Owning your own property is the dream for many people — but with ever-increasing housing prices, this dream can sometimes feel painfully out of reach. However, you don’t need to limit your search to a traditional home with a large yard. Buying a condo has several distinct advantages that could make it the best choice for your lifestyle. Here’s a closer look at some of the top benefits of buying a condo.
1. Lower Prices
Though property values will always vary depending on your local cost of living, condos are typically available for a lower price than other property options. For example, condos in West Island are not that expensive in comparison to a standard single-family home — or even a townhouse.
Though condo owners also often have to pay monthly association fees, the overall expenses for a down payment or mortgage payment tend to be much lower than other types of housing. This makes it easier for buyers to get into a property that is truly their own — and one that will appreciate in value in the years to come.
2. Fewer Maintenance Worries
When you live in a condo, there’s no grass to mow or snow to shovel. Instead, the condominium association will take care of all outdoor maintenance, giving you more time to enjoy for yourself. This can be especially valuable for those who work late hours or endure lengthy commutes. After all, you don’t want to spend your weekends and evenings doing yard work!
Though you’ll likely still need to take care of indoor maintenance tasks from time to time, condo living ensures you’ll have more opportunities to relax and unwind, or focus on hobbies or other responsibilities.
3. Social Opportunities
Condos tend to be geared toward those with an active social life. While you might rarely venture outside your own yard in a traditional residential neighborhood, condo communities typically feature amenities like a swimming pool, lounge, or fitness center. Such features can serve as great motivation to get outside or meet your neighbours — whom you’ll likely see in the lobby or elevator, as well!
Better still, many condos tend to be conveniently located to public transportation, parks, and shopping and dining experiences. With easy access to these local attractions, you’ll have plenty of opportunities to go out and socialize.
Though condo living may not be for everyone, it clearly has distinct advantages over traditional home-buying. If you want to find a low-maintenance property to match your fast-paced lifestyle, you can’t go wrong with looking into local condo options.