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Your Hamilton Area Real Estate 'Blog By Jeff Bonner, Sales Representative with Jag Realty Inc, Brokerage KIRH Home | JeffSellsHomes.ca
What are the benfits of condo life?
Condominiums, for those who are not familiar with them, are a form of ownership where you own a portion of property yourself (the unit), as well as the rest of the property "in common with" the rest of the owners through a corporation structure. You can read a bit more about this in a previous entry comparing condos to cooperatives. But putting aside the technical aspects, what are the benefits of condo life?Community One aspect of condo life that might surprise you is the sense of community. Obviously, every condominium is going to be different, just as every neighbourhood is different, but the common ownership aspect creates an automatic connection. If nothing else, there is a condo board and Annual General Membership meeting. But my experience has been that people living in a condo will be more likely to know their neighbours, and more of them - whether it's a townhouse condo or building. Maintenance When you live in a condo, you'll likely never have to pick up a rake, or push a lawnmower, or shovel snow. The condo corporation takes care of all these duties, plus cleaning and maintenance of common areas in condo apartment buildings. This is ideal for either busy young professionals or retired folk who may travel for large parts of the year (ie. snowbirds). The maintenance goes on, regardless of whether you are around or not. Amenities As mentioned above, every condo is different, and so are the amenities available in each. Some townhouse complexes may have basketball or tennis courts available, or playgrounds for children. Greater variation is seen in buildings: free cable, indoor swimming pools, state-of-the-art fitness rooms, 24 hour concierge service.. I've even heard of private libraries! Of course, the more you get, typically the more you are going to pay in your condo fees to support and maintain those perks, so it is important to keep this in mind when comparing units. Condo Fees I think condo fees get a bad rap in general. Many people see them as an extra expense and a waste of money, but I actually see them as a benefit. Again, you have to look at what you're getting, because every condo is different. But in many cases, the benefits received in the condo fee outweigh the expense, because of the "buying in bulk" effect. More on condo fees next time! If you have any questions about condo owndership, or have any other real estate questions, please call me at 905-512-4069 or email Jeff@JeffSellsHomes.ca
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