain, especially, if you’re not making a mortgage investment.  However, due to the increase in the pricing of housing around the Greater Toronto Area, more houses have experienced a drop in affordability in the past few decades, and buying one isn’t an easy option for everyone. 

So, the debate on whether to rent or buy is very complex from a financial perspective. And it can get a bit confusing which one to choose.

Are you trying to decide which decision is right for you? Read on for a side-by-side comparison of their pros and cons to help you know whether renting or buying is best suited to you.

Flexibility vs. Stability

With mortgages, you receive financial penalties for breaking it by moving and you have to pay taxes to sell your property. But with renting, you can move after your initial lease is over, which is typically after 12 months. 

This benefits you if you’re thinking of moving any time soon or want to have the flexibility to move at any point in your life rather than committing to one place.

On the other hand, when you own a home, you can always have peace of mind that you’ll never get suddenly evicted. Also, you’re in charge of making all the decisions about your home – not your landlord. Want to renovate it or add the ensuite you’ve always wanted? Go ahead. 

Buying a Cheaper Apartment vs. Retaining Capital Gains

Monthly mortgage payments can be higher than the cost of rent – at least in the beginning.

By and large, it’s usually cheaper to rent. But this heavily depends on where you choose to live.

Another thing to consider is that when you rent, you don’t retain capital gains. But if you own a home, you’ll pocket the additional equity if the value of your home increases. 

And if you choose to sell it in the future, you’d realize the capital gains.

Access to Alternative Investments vs. A Simple Investment

Renting your home doesn’t mean you can’t make investments to benefit you in the future. Since you’ll likely save money by renting, you can invest what you’ll save into stocks, a GIC, or starting your own business.

On the other side of the coin, owning a home is a simple investment into your future, which is one of the things that makes it so attractive to some people. Once you’ve paid it off, it’ll be a guaranteed asset. And you don’t have to spend time worrying about the uncertainty of stocks or bonds. 

Having More Disposable Income vs. Building Up Equity

Homeowners take on a considerable amount of debt, which may hinder them from investing elsewhere, such as RRSPs or TFSAs. In some cases, homeowners may even find that they have to spend most of their income on the costs of homeownership. 

But with renting, you can have more financial freedom. So, you can save up for retirement and have more money left over for other needs and wants. 

On the other hand, every monthly payment you give towards your mortgage helps you build equity in your home. And the amount of interest you have to pay will decrease over the years. 

Less Maintenance vs. More Privacy Without a Landlord

The benefit of renting a property from a landlord is that you’re free from all the hassle of its daily maintenance and upkeep. 

Although you still have to pay for repairs, your landlord is the one responsible for maintaining your home. This saves you more time and not to mention, extra costs. 

But the downside to this is that while you’re living on their property, they’re in charge. And you wouldn’t want to deal with a landlord policing your actions or a surprise eviction notice.

DelSuites Has the Perfect Rental You’re Looking For

Are you considering choosing a rental but don’t know where to start looking? Or are you waiting to close a deal on a new house and need to vacate your current property before the closing date? 

Whatever your need is, we have the right rental for you. We have apartments and condos, as well as short-term rentals and leases. We also have furnished and serviced options.

And with all our locations in Mississauga, North York, Scarborough, and many more cities, you can choose the location that’s best for you. 

Ready to get started? Browse through our numerous options to find the rental that’s best suited to you today.

Toronto Condos

Why Furnished Short-Term Rentals Are Perfect While You Are Renovating Your Home This Summer

May 25, 2023
Furnished Short Term Rentals, Toronto, Renovating Home

Are you planning a home renovation this summer? 

The idea of lingering in your own home in a construction zone may seem daunting, and the prospect of temporarily moving in with family or friends might not be too appealing either. 

Don’t worry, we have the perfect solution: staying in a furnished short-term condo rental. Our condo rental options provide the ideal balance of comfort, convenience, and flexibility during your renovation. 

Here is why furnished short-term rentals are the perfect choice for your home renovations.

Comfort and Convenience

First and foremost, furnished short-term condo rentals in Toronto offer unparalleled comfort and convenience. These fully-equipped accommodations include all the essential amenities—such as comfortable beds, kitchen appliances, and even high-speed internet access—to make your temporary stay as enjoyable and hassle-free as possible. Furthermore, these condo rentals come in a variety of sizes, ranging from cozy studio suites perfect for solo travellers to spacious three-bedroom condo rentals, perfect for a larger family.

Flexibility

One of the biggest advantages of opting for furnished short-term condo rentals around Toronto is the flexibility they offer. As the name suggests, these rentals are available for short-term stays (30 nights or longer), which allows you to stay as long as your renovation lasts. This flexibility eliminates the need to commit to long-term leases, thus providing an ideal solution for those undergoing temporary housing renovations.

Location, Location, Location

Toronto is a bustling city that boasts diverse neighbourhoods, each offering its unique charm and character. By choosing a furnished short-term condo rental, you have the opportunity to explore different areas of the city and immerse yourself in Toronto’s rich cultural landscape. Whether you prefer the vibrant nightlife of the Entertainment District, the tranquil beauty of the Beaches, or the historic charm of the Distillery District, there’s a perfect neighbourhood waiting for you to discover.

Cost-Effective Solution

Renovations can be expensive, and the last thing you want is to add more to your budget by paying for costly accommodations. Moreover, these rentals come with fully-equipped kitchens, allowing you to save money by cooking your meals instead of eating out.

Opportunity to Test Out New Neighborhoods

If you’ve been contemplating a move to a different neighbourhood or are simply curious about what it’s like to live in another part of Toronto, a furnished short-term rental offers the perfect opportunity to do so. By staying in a condo rental, you’ll get a taste of the local lifestyle, from nearby parks and restaurants to transportation options and community events. This experience can provide valuable insights to inform your decision should you consider a more permanent move in the future.

Minimal Disruption to Daily Life

Living in a construction zone can be challenging, to say the least. By opting for a furnished short-term rental, you can maintain a sense of normalcy during your renovation. Not only will you have access to all the necessary amenities, but you’ll also be able to maintain your daily routines, such as work, getting the kids to school, and social activities, without significant disruption.

A Stress-Free Environment

Home renovations can be stressful, with noise, dust, and limited access to your living space. A furnished short-term condo rental provides a serene, stress-free environment where you can unwind after a long day of overseeing the renovation process. By having a comfortable, temporary home base, you’ll be able to keep your stress levels in check and better enjoy the exciting transformation of your home.

Finding A Furnished Condo Rental Right For You

In conclusion, furnished short-term condo rentals in Toronto offer the perfect solution for those undergoing home renovations this summer. With their unbeatable combination of comfort, convenience, flexibility, affordability, and diverse location options, these rentals are indeed a home away from home during your renovation process. Furthermore, the opportunity to test out new neighbourhoods and maintain daily routines with minimal disruption makes furnished short-term rentals an attractive choice for those seeking a temporary housing solution. Lastly, the stress-free environment provided by these rentals will ensure that you can fully enjoy the exciting transformation of your home without being overwhelmed by the renovation chaos. So, why not take advantage of this fantastic option and book your furnished short-term rental in Toronto this summer?

Start your search for your next furnished short-term condo rental here at DelSuites.

Business Travel, Toronto Condos

How To Make A Furnished Short-Term Condo Rental Feel Like Home

February 13, 2023

There are many good things about renting a short-term that is already set up. These types of rentals are great for people who are travelling for business, going on vacation, or even in-between moves. But making a short-term feel like home is one of the hardest things about living there. Even though you may only be there for a few months, that doesn’t mean you shouldn’t feel comfortable and at ease in your temporary home.

Personalizing your space is the first step to making it feel like home. This can be done in a number of ways, such as by adding a few of your own personal items or even having photos of you and your family in frames on end tables. 

Bring Small Personal Belongings With You

Adding some of your favourite amenities is another way to make a short-term furnished apartment feel like home. If you like to cook, for example, you might want to bring your own kitchen tools and cookware. If you like coffee, bring your own bags of your favourite beans. Bring your own teapot and a few boxes of tea if you like to drink tea.

Make It Feel Cozy

Comfort is another way to make a short-term furnished apartment feel like home. This means making a space that is good for relaxing, like a cozy reading nook, a comfortable chair, or even just turning down the lights. You can also make the space feel more private by putting up room dividers.

Unpack Fully And Put The Suitcase Away

Unpacking your suitcase and storing it away, as well as organizing the space, is another important thing you can do to make a short-term furnished apartment feel like home. This can be done with things like shelves, drawers, and even storage under the bed. You can also keep your things in order with tools like hanging organizers and shoe racks.

Your Home Away From Home

Tourists and renters in Toronto are becoming more and more interested in short-term apartments that are already set up. This is because they are a more convenient way to stay than a regular hotel. Also, people who rent them have more privacy and freedom than people who stay in traditional hotel rooms. This can be a great option for people moving to Toronto or coming for a short business trip. It can also be a great choice for people on vacation who want a place that feels like home.

Start Your Search For A Short-Term Rental in Toronto Today

There are many options when it comes to finding a short-term furnished apartment in Toronto. You can find places to rent in many places, like downtown, along the water, or even in the suburbs. You can also find rentals with different price ranges.

In the end, short-term furnished apartments are a good choice, but it can be hard to make them feel at home. But with a few easy steps, you can give it your own style. If you have the right idea, you can make the most of your short time in Toronto and enjoy it.

Start your search for a property all across the Greater Toronto Area through DelSuites now.

 

Scarborough, Toronto Condos

7 Reasons to Live in Scarborough, Toronto

February 12, 2023
Furnished Apartments in Scarborough, Condo Rentals

When it was first settled by the Europeans in the 1790s, Scarborough wasn’t much more than a small collection of farms and tiny villages. Now amalgamated into the present city of Toronto, this metropolitan area has grown significantly and it has a lot to offer. 

It’s one of the largest districts in the Greater Toronto area and its population is wonderfully diverse, thanks to waves of new immigrants over the years. It’s a vibrant, exciting place to live and there are so many things to see and do. 

Here are 5 reasons you’ll love Scarborough:

Reasons to Live in Scarborough

1. There’s Plenty of Great Food

Scarborough has no shortage of places to fill up on something delicious. There’s the iconic Johnny’s Hamburgers, a retro diner that has been a local favourite since the 1970s. You’ll also find dim sum, bento boxes, sushi, ramen, roti and many other diverse dishes at various eateries throughout the neighbourhood. 

When it comes time for dessert, you can head to Patisserie Royale and try the wonderfully flaky baklava. Or, the divine crème Brule at 0109 Dessert & Chocolate

2. It’s Safe

According to Toronto Police, the crime rate in Scarborough is three percent lower than it is in the rest of Toronto. Although Scarborough has a reputation for high crime rates, these are unfounded and many city councillors have spoken out about how unfair and untrue they are. 

It’s a friendly, safe place to live and there are many excellent schools – making Scarborough a great choice for families with young children.

3. It’s Incredibly Green

Scarborough has a reputation for being greener than any other part of Toronto. The northeast area of the suburb is mostly rural, with some of the last remaining farms in the Greater Toronto Area. Also, this neighborhood includes some of the most popular natural landmarks in the city, such as the Toronto Zoo and Rouge National Urban Park. 

On a warm day, you can enjoy the fresh air and go for a swim in the river. Rouge Beach is a hidden gem that is one of the prettiest spots in Scarborough. It’s peaceful, relaxing and lined with soft sand. Or, take a walk along the Scarborough Bluffs and admire the steep cliffs and stunning views. Being outdoors is good for your health, so this is one of the most important reasons to live in Scarborough. 

4. There’s Plenty of Great Shopping

Another great reason to base yourself in Scarborough is the city’s fantastic shopping scene. You’ll find a lot of great options for fashion at the Scarborough Town Centre. It’s a massive mall with lots of selection – so you’ll be sure to find what you are looking for. 

For more info on the retail therapy available in this part of town, you can check out our shopping guide to Scarborough

5. You Can Be Active

The parks, beaches and green spaces mentioned above make it easy to stay healthy and active when living in Scarborough. A beautiful hike, run or bike ride is never far away. This is another one of the great reasons to live in Scarborough.  

But even in the winter, it’s possible to lead an active lifestyle here, thanks to the Toronto Pan Am Sports Centre. This facility has everything from swimming pools, a climbing wall, a gym, drop-in classes and much more. 

6. It’s an Affordable Place to Live

Some areas of Canada have become so expensive they are almost unattainable. However, it’s still reasonably affordable to live in Scarborough. The prices of housing and rental apartments are accessible, yet you’ll still be within reasonable proximity to Toronto. 

Living in Scarborough means that you’ll still be within a short subway ride from the city. Yet, you’ll be able to avoid ridiculous prices. 

Related: Great Family Activities in Scarborough, Toronto

7. It’s a Hotbed of Talent

This vibrant Eastern suburb has been home to some of the biggest talents to come out of Canada. There’s musician The Weeknd (aka Abel Tesfaye), actor Mike Myers and singer Deborah Cox. The Barenaked Ladies formed in 1988 in Scarborough and members Jim Creeggan and Ed Robertson are from there. 

Scarborough is also the hometown of Olympic sprinter Andre de Grasse, Former Ontario Lieutenant Governor David Onley, actor Eric McCormack (of Will and Grace fame) and actress and comedian Debra McGrath. So, if you choose to live in Scarborough you should know that you’ll be in good company. 

Living In A Furnished Apartment In Scarborough

Are you looking for a furnished apartment in Scarborough for more than 30 days? You could be in the middle of a renovation or you could be hired for a project that is in the area, DelSuites provides great condo rental options with beautiful amenities that are convenient to major shopping and transit hubs.

View fully furnished apartments in Scarborough now

 

Business Travel, North York, Toronto Condos, Toronto Family Travel, Vacation Travel

Hullmark Centre Connects You to Toronto—Elegantly

August 23, 2022
Hullmark Centre lobby

There are the pictures, the video tour—and then there’s real life at Toronto’s Hullmark Centre. What’s it like to live day to day in a building—whether it’s for a month or six months? It’s a combination of neighbourhood flavour, personal design, and how your new home connects to the wider city.

This week, we’ll take a closer look at Hullmark Centre: 35 stories of glittering sophistication in Toronto’s Yonge & Sheppard neighbourhood.

An uptown neighbourhood that has it all

Hullmark Centre is the centrepiece of Toronto’s vibrant uptown, Yonge & Sheppard: a neighbourhood that combines business savvy, family fun, laid back city living, and the diversity Toronto is famous for into one place.

Without losing its community feel, Yonge & Sheppard packs a bustling corporate district into the sky. The neighbourhood is home to major corporations like Nestlé and Bank of Montreal, legal offices, and a growing medical technology hub.

Government and diplomatic offices are also quartered in the neighbourhood: Service Canada, ServiceOntario, and Canada’s federal immigration agency have major offices in the area. It’s home to multiple diplomatic offices, including the consulates of South Africa, Panama, Argentina, Ghana, Kazakhstan, and Trinidad and Tobago.

Despite its business credentials, Hullmark’s at the centre of one of Toronto’s most family-oriented neighbourhoods. Hullmark is surrounded by both public and private schools—including two Montessori locations and one of Toronto’s most famous arts schools, Claude Watson School for the Arts. It’s ringed by parkland and playgrounds, including a major golf course. The neighbourhood is also a hub for religious communities, with churches from multiple denominations, a mosque, and several synagogues in the area.

There’s also no lack of culture and fun. With a major movie theatre a few blocks north, a slew of karaoke bars and Asian cafés, and escape rooms, it’s easy to plan a quick night out. Hullmark is also a few short blocks south of arts and concert venue Meridian Hall and Mel Lastman Square, a 20,000 square foot public square complete with a winter skating rink, outdoor concert space, a regular farmers’ market, gardens.

The square also hosts one of Toronto’s biggest library branches—complete with a hands-on digital innovation space and fabrication lab—and programming for everyone from young children to adults new to Canada.

An elegant uptown lifestyle

Behind Hullmark’s doors is where the vibrant city life of Toronto’s uptown meets soothing elegance.

From its warm, bright lobby to the marble kitchen counters, DelSuites’s Hullmark suites are built for your urban lifestyle. Each is equipped with comfortable, modern furniture: warm wood, soothing greens, and ultra-chic greys. You’re welcomed into a space that’s bright, natural, and ready to fill with your own unique personality.

When you want to sweat, socialize, or just relax, there’s also the chance to use Hullmark’s peerless amenities. Hullmark boasts a spacious, fully equipped fitness centre with treadmills, cycling, yoga facilities, and full weights available. For swimmers, an outdoor pool lets you get your laps in, and there’s an indoor hot tub and sauna to relax.

For friends and family, the indoor party room includes a wet bar and fireplace—perfect for dinner parties, cocktail receptions, or holiday meals. A theatre-style media room lets you host your own mini-cinema or invite friends to watch the big game. And if you’re working remotely, Hullmark’s sleekly professional conference room means you can meet clients and colleagues with flair.

The city at your feet

One of Hullmark’s best features is how it connects to everything you need for Toronto living.

Hullmark living makes groceries and necessities easy, with a Whole Foods Market, Rexall Drugstore, and an LCBO just downstairs in the building. Local upscale grocer Longo’s Fine Foods and Korean grocery H-Mart’s M2M concept are across the street.

But beyond the neighbourhood, Hullmark gives you direct indoor access to Yonge/Sheppard subway station and two transit lines. On hot or wintry days, you can unlock the whole city—and the greater Toronto region—without stepping outdoors.

For those who’d rather take the car, Hullmark is located just blocks from Highway 401, making your adventures through the Toronto area and Southern Ontario region easy. With five 24-hour charging stations in the neighbourhood, it’s an ideal area for electric, hybrid, and Tesla drivers.

Experience Hullmark Centre for yourself with DelSuites

There’s a little bit in the Hullmark Centre lifestyle for everyone: families, professionals, retirees, community-lovers, and more.

If you’d like to try out Hullmark living—or make it a fit for your energetic city life—call us at 647-370-3504 or email info@delsuites.com. With fully furnished short-term rentals at Hullmark Centre and throughout the GTA, DelSuites can give you a taste of Toronto hassle-free.