Condo Market: Top 10 reasons Condominiums offer a Great Lifestyle
However you love to live, today’s condominiums are a great option for a multitude of reasons, especially here in Toronto and the Greater Toronto Area.
Here are the top 10 reasons why so many people (more than one in 10 Ontarians) choose to live in condos.
- LOCATION: Condos are located close to traffic nodes and local amenities. Suite owners can often walk to run errands, dine out, shop or enjoy a night on the town. Some buildings are so well placed that purchasers own vehicles by choice, rather than necessity.
- DESIGN: Spacious is the name of the game, whether you choose a compact studio layout or a sprawling penthouse. Developers are designing to maximize square footage. From glorious open concept spaces to majestic windows, the plans are stunning and functional.
- AMENITIES: The common areas in today’s condos are uncommonly beautiful and useful. They are, in essence, extensions of your living space. From pools to party rooms, fitness facilities, theatres, kids’ play areas and rooftop lounges, the opportunities to exercise, entertain and relax with neighbours are exciting.
- PRICE: Let’s face the fact that when compared to lowrise housing in Toronto and the GTA, condos are the affordable choice. Many developers also offer special incentives. Be sure to ask. And remember, we are still enjoying phenomenally low mortgage interest rates.
- CONVENIENCE: Located close to transit and local shops and services, condos also offer the ability to eliminate expenses such as gym fees, because residents can work out right in their buildings. Many condos even feature retail on the ground floor, making running errands handier than ever.
- SECURITY: From the concierge’s eyes-on-the street services to building security features, condo residents enjoy a level of peace of mind that many lowrise homeowners do not.
- NEIGHBOURS: A condo is a vertical community where you meet and get to know neighbours in the lobby, elevator, hallways and amenity spaces. Condo residents tend to look out for one another and notice when anything is amiss.
- INVESTMENT POTENTIAL: Just look at the way new condominiums continue to increase in price. Plus, in the Toronto and GTA marketplace, rental accommodations are continually in demand. A condo can be a lucrative investment. Renting out your investment is a great idea.
- CHOICE: What’s your fancy — traditional, contemporary, modern? You’ll find all of those styles and more available in today’s buildings. And how about suite designs? The variety of layouts is sure to have something for just about everyone.
- VALUE: Everything is relative. When you compare prices, especially with low-rise homes, remember that a condo is a great buy. Regardless of your suite’s square footage, you enjoy thousands of square footage of amenity spaces. And with today’s world being so frantic and hectic, people are opting for the convenience of the condo lifestyle.
I could go on and on about the benefits of condo living. At Baker Real Estate Incorporated, we hear from our clients’ purchasers all the time how much they love their new digs. A condominium may be the very best lifestyle and financial investment you ever make!
Barbara Lawlor is president and CEO of Baker Real Estate Incorporated and an in-demand columnist and speaker. A member of the Baker team since 1993, she oversees the marketing and sales of condominium developments in the GTA and overseas. Keep current with The Baker Blog at blog.bakerrealestate.com
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