The Pros & Cons of Buying A Condo in Canada

Whether it’s your first or your tenth time, buying a new home can be a complicated task to tackle. There are so many factors to consider when looking for a new property, from the location to the size to the price. Plus, with the numerous types of properties available to you, including traditional homes and luxury condominiums, it can be tricky to narrow down which options best suit your needs and lifestyle.

The number of homeowners that have been turning to condo living has increased over the past few years, as they’ve come to realize the benefits that come with such a place. Luxury condos, such as theviewscalgary.com, make city living easy, accessible, and fun, allowing its residents to make the most out of their homes. However, as with any other residential property, condos also come with drawbacks, which may clash with certain individuals’ lifestyles. Therefore, let’s explore some of the pros and cons of buying a condo in Canada.

Pros

Access to On-Site Amenities

One of the most appealing features of condo living is the access to state-of-the-art facilities and amenities. Rather than leaving your home to go to the gym or get your morning coffee, you can simply go downstairs and get everything you need, right there on site. Not only does this save you time, but it may also offer you access to amenities you may not otherwise be able to afford. Upscale gyms, saunas, and daily fitness classes can be pricey, and may not be in your budget if you were to pay another company separately. With these features worked into your monthly payments at a lower cost, you can feel like you can have it all!

With amenities typically including fitness facilities, an owner’s lounge, storage, a green space with barbecues, and sometimes even mini golf courses, you can fill your day without even leaving the property!

Enhanced Security

Luxury condos are known for their security features, ranging from security cameras to door buzzers to doormen. You deserve to feel safe in your own home, which is why condos pull out all the stops to ensure access to their property is secure, thus keeping out any unwanted guests. Plus, your home never truly feels unattended when you go on vacation, thanks to your surrounding neighbours.

Less Maintenance

This city looks so pretty...

In condos, you are not responsible for any repairs that are required outside your own unit. This means that you can rest assured that everything will be running smoothly and efficiently without you having to worry about putting in the work yourself.

You Have A Say

As a condo owner, you have voting rights over decisions that happen within the building. Plus, if you so choose, you can run to be a member of the condominium board of directors, thus giving you a greater say.

Cons

Condo Fees

Condo fees can admittedly be a bit pricey. While they do go towards your property to ensure everything is in peak condition, including maintenance bills and the operation of the amenities, you don’t always have a say as to where your money will be going. This means you may be paying for amenities you don’t use or renovation you don’t want.

Less Privacy

In a condo building, you are naturally limited in your privacy when compared to a traditional home. The common areas and facilities are shared with everyone in the building, and you may find that some of your neighbours can get a bit noisy. However, units are thoroughly soundproofed in luxury condos, ensuring that you feel comfortable and alone in your own space before you leave your unit.