The housing market isn’t crashing, so prices aren’t going to spiral down. The market has been affected by the COVID-19 health crisis, and normal everyday activities are expected to slowly return as we get closer to fall and into the next year. 

With that being said, now is the time to look into luxury condos! You may be wondering if that lifestyle is worth its price tag or whether or not you should browse through single-family homes instead. Well, not to worry! Susan is here to help you weigh your options.

Toronto

On-Site Perks

Buying a condo is a good investment because you’ll have access to the building’s common areas and more:

  • You’ll feel safe day and night since there’s an on-site 24-hour concierge desk on the ground floor. 
  • Your car will be in the underground garage and under surveillance, which will deter people from damaging it.
  • You can access the fitness center, even late into the night.
  • You can still engage in sports if it’s raining outside with the indoor tennis court or swimming pool.
  • You’ll be able to head down to the building’s stores for food and other items if you have family suddenly coming over.
  • You can relax in the gated park area or the rooftop terrace that’s exclusive to occupants.

These perks allow you to save money on fitness equipment and reduce your need for added security in your condo. Additionally, you can join the Condo Owners Association where your rights as a condo owner will be protected. It will provide advice or assistance whenever you need it. 

Location

Many luxury condos offer on-site amenities for convenience, but when you do leave the premises, you’ll want to be near essential services and your favourite stores. Your location will not only save you time, but money as well since you won’t need to fill up on gas as often. 

High-rise luxury apartments are a popular feature of the Downtown area. The southern part of it is rife with many discoveries. Your weekends can be spent exploring Chinatown and the Harbourfront, sampling the cuisine or enjoying the tranquility of the riverscape.

Not interested in a high-rise condo? Neighbourhoods, such as in Yorkville, have condo buildings that are ten floors or less. You can find an ideal unit near subway stations, various restaurants, coffee shops, museums, and movie theatres. Yorkville, known as The Mink Mile, offers high-end fashion choices, making it very easy to pop over to Tiffany & Co., Holt Renfrew, and more extravagant names. 

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Less Responsibility

Buying a condo instead of a house allows you to enjoy more free time. With a house, you have the outdoor property to maintain year-round. While you’ll have several types of condo fees to pay, you won’t have to worry about dealing with the maintenance of outdoor spaces. You just need to schedule the use of a space if you choose to entertain guests and focus more on food preparations and the like. Choosing a condo over a house is already looking like a good investment, isn’t it?

Plumbing, electricity, and other home repairs won’t have to be done by your partner, even if they are an experienced handy person. All it takes is a phone call to report any issues, and you can have peace of mind that professionals are taking care of the situation. Or you can hire your own designers and handy people to work on your condo home. You just need to get approval from the Condo board.

Shop for Your Next Real Estate Investment with Susan

Keep in mind that city restrictions will eventually become more relaxed, allowing for more open houses to be available, as well as a higher supply of houses and condos. Susan Macarz can help you buy or sell your house, rental property, or condo. Contact her today!