Newcomers to Canada and international students know what a roommate is, but what about a housemate?
While roommates might be equal (and often uneasy) partners in an expensive and usually overpriced rental, a housemate is different. As a housemate, you rent a room in a shared residence and live with the homeowner and possibly other housemates.
Advertisement:
The owner is the host, who benefits from “home-sharing” by renting out a room in their home. This also helps to pay their mortgage or lower living costs.
Housemates Pay Less to Rent
Advertisement:
Housemates can find more affordable rooms in desirable locations like Toronto through home-sharing.
How much more affordable?
According to Rentals.ca’s National Rent report, the asking rent for a one-bedroom apartment in Toronto in February was $2,495.
That same report showed that Vancouver’s average asking rent for shared accommodations (roommates) was $1,406 per person, and Toronto’s was $1,280 per person.
Also, the average asking rent for shared accommodations nationally increased by 12 percent annually.
Advertisement:
According to Sparrow, a company that matches potential housemates with homeowner hosts, the average Sparrow room rental costs $875/month.
That’s a significant savings.
The competition for rental housing in Canada remains fierce. Vacancy rates in most large and medium-sized cities are 1.5 percent. A three percent vacancy rate is suitable for renters, while a rate of less than 2 percent drives rental prices up.
Related Posts:
Sharing Accommodation in Canada as a Newcomer
Tips for Housemates for a Great Living Experience
What is the Cost of Accommodation in Canada
Accommodation in Canada & Options for Newcomers
Rent Prices Continue to Climb
Rental prices are predicted to climb as Canada welcomes 485,000 newcomers in 2024 and 500,000 in 2025 (those figures do not include international students or temporary foreign workers).
According to Sparrow, there are 12 million empty bedrooms across Canada, including 5 million in Ontario.
Other Benefits of Becoming a Housemate
In addition to the cheaper rent price, there are other benefits to being a housemate as opposed to a roommate:
- Homesharing platforms like Sparrow ensure homeowner/housemate matches are based on compatibility and shared living preferences. The roommate experience, on the other hand, tends to be haphazard.
- Housemates can often negotiate rent discounts by doing household tasks for the homeowner.
- Monthly living expenses are lower when renting a room via home-sharing as housemates share costs for utilities, internet, etc.)
- Homesharing can often place you in desirable residential neighbourhoods that rental unit roommates can’t access.
- For newcomers to Canada and international students, becoming a housemate can give you an instant community to help with your transition (and you might also make a lifelong friend in the homeowner).
- Homesharing platforms such as Sparrow screen and match the housemate and the homeowner, offering a level of safety and security unavailable to roommates. Their profile verification includes background checks and interviews to create trust and peace of mind for hosts and housemates.
- Housemates can rent for two months or longer, depending on their needs. However, roommates are often locked into one-year leases.
- It’s FREE to register to become a housemate. The homeowner pays the home-sharing platform for their services.
Becoming a housemate can offer a much different experience than being a roommate, and cheaper rent. It provides a strategic alternative for newcomers to Canada seeking an affordable first home in Canada that provides affordability, safety, security, and community.
Steve Tustin is the Editor for Rentals for Newcomers and a contributing editor for Prepare for Canada. He is also the former managing editor of Storeys.com and a former senior editor at the Globe and Mail and the Toronto Star.
*Prepare for Canada did not use AI-generated content in writing this story; all sources are cited and credited where possible.
© Prepare for Canada 2024
