Every one of us needs a place for accommodation. Humans are social animals and they like to live in a place which is secure, safe and sound for them and their immediate family. In Canadian metro cities like Toronto, the accommodation is not cheap especially in the downtown area, shopping/business districts and in and around the waterfront area. So it is like a challenge for all of us to get a place where we can live with our family and also within the price range thatsuits us perfectly.
Condos are one of the options for most of the people unless your family consists of more than 10-12 people. While condos are of various size and specifications, it can’t accommodate more than a dozen people. For this purpose, you will need a big house/mansion. But I am sure not even 5% of my readers would require that. So I will focus my entire discussion in this blog on condos and how they are beneficial for people at large.
Condos for the Masses and the Classes
Condos offer anyone looking for a simple enough accommodation or a luxury one as it totally depends upon the requirement of the person looking for it and his budget. There are many reasons why people go for a condo as discussed above and their lots of them like Yorkville condos for sale all year round. The condos are of the better options for people looking for an affordable living with the features and facilities of a penthouse but a price that is not even half of it. This is one reason why people go for condos and don’t even think about penthouses or mansions.
When we talk about condos, first thing that comes in the mind of people is the affordability factor as discussed above but there are condos available for the classes as well. In simpler terms, luxury condos are also available for the wealthy and those who can afford it. These condos offer virtually all the facilities of a penthouse but come little short when it comes to the privacy and some features like shared facilities that a penthouse have exclusively for it.
Why People go for Luxury Condos?
I am sure that this is the first question that will arise in your mind as wealthy people who have all the money they want can go for a mansion or a plush penthouse. Then why would they bother to go for a condo. The reasons are aplenty. First of all, the location of condos in Toronto and many other cities in Canada are worthy of having a second look. Just have a look at any list or advertisement about luxury condos for sale toronto and you will know what I mean.
A condo offers its owner an option to own a real estate that is bound to rise in terms of value. The average price of condos in Toronto increase about 5% per annum. So you can imagine what will be the price of a condo that you will buy for 400,000 dollars within 2-3 years. You can easily earn a handsome amount by selling it and also rent it out if you prefer living elsewhere. This can be really important for anyone looking for a real estate investment in Toronto and don’t want to search frantically for a place.
Final Word
There are a number of other reasons for which condos, and specifically luxury condos, are in vogue now and investors look to buy one for living in an executive-style condo, rent it out or hold it long enough to earn decent profits as a result.
If you want to know more about any of the aspect mentioned in this blog or want to offer something substantial, you are more than welcome. You can also give your feedback for this blog by using the comments section below.