Mobile Homes: An Affordable Solution to Toronto’s Rising Cost of Living

With the rising cost of living in Canada’s largest urban centers, it’s no wonder that more and more people – especially young people, are finding more affordable solutions when it comes to where they sleep, eat, and live. A recent trend is the migration of young people into more affordable municipalities outside of Toronto, opting instead for more affordable living situations, and even going so far as to living in mobile homes.

 

Rent is one of the biggest expenses young people face, with the average rent in Toronto adding up to just over $2,000 per month for a one-bedroom apartment.

 

 A study conducted by LowestRates.ca found that a single person in Toronto needs at minimum a salary of $49,545 (before tax) in order to live comfortably in the city.

Many young people are looking to put down roots farther out in more economical cities like Guelph, Oshawa, East Gwillimbury, and even Barrie. Making the transition from renting to becoming a home owner is not an easy feat. For those looking for more land than house, trailer homes might just be the solution you didn’t know you were looking for.

 

The Advantages of Purchasing a Mobile Home

 

• The choice to purchase a trailer home allows for millennials to realize their dreams of home ownership much quicker than opting for a stick built home. The cost of mobile houses is less per square foot than your conventional bricks and mortar home.
• Mobile homes also offer more flexibility when it comes to your living quarters. If you’re looking to save up for a stick-built home in the future, you could select a trailer home as a semi-permanent solution until you make the decision to finance the build
• Due to the size and cost-effectiveness of opting for a trailer home, you also have the ability to tailor your home’s finishes to your liking. Whether it be renovating parts of your home or building from scratch, your money will stretch farther when it comes to outfitting your trailer home than it will in your conventional stick-built home.

 

A Few Final Thoughts

 

While living in a mobile home might not be where you envisioned yourself in the long term – it does serve as a more economical solution to the rising cost of living in large urban centers like Toronto. Moreover, there is an entire movement dedicated to the lifestyle living in small quarters offers. Check out our previous blog Compare and Contrast: Mobile Trailers Vs. Tiny Homes to learn more about the Tiny House Movement.