Are you planning to move to a new house? If yes, then you should value condominiums for sale in Etobicoke. Condo living is an all new rage in this modern age of living standards and choices. But before taking the final decision and making the ultimate choice, you must know more about this market and the pros and cons of living in a condo.
When you will go to this market to gather information, you are going to come across different kind of people including the first time condo buyers, investors who are interested in pile up the rented properties and of course all those baby boomers who just want to squeeze the size and responsibilities of their living space.
Condos can be of different types including low rise buildings, duplexes, triplexes, townhouses or sometimes mixed used buildings which have offices or shops too. You can either find brand new ones or some perused buildings too. There are some apartments and factories which now are converted into beautiful condos.
If you are thinking about the difference between condos and freehold homes then you will come to know that a condo is an independent unit in which you share the ownership of different things including the land, building and some of the common areas. Most of the big decisions are taken by the management of property and some of costs are shared with people living in other condos.
There is a lot of hype about condos in the market. Let’s find out if they are great option to live by checking out the pros and cons.
Table of Contents
Pros of living in a condo
Most of the outdoor works are done by someone else:
If you live in an independent house, then you have to take care of a lot of maintenance works by yourself, but living in a condo means that you are free from the chores which you couldn’t do because of your busy routine or are unable to manage such tasks on your own. Things like snow shoveling, lawn mowing and the repair work of the exterior of the building are the responsibility of a third party.
Shared major costs:
When the condo owners pay monthly fee, then a portion of that fee is reserved by the management. These funds are then used for major repairs like window replacement or paintwork. In case the reserved funds are inadequate, even then the costs will be shared among all the owners.
Lifestyle:
In case you give value to living in a one or two-bedroom home, then it is better to own a condo rather than living on rent. There are many common areas like pools, gym or recreation room where you can do and socialize with your neighbors.
Cons of living in a condo.
price:
Living in a certainly does not mean that you are cutting down the cost of living especially if you are improving the level of luxury. Moreover, the price of the condos depends upon their location too. If it’s at prime location, then the cost can be much more than a freehold property.