Recent years have seen an explosion in the amount of multi-unit housing on the market. With new builds starting everyday, it's clear the condo market is hot, hot, hot. Today's units appeal to a wide variety of people for a number of reasons.
Price may be a consideration - lower cost condos and townhouses can be a viable option for people who are priced out of the traditional home market. Buyers often see these as a way to get into the market. Buy a condo, build equity and in a few years they are ready to move up to a home. But don't be fooled - condos are not just for first timers. In fact, many condos are priced in the luxury market and far exceed the cost of a regular home. The top priced properties in the condo category are often lofts, with ceilings soaring as high as 25 feet, floor to ceiling windows, wrap around balconies and stunning views and beautiful architectural details. In new builds bamboo floors, granite kitchens, stainless steel appliances, and terraces are often standard features.
Condos are also popular with urban professionals who aren't interested in wasting their free time on a long commute but who can't afford a house downtown. With longer commute times linked to higher stress levels, this is a no brainer - who needs it? Move to town and walk to work, shopping, restaurants and nightlife. Embrace the freedom an urban lifestyle can provide.
The biggest draw to condo living is often the lifestyle. Life is hectic for most of us, and many people just want to simplify. The thought of condo living appeals to those looking for a low maintenance lifestyle. There are fewer security concerns, lower day-to-day costs, and less upkeep time required. You might never have to mow a lawn again. But don't think that having a condo means you'll be missing out on that garden - many developments offer enchanting landscaping and individual terraces where your green thumb can run wild. With smaller plots, your natural creations will be easier to maintain, which gives you more time to enjoy the space.
Home improvement junkies also like the lower buying price and reduced maintenance fees involved with condos because it means they can spend more on the interior of the unit. Condos can become a unique work of interior design. And in new builds, the many upgradable options allow buyers to specify the finishing details of the condo.
Then there are the extras: in addition to the amazing details of the individual units, many condo developments, especially in the higher price brackets, offer amenities that can make it seem like you're living in a high-price hotel. Today's buyer can choose between developments that offer extras like media rooms, fitness clubs, heated swimming pools, hot tubs, fire pits, game rooms. Some condos come with a communal staff: door attendants, maintenance staff, a concierge and valet parking.
Condos have become synonymous with an increasingly cosmopolitan crowd. With all the available extras, the increasing availability of condos is no surprise. You too can have this lifestyle. Enjoy the benefits of home owning without the responsibilities of a traditional house. Let your condo set you free.
