Since you’re an international student from another culture altogether, staying on campus will definitely help you a lot. It is always better and convenient than off-campus locations as it’ll save you the hassles of flat hunting, interacting with totally new people.
However, vacancies in hostels are really less and you must apply for residence as soon as possible. So make sure you’ve applied for it as soon as you receive the offer letter. International students are better off staying on-campus at least for the initial period as it saves them a lot of time, effort and money spent on understanding the local areas.
Off-Campus Residence
If you fail to get housed or choose to go for off-campus housing, it has its own perks too.
Foreign students can go for The Buddy Program where you can find a "Buddy" who helps you find a place outside the campus. This is a safe and handy facility offered by McGill itself.
The whole area of Saint-Anne de Bellevue is beautiful, small, quiet and comfortable which is littered with nice restaurants and has reasonable rentals. The lakefront is a major attraction for weekends. Foreign students can explore these options if they want to avoid the hostel limitations or other issues.