Is Condo Living The Right Choice For You?

Condo living is on the rise. Just drive into Toronto, or even downtown Burlington, and you’ll notice the landscape has drastically changed. More high-rise condominiums are being built throughout Canada as there is an increasing demand for homes requiring little maintenance.  With the rising cost of single family homes along with longer work days, the turn-key advantage that condos offer are attracting many of the millennial generation who are now entering the property market.

There are many types of condo buildings with a wide range of amenities to suit various interests and lifestyles.

Here are four steps to follow in finding the right condo for you…

1. Think Ahead

It is often said that life changes every 3 years. If you are buying the condo as a young, single professional, that is fantastic, but try to look a few years ahead and see where you want your life to go. Look at what is being built around your condo. Are there other towers going up? What is the parking situation? Are there parks, schools, grocery stores nearby?

2. What does the building offer?

Does having a fitness facility on site matter to you? Would you like to have a security/ concierge service? Are you keen on having access to a pool or outdoor rooftop area? What type of view are you after? Would you like to have a balcony? Ensuite laundry? Underground parking?

3. Investigate nearby Amenities

Do you have access to transit? What shopping centres are nearby? Do you require the amenities to be within walking distance? What is your proximity to the major roads that get you into and out of the city? Even if these factors are not overly important to you, think of them in terms of resale value for the next buyer. Also consider the neighbourhood and locations in which you are looking. How much do the different areas and buildings vary in price?

4. Cost and Value

As much as we can never guarantee if a property will increase, looking at market value and the history of similar condos in the area, and what they sold for is a good idea. ?Knowing your budget ahead of time will help you determine what you can afford and what price range you should be looking at. Your budget will also help narrow the list of what you’d like to have and what you can realistically afford. Staying within your budget and having the ability to negotiate on price are things we help our clients with all the time to help them get the home of their dreams.

Whether you are looking at buying a condo in Toronto, Burlington, Hamilton, or anywhere else in the GTA, we would love to help you! Call us today to see how we can help you find the condo of your dreams! 

Our team of real estate sales professionals is committed to finding you, your dream home. Whether you’re looking to buy or sell, the Karen Paul team is here to help with any questions.