A condominium isn't usually what a person imagines when they think about buying their dream home. There's no yard, neighbors live on all sides of you, and there are strata councils to worry about. Many condo developments have restrictions on owning pets, and it's difficult to have social gatherings because of the lack of space. In addition, the ability to modify the design of the place is very limited. With all of these drawbacks, it's easy to wonder what the point of buying a condo is at all!
What makes a condo unappealing to some buyers is exactly what makes them perfect homes for others. For instance, the small square footage and absence of a yard makes condos ideal for people who are unable to spend a lot of time on cleaning and upkeep. Especially great for seniors and those with limited mobility, condos require much less effort to maintain than other types of properties.
Having neighbors live above, beside, and below you can add to residents' feelings of security in the building. In a single family home, there can be a strong sense of being on your own, which leaves some people feeling isolated and vulnerable. For those who are nervous about being totally on their own, having neighbors within arms' reach can be a great comfort.
Condos are excellent for first time home buyers and those on a limited budget. Condominiums are generally more affordable than detached homes or townhouses, which makes them accessible to a much larger segment of the population. Buyers who would otherwise be unable to buy a home can build up equity and make a solid financial investment if they purchase a condo. In addition, the affordability of condos enables buyers to buy property in pricier locales where housing prices are out of reach.
If budget isn't a concern, then consider the advantages of living in a luxury condo development. Most feature 24-hour security and amenities such as swimming pools, fitness centers, and rooftop decks for summer entertaining. With modern design and exquisite vantage points of the city, luxury condos can offer buyers a better standard of living than they would find in a traditional house.
Young professionals, couples, retirees, and first time buyers are attracted to condos because of their low maintenance and reasonable pricing. Many are also attracted to the fact that condos are usually located close to city centers, so they're able to enjoy the vibrant metropolitan lifestyle. Restaurants, galleries, shopping, and entertainment options are all within reach of a downtown condo. Commuting to work is quick and easy thanks to the extensive transportation network found in most major cities. You may even be able to walk to work!
Condominiums are definitely not for everybody. If you have a large family or love to spend time in the garden, you're probably better suited to a detached home. But if you're looking for something that will give you a good return on your investment and doesn't require a lot of upkeep on your part, a condo may be just the type of property you've been searching for.
Mike Andruff leads one of the top firms in the Vancouver real estate industry. To find homes for sale in the Marpole Vancouver real estate market, be sure to visit Mike and his team at VancouverPropertyFinder.com.
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