You may think a condo is the furthest thing from a single family home, but in actuality, they are identical in many ways (not to mention, generally more affordable). So if you're wavering between buying a new condo or a single-family home, here are a few things you might want to consider before you make your decision.
1. Plenty Of Square Footage
Depending on the unit, your new condo can have just as much (if not more) square footage than a single-family home. Modern apartment condos, townhomes and attached bungalows offer everything from full-sized kitchens and open living areas to upwards of four bedrooms and spacious in-suite laundry areas. Even if you opt for a single bedroom unit, rest assured you'll have plenty of room to move around.
2. Features and Finishes
Quality developers pride themselves on including features and finishes in their condos as a standard. For example, many developers include designer lighting packages, luxury vinyl plank flooring and granite or quartz countertops in each and every unit they build. And, if you prefer to upgrade from the standard, a good developer will frequently offer even higher-end finishes for tile and flooring selections including a variety of hardwood species and colours.
3. Garage Space
It's safe to say most Calgarians appreciate having a garage - especially with our unpredictable weather. Quite often, owning a condo means you'll get your own garage or at least heated underground parking. This is even better than having a single-family home in the sense that you'll never have to hunt for scarce on-street parking.
4. Ease Of Entertaining
Did you know entertaining is just as easy in a condo? In addition to having ample square footage and large open spaces, many units come with their own private terraces, balconies or patios. Some developments even include separate entertainment rooms as part of the community's common property. Here you can easily throw a birthday bash for a family member or have a games night with friends.
5. Maintenance and Public Green Spaces
Unlike single-family home owners, all outdoor maintenance in a condo development is taken care of by the condo board. This means you'll never have to worry about mowing the lawn or shoveling snow. These communities often include well-maintained community green spaces and (as mentioned above) terraces or patios for you to enjoy - also maintained for you.
6. Option For Finished Basements
When it comes to condo living, many don't realize basements are an option! Just like a single-family home, you can talk to your developer about including a finished basement in your townhome, for example. This affords you the opportunity to add extra bedrooms, bathrooms, a secondary living room and more storage space. This is perfect for larger families or those looking to include a secondary suite (check with your municipality to see where these are permitted).
7. Build Your Equity
Like a single-family home, a condo builds your home equity. Because it’s much easier for condos to be built in established neighbourhoods than homes, you may even look forward to increased resale value. Condos are a very popular among home buyers due to their affordability and proximity to amenities.
8. Great Location
Speaking of amenities, opting for a condo means you're choosing to live in a great community that's close to everything you need and more. Multi-family builders make a point of developing in neighbourhoods that have (or will have) nearby commuter routes, shopping, schools, green spaces, entertainment, transit and services.
9. Privacy and Security
Modern condos are built with privacy in mind. This includes a thick layer of soundproofing between you and your neighbours in addition to private outdoor spaces (although it's nice knowing you have neighbours nearby). You can also look forward to the added security that comes with having your own garage or underground parking, a keyless entry system and in some cases, security personnel that monitor the area.
Now that you know the similarities between condos and single-family homes, you'll be better equipped to make the best decision for your unique needs. Be sure to talk to a developer for further information on condo living and why it might be right for you.