Low Maintenance Living
Whether retired, semi-retired, or working full time, condo living offers minimal maintenance so that you can enjoy your free time without worrying about yard work or exterior maintenance. In most cases, when it comes to condo ownership, you can say goodbye to shovelling and yard maintenance and instead just focus on enjoying your space. On a similar note, any work you do yourself (think cleaning or minor repairs) often doesn't take as long when you don't have as much space to cover.
Ease of Travel
Low-maintenance condo living is an excellent option for snowbirds who like to travel for long periods or on a whim. While a single-family home often requires a house-sitter or someone to do exterior work while away, you can usually just lock the door and leave when you live in a condo!
Great Amenities
Excellent amenities have become vital selling features of condominiums buildings everywhere and are often included in condo fees. Amenities can range from shared common spaces, event rooms, gyms, saunas, pools, courtyards, community gardens, rooftop patios, shared BBQ areas, yoga studios - the list goes on! Consider what is important to you, and you may be able to have it just a few floors away!
Sense of Community
Living in a condo development often means you'll meet a number of your neighbours, which can lead to a fantastic sense of community. Many condo buildings have regular social events for residents to mix, mingle, and get to know each other. Further - knowing your neighbours and living in closer proximity can also provide a greater sense of security - knowing that someone is nearby should you need them.
Opportunity to Downsize or "Right-Size"
Is your house feeling a little bit empty now your kids have moved out? Realizing having ALL that space just means MORE space to clean? Selling a single-family home and moving to a condo can give you a whole new perspective! Whether you are adjusting to empty nesting or settling into the tranquillity of retired or semi-retired life, your equity can go a long way in the condo market. Downsizing to a comfortable and secure condo can free up money while simultaneously upgrading your lifestyle and freedom - bringing you closer to shopping, dining, amenities, park space, or like-minded people.
Affordability
Condos are often the most affordable real estate options in any marketplace, whether urban or suburban. Buying in at a lower price means lower monthly payments and less risk of becoming "house poor." More so, the Calgary condo market has been in a "Buyer's Market" territory for quite some time, meaning there are many outstanding options at reasonable, entry-level price points. This creates an excellent opportunity for first-time buyers or downsizers.
Investment Upside
With Calgary's condo market experiencing excess supply for several years now, prices have significantly softened. Many savvy investors can now find fantastic opportunities at great price points. In "down" real estate markets, rental markets often thrive, which means this could be a good time to purchase a rental property. Of course, there are many factors to consider when buying a rental property, so we caution everyone to do their research to ensure that they are getting what they expect from their investment. If you have questions about real estate income/investment properties, let us know. We would love to chat!
