When people think of condos, they generally picture high rise buildings composed of apartments. While that’s often the case, condos also come in the form of detached homes and in all different shapes and sizes. What really defines a condominium is the provision of shared spaces or amenities between residents maintained by a management company.
Condo life has tons of benefits not available to those who own traditional houses. It’s a particularly popular form of residence in North America. For example, 13.3% of Canadian households were living in condominiums by 2016, particularly in large cities like Toronto.
Here are six reasons why condo living is the best:
1. Concierge service
Most condos, especially high rise buildings, will have a concierge service. This is building staff employed by the management company who run a reception and security desk in the lobby of the building.
The duties of the concierge include handling package deliveries for residents. This is ideal if you are tired of missing packages that need to be signed for or if you have fallen foul of “doorstep thieves” who steal packages left on front lawns or porches.
The concierge desk also manages a lot of admin and general tasks related to the building such as monitoring the maintenance of amenities, and taking bookings for different amenities from residents.
2. Security
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Another benefit of condo living is the security that having a concierge desk provides to residents. The concierge may have camera access to the hallways and the lobby. They can challenge suspicious individuals as they enter the building and prevent access to the elevators and stairwells.
They are also a good first point of call when it comes to potential complaints or disputes between residents. Since condo rules of residence tend to be clear cut, you’ll have built-in backup in your building staff should a situation like that come up.
3. Amenities
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The amenities available in condominium complexes can vary wildly. Examples of the amenities you can take advantage of in a condo include:
- Gym
- Swimming pool
- Party room
- Games room
- Theatre room
- Outdoor garden or terrace
- Pet care facilities
- Business/meeting rooms
These facilities are shared between all residents as part of the building management fees that are often paid on an annual basis. But they can save you a lot of time and extra fees for things like a gym membership.
4. Build Community
With shared amenities like party rooms, games rooms, and common garden spaces, condo living can bring a real sense of community to where you live.
Management companies will often hold events in these shared spaces to bring condo communities together. For major sporting events or public holidays such as Christmas, it’s common to find condo buildings that host get-togethers for their residents.
5. City Living
Housing markets have soared in many cities around the world in recent years. While house prices climb, first-time buyers have found it increasingly difficult to get a foot onto the property ladder.
Condos help to balance the housing market and are usually a much more affordable option when compared to detached homes in the same city.
This has kept city living as an affordable reality for people who want to avoid long commutes and enjoy downtown life.
6. Building maintenance
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When pipes leak or something goes wrong in your house, it can be a hugely disruptive expense. But with condo living, the management company usually takes ownership of building maintenance. This includes the plumbing and heating system and the regular inspection of HVAC systems and safety measures such as fire alarms.
While you may still be liable for repairs when something breaks inside your unit, the regular maintenance and repairs undertaken by the condo management company takes a lot of responsibility off residents for monitoring and maintaining these integral functions in their homes.
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