Advantages of Owning a Condo!
When it comes to home ownership, a condo is an option that many Canadians gravitate towards. There are multiple advantages to owning a condo. Condo's can be low-rise buildings, townhouses, freestanding houses, duplexes, triplexes or "mixed use" buildings, such as condos above offices or store fronts.
What makes condos different from freehold houses is that you own your unit but you also share ownership of the level, building and common areas. You share costs with fellow members of your condo association and the board of directors or a property management company makes the big decisions. Here are some advantages of living in a Condo
Someone Else Handles The Outside Work
One of the biggest advantages of Condo ownership is freedom from maintenance you don't have the time, desire or ability to tackle. Examples of such are shovelling snow, mowing the lawn or repairing outside structures. Monthly Condo fees cover these securities.
Many Major Costs Are Shared:
A portion of the Condo fees goes into a reserve fund. When the property is well managed, this fund covers major repairs like replacing windows and roofing without aded costs to the owners. Even when the reserve fuel falls short, you're not in it alone as a speed assessment will be done and costs will be shared equally among ownres
If you prefer to live on one floor or in a one-or-two bedroom home, condos allow you to own your own space rather than rent. Common areas like pools and rec rooms offer means to socialize with other people. Many condo developments cater to specific groups- like young professionals, families and other adults.
Some Condos offer benefits you won't see in the average home or apartment building like a theatre room, gym, swimming pool and party room.
Depending on where you live, some condos are more affordable than owning a freehold home. Furthermore, a mortgage plus condo fees may be equivalent to rent
If you're craving a prime spot in a major city, like Downtown Toronto, Condo's may be the only practical option. What you lose in space and higher condo fees, you gain with easy access to work, dining, activities, public transpotation and other amenities.
Markets say Condos offer greater security than a freehold home or renting. People are more likely to take better ccare of property they own, and some buildings offer a secure entrance or doorman. You might feel safer with neighbours on either side of your unit.
Speaking of condos! Take a look at this beautiful 3 Bedroom, 2 Washroom Condo justl listed at 80 Inverlochy Boulevard! This Beautiful freshly painted unit features laminate flooring in the living room. It also features a new full size wahser and dryer! Want to enjoy the beautiful weather? The unit has a walkout to a patio, where you can enjoy the artistic garden like scenery it's exposed too! It also has a spacious stoarge for all your belongings. Not in the mood to drive? All your needs are walking distance from you! In a few short minutes, you can walk to Yonge Street, TD Bank, Food Basics, Shopppers Drug Mart, TTC , YRT, VIVA and Go Transit! If you're in the mood to drive, an underground parking spot is waiting for your car to park up whenever you want with no worries of taking snow off during the ugly winter days or the heatness in the hot summer ones!