buy a condo in Oakville

Is Buying A Condo In Oakville Right For You?

Friday Nov 20th, 2020

Share

Purchasing a condo in Oakville can be a great option for those looking to get into the real estate market or for those looking to downsize. Condo ownership means you don’t have to worry about the upkeep that comes with a traditional semi-detached or detached home. In addition, condos also typically have a selection of shared amenities that are paid for by condo fees and can be used by residents.

If you think a condo could be the right purchase for you, Sue Heddle Homes can help. With more than a decade of experience as an Oakville realtor, she knows how to help clients narrow down their search to ensure they find exactly what they’re looking for.

What to Consider Before Buying A Condo

Not all condos in Oakville are the same, of course, so it’s best to figure out what your specific needs are before you dive head first into your search. While location and design matter, many people are unware of how much condo fees can vary, so be sure to factor those into your budget so you have a clear picture of what you can afford. If you're looking for something truly unique, learn more about the new NUVO condos now selling in Oakville.

To help you determine if condo living is right for you, let’s take a look at the pros and cons.

Pros

  • Lower maintenance. No grass to cut, snow to shovel or roof that needs repair. This is a huge plus for many people.
  • More affordable with lower property taxes.
  • Better sense of security. Even if the building doesn’t come with security staff, having many other people around can be comforting, especially to older adults.
  • Opportunities to be social. Some condo communities organize social events like pool parties, barbecues and even playdates for dogs or young children.
  • Access to amenities. Depending on which building you select, there is the opportunity to have access to a variety of amenities such as a BBQ area, shared business centre, pool, gym, outdoor space and covered parking.
  • Walkability. Condos are often located close to downtown areas or areas with lots of walkable amenities such as restaurants, grocery stores, hair salons, etc.

Cons

  • Investment risk. Even though you own your own unit, you are relying on other condo owners to keep up with their dues and with their mortgage payments. Failure to do so can lower everyone else’s property value.
  • Less privacy. Sharing walls, floors and ceilings with your neighbours means that noise can sometimes become an issue. It’s also worth noting that some buildings have many renters who may not be as considerate as a condo owner would be.
  • Parking. If you don’t get an assigned spot, you may get stuck lugging groceries or other heavy bags a long way.
  • Storage constraints. Condo storage is often limited to a small locker and there may be no outdoor storage space to use at all.
  • Rules. As a condo owner, you’ll be expected to follow the condo association’s rules and some people can find them too restricting.

Ready to Find a Condo in Oakville?

Your Oakville realtor will advise you that condo living is best suited for people who don’t want to have to handle a lot of maintenance and upkeep. It’s also best for those who think they’ll find great value in the amenities but wouldn’t want to spend money for them all on their own. Condo living in Oakville can be right for just about anyone including, individuals, families, empty nesters and seniors.

If you think the low stress condo lifestyle might be right for you, reach out to Sue Heddle Homes. With proven experience and local knowledge, Sue can help you navigate the process of buying a condo and ensure you get the best value based on your budget. To start your search, call Sue Heddle Homes at (416) 906-7998.


Post a comment