Traditionally, buying the ideal home meant looking for the largest house you could afford with a big backyard, finished basement, and a garage.
With more and more millennials hitting the housing market as first-time homebuyers, the concept of the "perfect home" is rapidly changing. Unlike their parents, millennials do not share the same traditional values. Instead, they are looking for homes that fit a lifestyle based on enjoying their free time vs. dedicating that extra time or money towards cleaning, making repairs, or landscaping.
It is, for this reason, the new generation of homebuyers have taken to condo-style living as a testament to their lifestyle. If this sounds familiar to your current situation, read on for more information as to how these cost-effective, maintenance-free dwellings can benefit you.
1. Don't Like Cleaning? Perfect!
Having less square footage means less to clean. Spending your weekends vacuuming, mopping, washing windows, and dusting ends up feeling like wasted time. With a smaller space, there's less cleaning involved altogether.
Also, with a smaller space, you may even be able to afford to hire a cleaning service which frees up even more time. Without being tied to a giant house that needs constant attention, your weekends can now be spent traveling, engaging in outdoor sports and activities, or trying out that new restaurant downtown.
2. Leave the Yard Maintenance to the Pros
With convenient condo living, you don’t have to worry about exterior maintenance. That is to say, you will spend little to no time worrying about painting your house, shovelling snow, mowing a lawn, or weeding.
Since the majority of these things are taken care of by a condo association (or board), for a small monthly fee you'll be able to maximize your free time.
3. Affordability for Your Active Lifestyle
Because a condo unit is a smaller alternative to a large home, you’ll benefit from a more affordable cost of ownership. Having a smaller mortgage payment allows you to budget for the rest of your expenses, whatever they may be. It's nice to have extra money each month to take part in leisure activities, ones you may have had to opt out of with the larger payment that comes with a bigger house.
Aside from just the mortgage finances, the energy costs of a condo are reduced as well. Your water, gas, and electric bills would all be lower in a smaller space. Some condo communities even include your utilities in the association fee!
4. The Best Locations and Communities
Living out in the suburbs in a big house with a big yard means a potentially long commute to many of the things you do on a weekly or even daily basis. Do you really want to spend all that time driving to and from work instead of enjoying your evenings? There are a lot of condo developments built in convenient areas for commuting, shopping, restaurants, entertainment options, and more.
Additionally, condo complexes often have a close-knit atmosphere where new friends are just around the corner. You'll be able to connect with your neighbours more easily, developing a strong sense of community and involvement in your shared space.
5. Access to Premium Amenities
Do you have a gym membership? Maybe you pay to belong to a neighbourhood recreation centre? Similar amenities are included in the common areas of many condo communities. Think of how remarkable it would be to take a walk down the stairs and have immediate access to a fitness centre or pool anytime you want. This is the kind of convenience you can expect when you buy a condo in Calgary!
6. Condos Have Your Future in Mind
Throughout your "home" career, it may become the case that a bigger house is, in fact, a good fit for you and your family. Owning a condo allows you the flexibility to sell and upgrade to a home that fits your needs in the future. If you have it paid off and want to use your condo as an investment property, that is another option available to you. Most condo associations allow you to rent out your unit, but it's a good idea to check out these renting resources beforehand so you're prepared.
Depending on your specific lifestyle and financial situation, a condo may very well be the best fit for you. These benefits of condo living in Calgary all have one thing in common: convenience. Consider all the valuable time and money you'll save in a new condo as you look over your housing options.