The current state of the housing market in Toronto tells us that condominiums will be strong in 2018 and in the years to come. In a statistic revealed by the Toronto Real Estate Board, the total condominium sales reported in Q3 2018 was 5,781 which is 2% higher than that of the previous year –this can be attributed to a condo’s more affordable pricing compared to buying a new house.
That said, here are 4 signs that might tell you it’s time to start having your own condo.
- Your location matters
Considering that most condos are situated in the heart of a city, it only makes sense that you’ll place emphasis on your condo’s location. After all, it would mean that you’ll have better and easier access to amenities such as restaurants, malls, shops, transportation, and more. If location really matters to you, then it only means that the condo lifestyle is for you.
- Cost and budgeting are your top priorities
Let’s face it. The condominium market is not showing any signs of slowing down in Toronto. In fact, it’s getting even bigger with the passing time! With the hot housing market, real estate prices are expected to soar, making it even harder to obtain your very own house.
On the other hand, investing in a condo is a better alternative – better than a house rental in fact. You also don’t have to worry about having more areas to clean, repairs to make, and more. Although a condo isn’t really that cheap, it’s actually a lot more affordable compared to buying your own house or renting one within the same area.
- You don’t have any problems with downsizing
If you live alone or have a small family, then the condo lifestyle might just suit you. With a condo, you’ll have a more space-efficient living space without having to pay for those extra space you don’t even use. It also means that with a smaller and somewhat limited space, you’ll have less cleaning and maintenance required with less furniture to buy, which in turn can mean more savings!
- You prefer convenience
Although settling on a condo lifestyle means giving up space, it also means gaining access to a simplified and convenient life. Since condos have changed the way most people live with the help of several accessible amenities, living in a condo would mean added convenience. You’ll gain access to a lot of perks without the need to maintain any of them.
Also, with the convenience of a smaller living space, you’ll probably live a less hectic lifestyle. But of course, these perks are paid through your monthly fees, but the convenience you can get is actually worth it.
Ready for your condo lifestyle?
With the condominium craze taking over Toronto, it’s no longer surprising to find a number of new condo buildings, with a lot of them currently under development. It wasn’t long ago before this craze took place; but now that it’s really changing the way most people live in downtown Toronto, perhaps living in a condo is really the life meant for you.