Condo ownership is the real deal in most urban centers across Canada. The real estate has seen a rapid shift in property preferences from single-family homes to condo living. With close to 2 million Canadians living in condominiums, you can be sure that condos offer a range of perks. The affordable nature of these units has played a significant role in their popularity, but there are many other reasons for condominiums’ rising demand.
Despite their small-size nature, condos are strategically located. Proximity to essential amenities is worth trade-off with their smaller size. Thanks to the urban sprawl, condos are also coming up in suburban locations close to transit hubs, shopping centers, and schools, which makes them a decent alternative to single-family homes. Thus, if you need to live in or close to a city like Toronto, Condos are the way to go.
Low Maintenance Costs
Another reason condo living could be the right decision is the fact that you do not have to spend a lot of time or money. Things like mowing the grass, repairing plumbing fixtures, and security costs are shared among the residents of the building. This means that you only need to pay the association fees and avoid worrying about anything else. Repairs and maintenance costs are always taken care of by the management.
Another good reason to live in a condominium is that you get an opportunity to enjoy extra amenities. Some of the most common facilities in these properties include swimming pools, gyms, party rooms, courts, and additional playing features. These features allow you to lead a comfortable and healthy life. In most cases, residents are not expected to pay anything to enjoy these services.
Condos are known to be very secure. The fact that you have many neighbors serves as a deterrent to suspicious activities. Also, the management is tasked with the responsibility of installing security cameras and ensure that guards are manning the property. If you are always on the move, a condo can be a better alternative as far as security is concerned.
Buying a condo is an urban center can be a great investment opportunity. You can always rent it out and use the money generated to settle the mortgage. Also, holding the property over a long time can be highly rewarding considering that property prices in most urban centers are always increasing.
If condo ownership sounds appealing, you can start looking for suitable property.