In our last post we discussed how condominium living is the only option for those who have a home budget of less than $500,000. With the average Toronto condo costing over $415,000 this is the only option for first-time homebuyers. Though buyers with this budget may have been hoping for semi-detached or townhouse living, there are many benefits of condominium living. Here are some of them:
- Maintenance
In almost all situations, your condominium fees will cover the maintaining of the roof, windows, landscaping, etc.
- Location
Condos are often located in prime locations, where detached and even semi-detached houses are not an option.
- Security
Many condominiums have added security features, including a buzzer system, concierge, or guard service.
- Amenities
Many condominium complexes offer access to amenities including fitness centres and reception areas.
Tembo Financial is a leading non-traditional private lender offering a unique service to Ontario and the Greater Toronto Area. If you need an advance on your equity, Tembo can help you receive your money in as little as 48 hours with no credit check and no appraisal*.
*Subject to qualification.
Wow, I had no idea that maintenance of the condo would be such a draw for me. I dream of investing in a condominium and not having to worry about landscaping or roof repair would be such a great benefit for me! I will keep researching online to find the ideal condo to live in.