When considering your next home purchase, you’ll most likely make a condo vs. apartment vs. a single-family home comparison. It’s normal to want a single-family home but sometimes your finances and situation might make a condo a more practical choice. Condo living comes with a number of benefits for potential homeowners. Let’s go over some of them.
1. Accessibility
The most important factor when looking for a home is the location. If you have school going children, you will want a house that is close to the school. It is also important to find a home that is close to your workplace and all other amenities you need to live a comfortable life. Most condominiums are built in cities and in proximity to numerous amenities. Some condo complexes will have all the amenities you need within the condo towers.
2. No Outdoors Repair Responsibilities
When compared to owning a standalone home, condominiums come with the advantage of not having an outdoor space. The little space outside your condo is the responsibility of the management. The management also takes care of any roof repairs and also maintains the various amenities available to the residents.
3. Availability of Amenities
A difference you will find between a condo and a standalone home is the fact that condos come with a wide range of amenities as part of the deal for living there. Most condominiums are built with an onsite swimming pool, gymnasium and a tennis court. All these are available at an affordable monthly maintenance cost to the condo tenants. Having these amenities in a standalone home is expensive to install and maintain. Therefore, most people opt not to have them. Apart from these amenities, some condos are also built to have lush green gardens where residents can enjoy the outdoors. This is a welcoming advantage for anyone who would want to own a garden without the fuss of managing it.
4. Renovating Freedom
Living in a condo gives you the freedom to rearrange the living space to suit your needs. Most condo management teams have guidelines on renovation but allow the condo occupant to renovate the space to their liking. This is not common in apartments and standalone houses where renovating the space may mean having to forfeit your security deposit when moving out. This makes a condo a perfect choice for families looking to maximize their use of space at a smaller leasing cost. You can trust a Toronto condo team to get you the most flexible condo unit that allows for renovations.
5. Security
Condominiums are built with the safety of the occupants in mind. It is not easy to gain access to a condo without the authorization of the condo management team in liaison with the condo owners. There is usually a locked front entrance which is a hindrance to would-be intruders. This is the only way to get to the condos. This makes condos safer than other types of houses where there are no barriers between the house and the outside.
