Real Estate Agent Scarborough

Tuesday Feb 26th, 2019

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Real Estate in Scarborough-Home Buying Vs. Buying a Condo-

 

I get asked this question all the time- “should I buy a Home or should I buy a Condo. The best way to decide is what is going to make you the happiest. But there are definitely things to consider. Home prices go up faster than condo prices in Scarborough so it would be harder to go back to buying a home if you buy a condo and then decide you don't like it. Although if you are willing to wait it out, home prices fluctuate in a cycle whereas condo prices rise steadily. I would suggest to look at some condos if you think you would like to go that direction. Perhaps even rent one for a year or so to see if you will like it.

 

Advantages to a Condo Purchase-

    1. Condos are more dense in areas of commerce so you most likely could be closer to where you work, so you would save time on travel and travel expenses.

    2. Condos do all the work for you. There is no maintenance for you to do, that is a big time saver. The trade off is the condo fees. Many are scared of them, but consider this-most of the time all your utilities are covered by the condo fees.

3. Condos are usually located close to entertainment areas and shopping malls and have easy

access to transit.

4. Condos usually have amenities like swimming pools and gyms.

 

Advantages to a Home Purchase-

  1. Homes allow more privacy for those who want it.

  2. Homes usually have room for outdoor space such as BBQ areas and gardens (although some condos have this kind of space, but it is shared space.)

  3. Homes don't have any extra maintenance fees (but you have to pay utilities and pay for maintenance as it comes up, which can be frustrating.)

 

Overall the choice is still up to you. Quality of life is the key. If you don't want the work and maintenance involved in a home it may be time to think about buying a condo.

 

If you have any questions please give me a call and talk to a Scarbough Real Estate specialist-(there is no obligation).

 

Edward Bulmer/Right At Home Realty Inc. Toronto Cell 647 891 4028 Office 416 391 3232

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