If you’re new to the Regina area – or simply ready for a new home – consider townhouses rentals for your next choice.
Over the last few years finding a townhome seemed impossible. Townhomes were selling so fast to those young families looking to have a combination of the house lifestyle with the reduced purchase prices.
Fortunately things have changed…
And this is the perfect time to be a tenant.
It doesn’t matter if you require two or three (or more) bedrooms or a pet-friendly townhouse, you’ll find a large supply of available properties that will match your unique living needs in Regina.
Benefits of Renting a Townhouse in Regina
Along with most of Canada’s larger metropolitan areas, Regina has experienced a major building boom over the past few years. As a result, there is more supply of housing than there is demand – creating a renter’s market. The Canada Mortgage and Housing Corporation found the rental vacancy rate in Regina in 2016 was 5.5 percent. Compare that to only 1.8 percent in 2013, and you can see how the number of available units has skyrocketed over the past few years.
What Makes Regina Townhouses a Good Choice for Renters
Townhouses in Regina come in all shapes and sizes. You may find a brand new complex designed to look like city row houses, or even an older building with more apartment-style townhomes.
The important thing to remember is you have options. Here are three big reasons you should consider leasing a townhouse in Regina.
1. Renting a Townhouse in Regina May Be Cheaper Than Buying
According to the Royal LePage House Price Survey, the average home in Regina costs slightly more than $325,000. Considering mortgage rates and any additional funds needed for taxes, HOA, repairs, and utilities, homeowners can easily be paying more than $2,000 a month on their housing.
On the other side, renting a townhouse in Regina can be much cheaper. Over the past year, the average three-bedroom townhouse rental in Regina was $1,242. Even after adding in your utilities, you’ll likely be paying several hundred dollars less per month than you would if you owned. Just think about what you and your family could do with that extra cash each month.
2. Luxuries of a House Without the Yard Work
One of the biggest perks of renting a townhouse in Regina is the ability to have a full-sized home without having to worry about as much of the maintenance and yard work required. If your property has a yard, it will likely be very small and you don’t want to spend a lot of your time mowing or weeding. The same goes for shoveling snow in the winter. Your property might just have a small driveway you’d be responsible for maintaining. The sidewalks should be covered by the property management. This means you’ll have more time to enjoy your townhouse rental and some of the best attractions around the Regina area with your family.
3. You Have Options When Renting a Townhouse in Regina
With the number of townhomes available to renters, tenants can be choosier when looking for their next place to live. Looking for a pet-friendly townhouse? You’ll be able to find one. Want to live near the University of Regina? Consider Wascana townhouses. Need a townhome located near good schools or in a neighbourhood with a playground for parks for the kids? The options seem endless right now for the types of townhouses available to renters in Regina.
Now is the Time to Rent Your Townhouse in Regina
There are a number of available townhouses for rent in Regina, but you never know when this trend might change. A dip in the economy could slow construction, and that would bring down the number of vacant units and your rental options.
The bottom line – if you’re looking to explore a new neighbourhood without the commitment of a purchase, or simply trying to save a few bucks each month, renting a townhouse in Regina might be your best move.
Ready to start your townhouse rental search in Regina? Then the experts at Oz Property Management are ready to speak with you! View our available townhouses for rent online, or call us at 306-551-2940 and let us find the rental home of your dreams.
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