Best 1-bedroom apartment for rent Toronto under $1000

One-bedroom apartments

While Toronto can get a little too expensive for people who might not be looking to spend too much on living in the big city, that certainly does not mean that you cannot find the best one-bedroom apartment for rent in Toronto under $1000. While there are some good options for the best one-bedroom apartments for rent in Toronto under $1000, we will first need to establish that a person needs a one bedroom apartment for rent in Toronto.

This is because there might be other better options than a one-bedroom apartment, considering that Toronto is a big city, and while living in the big city, you need to maximize your living space and ensure that you have plenty of space when it comes to accommodating guests or other people. 

Let us first understand why a one-bedroom apartment might be better than other options, for instance, a house.

Lets get one thing straight: the fact that you are looking for a one-bedroom apartment means that anyway this goes, budget is going to be a major factor in the equation, given that it needs to be below $1000. But since $1000 gets you much more than a one-bedroom apartment in Toronto, here’s some factors that may help you get the best one. 

Financial options/ considerations

The first factor is always going to be your financial standing, how much can you afford. For example, going for an apartment on a tight budget will have you living deep out of the suburbs. You will also have to look at locations; several high-rise places and affluent places will have apartments that will cost more than a decent one-bedroom apartment out in the suburbs.

As such, the situation completely depends on your own financial standing: whether you can afford an apartment in the city or in the suburbs, and whether its below $1000 or above, and where, if you can afford one, should you get them. Always remember to not go bust trying to go grand: it will be you who ends up paying for that. 

Lease, mortgage or purchase?

Once you make the decision of either, the next step in financing is deciding what mode of payment you’re going to go with. If you have considerable amount with you, buying a property straight out is always the better option. That way, you’re not stuck with any long-term payment plans and dealing with premiums.

However, since not everybody has such amount on hand, your next decision will then be between leasing or mortgaging; both have their own sets of advantages and disadvantages, and you will mainly look at the terms of the agreement and the premiums on the loan that will bind you for the next two or three decades. 

Space 

Once the financing talk is done, now we can get to the real factors that will determine your choice: whether to go for a one-bedroom apartment or go with a house. The primary factor: space. Space is something that stays stationary, while the need for it eventually grows. In that regards, an independent house will always be better than an apartment, even if the latter has two bedrooms.

The simple addition of a garden, different rooms, a basement, and a yard can really amp up the space factor and can be the best option for a family that is growing. However, that is certainly not to say that an apartment cannot have space; you can utilize space efficiently and intelligently in an apartment and still have the same amount of usable space as a decent-sized house. 

Maintenance and upkeep

Whether you buy a house or lease an apartment, and whether its in the city or in the suburbs, one thing is the same for both houses and apartments: maintenance and upkeep. How much are you willing to spend, or how much time are you willing to take out of your routine to clean, dust, wipe down and do an overall maintenance job at your house or apartment.

That is the one thing that you need to keep in mind when deciding between the two. In this regards, apartments are the clear winners: aside from less space, you get services within the apartment block that can maintain your apartment for you. In a house, not only is it going to cost more, if you end up doing it yourself, its going to take a whole lot of time. 

Location

With real estate in general, its all about the location. House in the suburbs versus apartment in the city. Both have their distinct advantages and disadvantages. With the suburbs, you get a quiet, homey surrounding that has no big city rush, lots of space and usually a tight-knit neighbourhood.

For the city, you get access to all sorts of locations, a great infrastructure, public transport and better facilities. So, with the choice between the two, you will have to measure it up against what specifically are you looking for: a house in the suburbs, or a one-bedroom apartment in the city that has all the facilities in the world, and then some. 

Security and safety

Another really big factor, especially for families with kids. We don’t live in a safe world, unfortunately, but that does not mean that where you live should be devoid of any security and safety features to give you peace of mind. Apartment blocks regularly offer gated entrances, visitor logs, CCTV coverage and additional security at the entrance to ensure the occupants have the peace of mind and a system in place that ensures security. Again, in an independent house, you will have to pay for CCTV installations, and once they are out of range, its not a pretty thought then. With their location in the city, apartment blogs are densely populated, which contributes to the human and neighbour element of security as well.

1-bedroom apartment for rent in Toronto under $1000

Start by checking out Toronto Boutique Apartments. They have some great options and an overall great selection of 1-bedroom apartments for rent across Toronto, occupying some of the best areas in the city. For more information, check out our website and find listings that are tailor-made for you.

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