The choice between a furnished apartment and a hotel is an easy one if you plan on staying in the city for more than a month at a time. However, if your trip looks to be a much longer one - between 3 and 48 months at the most - you may need to decide whether it makes sense to rent a furnished apartment or opt for an unfurnished apartment which you can fill with your own possessions.
Who Are Furnished Apartments Right for?
Not everyone will fit into the category of someone who should get a furnished apartment. In general, they cost between $2500 and $4000 per month and therefore should only be rented when the total cost is 35% or less of your total salary. If your company will be paying for the apartment, it is a good idea but only if you don't mind using someone else's furniture for so long.
In general, a furnished apartment is a fantastic option for shorter stays. Only one or two months in hotel room would be cramped and uncomfortable, but in a furnished apartment, the stay would be luxurious and relaxed. You would have double the space for the same price and many more amenities including a money saving kitchen and no hotel taxes.
However, if you plan on staying for three or more years, it starts to become an issue of whether you would like to own your furnishings or if you plan on staying after your duration in the city over. For example, if you come from Florida and will be staying in Toronto for three years, you very well may decide to stay there when the time is up. If you do, a standard apartment provides more options.
Other Factors
If money is the only factor you're considering, a furnished apartment can save you money depending on the duration. Furniture is expensive, as are many things like televisions and artwork that will already be present in a furnished apartment. It might take a few months' worth of rent to pay off the price of these additions if you stay in an unfurnished apartment.
Additionally, you will have access to a washer/dryer, utilities are paid for, you have a gym and a pool, and many times parking - all things that can cost a lot of money over time, especially if you are living in downtown Toronto where the prices are much than in an outlying district like Markham.
The money may not be an issue if your company is paying for you, but it can still affect how comfortable you feel in your home depending on your feelings of ownership. You should also consider transportation issues, the neighbourhood in which you want to stay, what things are most important to you in a home, and whether you'd like to save money in the long run.
A furnished apartment is the ideal solution for anyone staying less than 6 months in Toronto or its surrounding suburbs, but once the duration gets longer than that, you should sit down and consider what will work best for you in a new city. A furnished apartment in Toronto is a fantastic way to live, but if you prefer a space you can define on your own, an unfurnished apartment is always an option.
Who Are Furnished Apartments Right for?
Not everyone will fit into the category of someone who should get a furnished apartment. In general, they cost between $2500 and $4000 per month and therefore should only be rented when the total cost is 35% or less of your total salary. If your company will be paying for the apartment, it is a good idea but only if you don't mind using someone else's furniture for so long.
In general, a furnished apartment is a fantastic option for shorter stays. Only one or two months in hotel room would be cramped and uncomfortable, but in a furnished apartment, the stay would be luxurious and relaxed. You would have double the space for the same price and many more amenities including a money saving kitchen and no hotel taxes.
However, if you plan on staying for three or more years, it starts to become an issue of whether you would like to own your furnishings or if you plan on staying after your duration in the city over. For example, if you come from Florida and will be staying in Toronto for three years, you very well may decide to stay there when the time is up. If you do, a standard apartment provides more options.
Other Factors
If money is the only factor you're considering, a furnished apartment can save you money depending on the duration. Furniture is expensive, as are many things like televisions and artwork that will already be present in a furnished apartment. It might take a few months' worth of rent to pay off the price of these additions if you stay in an unfurnished apartment.
Additionally, you will have access to a washer/dryer, utilities are paid for, you have a gym and a pool, and many times parking - all things that can cost a lot of money over time, especially if you are living in downtown Toronto where the prices are much than in an outlying district like Markham.
The money may not be an issue if your company is paying for you, but it can still affect how comfortable you feel in your home depending on your feelings of ownership. You should also consider transportation issues, the neighbourhood in which you want to stay, what things are most important to you in a home, and whether you'd like to save money in the long run.
A furnished apartment is the ideal solution for anyone staying less than 6 months in Toronto or its surrounding suburbs, but once the duration gets longer than that, you should sit down and consider what will work best for you in a new city. A furnished apartment in Toronto is a fantastic way to live, but if you prefer a space you can define on your own, an unfurnished apartment is always an option.