Many people who purchase condos think of them as starter units. A condo is less expensive than a house and lets new families buy a place without breaking the bank. However, there's a common perception in BC and the rest of the country that, once a family can afford a home, they will likely sell their condo and buy a house. Then, once they've moved into a house, people are sometimes reluctant to sell it because a condo feels like a "downgrade."
However, in reality, many people enjoy condos and prefer them to a detached home. Here are three reasons why condos might make sense for you, even in the long term!
Lower Cost Of Ownership
While condo residents do have to pay monthly maintenance fees, the total cost of ownership for a condo is often much less than that of a house. In the right area, a Victoria condo can be nearly half that of a home. You save on property taxes, while still having equity in your place. There is a lot that can go wrong with a home. Every time something goes wrong,...