Planning to move? Although many people anticipate investing in a single-family house when considering to buy their next home, a condominium would make much more sense if you look at the benefits it offers. Condos can include low-rise buildings, duplexes, freestanding houses or mixed-use buildings. What makes them different from freehold houses is that apart from owning the unit, you also get the ownership of land, building and other common areas. This is the reason why they have gained a major popularity lately. That being said, it’s time to buy a new condo for sale in Vaughan, Ontario.
1. Someone else tackles the outside work:
One of the greatest advantages of owning a condo is that you are not liable to maintain it. You simply have to pay a monthly condo fees and all the services such as mowing the lawn, repairing or shoveling snow will be covered. However, in case of special assessments or unexpected repairs, condo owners may have to pay something extra.
If you prefer to live in one or two bedroom home or on one floor, condos give you the opportunity to own your space. They prevent isolation that can happen in single-family dwelling. Common areas such as pools allow you to socialize with neighbors.
Condo residents get a plethora of amenities just outside their doorstep. Some of the developments include party rooms and gyms without any additional costs of ownership or the headache of maintaining them. These features are hard to find in an apartment building or an average home.
If you want to live in the prime spot of a city but are short of funds, condos are an efficient and practical option. With condos, you can live in an area that is close to restaurants, work or shopping areas, which would otherwise be very expensive. You can also get access to public transportation and other activities.
Real estate agents in Vaughan, Ontario suggest that condos offer better security than renting or freehold homes. They usually have a doorman and secure entrance for the safety of residents. Plus, with so many neighbors, you will always feel safer.
6. Shared costs:
A part of condo fees goes to the reserve fund. When the property is managed properly, this fund covers major repairs, such as roofing and replacing windows without burdening the owner. If the reserve fund falls short, a ‘special assessment’ is done, which shares the cost equally among all owners.
So, what are you waiting for? Find a condo today!
Author’s Bio: The author is an ardent writer and this article talks about condos.