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WHY BUY A CONDO: ADVICE FOR HOMEBUYERS

Buying your first home is a big milestone and something nearly everyone dreams about. But getting your foot in the door of the real estate market can be a little scary. It’s important to be aware of affordability and getting the most out of your investment. This is why condos have become a great choice for many first-time homeowners. Beyond finances, condo living has a lot of other advantages for social, active, young adults. Read on to find out some of the key reasons more and more people are choosing condos.

  1. Community – For social butterflies, the condo community is a hub of like-minded individuals in similar phases of their lives. This dynamic makes condo living a perfect place to develop your support network or even a group of friends. We’re not the only ones who have caught onto the strong potential for community in a condominium—Hollywood’s in on it too. Some of the most famous sitcoms are built on the premise of friends who meet in a condo. Leonard and Sheldon in the Big Bang Theory become friends with Penny because she lives across the hall. Monica from FRIENDS hosts events at her apartment almost every night, given how close she lives to Chandler and Joey. And let’s not forget the hilarious Kramer popping into Jerry’s apartment on Seinfeld for constant comedic relief.
  2. Accessibility – Living within or in close proximity to the city gives you access to great jobs, restaurants, shopping, and nightlife. However, the high demand for city housing makes owning a detached home too expensive for most. Condos make the city dream a reality, since they are more affordable than most semi and detached houses. You may sacrifice a little on space, but you’re gaining a prime location.
  3. Security – Most homeowners have to rely on neighbours and relatives to watch their place when they go away. Condo owners have built in security, trained and dedicated to protecting their place. This makes vacations and short term work travel a no-brainer. It also makes coming home from a late night a lot more comforting.
  4. Less Maintenance – First time buyers are often overwhelmed by maintaining a full house. Condos simplify the number of tasks on your plate by managing outdoor space and utilities servicing for you. As a condo owner, you don’t have to mow the lawn or find time to shovel snow during the winter. You also don’t have to schedule maintenance for electrical or water. So enjoy your weekends, sleep-ins, and the peace of mind that comes from having experts take care of your place.
  5. Amenities – Add convenience and space to condo living. Fitness facilities like a gym and pool mean you never have to leave the building to exercise. For those who are serious about their workouts, a three minute commute down the elevator is a blessing. For those who only frequent the gym before beach season, having a place to go in the building makes working out realistic because it is more cost effective than paying for a membership. Entertainment facilities, on the other hand, add an element of luxury to your daily life. Condo residents who want to host guests can book party rooms, lounges, private dining facilities, and rooftop terraces. Pretty suite, right?

If these features sound appealing to you, you’re not alone. According to the 2011 National Housing Survey, 1 in 5 young adults across Canada lives in a Condo. That number includes every province—even the largely rural ones. So, if you’re thinking about joining the condo movement, the time is now. With the convenience of everyday luxuries, you won’t regret it.

 

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