Pros And Cons: Downsizing To A Condo

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When you find you're using less and less of your home, you want to save more money, or the kids have all moved out it might be time to downsize. But what type of property will you downsize to? Condos are one of the most popular options for people who are in the market for a smaller home. Here are the pros and cons of buying a condo.

Pros Of Moving Into A Condo

Less Cleaning

If most of your time at home is spent cleaning, you will love living in a condo. With fewer rooms and overall less space, your clean up time will decrease substantially. You will have more free time to do more enjoyable things.

Less Maintenance

No longer will you have to mow the lawn, shovel the driveway or weed the flower beds. With less space comes less maintenance around the house. This will start to show in the simplest of ways. Fewer light bulbs to change, fewer leaky faucets to fix, and fewer air vents to change.

Amenities

Each condo building is different, but you will find they all come with their own set of on-site amenities. These can range from indoor to outdoor pools, tennis courts, gyms, private party rooms, roof top patios, community gardens or barbeques. Each of these amenities is sure to excite you and provide you will lots of activities.

Cons Of Moving Into A Condo

Less Space

It is a win-lose situation. Less space equals less cleaning, but it also means limited rooms to move around in. It might mean you no longer can host large gatherings, or you have to give up your personal room. You might also find with the smaller space you have to sell or donate furniture that will no longer fit.

Condos Can Be Expensive

The price of condos can be more expensive then you realize. With the added amenities, condo fees and added services downsizing might not provide you as much in savings as you thought. You end up paying more for convivence.

They Are Noisier

You went from living in a spaced-out neighbourhood to living above and below your neighbours. It goes without saying that living in tighter quarters will be noisier than living in a house. If you are sensitive to sound your ideal condo would be in a bottom, top or corner unit which might be move expensive or not available.

If you are thinking about downsizing talk to us about your options. Perhaps a condo isn’t the right fit for you. Click here to learn more.

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JOSHUA CAMPBELL (@knowledgebrkr)
Real Estate Broker
Coldwell Banker The Real Estate Centre, Brokerage
j oshua@knowledgebroker.ca
249 Avenue Road • Newmarket, ON L3Y 1N8
289.231.0001