Buying a new Toronto condo is one of many real estate options you can consider, and there are many condos for sale in Toronto and throughout the suburbs. However, if you want to live in the downtown Toronto area, condos and lofts are your primary option to consider. While many people have lived in houses and apartments previously, you may not have experience with a condo and may not be certain this is the right move to make. However, there are several reasons why buying condos for sale in Toronto makes sense, and further research in this area can help you to make a great real estate investment decision.
Low Maintenance Requirements
With condos and lofts, you will essentially own the inside of your unit, and the condo association will own and maintain the common areas and the exterior of the building. This can drastically reduce your cost of ownership, and it can free up your weekends that may otherwise be spent on home maintenance projects. Consider, for example, when you own a traditional single family home, you will be responsible for the care and upkeep on the exterior of the home as well as the landscaping. Many people love condos and lofts because they are easier and more affordable to maintain.
Another great reason to consider investing in condos is because of the availability of amenities and services in many buildings. Amenities and services vary by building, but you may be able to benefit from access to an indoor or outdoor pool, a fitness center, dog walking service, grocery service, private parking and more. These can enhance your living experience in downtown Toronto.
A Fabulous Location
The majority of the condos and lofts for sale are centered in the downtown Toronto area. Living in this prime location puts you close to many fabulous restaurants, parks, museums and entertainment venues. You may also be close to numerous job opportunities. Some who live in the downtown area have sold their vehicles because of how close everything is to their condo. If you choose to do this, you could save a small fortune on transportation and vehicle costs.
Flexible Future Options
Condos in downtown Toronto are in high demand, and this presents you with flexible future options. Some may choose to live in their condo for decades to come. Others, however, may sell their condo for a handsome profit within a few years. Still others may retain ownership of their condo and keep it as an income-producing investment by leasing it out.
As you can see, there are many benefits associated with investing a condo in downtown Toronto. With many options available to consider, now is a great time to begin exploring the listings with your agent. More resources can be found at Reza Afshar Real Estate,or speak with one of their experts if you require additional insights.