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Pros and cons of renting in Oakville

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A woman writing down the pros and cons of renting in Oakville

When you’re moving to a new place in Oakville you’ll have to think many things through. You’re choosing a roof over your head but also selecting a lifestyle, a community, and potentially a long-term commitment. To help you decide with more insights, we made a detailed guide on all the pros and cons of renting in Oakville.  But let’s not forget, relocating is a significant endeavor whether you decide to rent or buy. That’s where the expertise of moving companies Ontario comes into play. Their specialized services can make the process far less daunting, allowing you to focus on settling into your new home. So, read on to discover if renting in Oakville aligns with your life goals and how professional movers can simplify your transition!

The upsides of renting in Oakville

Before diving into the specifics, let’s explore the many positive aspects that make Oakville desirable. From its scenic beauty to its strong sense of community, Oakville offers a variety of features that contribute to a high quality of life. Whether you’re a young professional, a growing family, or someone looking to enjoy their retirement years, Oakville has something for everyone. That being said, here are just some reasons why Oakville is a popular place to live:

Oakville is known for beautiful nature, which offers opportunities for various outdoor activities

Oakville, located on the shores of Lake Ontario, is famous for its waterfront parks with stunning views of the lake. One of the most popular ones is the Bronte Heritage Waterfront Park, where locals often spend hours just enjoying the scenery. However, for those who prefer a more active lifestyle, Oakville also provides a variety of ways to stay engaged. For example, you could bike, hike, or rollerblade along 200 km of trails and paths available in the Oakville wider area. During the summer, you could swim at several local pools and two beaches or play at splach pads popular among younger residents. Alternatively, you could also take advantage of Oakville’s 17-kilometer shoreline and go boating or sport fishing.

A child playing at the beach in Oakville
When considering the pros and cons of renting in Oakville, take into account the fact that the city has two beautiful beaches to enjoy during the summer.

There are mixed housing options availiable

Oakville offers a variety of housing options to fit all sorts of lifestyles, from modern apartments to spacious detached homes. However, it’s important to consider costs, as Oakville’s upscale reputation is reflected in its real estate prices. As of September 2023, the median list price for homes in the city was $1,729,065. Therefore, this high cost makes renting a practical choice for many, especially those not ready for a long-term property investment. If you make this choice, local furniture movers Oakville residents trust can help ease the transition. 

Public transit and proximity to Toronto enhance Oakville’s appeal

Oakville’s strategic location near Toronto and its efficient public transit system make it a compelling choice for both residents and businesses. The city offers a quieter, suburban lifestyle while still being close enough to Toronto for feasible commuting. On the business front, Oakville’s efficient public transit is frequently cited by office movers as a perk for companies contemplating a move to the area. If a corporate relocation is on the horizon, Oakville office movers can help ensure a smooth transition, allowing your team to quickly start enjoying everything Oakville has to offer.

High quality of life in Oakville

Oakville offers a comprehensive package when it comes to quality of life, making it an attractive destination for newcomers. Families are drawn to the city’s excellent education system, which boasts top-rated schools such as Oakville Trafalgar High School. Adding to the sense of well-being is Oakville’s reputation for safety, as it has one of the region’s lowest crime rates (55% lower than the national average).

footage from the lush park near the Ontario Lake
The pros and cons of renting in Oakville include a high quality of life, with numerous parks and close proximity to Lake Ontario for outdoor activities.

Daily life is further enhanced by a variety of shopping centers, malls, and restaurants that cater to different tastes and needs. From high-end boutiques to essential services, you’ll find what you’re looking for. Healthcare is another strong suit, with respectable facilities and hospitals like Oakville Trafalgar Memorial Hospital, providing the best care for residents’ medical needs. All these factors contribute to the high quality of life in Oakville, making it a compelling choice for those looking to rent in a community that offers a bit of everything. 

The challenges of renting in Oakville

While Oakville offers a plethora of benefits, it’s essential to consider the challenges as well. The city’s higher cost of living and competitive rental market can be a hurdle for some people. Additionally, aspects like traffic congestion and local regulations can impact your overall experience. Let’s take a closer look at these challenges to help you make a well-rounded decision.

Financial and market considerations

Still, when considering the pros and cons of renting in Oakville, it’s crucial to factor in the financial and market dynamics that could impact your decision. Here are some key points to keep in mind:

  • Cost of Living: Oakville is popular for its luxurious lifestyle, which comes at a high cost of living. Rent prices can be higher than the national average reaching $2,624, which can notably affect your monthly budget.
  • Competitive Market: The city’s high demand for housing makes the rental market competitive. This can result in limited availability and make searching for the perfect place more challenging. The rental market in Oakville is dynamic and can change over time. Rent prices may fluctuate, requiring you to be flexible and well-informed. 
  • Property Taxes: Landlords usually incorporate property tax costs into your rent, even though you don’t pay these taxes directly as a renter. Oakville’s property taxes are relatively high (0.76% in 2023) adding to the overall cost of living.
    • Commuting Costs: If you’re working in Toronto, commuting expenses can add up. When calculating your budget, you should factor in the necessary time and money for your daily commute. If a move to Toronto becomes more financially sensible, condo movers Toronto locals hire most often can assist with the relocation.

    Legal and regulatory aspects

    Navigating the rental market in Oakville also means understanding local laws and regulations. From rent control policies to tenant rights, Oakville has specific rules that can impact your renting experience. For instance, some areas might have zoning laws that limit the types of rentals available. Inform yourself about Oakville’s rental laws and regulations to avoid challenges and make informed decisions.

    Weather and enviroinment

    While Oakville’s natural beauty is a draw for many, the city’s weather can pose challenges for renters. Winters here can be harsh with temperatures often being from -8°C to 1°C, with snow and ice affecting travel and daily routines. Additionally, the city’s proximity to Lake Ontario means it can experience higher levels of humidity, which might not be comfortable for everyone. These environmental factors are worth considering when weighing the pros and cons of renting in Oakville.

    Making your move to Oakville

    After exploring the pros and cons of renting in Oakville, the next step is the actual move. The professional services our company provides can simplify this process. Our Oakville professional movers offer specialized services to secure a flawless moving experience. These logistical considerations are the final touch in your decision-making process, helping you move forward with greater assurance!