Condominiums have seen a major increase in popularity in the Calgary real estate market over the last 10 years. There are new developments being built all over the city. Condos are an affordable option for home buyers but they aren’t for everyone. Typically, condo buyers are young professionals, couples, or older people looking to downsize to a low-maintenance property.
On the positive side, condos are very easy to maintain. There is no exterior maintenance required by the homeowner. This is a perfect option for people who travel often because they can simply lock the door and be on their way. Many buildings have various security features which offers piece of mind for residents who live on their own. It’s easy to find a condo that is move-in ready. If downtown living is for you, there are condos available at an affordable price to get you near all the amenities of the inner city.
If you are looking for your first condo, keep in mind there are downsides. Condo fees take care of all of the building maintenance and repairs. If a building has undergone extensive upgrades, the condo fees may be significantly higher. I always remind my clients to be aware of how condo fees will factor into their monthly budget in addition to the mortgage payments. Condos are also slightly more sensitive to the real estate market as opposed to single family dwellings. In a downward market, condos may struggle to hold their value. They also won’t appreciate as much as a house. As a condo occupant, you will be required to comply with the home owner’s association rules. This can including restrictions that apply to renovating, pet ownership, and items that you can or cannot leave on your balcony. Buying a condo is a great choice for many home owners because it offers an affordable, low maintenance living alternative, but it is important to understand the pros and cons before you sign the purchase agreement.
Are you looking to Sell or Buy a home in Calgary and need someone who won’t rest until you’ve found your dream home or until your home is sold? I’ll work hard to earn your trust and to deliver exactly what you need. Contact me at 403-589-0004 or at TheHowardTeam.net.
About Bryon Howard
Bryon Howard is a top-producing real estate agent with RE/MAX House of Real Estate in Calgary, Alberta. He and his team sell an average of two homes a week–mostly single-family homes, luxury homes, condos and commercial properties. He is a member of the MLS Million Point Club, which ranks him roughly in the top 1% of productive realtors in Calgary. Bryon is above the pack because he aims not just to please clients but to help them buy/sell their dream home in Calgary at the best price, in the shortest time, and with the least hassle. He is well-equipped to do this with his sterling education, capped by an MBA degree from Athabasca University and degrees from Acadia University, the University of Prince Edward Island and the Universite de Bourgoyne in France.