Condo Market : Is A Condo Right For You And Your Family?

Condominiums across Toronto and the Greater Toronto Area offer something for everyone, including families!It takes a community to raise a child, and more parents are realizing that condominiums are in essence vertical communities where people get to know their neighbours in the hallways, elevators and shared amenity spaces. To accommodate this fairly new market, condo developers are including two-bedroom + den and three-bedroom designs into their suite mix. The City of Toronto now requires them to include a certain percentage of these suites, which makes a lot of sense. The demand is strong from busy professionals who want more leisure time to enjoy their children, to immigrant families who are accustomed to living in high-rise buildings.Young urban families and couples with older children alike find living in a condo in the GTA convenient. Once the preferred choice of empty-nesters moving from large homes, the most spacious condo suites today are within the financial reach of average buyers raising kids. This is especially true with the average detached home prices at an all-time high. Condos offer the opportunity to build equity over time – and a whole lot more.For one thing, today’s condominiums are graced with family friendly amenities, from fitness facilities to games rooms, theatres, party rooms, pools and rooftop barbecue terraces. Some condos even feature daycare facilities. And best of all, the maintenance, cleaning and repair of these areas is done through the condominium board of directors. With this and exterior maintenance being taken care of, parents truly do have more time to spend with their children. Remember, too, that the condominium lifestyle includes the peace-of-mind of built-in security measures, beginning with concierge service. Someone is always in the lobby observing passers-by and people coming into and leaving the building. Every condominium has its own set of security features, and they differ from building to building, so compare apples and apples when you shop for a suite.And how about location, location, location? Across the GTA, condos are being built close to local amenities and public transportation access. In Toronto, this means those who work downtown can also live there. We are even seeing young families from the suburbs opting for condo life in the city, because it eliminates long commutes. The GTA and the City of Toronto are home to incredible amenities and attractions for residents of all ages, such as gorgeous parks, excellent schools, eclectic restaurants, sports and entertainment venues, galleries, museums … the list goes on. Older children can walk or use public transit to explore on their own, giving them more freedom than they may have in the suburbs. You will even find condos that include retail and services on the ground floor, for the epitome of convenience.And let’s talk extended families! At Baker Real Estate Incorporated, we see a lot of family members purchasing separate suites in the same building. This enables parents, children, grandchildren and other relatives to live close to each other while still enjoying privacy.The condominium as a family lifestyle choice? I say BRAVO!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