Will you buy a townhome or condo?
January 21, 2019
Whether you are planning to purchase your first home, or you are finding a different home to suit new needs, it is one of the biggest decisions you will make in your lifetime. Yet, once the decision to buy is made, the options available can feel overwhelming. How do you best choose a home to suit all your needs? What options should you consider? If your budget allows, you will have to decide whether to opt for a condominium or a townhome. To do so and alleviate discontentment later, it is important to ask yourself some serious questions before committing to a contract.
The first thing to think about is what size is going to best serve you and your family as they currently stand and possibly evolve in the years to come. For some, a condo with a smaller square footage, one bedroom, or a single floor will be enough.
Others may require the multi-level functionality of a townhome, prefer the easy accessibility of a private front door, or decide that quick access to the outdoors without having to use an elevator is necessary for their canine companions — an option that many townhomes provide.
Another consideration to make is how much time you want to spend caring for your home. No itch to garden? With limited outdoor space, a condo may suit frequent travellers or someone more interested in hosting summer get-togethers on a patio. However, some new homeowners are looking for a sense of community and may be attracted to a townhome development that gives them more familiarity with their neighbours, all while maintaining more privacy than a multi-unit building provides.
People’s needs vary widely. What works for you and your family may not be the same as what works for someone looking to downsize. The important thing is to make sure you are addressing and prioritizing what is important to you, so your new home can reflect these concerns.
Once you have done that, you will be one step closer to home sweet home.
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About Cameron McNeill
Cameron McNeill is co-president of MLA Canada, a comprehensive real estate service provider in Canada. Partnering with residential developers, MLA Canada offers an unmatched level of expertise in advisory services, market intelligence, project marketing, sales, customer care and administration.