Your Guide To Getting A Great Apartment In Brampton
Brampton is one of the fastest-growing cities in the Greater Toronto Area, with a population that has nearly doubled in the last 20 years and projections to reach nearly one million residents by 2051. One common question is, should I get an apartment in Brampton?
The city’s rapid growth stands in stark contrast to neighboring municipalities where population growth has slowed down as they’ve run out of room for new subdivisions, and intensification efforts have been stymied by local regulations and high costs.
The success of this GTA suburb is due to several factors:
- Brampton rents are generally more affordable than other cities in what is a very expensive metropolitan area.
- Transit connections both within the city and between other major nodes across the GTA have been improving in recent years.
- Brampton has become one of the more popular destinations for newcomers arriving in Canada.
If you, too, have set your sights set on this growing city, this is your guide to finding apartments for rent in Brampton for less.
#1 Find A Rent-Controlled Apartment In Brampton
Before you rent in Ontario, make sure you know the local rules around rent control. The most important thing renters need to know is that only units that were a part of the market prior to November 15, 2018, are rent-controlled. Units that were not rented out before that date are exempt from the rent control rules in Ontario. The landlord might raise the rent by as higher as they want once per year.
If you are in a rent-controlled unit, the landlord can increase the rent each year, but only by the percentage allowed by the provincial government, which is usually around inflation. If the landlord has invested a lot in renovations or maintenance, they may also apply for a Above Guideline Increase.
#2 Know The Difference Between An Apartment And A Condo
The next thing you should understand is the difference between an apartment and a condo. Over the last 30 years, Ontario has seen a steep decline in the amount of purpose-built rental housing that has been built.
In its place, developers have been much more keen to build condos, many of which are purchased by investors and rented out. This has caused many misconceptions, such as the idea that condos aren’t rent-controlled or that the same rules don’t apply. This simply isn’t true.
The difference between an apartment in Brampton and a condo building is the number of owners. A purpose-built apartment building has one single owner: the landlord. A condo building can have many different owners, as many as one for each unit. If they’re renting their unit out, most of the same rules apply, although the condo board can pass additional rules, such as rules banning pets.
#3 Know Your Neighbourhoods
Finally, get to know your Brampton neighborhoods. If you want to be close to highway access, areas like Bramalea Woods and Madoc are ideal for families. If you’re hoping to be close to a GO station that will quickly get you to Toronto’s Union Station or west to Kitchener-Waterloo, areas around Mount Pleasant, Bramalea, and central Brampton are the places to rent.
Brampton is a growing and increasingly popular place. Find a great, affordable apartment close to the amenities you need.
Reasons To Own An Apartment In Brampton
Now that you know the steps to take to purchase a property or house in Brampton, here are a few reasons why you should do so. Without knowing the apt reasons, it’s not ideal to invest in such a costly endeavor.
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Cost-Effectiveness
Purchasing a house in this wondrous destination is quite affordable as compared to other cities in Toronto. The price for buying an average house in the city does not exceed $1.3 million. In comparison to cities like Toronto, the price is lower. Because in the latter, prices might surge upto $1.6 million.
There are ample condos and townhomes in the city, which keep increasing their value by 40-45% every year. Honestly, Brampton provides unlimited opportunities for first-time investors and buyers. Especially the ones who are entering the market to build equity.
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Amenities
In order to live a comfortable life, Brampton offers almost everything. From a variety of entertainment to recreation and shopping centers, there’s nothing that you will not find here. A few infamous destinations here are Shoppers World, Bramalea City Centre, Rose Theatre, etc.
There are ample schools, colleges, and financial institutions as well. You can visit a hospital, library, and even community centers any time you want.
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Development
Having a population of more than 600,000 residents, Brampton has a big potential for development. The best news is that the city has been investing in its innovation, transportation, sustainability, infrastructure, and livability.
Check out a few innovative projects like the Hurontario LRT extension or the Riverwalk project to have an overall idea. There are tremendous opportunities for growth in the city.
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Accessibility
One of the most astounding features of Brampton is the accessibility it serves. The city has well-developed connections with the GTA. One can easily avail of any transportation- from bus to train. It is also fairly easy to commute on major highways like 401, 407, and 410.
If there’s a need to travel by air, you can take a car and reach the Toronto airport in 25 mins. Brampton’s public transit system is well-equipped to operate light rail and buses all through the city.
Getting An Apartment In Brampton Just Got Easier…
With this, it’s an end to this comprehensive guide but surely not an end to your enlightenment. While it might seem easy to own a house in Brampton, you might want to stay on the safer side. From legal complexities to financial troubles, much goes into the process of home buying.
So, why do everything on your own? Hire a reliable real estate agent and distribute the baggage equally. Get your own house in Brampton, and that, too, is under your budget. All it takes is to be a little open and communicate your needs and requirements precisely.
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