If you have enough funds to purchase a new property, consider choosing new condo developments in Toronto. A condominium unit may not seem like your typical dream home where you have your own backyard, a garden, and a patio. Nevertheless, it is an ideal dwelling place for families, single professionals, and even retirees—and here’s why:
Live close to everything
Most condo developments in Toronto are in convenient locations where residents can enjoy an easy commute or a short drive to their workplaces. These condominiums also offer quick access to education, health care services, entertainment, and recreational facilities. In fact, many of them are developed so close to the shopping malls, recreational sites, and public spaces that residents can literally walk to these city amenities.
Affordable housing option
Condominiums in Toronto are more affordable than detached homes (like single-family houses). That’s why homebuyers who want to save some money absolutely love them. Moreover, new builds and pre-construction condos also offer better investment opportunities compared to resale units. You can buy them for a lower market price than fully-furnished and existing condos.
Suits your modern lifestyle
Builders continue to roll out the new condo developments in Toronto as a response to the increasing market demands. Their new units come complete with state-of-the-art amenities. Meanwhile, they are also adding more on-site facilities, featuring cutting edge amenities. These condominiums are built with the changing needs and lifestyle of modern homebuyers in mind.
Higher investment opportunity
New condo developments in Toronto are more likely to appreciate at a higher rate than resale units. Why? Because they are in demand. These homes feature modern and luxurious amenities and appliances, which homebuyers find attractive. Generally, people are willing to pay more for a home that has the latest features and state-of-the-art amenities that suit their lifestyles.
Did you know that a large percentage of condominium buyers are active adults and people nearing retirement age? That’s probably because this type of home is similar to maintenance-free communities. You don’t have to worry about maintenance and repairs because they are already included in your monthly bills.
If you’re considering investing in a new condo, browse our now selling pre-con listings.