A condo is an excellent option if you’re not ready to buy a house yet. It’s the perfect stepping stone into homeownership, and it can give you a lot of flexibility with your finances. Condos are also often near other amenities like grocery stores, restaurants, shops, etc., which means that you don’t have to drive as much for everyday errands. If all this sounds appealing to you, then read on!
Here are reasons why buying a The Gazania condo home might be right for you:
1. Have a large savings account
Think about how much you’d have to pay for a down payment on a house in your area. For example, if the price of a condo with one bedroom is $180,000 and there’s 5% or $9,000 across Canada as a down payment requirement for condos, then you’d need to have $189,000 in your savings account to buy a condo. In other words, if you’re thinking about buying a house but don’t have as much saved up as you’d like right now, then a condo could be an excellent stepping stone into homeownership for you.
2. The idea of being a part-owner appeals to you
This is probably the biggest reason why so many people choose to buy a condo. The idea of having an ownership share in something appeals to many people, and there’s also something appealing about not being responsible for all of your home repairs and maintenance. So instead, live in a condo building. You’ll probably only have to pay dues to the condo association, which will then be responsible for taking care of things like mowing the lawn and making sure that your building’s exterior is in good condition. Many condos also have a homeowner’s warranty to take care of major repairs for a set period after you purchase the place.
3. You do not want to have as much responsibility
Condo living can be a great way to save money on utilities. In addition, since the development is often centrally located with other amenities nearby, you don’t have to drive for everyday errands. Plus, if what you’re looking for is less responsibility, then condo living can provide that! Of course, this isn’t accurate 100% of the time – you’ll still need to do your lawn maintenance and such – but it can be an excellent way to ease into adult life knowing that you don’t have to fix the roof or paint the deck.
4. You like to be social
There’s a reason why condos are often called “social” housing: they’re great places for single people and young couples, and they even work for families too! Of course, every development is different, but many of them offer many amenities that encourage their residents to interact, like tennis courts, pools, hot tubs/Jacuzzis, fitness centers, clubhouses with billiards tables, and so on. Plus, if you want an opportunity to meet new people without as much commitment as buying a house, then this could be the way to go.
5. You want added security
You probably know that condos are usually newer buildings because they’re built with a narrower profit margin than single-family homes, so they’re pretty much guaranteed to have more modern amenities. Plus, there are fewer maintenance issues for you to worry about compared to older buildings, which means that you can spend your time focusing on all of the good things life has to offer instead of fretting about leaky roofs and other problems.
6. You need flexibility in case future opportunities come up
If you don’t have children yet, but the urge suddenly hits, or if you have kids but still want them to grow up quickly so they can leave home as soon as possible, then flexibility is something that you may want to consider in the future. For example, condos are often sold unfurnished, which means that you can easily rent them out or sell them when necessary (for example, if you get a fantastic job offer in another city). It’s not like houses where everything inside has a fixed price and can’t be moved around with ease.
7. You don’t need much space
You might think that condos are pretty minor than houses because they’re denser than single-family homes, but some units have plenty of floor space for multiple bedrooms and bathrooms. When choosing your team, make sure you compare its square footage with what you need so that affordable units don’t end up being too small for you.
8. Condos have a social aspect
Most condos come with a 24-hour security system, which means that they’re generally safer than single-family homes with their perimeter walls and fences. You’ll also get more of a community vibe because it’s like living in an apartment building where there are plenty of other residents your age (or whatever age you prefer) living close by.
9. A condo is still home
Condos won’t feel small once you decorate them right. They do not look at all like shoeboxes; they can be spacious and stylish too! And even if the ceilings are lower than what you were used to at your parents’ house, this will become less of an issue once you start inviting your friends and family over. You’ll be surprised by how homey a condo can feel, even with smaller spaces.
10. Condos offer great flexibility in design choices
They come in various designs; some units are designed more traditional while others have contemporary features like open floor plans and high ceilings. So if you’re the type of person who wants to make things better and unique on your own, this is the perfect option for you because there’s room for creativity and design choices (like colors and layout). More often than not, condos also come with unfinished basements where you can set up a workshop or office space. Plus, if something breaks down, calling the building manager is less trouble than calling an actual contractor.
With condos, you are guaranteed a comfortable living with fewer responsibilities and more space. Investing in a condo, especially if you are a city working couple or a family with busy days, condos are the perfect solution that ensures low maintenance and high returns. Condo living offers an easy lifestyle that is perfect for people who don’t want a lot of responsibility. Your condo is an investment that will grow over time and appreciate.