What’s the difference in buying a Condo or House?

Buying a condo can be different in many ways the first major difference is the affordability factor in comparison to single family homes.  As the real estate demand for condominiums is soaring the prices are reaching their peak. Majority of the buyers choose condos as an ideal investment as they are easy to bag a constant income.


It’s all in the scenic view and the modern look nurturing all you wanted in a home. Condominium living is all about providing you with the cutting edge modern features and a feature that leaves you saying wow for a lifetime.  Luxury is the biggest difference when you literally start to compare a condo and a traditional  family house and all the inclusive services come at a price.  So while we all love the spacious gymnasium and the well maintained swimming pool be ready to spend the difference in price.


There is often  a better mortgage deal when you decide to buy a traditional family house. Mortgage for a condo can be a lengthy process as there are a lot of specific rules, regulations to follow with a few negotiations that have to be considered too. Nothing comes easy is well indeed true about buying a condo also “what looks good has to be won with hard work.” It is also important for a home buyer to verify that there are no complications and the property is lendable with no issues in warranty. The best way to find out in depth about the property you wish to mortgage is to seek assistance from your real estate agent


Not many of us pay attention to this but if you are planning to buy a condo as an investment option  pay close attention to the occupancy as this will be the best bet to seek lucrative benefits if you decide to lease or rent the property. Also today there is a great demand for one room plus dens as well as studio spaces in condos so when you are making the final decision to buy think twice.  

So the big takeaway message from this blog is if you are aware about the price and yet are significantly serious about buying a condo it is a great option to start accommodating assets which will secure great value when you decide to retire. Do let us know your feedback? Feel free to share your comments or suggestions. While you’re here, don’t forget to view homes for sale and new listings on Century21President  


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Toronto Condos

Toronto Condos

CENTURY 21 President Realty Inc., Brokerage*
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