Since most condominiums and apartment buildings in Toronto have parking options for residents and visitors, municipal parking permits are usually only a concern for those living in houses.
Parking is one of those hidden headaches for houseowners, and first-time home buyers often overlook its importance. I always tell my clients to get dedicated front pad parking if they can. Even if you don't need it right now, you should plan ahead like you will need it.
A mutual driveway means the parking is shared between you and your neighbour. Therefore, you'll probably still need to get a street parking permit, because you will not have exclusive use of the driveway; for example, you may only be able to use the driveway half of the time. Furthermore, complications can arise if your neighbour wants to use the driveway to park their car at the back of their property and does not want their access blocked.
In most neighbourhoods, there is usually a waitlist for street parking, so I recommend you apply as soon as possible.
Even if you have a dedicated driveway or frontpad parking, or pay for an individual parking spot, it's important to know the guidelines for parking on city streets. To learn everything you'll ever need to know about Toronto residential parking, visit:
https://www.toronto.ca/services-payments/streets-parking-transportation/applying-for-a-parking-permit
