When looking for somewhere to live, there are benefits and potential downsides to the types of homes you can explore, ranging from your individual needs to the trends in the real estate market. The condo market seems to be ever expanding, yet houses are still widely popular in their own right. Here are some simple pros and cons to the two major options when it comes to Toronto.
One of the primary benefits to condo living is the amenities that often come with it, such as an onsite inclusive exercise room, pool, spa, games, and community events such as barbecues and mixers. Many people appreciate the simple fact that their own unit does not have stairs, making it safer for kids and more accessible for the elderly. There are also fewer individual maintenance matters to worry about, like landscaping and snow removal.
Unfortunately, there is also more beyond your control if and when maintenance issues do arise. Unless you volunteer and get elected to serve on the board of directors, you are likely at the mercy of the members who have to make significant decisions affecting your residence. It is also more challenging to live in a condo while managing strollers and other bulky kids’ items, not to mention a companion or support animal who needs regular walks.
Although townhouse complexes can be run similarly to condominiums with a board of directors, many houses are freehold—meaning it is your own abode and all related decisions are yours to make. Most homes also have a backyard, basement, garage and driveway for more optimal, and exclusive, space and privacy.
In addition to there often being more space for children to run around and play outside, there is also greater ease to entertaining guests—from having fewer worries when it comes to making noise to simple, practical matters such as it being easier to take out the garbage and recycling.
While there are clearly pros and cons to both a house and a condo, the question is: which one are you built for?