Best bets for affordable student housing

One of the most exciting things about student life is moving into a place to call your own. At the same time, finding the right place at the right price can be a stressful task.

Here are some tips to help your collage bound kids to find the right space:

• Do the research: Use online classifieds, like Kijiji.ca or Craigslist, as a starting point. Landlords and renters are constantly posting new ads. In fact, last year, Kijiji saw a nearly six per cent increase, approximately 41,000 ads, from the start of August through to the end of September, so the summer months are still a great time to find something.

• Make a commitment: If you and your child find an amazing spot, grab it. Signing a longer term lease will help you lock down the space and often means getting a better rate from the landlord. While some landlords in areas that are close to schools increase the rental prices as September approaches, signing a longer lease may give you more power when it comes to negotiating rental rate.

• Consider an investment: If you or your family is in the position to purchase a property, it can be a worthy investment. By renting out the additional rooms, you can alleviate some of the financial burden that comes with higher education, while building equity at the same time.

Source: News Canada

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