Housing trends have changed immensely over the past few decades, in fact, there has been a noticeable difference because there are fewer houses being sold annually now. Most people are preferring to live in apartments and if not that, they are opting for condos. Now condos can be a great option, it is permanent property ownership and is either close to or in the city district, so its appeal is understandable. You end saving on fuel, commuting cost and, time spent moving around.
You also get luxury because condos are built and centered on modern contemporary designs, so you are going to get your money’s worth when you opt for a condo. In fact, you can check out E2 Condo Yonge Eglinton if you happen to be interesting in buying a condo.
The problem here is that not everyone would like a condo, after all it ultimately comes down to personal preferences and condos do understandably have some drawbacks when it comes to them as well. So, in case you happen to be interested in knowing about them, you can keep on reading below.
While condos do let you achieve property ownership, they are still expensive and their resale price will always be low compared to their original selling price. Along with the monthly amount assigned for your mortgage or rent, you also have to pay an additional Homeowner’s Association Fee. For those of those not familiar with it, the fee covers the cost of maintaining the exterior as well as the amenities that are provided, regardless of whether or not you actually use them. You do not have the complete privacy that comes with a home, and you also have to follow strict rules and policies of the condominium. So, make sure you do your homework before you make your decision.