Pros and Cons of Different Rental Options

When you are getting started looking for housing its a good idea to keep an open mind about what type of housing arrangement might best meet your needs AND fit your budget. Even if you are convinced you HAVE to live alone, it’s a good idea to consider all your options. There might be some other students out there who would be great roommates for you and who you can share expenses with. Take a look at the some of the pros and cons of different types of rentals to learn more about your options. 

Living with roommates 

Pros 

• People to share meals with and hang out with and to go out with and see the city 
• Sharing the cost of rent, furniture, electricity, internet and other utilities 
• Possibility of sharing household chores  

Cons 

• Managing possible personality conflicts and different styles of living can be challenging 
• Setting up an apartment with utilities, furniture and possibly appliances is an extra expense 
• Less privacy, especially in shared apartment spaces 

Living alone 

Pros 

• Independence 
• Plenty of privacy 
• Control over your own space 

Cons 

• Setting up an apartment with utilities, furniture and possibly appliances is an extra expense 
• You are the entirely for managing the apartment, the furniture and the utilities  
• Risk of isolation (especially during pandemic) 

Living in a school residence 

Pros  

• On-campus with other students to share meals with and hang out with and to go out with and see the city 
• Furniture and utilities included in monthly rent, no surprise expenses 
• Meal Plan is required (if you’ve never had to cook for yourself) 

Cons 

• Lack of privacy especially if sharing a room, possibly sharing washroom, kitchenette and common room 
• Little to no control over shared spaces and environment, neighbors may be loud 
• Food plan is required, you may or may not have access to a full kitchen in your building, making preparing your own food challenging and is an additional expense 

Living in a private student residence 

Pros  

• People to share meals with, hang out with and to go out with and see the city 
• Furniture, utilities and in-building amenities are included in cost of rent 
• Meal plan is convenient especially if you’ve never had to cook for yourself 

Cons 

• Lack of Privacy especially if sharing a room, possibly sharing washroom, kitchenette and common room 
• You may not have access to a kitchen, making preparing your own food challenging and is an additional expense 
• High density building possibly with non-students 

Living with a family 

Pros 

• Furniture and utilities included in the cost of rent 
• Familial & social environment possibly with meals included 
• People to share meals with and spend time with  

Cons 

• Living in someone else’s home following someone else’s routines and house rules 
• You may need to clear having guests over and parties likely aren’t possible 
• Sharing the use of a kitchen and washroom with a family may be challenging 

Living in a Student Cooperative 

Pros 

• Apartments located in central, vibrant student friendly neighborhood  
• Students to share meals with, hang out with and to go out with and see the city 
• Utilities and appliances included in cost of rent 

Cons  

• Unfurnished, buying furniture is an additional expense 
• Building may be loud at times- you share some common spaces with other students 
• If you have roommates- managing possible personality conflicts and different styles of living can be challenging