You know you want to get into homeownership, but the idea of mowing lawns and shovelling snow just isn’t your thing. You’d rather spend your time on recreational activities, hobbies, or your side business, and you aren’t interested in losing your weekends to the typical home maintenance routine.
Additionally, you may not want to live in a suburban part of the city, but single-family homes in the urban core are either run down or located in an unsuitable community.
It sounds like a condo is a great option for your needs! Let’s take a look at a few reasons why.
Centrally Located
Condos in an urban core are strategically located to be part of the buzz, or at least a stone’s throw away. In Edmonton’s downtown core, you’ll have walkability to modern restaurants, great shopping, concerts, sporting events, and the spectacular river valley.
To have this kind of accessibility in a single-family home, you’ll need to either purchase a complete fixer-upper or save an enormous down payment for a $1 million-plus mortgage. Those options probably don’t appeal to you. But a condo gives you the prime location without the huge price tag!
Closer To Work
In pretty much any community in any area of the city, there are condos available. You can buy a condo just about anywhere to be closer to your workplace either by vehicle or public transit. And with all the new bike paths popping up in newer communities, you can even cycle to work instead.
If you work in the downtown core, your commute may only be minutes by any manner of travel. Wouldn’t it be fabulous to save hundreds of dollars a month? No more paid parking, driving, gas money and rush hour traffic?
Super Low Maintenance
In a condo, the landscaping, building maintenance, snow removal, and care of amenities are all taken care of by someone else. If you do have green space, you can simply enjoy it without all the hard work to maintain it.
If your life is jam-packed with other things such as long work hours, hobbies, side business, or travel, living in a condo means you will have far more time to do these things rather than all that maintenance and repair work.
Save Money On Memberships
If you have a separate gym membership, you may not need to pay for it anymore. There are some condo properties that offer gym facilities or fitness centres in the building, and the cost for these services are usually included in your condo fees.
By having these facilities right at home, you also save money on the cost of commuting. No need to fight traffic or for your favourite fitness machine.
Even if your property doesn’t include some of the activities you pay a membership fee for, your condo’s location is likely near a facility anyway, so you’ll still save on fuel or transit costs.
Great Investment For Your Future
If you purchase a condo in a premium location, you are making a solid investment in your future. If you decide to remain living in the same condo for a long time, the money you save now on purchasing a condo over a single-family home will set you up for the long run.
If you decide in a few years to move into a different type of home or change locations, you can keep your existing condo as an investment property and have tenants pay your mortgage for you.
Either way, buying a condo now will save you big dollars later, freeing up your hard-earned money for travel, investments, or anything else that fits your lifestyle.
If you want to live in a premium location and not be house poor for years to come, live in a place that’s close to work and great restaurants and shopping, or save your money today for a brighter future, buying a condo is your most appealing option. Think about where the best place for you is. If you want to live right in the middle of everything, consider all the benefits a brand-new condo can bring to your life.