Toronto, a large city loved by the whole world.
That’s right! Toronto is loved by the whole world. The city is the most diverse of them all in all of the Americas. Other than that, it is North America’s fastest-growing city.
Despite all these facts, what makes Toronto a unique city? It is Canada’s financial capital, yes? Yes, it is. What else, it is abundant with skyscrapers just like New York City. It has landmarks and among them is the C.N Tower. Yes indeed. But there is more to just these facts.
Toronto is one of those cities that curbed suburban and urban sprawl by mixing housing lots with apartment buildings. Though the city is now spreading beyond its traditional borders, apartment-style housing (particularly condos and lofts) are quite popular and are often constructed in the city.
Moreover, Toronto has earned the affectionate nickname ‘Condoville’ thanks to the number of condos, apartments, and lofts constructed and present. Living in a Toronto Condo with amenities has been the Canadian dream for most Torontonians and immigrants alike in Toronto.
Are more Torontonians going towards living in Condos?
For many Torontonians, owning a detached home is still a dream especially for homebuyers. These days, a growing number of families are looking to settle down and live in condos. When it comes to living in condos, there are many benefits associated with it and there is no doubt the right condo unit being a great place to raise kids.
However, one thing should be kept in mind; not every building is completely equipped to accommodate kids and families.
Those who intend to purchase a condo, they should remember that it is important to carefully examine the needs of their family and be completely aware of the features and amenities that are available and that can be able to serve them well shortly.
Before prospective buyers purchase a condo, they should know some things about family-friendly condos.
A shift in demand
Toronto’s real estate faces challenges in affordability. Housing prices in the Greater Toronto Area (GTA) are among the most expensive in both Canada, North America, and the world. Currently, a lot of buyers are in the market looking for studio condos because they are available at affordable prices in comparison to a typical Toronto condo.
Young professionals are not the only ones considering affordable options in housing. Families are also looking for homes and spaces worth their budgets. They are also looking for the same based on their space needs. Hence, condos complete such a requirement.
Preference for an urban lifestyle is boosting the demand for condominium units having larger square footage. With many families used to living in the core part of the city, a move to the suburbs does not appeal to them anymore.
The demand for family-friendly condos is growing and so is the competition. Hence, families looking for a unit that meets their needs is not possible at the moment. Before families decide about the kind of housing best for them, they should always look at the benefits condos have for them.
What benefits families can get by living in Condos?
Families can get the following advantages by living in condos:
1. It is cost-effective
On one hand, the rising demand for condos has reduced the price gap between detached homes and condo units. Yet, on the other hand, the cost difference is of quite an importance for a lot of families. Raising children today is expensive.
When families have to pay less for their homes, such can make a huge difference in their budget. Such a difference in the budget can reduce financial difficulties and allows families to have something worth enjoying; like higher education expenses, memorable vacation, and the like.
2. No need to spend a lot of money on their maintenance
Those living in a detached house can understand how expensive it is to live in one, especially if things like the furnace or plumbing need repair. They also need to spend time mowing the lawn, watering the plants, maintaining the lawn, shoveling the snow off the car way, and then spending on repairs.
In a condo, the amount of money needed for maintenance is different from one building to the other. Condo fees often go towards general maintenance. Hence, condo residents will have more time and money for their families.
3. Convenient living
Transportation costs are high for those who live in the suburbs due to the high commuting time. Living in the city core reduces the time spent in commuting (especially when going to work from home). Also, being closer to school and other amenities adds more to the convenience factor.
Other than that, Urban neighborhoods have a high rate of walkability and offer residents convenient access to urban transportation and transit.
What other things should prospective buyers look for?
Some condos are well designed to meet the needs of families instead of individuals. The following are the factors families should look at when buying a condo:
The condo’s space
Buyers should not just consider the number of bedrooms their family uses in their existing homes. They should look at the amount of living space their families need. Do their kids need a separate space from the living room?
Buyers often underestimate the square footage they will need and also overlook the importance of a functional layout. They shouldn’t be overlooking any of these.
The condo’s storage
Having a family means an accumulation of possessions and this is likely to grow. Among them could be strollers, clothing, toys, books, furniture, etc. A family-friendly condo will provide residents an ample amount of storage space to store these items.
When buyers are considering purchasing a condo unit, they should check all dimensions of closets, overhead cabinets, and storage lockers. If there are a storeroom and a pantry or either present, then its an added advantage.
Amenities friendly for children
Condo complexes having on-site amenities are always at an advantage due to the convenience they provide to residents. If they are friendly for children, then families’ lives are made quite easy. Child-friendly swimming pools, playrooms as well as green space around buildings (especially new projects) are meeting the needs of families.
Other than that, families would consider condos having closer proximity to parks and recreational areas such as playgrounds, soccer fields, basketball courts, skating rings, futsal courts, gyms, and the like.
Conclusion
Families can consider buying a condo, especially the one that is family-friendly, spacious, having a good amount of storage space, near amenities and recreational areas, and most important of all, in a safe area of the city. They can always contact their realtors if they need to find the one that suits their needs in the best way possible.