Why Condominium is Superior to Other Types of Property

Why Condominium is Superior to Other Types of Property

When we decide to buy a property, we often get confused with its various types. And, we do not know what to consider when thinking of whether to live in a condominium, an apartment, or a townhouse.

The legal ownership

KeyIf you have ever wondered what makes property agencies differentiate a condo from an apartment, then you are in the right place by reading this right now. An apartment is usually a room with a kitchen and a bathroom in it, which is rented for tenants by the owner. And apartment’s owner is mostly a company.

Depending on the luxury grade and the price, an apartment complex can have shared facilities and amenities, such as gym, swimming pool, and garden. And the tenants are not responsible for their maintenance. But again, that leniency is mainly due to the status of the ownership.

LendA condo, on the contrary, is very much like an apartment but can be legally be owned by an individual. You can make a condo as a bank’s collateral so that it will be a very useful investment, unlike an apartment. In terms of legality, having a condo is like having a house under the same building.

The ownership of a house is divided into two categories: individual and joint ownership. The legal status of house ownership is stronger than owning an apartment, even if what you own is a duplex house.

The facilities and amenities

swimCondominiums have a wide range of luxury selection. In Canada, for example, Cresford Developments are famous for their grandiose and extravagant architectures, which are somehow blending in with the local neighborhood. You should check out their website here for more information about the architectural look. There you can find out why living in a Condo, like YSL Residences, can give you more comfort than if living in a plain house or apartment.

For the utmost luxury, condos can go very far with affording ludicrous amenities. Zaha Hadid Architects’ One Thousand Museum in Miami has a helipad on their condos’ rooftop. Armani/Casa Residences in Sunny Isles, Florida, employs personal lifestylists, one for each resident. The lifestylist’s job is to be the fashion and style consultant of the resident.

Condos’ democracy

Because the condos are owned by multiple individuals, the cost of the facilities and amenities is also shared. But because you contribute to the maintenance, you have a voice. In a condo, the residents can elect a board of overseers for the facilities.

You will not experience a sudden change of facility, like if you live in an apartment. And the burden is much lighter than owning a house. If you own a house, all the maintenance costs are your monthly bill. But in a condo, it is someone else’s jobs.

Besides, having a large garden, swimming pool, and gym facility is exclusive to condos. Otherwise, if you force yourself to have them at your house, it is going to be an extravagant expense.…

Benefits of buying a condo in Toronto

Benefits of buying a condo in Toronto

Toronto is among the most vibrant and stimulating cities in Canada. With an excellent entertainment, nightlife, culture and amazing food, the city has come close to major cities in Europe and America. Apart from the excitement and fun activities, Toronto is gaining fantastic interests in real estate. The investment in real estate has been growing by the day. Both condos for sale and commercial real estate is very promising in the area. The success of a business is measured by returns. Investing in real estate in Toronto brings you good returns as well as other promising benefits. Below are some of the benefits that should make you consider investing Toronto’s real estate.

Benefits of buying a condo in Toronto

Affordable

Whether established condos or construction condos for sale in Toronto, both offer a better investment opportunity compared to a single dwelling unit. You can get a condo with the least budget compared to a standalone unit. The prices do not compromise on quality in any way.

Less maintenance

A condo is a multi-dwelling area. This way, maintenance expenses are shared among all the units. This is a great way of reducing the expenses. All condos in Toronto have an association responsible for the lawns, roofs and any other maintenance work. Common areas are taken care of the society employees. You and other tenants should only worry about internal cleanliness.

Safety

Security is more guaranteed in a multi-dwelling area compared to a standalone option. The fact that you are close to neighbors serves as an advantage especially if you stay alone or you love traveling. Shared walls and common areas narrow privacy and protect your interests especially against various crimes. Your neighbors can look after your house if you are away on a trip. If maybe you get sick alone in the house, they can help by calling the ambulance for you.

Social circle

Standalones offers great privacy. It, however, deprives you the joy of socialization and interactions. Renting a condo in Toronto means you will be sharing common areas like the garden, laundry area, and the swimming pool. Such gives you an opportunity to interact with your neighbors. If they are good people, you will enjoy the pleasures of interacting with people of the same social class. You do not have to worry about your house privacy because it is enclosed within the walls of your house.

 

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