Transitions-Oakville, Burlington and Mississauga Real Estate Blog: Benefits of Buying a Condominium in Burlington, Oakville or Mississauga

Real Estate blog about property, home buying and selling, life in Burlington, Oakville and Mississauga Regions of Ontario, Canada.

Benefits of Buying a Condominium in Burlington, Oakville or Mississauga

Benefits of Buying a Condominium in Burlington, Oakville or Mississauga.

More and more homebuyers are turning to the condominium lifestyle in
Canada today. Condominium ownership can appeal to both those leading a fast-paced lifestyle, as well as those who are retired and enjoying a slower pace. Condominium ownership comes with numerous benefits that help the homebuyer achieve a more comfortable and stress-free life.

  • Affordability-Condominiums can often be purchased for a fraction of the cost of a standard residential home. This is an important factor that attracts both the single lifestyle, first-time buyers and those who are retired.

  • Security and Personal Safety-Condominium complexes offer a closer knit community than a single family dwelling. For those who frequently travel or live alone, this can be an important factor when choosing a home.

  • Organized Recreational and Social Activities- Many condominium complexes have recreational facilities for the condominium owners to use, as well as organized activities on a monthly basis. Having a pool or recreational centre with regular events serves to bring the community together and creates a comfortable and healthy lifestyle for those who live in the complex.

  • Less Maintenance Required-Many condominiums offer outside maintenance and repairs as a part of the ownership package. For those who are gone over the winter months or unable to perform their own outside maintenance, knowing that the snow removal, grass cutting, roof repairs, etc is taken care of, can bring great peace of mind and a greater ability to enjoy life, as well as not having to worry over the expense of a costly outside repair like a new roof.

  • Lower Insurance Costs-As a condominium owner (freehold condominium exception) you will be responsible for insuring your personal belongings, the interior of your unit and personal liability. The condominium corporation is responsible for the common ownership areas and exterior of the units.

  • Investment Value-With the increase in the average age of the population and more and more retirees entering the buying market, the demand for condominiums continues to rise.
    Most areas in Ontario currently face a shortage of affordable and desirable condominiums and the value of the average condominium continues to steadily increase. Investors who saw the coming demand years ago, and purchased one or more condominiums, have realized a healthy return on their investments in recent years.

  • Decreased Energy Costs-The majority of condominiums share outside walls in common with their neighbouring units and this serves to greatly decrease the amount of energy required to heat and cool each unit. In addition, many condominium complexes supply hot water to the individual units from a common source. This can greatly reduce your monthly electricity costs.

  • Smaller Footprint upon the Earth-With condominium owners sharing the common areas, a greater number of homes can be placed on a lot in a condominium complex than in a corresponding number of single family dwellings in a typical subdivision.

  • Lower Property Taxes-Municipal taxes for a condominium unit are comparably lower than taxes for a detached single family home.

Buying a condominium is a wise decision and having a real estate sales representative who understands and is knowledgeable about the condominium buying process and what to watch out for, can bring a smooth and enjoyable buying experience that you will remember with pleasure.

As a Licensed Real Estate Sales Representative in the Oakville/Burlington area, I would be honoured to help you through the condominium buying (or selling) process.

To receive a book on Buying A Condominium at no cost or obligation to you,   contact me at OakvilleandBeyond@gmail.com or 647-782-9057.


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Comment balloon 12 commentsJo-Anne Smith • February 24 2008 09:05AM

Comments

Jo, these are all excellent reasons to purchase a condo.  In the D.C. and Northern Virginia area, another reason to add would be proximity to restaurants, nightlife, shopping, and public transportation.  Condos here are often built along the metro line in in heavy foot traffic neighborhoods.  One can often live in a condo and not have to own a car.  I'm finding buyers of all age groups and incomes opting for condos over single family homes as a preferred choice not as a last option
Posted by Brian Block, Northern Virginia & D.C. Real Estate (RE/MAX Allegiance, Managing Broker/Branch Vice President) over 10 years ago

Hi Brian!

You raise additional benefits to condo living...in fact, the proximity to amenities is very similar to many condominium complexes in this area too.

It sounds like your region has excellent city planners and developers who take into consideration the lifestyles that will benefit condo owners.

Here too, buyers from every age group and situation are opting for condos.

thanks for visiting this post!

Jo 

Posted by Jo-Anne Smith over 10 years ago

Jo,

Condos definitely have a significant role in real estate values...the complaints I hear the most is the way the condo association is run or the monthly fees are too high...condo owners should get involved with their associations when possible! Thanks,   Fran

Posted by Fran Gaspari, "The Title Man" - Title Insurance - PA & NJ (Patriot Land Transfer, Inc.) over 10 years ago

Hi Fran,

I've heard the odd complaint like that too....however overall, I feel the benefits far outweigh the few negatives and the negatives are specific to each condo complex, so the way it is with one, may not be the same to be found with another.
Good reason to use a sales representative who knows the region and the history of the condominium complexes.

Jo 

Posted by Jo-Anne Smith over 10 years ago
Jo, If I could move into a condo here I would in a heartbeat.  They are just as much as a house...and some are very inconvenient as far as parking and rules...I had actually gone to see one that would cost about what I would get for my house; it was like a small hallway in need of many upgrades.  I'm glad your market has many available and am sure as the "baby boomer" generation sets in, people will favor them over houses.
Posted by Laura Cerrano, Certified Feng Shui Expert, Speaker & Researcher (Feng Shui Manhattan Long Island) over 10 years ago

Carole,

It's surprising that condominiums in your area are the same price as a house. Are they in more centralized locations in relation to the city?

What I like most about conominiums is the security and low maintenance aspects...plus knowing that if any major things need fixing outside, they're covered.

There are a number of varieties and price ranges available here and they're very appealing to an increasingly larger segment of the population.

Jo 

Posted by Jo-Anne Smith over 10 years ago

Hi Jo,

A condo is where we will end up one day!  

Posted by Trace Galle (Designs by Trace) over 10 years ago

Hi Trace,

Condo living is very carefree and great for retired folks, especially those who love to travel.

thanks for visiting this post,

Jo 

Posted by Jo-Anne Smith over 10 years ago

Jo-Anne,

With your permission, I'd like to reprint this article at www.condobenefits.com with a by-line and a link to any site you like. Please contact me to grant permission!

 

Posted by Will Nesbitt, Nesbitt Realty is a family-run brokerage. (Nesbitt Realty at Condo Alexandria) almost 10 years ago

Will,

thanks for your request and yes, certainly you may use this article at your condobenefits website. 

Jo

Posted by Jo-Anne Smith almost 10 years ago

Jo-Anne,

It's posted. Please take a look to make sure it meets your approval.  I'd much appreciate if you pass the word on to other condo experts. The site CondoBenefits.com is at http://www.condobenefits.com

Posted by Will Nesbitt, Nesbitt Realty is a family-run brokerage. (Nesbitt Realty at Condo Alexandria) almost 10 years ago

hi Will,

I'll go over it a bit later today or over the weekend and see if there are any changes I would like made.

~also, I'll pass the word along; it looks like a great domain name that will be of benefit to many consumers in the market to buy a condo,

Jo

Posted by Jo-Anne Smith almost 10 years ago

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