To some, the term “luxury rental” sounds like an oxymoron, but high-end rental properties have been around for a while. One reason the concept might be trending lately is in direct relationship to the current real estate market. With high home prices and stagnant wages, many who would typically buy property are now looking to the rental market for a home.
Many developers are building luxury townhomes for rent or luxury apartment buildings knowing full well there is a market for these types of dwellings. There are also people who buy houses and condo units as income properties, so renters can live in affluent neighbourhoods without having to commit to buying.
Affordability
While there are plenty of luxury houses in Toronto, they aren’t necessarily affordable to all who want them. The real estate landscape has really changed, making the rental market more attractive to a wider range of people from all socioeconomic levels. For example, people who perhaps would have been in the market for a starter home are now looking at the rental market for housing.
Bottom line: if you cannot qualify for a mortgage but you still make enough income to handle monthly rent payments, a luxury rental could be for you.
Having a nice home
Many people are attracted to luxury rentals because that tends to mean they’re either newly built or renovated. If you want a nice home with new appliances and finishes, a luxury rental house or condo unit will give you that and more. Continue reading for more information.
Contact us:
Gottarent.com Head Office
Address: 44 Frid Street
City: Hamilton, ON
Zip Code: L8N 3G3
Phone: 1-888-440-2099
Many developers are building luxury townhomes for rent or luxury apartment buildings knowing full well there is a market for these types of dwellings. There are also people who buy houses and condo units as income properties, so renters can live in affluent neighbourhoods without having to commit to buying.
Affordability
While there are plenty of luxury houses in Toronto, they aren’t necessarily affordable to all who want them. The real estate landscape has really changed, making the rental market more attractive to a wider range of people from all socioeconomic levels. For example, people who perhaps would have been in the market for a starter home are now looking at the rental market for housing.
Bottom line: if you cannot qualify for a mortgage but you still make enough income to handle monthly rent payments, a luxury rental could be for you.
Having a nice home
Many people are attracted to luxury rentals because that tends to mean they’re either newly built or renovated. If you want a nice home with new appliances and finishes, a luxury rental house or condo unit will give you that and more. Continue reading for more information.
Contact us:
Gottarent.com Head Office
Address: 44 Frid Street
City: Hamilton, ON
Zip Code: L8N 3G3
Phone: 1-888-440-2099
