In recent years, condos have become very popular. Here are a few common reasons why they are becoming a hot ticket item.
LOCATION In real estate, location is a dominant factor in choosing a home. In many cities a condo unit is the only way to access a preferred neighborhood in proximity to key work areas, especially in downtown core areas where other forms of housing are simply not available or much more expensive.
CONVENIENCE AND SECURITY One of the features of a condo is its secured entry system which often has security staff present. The maintenance of the building is generally looked after by the property management team. This allows the owner to travel or pursue a busy lifestyle by shifting some of the normal responsibilities of property ownership to a professional team and share the cost with the other owners.
AFFORDABILITY Although the price of a condo varies greatly, they are generally less expensive than a townhouse, detached or semi-detached home in a comparable area. This often applies to first-time home buyers, people wishing to downsize and people moving from a rural or suburban area into a city.
DOWNSIZING Some people find downsizing from a larger home difficult as they must shed lifelong belongings. Whereas others find the need for less furniture stuff to be liberating while the ability to live in a smaller space much more efficient and convenient.