Relocating to a new city involves a lot of work. One of the first things to iron out before making that big move is to decide which residential property to live in, whether a house or a condominium. According to Garry Marr of the Financial Post, more Canadians are now actually choosing to live in a condominium rather than a home.
A new survey released from Statistics Canada says one in eight households in Canada now live in a condominium, as the dream of a detached home with a yard fades.
It’s the first time the federal agency’s National Household Survey looked at condominiums in their entirety, including renters and owners, but the consensus in the industry seems to be that condo living is on the rise in urban centres.
Also clear is the push into condominiums is having an impact on Canadian home ownership levels which continue to rise, reaching 69% of households in 2011, the year the survey was based on. Only 60.3% of households owned in 1971.
“I think we are in the beginning of a shift,” says Benjamin Tal, deputy chief economist of CIBC World Markets.
Condos do offer the benefit of affordability compared to houses and thus are the more ideal option for those who are starting out with their careers. Condo owners also enjoy the advantage of low maintenance, something that is favorable to those with cramped work schedules and demanding bosses. They only have to pay the appropriate association dues, and any problems they have with their condos can be taken care of by the in-house maintenance staff.
On the other hand, home ownership affords the benefits of freedom, independence, and privacy. Once homebuyers have made their choice from among many wonderful Calgary homes for sale, they can implement their own design ideas and maybe even consider home additions like a nursery or a playroom (if raising a family is in the cards). They can host as many parties as they like and relax during their free time without any bother from neighbors; these are almost impossible in condo settings, where occupants live in such close proximity.
Condo living does offer its share of benefits, but homeowners who value freedom, independence, and privacy more than anything else will find house ownership a lot more suitable for them. They are in luck if they choose to settle in Calgary as they have a lot of options here. For them to view the homes for sale in Calgary and determine which is ideal for their lifestyle and needs, they can seek the services of qualified realtors in the area like Christine Ordze.
(Article Excerpt and Image from Will rising prices force Canadian families into condos?, Business.financialpost.com, Published 9 November 2013)