The perks of condo living
Over the years, condominiums have become the new home choice of people of all ages and walks of life. And why not? Decades ago, empty nesters and retirees discovered the benefits of selling their large lowrise homes and opting for a more carefree lifestyle. They were (and still are) happy to leave behind outdoor maintenance and total reliance on a vehicle to take them to run errands, access recreational venues and other activities. With amenities right in their building, convenience was a daily nicety. And with today’s condos situated close to local amenities such as shopping, entertainment venues, restaurants and the like, an outing is usually just a quick stroll, bus or subway ride away.
Nowadays, condos have come a long way, and the assortment and quality of condo amenities are topnotch. It is a luxury to host large gatherings in the party/multi-use room without affecting your private suite. Rooftop barbecues make it possible to dine al fresco while taking in spectacular city or lake views. Exercising regularly is appealing, with a beautiful and professionally equipped fitness facility in the building.
In addition, today’s young professionals and families are stressed to the max with hectic lifestyles, so condos have become a popular choice for them as well. Leaving exterior and shared spaces cleaning, upkeep and repairs to someone else frees up precious time for leisure activities and family. Yes, residents pay a monthly maintenance fee, but keep in mind that the services those fees cover protect suite owners’ privacy, safety and investment.
Even the opportunity to own a new condo is appealing, as lowrise homes are out of the financial reach of many would-be buyers. Price is a major motivating factor for buying a new condo, regardless of age or life circumstances. The potential for earning a substantial return-on-investment is also a bonus.
Lifestyle is also a key factor in the decision to go condo, and the benefits go beyond the convenience of having wonderful amenities just an elevator ride away. The peace-of-mind that comes from knowing you have built-in security aspects from strategically placed cameras to the eyes-on-the-street of concierge service is priceless.
Remember, too, that a condominium is a vertical community in which neighbours get to know each other in the lobby, hallways, elevators and amenity spaces on a daily basis. The beauty of this arrangement is that if something is amiss, likely someone will notice it. Condo residents tend to look out for each other, even more so than in lowrise communities, where neighbours may not see each other for long periods of time.
Another appealing aspect of condo living is being able to go away on business trips or holidays without worrying about the upkeep and security of your home. If you have not yet invested in a condominium suite for your own life, or as an investment, 2020 is the year to do it, while interest rates are still at remarkably low rates. You’ll be glad you did!
Barbara Lawlor is president and CEO of Baker Real Estate Inc., winner of the pinnacle 2017 Riley Brethour Award from BILD, and an indemand 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