Should you move into an apartment or take the plunge and move into a condo? It doesn’t matter if you are looking at an LJM Tower pre-construction or you are aiming to move into a condo or apartment years after they’ve both been built: you need to seriously consider your choice before buying Hamilton real estate. You will find that it is undoubtedly one of the most important decisions of your life so weigh your options carefully. Below are just a few of the things that condos offer that apartment simply cannot.
A wealth of amenities
This is the big one. Condos offer so many amenities that an apartment complex simply cannot touch. For example, many condos feature a small market, exercise space (with some offering a yoga studio), post office, dry cleaning, and more. It’s a way to make life easier to manage for residents residing in Hamilton real estate. Because residents are required to pay condo fees, it is easier to get amenities of this caliber in a condo versus in an apartment complex. Many people prefer to live in a condo versus an apartment for this reason alone!
Condos are (almost) always in a better location
Condos don’t merely attract people just because of the amenities though. Often, condos are also located in some of the most sought-after locations in an entire area. This is all by design: for condos to attract new tenants, they must be located in a place that is most convenient for them. With the condo market still booming in the GTA, Hamilton real estate developers are able to be more competitive where they build their condo. Apartments simply are not as much in demand as condos nor do will they attract the volume that a condo will. It just makes more business sense all the way around to build condos versus apartment buildings: if location is important to you, opt for a condo.
A larger sense of community
The nature of apartment life is different than condo living. For starters, people seem to leave apartments much more frequently than a condo. You typically see condo owners living in their unit for years with many of them choosing to live there their entire lives. Living in a condo is convenient but there’s a stickier reason why they stay: it’s because of the larger sense of community condos provide. Essentially a small town in one building, because so many homeowners are living in such close proximity to one another the people residing in the people form a tight-knit bond that apartment owners simply cannot fathom. Condos create a special kind of magic that bring people together: it’s why so many people choose to live in a condo for the remainders of their lives.
While there are opportunities to buy an apartment unit, many people consider apartments as rent-only units when searching for Hamilton real estate. A condo is an entirely different matter. When someone wants to own a home and wants the convenience of living close things like public transportation, restaurants, the arts, etc. without spending over a million dollars on a home a condo checks all of those boxes. An apartment simply cannot offer this level of convenience. Plus, condos are always in demand because of their location and amenities. It’s just a smart way to own a home without the risk of owning a detached home or living in an apartment that isn’t in an ideal neighbourhood.
Appreciation is slower
It used to be that condos appreciated more slowly than other types of property – especially detached single family homes. Because the demand for condos is continuing to boom, the reverse is actually happening. More people than ever before are saying, ‘no,’ to the high cost of single family homes and saying, ‘yes,’ to the convenience and prime locations of condos. While no one can tell the future, it’s safe to say that at this moment condos are a better investment than almost any other type of real estate – including apartments – due to the value of condos continuing to rise as the years go on in the Hamilton real estate market.
Condo owners are there for the ‘long haul’
If you are ready to settle down, there is no better place to call home than a condo. If you are ready to begin your journey to homeownership, reach out to LJM Developments today and learn about how we can find you the perfect home. Together, we will find you the condo of your dreams