What Are The Primary Benefits Of Owning A Condo?

A condominium is one of the best ways to enter the real estate marketplace. Condominiums represent a large component of the real estate inventory in virtually every province offering many appealing choices for prospective buyers. Here are few of the reasons condominiums are so popular among Canadian buyers.

Price: Condos tend to be more economical to purchase than houses. Of course, there are exceptions, as luxury condominiums in urban centers or other specific locations can fetch record high prices. But overall, this form of residential property is an excellent way for anyone, especially first-time buyers to begin their home ownership journey. The lower cost means a lower down payment is needed, and the property taxes on a condo will also be lower than for a detached property – another economic advantage.

Security: Having peace of mind is another of the advantages of owning a condo. Many projects have secure entrances, locked and secure parking facilities and ample outdoor lighting. Having a secure home makes leaving for vacation or business trips worry-free as well, as you know your property will be monitored and safe in your absence.

Maintenance: Some people love to do it themselves; others do not. If wanting a lifestyle that does not require a great deal of hands-on work and the freedom to not worry about maintenance, then owning a condominium might be the perfect thing for you. When you are part of a condo community routine chores like mowing the lawn, looking after the landscaping, shovelling snow off the walkways, painting the exterior and other tasks are handled by the development’s owners.

Social Benefits: The key word in the phrase ‘condominium community’ is community. The opportunity to socialize with that community is a big part of the condominium lifestyle. Depending on the complex some condo projects have swimming pools, weight rooms, a clubhouse, saunas and other features. Many also have active resident’s committees who organize seasonal events, barbecues and other activities. If a social lifestyle appeals, then having access to a built-in social network in your own development is yet another reason for purchasing a condominium.


Simple Things Can Enhance A Home’s Selling Price

You’ve made the decision to sell your home. Finding a way to sell your home as quickly as possible and ideally for the most money is what all home sellers aim to do. Here are a few steps you, as a homeowner, can take to help satisfy both of those requirements. When it comes to first impressions, appearances really do matter. Spruce up the exterior of your home to create the best curb appeal. Small steps, such as clearing any debris, tools or toys from the yard and maintaining a shovelled sidewalk or driveway can go a long way to making that first impression great.

Other simple fixes that can enhance the selling price of a home include updating older style lighting fixtures, replacing the front door, upgrading hardware on fences and gates and repairing downspouts and gutters that may be worse for the wear. Some real estate sales professionals suggest a fresh coat of exterior paint could see the sale price of a property climb by five percent or even more. A costlier upgrade, but one that could ultimately pay off in the end, would be to continue the painting effort inside the home.

Replacing the property’s appliances with modern, energy-efficient models is a popular option. Contemporary home buyers are aware that energy consumption is a huge part of the cost of operating a household and will understand the value modern appliances add to a home. Those green kitchen appliances from the 1980s may still work, but nothing will dazzle a prospective buyer more than their glistening, new energy-efficient replacements.

It all comes down to selling your home, in the shortest time and for the largest amount possible. The time and money invested in enhancing a property today will prove a worthwhile investment later when the sale completes to your benefit.


Secondary Dwellings Function As Revenue Generators
Having a second, small, home on a property is becoming an increasingly common sight in Canada. These structures can be referred to as a carriage house, a coach house, a laneway house or merely a tiny house. They typically serve as a means of adding more living space to a property, and increasingly as a revenue generator or mortgage helper for the homeowner.

Functioning much like an in-law suite, the secondary property movement was initially encouraged in Canada’s larger cities to provide more living space in communities where rental accommodation was in short supply. Today tiny houses can be found everywhere, from rural settings to major urban cores. There are any number of reasons for constructing a property of this type, from providing a sense of independence and privacy for elderly parents or growing teenagers, to running a business.

Mainly however these structures serve as a means of generating rental income. A fully self-contained structure, these small secondary homes will have their own plumbing, heating, telephone, internet, cable, etc. – just like in a traditional house. While it is possible to purchase and transport homes of this type that are ready-made or otherwise prefabricated, many opt to have their unit constructed. A custom-built home will be able to match the design wishes of its owner, especially for size, exterior finish and other factors.

Many builders have moved into this expanding marketplace, in many cases as a means of keeping their crews working during lulls in regular home construction. Always check with your local governing body for zoning regulations before you reach out to builders or acquire a ready-made structure.
Copyright 2024 by the REALTORS® Association of Edmonton. All Rights Reserved.
Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.