If you are thinking about buying a condo, there are some advantages to consider. Many Torontonians may be unable to afford a house because of financial constraints. The quality of life in a condo is incredible whether you are young, downsizing, moving up, or having a life change.
1. Cost of Living
Condos can be less expensive than homes that require much more maintenance. It would be wise to check a condo's maintenance fees to find out what's included prior to purchasing. You have to pay taxes, but there are no outside expenses and repairs to the exterior of a home. As a bonus, you are free from shovelling snow and mowing the lawn.
Another benefit is access control security and safety resulting from it. Condos usually have a concierge who provide 24 hour security.
When you buy a condo, you want to consider the location and walking amenities. Condos are usually built close to infrastructure in areas with shops, restaurants and parks.
4. Building Amenities
There are many buildings that offer wonderful amenities like a gym, a pool, meeting rooms, guest rooms, games rooms and more. A gym membership may not be necessary and many buildings offer fitness classes and social activities.
For some people, condo living is their ideal lifestyle, owing to its simplicity. You can get new furniture and accessories that suit your personality and the functionality of your space. You can simply paint the walls, put up pictures and do simple renovations for a fresh look. A move like this is exciting since you can purge some things you've never used.
A condo is an investment just like a house. If you buy a condo in a good location with a good view and functional layout on a higher floor, it may appreciate and hold value.
7. Time Away From Home
A big benefit of condo living is that you can leave your condominium for extended periods of time. You can simply lock the door and won’t have to worry about things while you are gone.
A condo provides the space that feels more manageable than a larger home for cleaning and organizing your life.
Of course you should hire a knowledgeable real estate agent that looks beyond the condo unit. Questions he/she would know include management, reputation of the building, reserve fund, special assessments in the past and work they might be planning for the future.