Today, we have potentially many Condos for Sale Toronto to choose from and several different ways of living. You probably already come across condo living and are wondering ‘Is the condo life for me?’
The fact is that , nearly 1.9 million Canadians live in condo buildings across the country, according to Statistics Canada, and it’s safe to say this figure will likely rise when people willing to purchase their Condos for Sale Toronto in the future. But what’s the perks of living in a condo?
Condo vs Apartment
Firstly, there is one thing need to be clarified. What are the differences between Condos for Sale Toronto and Apartments for sale Toronto?
Living in central Toronto gives you two easy housing options. You’re most likely to choose from the two, Condos for Sale Toronto or apartments. The main difference between living in a condo and an apartment is essentially the ownership.
People tend to think the only difference is the one easily noticeable, which is that Condos for Sale Toronto are more high-end, luxurious and expensive living while apartments are the simpler low-cost version.
However, there are several differences that might also give you a better understanding of life living in Condos for Sale Toronto.
Firstly, comes the ownership which in the case of apartments belongs to the leasing company that leases out those units.On the other hand, you are the sole owner of your separate condo unit. These Condos for Sale Toronto may be low rise buildings, freestanding houses, duplexes or even triplexes and mixed-use with office spaces or storefronts in the buildings.
They could be new units, or apartments and factories turned into condos. At a Condos for Sale Toronto open house, the possibility of seeing all kinds of people is high.You would find first time buyers, investors looking for rental Condos for Sale Toronto, baby boomers who are downsizing and millennials who want their space but with less responsibility.
The beauty of living in Condos for Sale Toronto is that you may own the housing unit, but you share the land, building and common areas with other people. The most important thing is the living and maintenance costs are shared by everyone while the big decisions are made by a board made up of owners or some management.
So, whether you’re a new home buyer or someone looking to downsize, reaching this question simply is the start of a new chapter. To understand this better, we’re going to explore the top 10 advantages when buying Toronto Homes for Sale.
1.No More Extra Maintenance Work
This could easily be the best thing about condo life — the freedom from doing all the extra maintenance work when purchasing their Condos for Sale Toronto.
Most simple maintenance tasks are covered by your condo fees when buying your Condos for Sale Toronto, which are paid monthly to the condo association. All condo associations must also create a reserve fund, which is used for major renovations in the long-term future.
Condos definitely give a better lifestyle to anyone who doesn’t mind the small space. You may be living in the heart of the city, which might be the main reason to buy your Condos for Sale Toronto. You get the magnificent views of the skyline, and there’s no need to commute in traffic anymore to work or miss out on all the exciting action.
The condo provides a lot of different facilities that can cater to all age groups. Some condo developments even have specific groups targeted to cater like young professionals, families or older adults. The high-tech modern interiors of some condo developments are also a huge plus point when purchase your Condos for Sale Toronto.
3.Property Appreciation Value
Depending on your location, there is a huge possibility that Condos for Sale Toronto are much cheaper for you than freehold homes. Mortgage of the house along with the excess maintenance bills living in a condo will feel much financially bearable. It is much cheaper than buying other type of Toronto Homes for Sale, such as house, but it also depends upon the size and locality of the complex.
Also, do not forget Montreal’s in the middle of a condo boom, and the city is dotted with cranes and construction towers. So as in Toronto, the demand for Condos for Sale Toronto has increased over the last decade, and as a result, prices have appreciated generously on a year-to-year basis.
Therefore, Condos for Sale Toronto are significant investments, and you’ll likely make a profit if and when you decide to sell it.
4.Amenities and Facilities That Are World Class
Condos for Sale Toronto and apartments both offer the basic amenities like a gym or play area, but condos have state-of-the-art amenities like pools, hot tubs, saunas, gyms, and common areas for their residents.
These amenities and facilities are some of the best, without you having to worry about the maintenance. Living at a luxurious Condos for Sale Toronto will provide you with all the amenities that one needs.
5.Freedom to Customize Your Space as You Like
The freedom to be able to renovate your space after buying your Condos for Sale Toronto is amazing. Unlike living in apartments or rented out spaces you can do whatever you want with your house. Paint the walls, renovate the kitchen or a room, build something in, hang pictures and tapestry, all of this, without any problem at all.
Many Condos for Sale Toronto owners get amazing space-saving interiors done that not only look superb but are functional as well.
6.Sense of Community
Another major advantage of living in Condos for Sale Toronto is the fact you get to establish a strong sense of community with your neighbours. Most residents will get to know one another during the condo association meetings, and by running into one another in the common areas. It provides an excellent opportunity to socialize and create a network, especially if you’re new to the city.
Since the costs of many things are shared by the condo owners, it is likely that the same people might also form a close-knit community of friends and helpful neighbours.
Most Condos for Sale Toronto today also have a social media group for easier communication among residents who can plan gatherings, share concerns and more.
7.Convenience over extra space
The convenience to travel more, to have smaller easily flexible spaces, to have more time to yourself all this sound super nice doesn’t it? Most of it can be achieved through buying Condos for Sale Toronto.
Imagine having the best amenities some footsteps away from your door. Imagine having a space that doesn’t take too long to clean nor costs a fortune to maintain.
Living Condos for Sale Toronto is a convenience at its best and if a little space is a price we have to pay, so be it. Also, a lot of Condos for Sale Toronto developments offer storage spaces too for all those once a year hobbies you might have.
8.Price and Costs of Living
Depending on your location, there is a huge possibility that Condos for Sale Toronto are much cheaper for you than a freehold home.Mortgage of the house along with the excess maintenance bills living in Condos for Sale Toronto will feel much financially bearable.
It is much cheaper than buying a house but it also depends upon the size and locality of the complex. Absolutely, the property values of a neighbourhood surely affect the prices of your Condos for Sale Toronto.
9.The Major Expenses Are Shared by Homeowners
Legally a small amount of money, from the condo fees goes into a reserve fund. If you’re living in a well-managed Condos for Sale Toronto, most of the major repair work like roofing, replacing windows or doors are covered under this reserve.
In case the fund is falling short you don’t have to bear any expenses alone.The cost of any work will be divided amongst owners after a careful assessment of the situation. This is one of the best perks of living in Condos for Sale Toronto.
10.Safety and Security are Assured
A young professional working long hour or a frequent traveler will obviously have questions regarding the security. Most marketers point out that Condos for Sale Toronto are much safer than a standalone house or a rented space.
Living in Condos for Sale Toronto, you have absolutely nothing to worry about. Most of the developments have state of the art security cameras installed. Some developments offer separate doors and a doorman too.
With so many neighbours in the building, it’s hard to feel unsafe in Condos for Sale Toronto.
At Last but Not Least
This list alone should have convinced you for the life in Condos for Sale Toronto. However, opting for a condo is a no brainer. It is obviously a great choice if you’re downsizing or you simply travel a lot.
Kids grow and leave home, managing a larger property becomes hard, your job keeps you traveling, you like to travel, you want a simpler lifestyle, budgeting is becoming extremely stressful there are a million reasons why someone would look into the Condos for Sale Toronto.
And honestly, it will be the best decision you make. Convenience and peace of mind should be more important than some extra space. Your monthly condo fees and the shared building costs make it very easy to follow a budget every month.
Moreover, a smaller space also means the chance to simplify your life in Condos for Sale Toronto.