There is a condo craze going on in Calgary right now, thanks in part due more affordable prices in the apartment market and a shift in desired lifestyles. Financial Post just published an interesting article profiling the rise in demand for condo living in Canadian cities like Calgary.
“I definitely do not want a yard and I do not want anything to do with the suburban lifestyle,” says Isaman, 40, a business owner and single mother in Calgary. “We have a way more abundant lifestyle because I’m not shovelling the walk, I’m not taking care of the yard.” [Financial Post]
The condo market continues to have a strong track record in Calgary, so we thought we’d explore the great reasons to purchase a condo. There are many advantages to consider when purchasing a condo for the first time, or simply buying your next one.
“One of the great advantages to owning a condominium is that in most cases, it is owner-occupied and owner run. Owners ensure their investment is maintained and regard improvements as an investment which increases the value of their individual unit.” – RE/MAX Canada
Advantages to going for a condo:
- Protection from rent increases
- Monthly cost of owning is often less than renting
- Availability of amenities such as: swimming pool, tennis courts, hot tubs, saunas, whirlpools, exercise facilities, health spas, sun decks, community rooms, etc
- Freedom to make interior changes and enhancements to your unit
- Enhanced security availability and peace of mind when leaving unit unattended
- Maintenance and upkeep is kept down or eliminated
- Security of tenure and permanent occupancy
- Very marketable
- Participation of owners in operation of development including budgeting, decision making, determination of rules and bylaws.
Do you have a question about purchasing a condo, or the condo market in Calgary? Feel free to contact us, or you can always tweet us.
