Pros and Cons of Condo Living
What are the pros and cons of condo living? Thats what I am going to talk about right now.
Pro #1, Amenities: Imagine living like you travel. New Condos, have outdoor spaces to walk your dog, swimming pool, sauna, gym and party room. Plus most new condos are build by rapid transit, shopping and recreation centres.
Pro #2, Low Maintenance: If you are not a handyman, and the thought of picking up a hammer or using power tools is something you dread, condo living maybe your thing. Just think about the last time your tried to assemble something bought from Ikea. Oh goodness you know what I am talking about. The strata will maintain everything on the exterior of the building including the landscaping all you need to do is to maintain whats inside your unit and pay your strata fees.
Pro #3 Affordability - Condos are priced for much less than a house. I am talking about average prices here. The price gap between a condo and a single detached home in Vancouver is about $750,000. For the price of a house you can buy two condos.
Con #1 Strata Fees are out of your control - Strata fees are fixed by your strata council, and you have no control. Each year the strata council will create a yearly budget and in that budget they will determine the amount strata fees you need to pay.
Con #2 Really Bad Bylaws - when you are living in a condo, you are living with a community of residents. You will be living with all types of people. Thats where the strata comes in and develops a set of bylaws. You are truly at the mercy of the strata council. Imagine living in a building and being forced to leave when you realize you a pregnant. Bingo some buildings have age restrictions. So if you plan in buying a condo make sure to read those bylaws.
Con #3 Noisy Neighbours - when you are living in a condo you literally are living beside, above or below someone. If the walls are thin enough you may hear them singing karaoke at 11:00 at night. I mean karaoke is ok, but please sing only if you are good at it.
Question of the day, would you consider living in a condo? Yes or No Please leave it in the comments below. I will try my best to personally answer all comments myself.
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