There is a term kicking around called “new urbanism”. A thought that
millennials and Gen Y’s are interested in having shorter commutes, better
walkscores and abundance at their doorstep. This movement is driving demand
in the downtown core and increasing consumption of condo housing.
In my opinion… there is a sweet spot in the downtown core market with
regards to 2 storey and 3 storey Condo Townhomes.Here are a few reasons
that condo towns are a good buy:
1. Let’s face it…. people like front doors.
Whether its taking in your groceries or taking your dog for a walk, having
quick access to outside via a front door is great convenience.
2. Save money on maintenance fees
Condo towns by nature have less common elements. Less hallways, less
elevators, less corridors. This equals more savings in maintenance costs.
3. Its all about the supply
Condo towns are considered medium density, as opposed to high rise which is
considered high density. On the same piece of land, a condo townhouse
complex may have 30 units, where a high rise condo may have 300. I’m sure
you can see where I’m going with this.
4. Second level bedrooms.
I can’t tell you how many times clients of mine have mentioned they like
bedrooms on another floor. This is something a 2-storey or 3-storey condo
town offers that a typical condo apartment doesn’t.
5. Less regulating and ruling
Generally speaking, condo towns are governed by a smaller condo corporation
with less rules than a larger condo development. Makes things a little
easier for visitors, pets and owners at times!
Now… I’m sure there are a lot of negatives we can think of as far as
condo towns go… but in general, there aren’t as many condo towns as there
are condo apartments. That’s undeniable.
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