There are many advantages of owning a condo in Canada. Perhaps the biggest advantage is owning your own home, which gives you a sense of security and stability. Additionally, condos are often more affordable than traditional homes, and they come with many amenities that make life easier. We will discuss the top four advantages of owning a condo in Canada, and you can find the listing price for Lakeshore condos by clicking this link.
You Get a Fair Price
With the current market in Canada, you may be able to get a condo for less than $500K. This is especially true if you purchase it from someone who has owned it for several years and wants to sell it at a lower price. Condos can also be found in high-demand areas such as Toronto or Vancouver, where the cost of condos is higher than in other cities. Whether you are looking to buy a condo because it is more affordable than other options or wants the convenience of living in a large city, condos can be an excellent way to own your own home.
Owning Your Own Home Is Secure and Stable
The biggest advantage of owning your own home is that it gives you security and stability. This is especially true in a down market when you may be able to get a mortgage for less than the condo’s asking price. Owning your own home means that you are not at the mercy of a landlord, and you can paint, renovate, and decorate it any way you like. You also don’t have to worry about moving somewhere else if your lease runs out or you get transferred to another city.
You Get the Benefits of a Homeowner’s Association (HOA)
Another big advantage of owning a condo is that you are part of an HOA, which offers many benefits and amenities. Some HOAs include golf courses, tennis courts, swimming pools, gyms, and other amenities in the monthly fee. In addition to these perks, you also have access to maintenance staff who will care for your lawn and landscaping for a small additional fee.
You Can Make Money on Your Condo
If you choose to sell your condo later down the road, there is a good chance that it will be worth more than what you paid for it. This is especially true in high-demand areas where condos are selling at very high prices, and there isn’t a lot of inventory available. If you choose to rent out your condo, this can also be a good investment since the monthly rental income will cover some or all of your mortgage payments and other expenses related to owning a condo.…
Although shared, this is a great amenity to have around you. It is an all people amenity as both kids and adults can use it. Today’s condos are rarely missing it. In fact, you will get a variety of them in different condos.
One of the most amazing things about condos is that they are often built near essential amenities. This explains the reason you cannot just find them anywhere. For instance, most of them are close to the central districts in town meaning that if you are someone who visits the city center every day, you will have no problem doing so. They are perfect for those who work in offices or do business around this area. They also make you live close to the best shopping malls, recreational parks, cinemas, and other essential facilities.
It is also good to live in condos because they come in various styles, designs, and sizes. Your choice should be determined by what is best for you. For example, on the same property, you will find that there are condos meant for large families, and those meant for people who live alone.
market more stable this year is the new listings-to-sales ratio that makes the general property markets more than 50% stabilized. Also having a look at the months of inventory you see that the Canadian market is leveling off because these months represent the liquidation of inventories proportionately to the current sales activity rates.
national average prices of houses. Although with this fall, the market variation wouldn’t be felt because of the market differences in the other places. With this decrease, it means the market is volatile and requires increased sales activities and discovery of viable land for construction. The good thing expected in 2018 is that the hot regions expected to have increased sales activities are largely expensive and there are other regions flat-line rates not expected to disturb the market intensely, leaving the section expected to bring a drop easily controlled and contained not to affect the market intensely.…
percentage of nearly 10% year-over-year compared to most of the other areas in Toronto which vary with a percentage of 8%. Other areas like Vancouver have a 6% varying percentage. This is an essential factor to consider so that one can weigh on the price in relation to the place desired to settle.
The 2008 house price-crash in the US is one perfect example where houses depreciated leaving millions of house owners having their houses less worth as they initially had paid for them. This same case was witnessed in Toronto between the years 1990 and 1996. Chances are also that if the economy slows down markets might fall again.