Interested in Buying a Condo? Here’s the Top Benefits of Condo Living

This post is written by Trusted Partner, Equiton. To become a contributing editor, please contact our Real Estate Investor Solutions Specialist, David Maxwell at david@reincanada.com.

Living in a condominium has become an increasingly popular choice for many Canadians, and for good reason. Whether you’re a young professional, retiree, or a growing family, condo living offers numerous benefits that cater to your specific lifestyle.

With health and wellness concerns becoming more of a focus for Canadians, the benefits of condo living are changing people’s way of thinking about housing. Moving away from the narrow view of single-family detached homes, many people are seeing condos in a new light especially amid the continuing housing affordability crisis.

Ideal Locations to Suit Your Lifestyle
Unlike suburban neighbourhoods, condos are often conveniently located in urban centres, close to businesses, shopping, dining, and entertainment. This means less time commuting and more time enjoying everything the city has to offer. With nearly a third of Canadians wanting their commute to be less than 15 minutes, condos can often reduce your commute to a short walk or transit ride.

Environmental Benefits
Less commuting contributes to a smaller carbon footprint, as shorter travel distances lead to lower emissions. Condos in urban areas support eco-friendly living through strong walkability with easy access to essential services and leisure activities. Additionally, many condos are situated near transit hubs in major cities, further promoting the use of more sustainable travel methods. Newer condos also regularly use sustainable building practices and incorporate environmental systems into their plans like rooftop gardens and green spaces, waste and recycling management programs, geothermal heating as well as energy-efficient appliances.

Cost-efficiency
Heating and cooling a large single-family home can be expensive. Condos, on the other hand, offer a more efficient and budget-friendly alternative. With shared walls between units, condos benefit from natural insulation that minimizes energy waste leading to lower utility bills. In addition, many newer condo buildings are designed with energy-efficient features and modern heating and cooling systems that further enhance cost savings and contribute to a more sustainable lifestyle. The use of energy-efficient appliances, lighting, doors and windows also assist in the cost effectiveness of condos. As a result, living in a condo can be more environmentally friendly while providing financial savings.

Removes the Burden of Property Maintenance
Say goodbye to mowing the lawn and shoveling snow. In many condos, the condo association takes care of all exterior maintenance, repairs, upkeep, snow removal and landscaping. Without these time-consuming chores, you can fully enjoy your home and make the most of your time.

Peace of Mind
Condo buildings often feature secure entry systems, concierge services, and on-site security personnel, providing residents with an added layer of protection to ensure they feel safe and secure in their homes. This level of security also benefits your deliveries, offering a significant advantage for residents in an era where one in four Canadians have reported package theft.

A Sense of Community with Amenities
Living in a condo can foster a strong sense of community. Many buildings feature common areas, lounges, and event spaces providing opportunities for residents to meet their neighbours and form connections. The range of amenities often available in condos creates convenient settings for socialization and relaxation. New developments, such as Equiton’s KüL Condos, go a step further by incorporating thoughtfully curated amenities, including a natural meditation zone, infrared sauna, cold plunge tub, fitness centre, Kid Zone, and EV visitor parking. These amenities enhance residents’ lifestyles and contribute to a vibrant, interconnected community.

Investment Potential
Buying a condo doesn’t necessarily mean you intend to live in it yourself. Condos present an attractive investment opportunity, providing potential rental income and the possibility of long-term appreciation. In thriving urban markets, condos can be particularly lucrative due to the high demand for convenient and affordable housing options. By renting, you can generate a steady stream of passive income to help offset mortgage payments and other expenses. Additionally, due the nature of the building, condo units require much less maintenance than a single-family home, making them easier to manage for landlords.

The Profitability of Condos

Renting out a condo isn’t the only way to profit. Equiton sees the benefit of condo living and the value of bringing much-needed units to the Toronto housing market. With three mid-rise condo development projects currently underway, Equiton, through its development division Equiton Developments, is crafting carefully curated properties designed with both residents and investors in mind.

Equiton provides two ways to benefit from condos:

• Active Investment: This means buying a condo from Equiton Developments. You can use it as an investment property either by living in it or renting it out to tenants.
• Passive Investment: Here, you invest in Equiton’s development projects as an investor and let us manage the project while you benefit from the projected returns. You can start with as little as $25,000, and you’re able to use registered funds like RRSPs for your investment.

Contact Equiton today to learn how you can grow your wealth by investing in condo development. Interested in buying a condo unit? Visit equitondevelopments.com.

IMPORTANT INFORMATION: This communication is for information purposes only and is not, and under no circumstances is to be construed as an invitation to make an investment in a Fund or offering. Investing in a Fund or offering involves risks. Please refer to the specific security’s offering memorandum for a discussion of the risks of investing in a Fund or offering. PAST PERFORMANCE MAY NOT BE REPEATED. Investing in a Fund or offering can involve significant risks and the value of an investment may go down as well as up. There is no guarantee of performance.