Ever wondered what the benefits of condo living over a typical neighborhood are? The truth is, condo communities have a different feel to them, and not necessarily in a bad way. In fact, condo living can be a much better experience than a neighborhood in a number of ways. Let’s go over them below.
1. Regular Events
While neighborhoods can have block parties, they are unlikely to have a regular Thursday game night. Many condo associations have regular events scheduled throughout the year. If you’re looking to buy a condo, talk to the Toronto condo team to get you one with regular events.
2. Exercise Space
One thing you can never overlook is the importance of exercise for your overall health. For many condo communities, a gym is a built-in amenity. This eliminates the need for a sports club membership or driving across town to get to the gym. It’s even better than owning a personal gym because you won’t have to worry about maintenance and you get to interact with other condo owners during your workouts.
Security is one of the major benefits of condo living. Over and above the security guards at the front desk and the presence of security cameras, condos come with a sense of security that can’t be matched by those living in a neighborhood. You know all your neighbors and trust them. You can easily go on vacation without worrying about your home getting burgled.
4. Dispute Resolution
Neighborhood disputes can be nasty. But they do happen and there’s very little you can do to prevent them. The same applies to condo communities. However, unlike a neighborhood where disputes are the business of the warring factions, condo communities have a board and property manager to settle disputes and bring people together. You don’t want to be the neighbor that never gets invited to dinner parties because of unending disputes. There are also established rules regarding how the members of the community live and treat each other. There are rules on noise levels, cleanliness, and other issues that would be hard to enforce in a neighborhood.
5. Less Expensive
While this is not true for every case, condos are generally cheaper to live in than stand-alone homes. This is largely due to sharing available amenities. There are a ton of things that you don’t necessarily have to pay for when living in a condo. For instance, you don’t have to worry about mowing the lawn, maintaining the swimming pool, or buying gym equipment. Such costs are shared between the members of the condo community. This is one of the advantages of condo living. You could easily save thousands of dollars every year and live a comfortable life. This is one of the benefits of condo living.
There are a ton of reasons for living in a condo community. Most condos are located conveniently close to the city making your commute to work much easier. Condos also make it cheaper to live in an otherwise expensive area since the cost of the land is spread among the community members.
Purchasing a condo is a fantastic investment. You don’t even have to live there if you don’t want to. You can easily rent it out. Condos are hot rental properties that can fetch you a tidy sum in rental income.