For students, just one of the major decisions to make when you get accepted to university is where to live: In student housing, or in an off-campus apartment.
Which is better?
Obviously, there are pros and cons to each. So we broke down the costs, drawbacks and benefits to each options so you can decide what’s best for you.
Student Housing/Residence
Cost: $2,000/month, including a meal plan and utilities
*about $16,000 for the 8-month school term at U of T
Pros:
- close to class
- surrounded by fellow students
- parties
- meal plan = no cooking
- no apartment hunting required
Cons:
- limited interaction with non-students
- you’re always at school
- parties
- no kitchen = no cooking
- 8 months only. If you plan to work for the summer, find somewhere else to live
- very small space
- can’t choose your roommate
Renting an Apartment
Cost: $800/month, not including meals or utilities
*sharing a 2-bedroom apartment with a roommate; including meals and utilities, est. $1,240/month
- Internet: $40/month
- Utilities: $100/month
- Groceries: $300/month
Pros:
- choose your location in a neighbourhood you like
- meet your neighbours
- have your own food, ability to cook and eat healthy
- 12-month lease, great if you’re staying for the summer
- choose your roommate
- choose what you pay for rent
Cons:
- buying groceries, cooking
- apartment hunting
- travel to get to class
- fluctuating cost of utilities
Deciding between student residence and an apartment? Which would you choose? Add your own considerations in the comments below!