green condo building

Reasons for Living in a Condo

Choosing where we live needs strong reasons. If we go with the flow, the chances are that we are going to experience some sense of regret soon. And once that feeling appears, our life quality might get affected. This situation may even get more intimate to retirees.
The need a living place that can support their later life. They have already passed the golden age, and what they need is a place that can pamper them.

And here, we are going to learn how a condo can become the ideal living place. People think that it is better to own an apartment unit rather than a condo. Or, they may think that residential houses are the best real estate investment. You can find whether those arguments are true or not below.

Condo’s Amenities and Facilities are Plenty

an example of a condo amenitiesWith the same price of a regular apartment unit, you can get more facilities and amenities from a condo. Condos usually have jogging tracks, gym, swimming pool, spa, and massage. The location is also picked carefully by the developer. Unlike apartment units, of which the purpose is solely for residing, condos pay detailed attention to the surrounding value.

Most condos are either built in a place with beautiful scenery or business area.You can click here to learn more. But even when the surrounding is crowded, condos are separated from the area outside. They have gates and parks which gives protection from the traffic and air pollution.

If you buy a condo, you also have the right of joint ownership for the facilities, You and all other condo owners are responsible for the facilities maintenance by paying to the supervisor. Condos have a board meeting to determine what improvement or maintenance needs to be done on the building’s facility.

A Condo is a Good Investment

condo brings profitIn one condo, the price of all the units stays the same. When you sell your unit, you are expected to coordinate with the supervisor about whether you leave the unit properly or not. A condo follows a set of very strict rules about how a unit should look so that the condo management does not experience difficulties when selling it.

That fact makes a condo good real estate investment. But in return, you are not allowed to break the rules of room modification and decoration. Therefore, if you are interested in a condo, you need to be sure about the style in advance.

A Condo Offers Security

a security guard patrolling Condo management controls the security of the building. And as you have already read, Condos have gates and fences to keep it separated from the outside. Thievery and robbery are least likely to happen in a condo.

Now imagine if you live in a house. You need to install a security system that includes alarm, smoke detector, security cameras, and fences. You will also have no one to watch the house, unlike condos which have security guards.…


Factors Affecting the Housing Market in Canada

Many factors affect the real estate market in Canada. These factors are always changing, and they can be overwhelming at times. They can either push the prices downward or upward. This is why the prices of houses or property keep on varying from time to time. These following are the main factors affecting the real estate market in Canada.

Interest rates

interest rate

These are the biggest determining factors that influence the housing market in Canada. The Bank of Canada controls these rates. This is the institution that determines rate used by lenders and banks when they are calculating interest rates on mortgages, refinancing, home loans and second mortgages. There is a high demand for mortgages offered by lenders at low rates. The rates charged by this bank have been going down over the last few years. Probably this is the main reason why the housing market is booming in Toronto and other cities in Canada.

Since the recession that was experienced in the 90s, the Canadian government has been taking action to support the real estate/housing market. This has also boosted the demand for homes. It has been taking actions through monetary policies. These rates have been low since 2008 when the other recession was experienced. The government has also set up other regulations to ensure that demand is at a manageable and reasonable level.


real estate-demand

This is another factor that is closely related to interest rates. Low interest rates lead to high demand. Consumers are interested in low interest loans. Demand is also affected by demographics during certain periods. For instance, it has been predicted that older generations like baby boomers are likely to stay for long in their homes. Young people and immigrants will continue fuelling the market in future.


Migration to cities

Population growth and immigrants mainly support the Toronto’s housing market. It is estimated that about 75,000 immigrants come to this city every year. Again, there has been a high population growth rate over the last two decades. This has, in turn, led to the high demand in the housing market. High demand in the market can quickly or easily skew the housing prices. Even as the population growth continues increasing, the federal government has been softening it by imposing new regulations. Home prices are dramatically affected by the demand. Demand will be very high when you have many new home buyers.…