Living in a condo has its own charm other than the allure of convenience. It is free from hassles and provides more flexibility for residents as they will be able to have access to a lot of things the life of a city has to offer within the doorstep.
Is living in a condo the right option for anyone? Especially if they are residents of cities like London, New York, Tokyo, Los Angeles, Sydney, Melbourne, Auckland, Rio de Janeiro, Dallas, Miami, Houston, San Diego, Toronto, Calgary or Vancouver; then they are in for a pleasant surprise.
There are numerous advantages and benefits of living in a condo in the city of Toronto. It provides residents numerous amenities and convenience for everyone. In the current market conditions, it is a much more affordable option in comparison to single-detached homes in the inner city suburbs.
Toronto’s real estate market continues to shatter all-time high records. Such a phenomenon has left condos as the most affordable option in inner-city residential real estate today. In April 2021, the average cost of a condo in the City of Toronto is C$ 722,128 whereas the average cost of a detached home is around C$ 1,599,600.
This indicates that condos are a much more affordable option at the moment. This also makes it a great place to live.
The plus points of living in a condo
Living in a condo is free from hassles, and for tenants, it is a case of added flexibility. They don’t need to spend extra time on mowing the lawn or clearing the pathway on weekends.
Let’s imagine ourselves waking up each morning in the beautiful condo right in the heart of downtown. The amazing advantages a condo brings are convenience of transit, amenities, the location, a sense of community and much more. Here are the advantages of living the condo life discussed in detail:
No issues with the transit
Condos in Toronto are usually in close proximity or within the walking distance of several subway stations and transit lines. This will allow residents to reach any point or place in the city in time with ease.
In downtown Toronto, many residents enjoy the ability to get around without having to use a vehicle. Being in close proximity to a public transit can make the early morning commute to work not just quicker but easier without having to deal with the traffic jam. As new expansions to Toronto’s transit system are starting, this will help Torontonians obtain easy access to travelling within the city.
A large component of the reason Canadians and other people alike love to live in Toronto is the convenience that is offered. With transit lines, bus stops and taxi stands nearby, this also reduces the need for paying for exorbitant parking charges and dealing with limited parking space in the city.
A handsome amount of amenities present
The wide array of amenities vary from one condominium complex to the other. Yet, residents will have numerous amenities available to them right at their doorstep. When people purchase a condo, maintenance fees are included in the monthly costs ensuring amenities that are cleaned and well maintained timely.
This indicates a hassle free life-style thereby removing any need to mow the lawn, clean the driveway, cleaning the chimney or any other home improvement stuff.
With fewer responsibilities involved, the condo life allows residents to spend their time enjoying the city and the benefits a condo has to offer to any Torontonian. Condos in good old T-Dot have wonderful and modern amenities, and they attract residents, young adult professionals in particular.
Among the amenities found in a condo include rooftop terraces, outdoor pools, gyms, theaters among the many offered and present. These are the perks of living in a condo in Canada’s largest city and financial capital.
A cost effective lifestyle
As detached homes in Toronto become more expensive, younger adults are forced to purchase condominium units. Not only are they more convenient for a resident’s choice of lifestyle but also, they are the most affordable option available. Sales of new single-family homes have set a 15-year record back in January this year.
The benchmark price for new single-family homes rose by 24.2% annually to around C$ 1.36 million. Purchase of a condo is an affordable option for many out there whilst creating equity simultaneously.
The aspect of the location
One of the great advantages of living in a condo is its location. Living in a condo in a city like Toronto will place the resident in a worthwhile location which is close to the necessities residents need. In cities like Toronto, everyone desires to be close to all the events and activities happening throughout the city.
Having the luxury of being in close proximity to almost everything is a huge selling point for numerous residents. Whether it is an easy commute to work, a walk to the grocery store or other favorite shops makes life easy. In short, all necessities become available at a short distance.
Other than that, bars, major city attractions, The Rogers Center, Air Canada Center, Toronto City Hall and other places of prominence are also near condos.
A sense of community
Most condominium complexes have community spaces, like game rooms, pools, gyms and kitchens where residents can socialize and meet new people. A condominium building offers loads of activities to keep residents engaged with their community which thus offers a sense of community involvement hardly observed among residents of single detached homes.
Regardless of whether it is relaxing by the pool with neighbors or having some fun in the game room, condominium buildings provide residents the opportunity to be friends with everyone in the building. Having a good amount of like minded and cheerful residents in the building is something not found anywhere else.
Dependable and reliable parking
Residents of condos owning automobiles or motorcycles (or both) will have access to a safe and secure parking (which is either underground or located a few stories above the ground floor). This is useful for the city’s intensely chilly winters which can go to freezing points.
An underground secure parking keeps the cars close to the building and protecting them from weather conditions and theft.
Thankfully Toronto’s crime rate is lower than that of New York, Los Angeles, London, Berlin, Chicago, São Paulo, Rio de Janeiro and other large cities. Yet, the city ensures that crime rates stay as low as possible.
When residents purchase a condo in Toronto, some condo complexes offer residents parking and lockers at additional costs along with cleaning and maintenance services.
Parking spots in good old T-Dot are in quite high demand and residents who do not have an automobile can choose to rent out their parking space to other residents or tenants of the same building.
Safe and secure living, thanks to security present
Living in a condo allows residents to have a peace of mind with a heightened sense of on-site and built-in security present. Most condominium complexes have secure entrances with surveillance cameras. In fact, some even have well-trained security guards at the concierge desk all the time.
This is great for those who live alone. For those who are looking for that extra sense of safety and security, they have it even better, thanks to living within a condo. Within most condominiums, residents can be sure that their safety and security is top-priority.
Conclusion
These are the advantages Torontonians can obtain when they are living in condos. Apart from safety and security, amenities are nearby and each condo complex has a place for community and recreation which allows residents to know each other.
Toronto mixes housing spaces into apartment lots as a way of battling urban sprawl. This is the reason the city has condos in abundance leading it to be colloquially known as condo-ville. Those who wish to purchase a condo can contact their realtor right away.