Deciding what type of property to purchase or rent is a decision that shouldn’t be taken lightly. There was a time when everyone wanted a large house with a garden, however in Toronto condos are gaining popularity at a rapid rate, and it's easy to see why.
Whilst there are pros and cons to all types of home, more and more Torontonians are realizing how easy and enjoyable their lives can be in a condominium. Here are the top five reasons why living in a condo is the best.
With the rapidly rising cost of both renting and buying properties, Torontonians are looking for cheaper price tags.
The difference between the cost of condominiums and single-family housing is huge, with condos offering a significantly more affordable option.
Not only will residents save money on the rent or mortgage, but often condos are in more urban areas, allowing inhabitants to save money on commuting.
Expensive repairs are also paid for by the reserve fund, so although owners pay condo fees, many people prefer this to having to spend several thousands of dollars in one go.
For many people who want to live in downtown Toronto, condos are the only option, as there are very few houses and they are not affordable. Condo dwellers love living in the city, with everything they need, from shops to schools to restaurants right on their doorstep.
For many people this means that they don't even need a car, saving them even more money. The convenient locations also allow residents to save time and money on commuting, which they can spend with their families instead.
Condos require significantly less maintenance from their owners compared to houses. Condo dwellers enjoy not having to worry about jobs such as shoveling snow, mowing the lawn, or finding and hiring companies to carry out repairs.
This leaves them with much more time to enjoy their life, and fewer things to worry about.
Condo amenities can be anything from swimming pools, sports courts and fitness suites to playrooms, party rooms, and terraces, to a concierge and valet. To install these amenities into a house would be extremely expensive.
Many condo dwellers see the common areas as an extension of their unit, making up for their smaller home. Condo amenities are there to make residents' lives easier and more luxurious, with everything you need right here in the building.
Safety and security
With features such as secure entrances, CCTV cameras, 24-hour concierges, intercoms, and plenty of surrounding neighbors, many people feel much safer in a condo than they ever could in a house. (Click here for an example of a safe condo)
For protective parents, people who travel a lot, and those who work long hours, this is ideal. For many condo dwellers, the reassurance that their property and family are safe is something
that you just can’t put a price on, allowing them to sleep easier with one less thing to worry about.