Here are the top five benefits of condo ownership in Edmonton
Are you buying a condo but wonder if it's the best decision? Or do you have a condo for sale and want some ideas how to market it to potential buyers? Here's a list of the top benefits of condo ownership and five reasons to buy a condo in Edmonton right now.
1. Low maintenance. When it comes to maintenance, it's really a question of how valuable your personal time is to you. With most of us plugged in 24/7, the workday seems longer than ever, making downtime even more valuable than ever. Plus, summer is short and winter is long. The less time spent mowing, weeding, watering, or shoveling and chipping ice, the more time you have for cold drinks on the patio when the sun's out or cozy snuggles on the couch when the mercury dips.
2. Be in the centre of the excitement. One of the greatest benefits of owning a condo is that it allows you to live in highly coveted areas of town - usually central, downtown neighbourhoods - which would otherwise be well out of reach if you were looking at a single-detached home. Central Edmonton neighbourhoods like Glenora, Oliver, Rossdale, River Valley Victoria, Riverdale, and others, offer the absolute best of what Edmonton living has to offer. From access to the city's beautiful river valley to the excitement of downtown arts and entertainment practically at your doorstep, owning a downtown Edmonton condo has some major perks.
3. Lifestyle adjustment. What you may possibly sacrifice in square footage, you more than make up for in terms of extra life in your lifestyle. For condo owners, the space you have is the space you need. You're not paying a mortgage or heating bills for empty rooms you rarely use. Instead, you have the freedom and the capacity to do things like dine out regularly, enjoy sports and entertainment events, or travel the world - all without worrying or breaking the bank.
4. Access to plentiful amenities. Not only does condo living in an urban setting provide access to neighbourhood amenities like great restaurants, entertainment venues, and the beautiful river valley trail system, many condo buildings offer incredible amenities such as a gym, swimming pool, rooftop terraces, entertainment rooms, guest suites, underground heated parking, and maybe even a building concierge or 24-hour security.
5. Investment opportunity. Purchasing a condo as a rental property is a great way to get started with an income property and bring in some extra revenue. While many communities across Edmonton saw a slight decrease in property values in 2016, the communities with the largest gains in value were, not surprisingly, centrally located. The fact that developers are still moving ahead with large-scale residential condo projects is another good sign that the downtown condo market is still considered valuable.
Edmonton neighbourhoods with the largest gains in value:
- Central McDougall: 12%
- Boyle Street: 10.2%
- Queen Mary Park: 6.8%
- Oliver: 6.7%
- Kensington: 5.6%
In addition to the above, there are so many reasons why Edmontonians are - or should - consider benefits of condo ownership. Edmonton is transforming in incredible ways and people are recognizing that there's real value in investing in the rewarding lifestyle that condo ownership provides.