Condominium living is a lifestyle. It's very popular amongst young professionals, couples and retirees. The benefits of a condo lifestyle are many. Great amenities, luxury, living maintenance free(cutting grass, snow removal) and affordability are just a few to mention.
In the GTA, we have seen a huge boom in the condo market. Traditionally, the condo market was concentrated in downtown Toronto and the Yonge/Sheppard areas, but recently there have been a lot of develoment and planning in Markham, Vaughan and of course Missisauga.
Incertain parts of the GTA, home ownership is difficult to attain for a lot of first time buyers, due to affordability. A condo gives them a good alternative.
Is it better to buy new or resale? This question has no right or wrong answer, it really depends on your needs. When buying a New-Condo, you have to consider the occupancy date, the deposit structure, occupancy fees amongst other things. Make sure you do your research or consult an experienced realtor who can guide you through this process. Also consider buying at a VIP event if New Condos is the way you want to go.
When buying a Resale-Condo make sure your agent is looking after your needs and pay special attention to maintenance cost and what it includes, amenities, age of building and the overall condition of the building. I generally advise against buying a much older building even though the actual purchase price might be low. There might be significant special assessments ahead.
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