5 great reasons to buy a condominium
When we think about the great moments in our lives, those important decisions that bring about major reflections, the purchase of a property is often at the top of the list. Are you planning on buying a condo soon? To facilitate your research and guide you through the process, here are five advantages to doing so. Get out your pen and paper!
1. In the downtown core, the condominium market is experiencing unprecedented growth.
Buying a condo in downtown Montreal is a great investment. Demand is rising and supply is decreasing, putting pressure on resale prices, particularly in the case of projects close to metro stations, such as the ESTWEST complex. What’s more, growth is not expected to stop any time soon, which is very positive when it comes to resale in the medium to long term.
2. Less time devoted to maintenance means more time to enjoy life!
In our fast-paced lives, the maintenance responsibilities of a home can become a burden. In a co-ownership scenario, you can have peace of mind. Although you’re responsible for the upkeep of your own unit, you don’t have the additional tasks related to outdoor spaces, such as mowing the lawn, yard care and snow removal, among others. This is a great advantage for anyone who would like to have more hours in a day!
3. You have access to on-site amenities that you may not have been able to afford otherwise.
A spa, a gym, a pool…what could be better than that? Condominium complexes often offer great amenities that are accessible to all residents. These services may not be affordable for someone who has purchased a detached property.
4. Proximity with neighbours is reassuring!
Are you planning on taking a vacation for a couple weeks? You’ll have peace of mind knowing that your closest neighbours will ensure the security and proper functioning of your home in your absence. In addition, if you enjoy living in a close community, condo life is ideal for you, as you’ll always be in good company in this environment.
5. Monthly maintenance or condominium fees are usually foreseeable.
No bad surprises for the condo owner! You’ll pay a fixed fee per month to contribute to the co-owner contingency fund. So, in the vast majority of cases, you’ll be prepared for any unforeseen events and you won’t have any surprise expenses, as is sometimes the case when you own a single family home.
Hopefully these five key points will help guide you to the right decision! You’ll never be over-informed. Enjoy your reflection!