Skip to main content

Thinking of Purchasing a Condominium?

If you are working to get into the real estate market for the first time, or you want to downsize after your kids have left the nest, a condominium lifestyle can offer freedoms and opportunities beyond the single detached dwelling worth considering at any age. Here are six reasons:

Affordable Lifestyle

Living in a condominium is usually more affordable. It cost less to buy vs. a house, and your mortgage is typically lower. As of June, the benchmark average price of condos as per the Victoria Real Estate Board (VREB) is $416,281 That’s now less than half the benchmark average price of a single detached dwelling in Greater Victoria now pegged at $885,281. Triple Crown’s condominiums in Langford are an even better price. A current example is our 2 bd, 2 bth, 976 square foot, 3rd floor condo (MLS 377098) listed at $389,900.

Selling your paid off family home to buy a condominium can provide you with a desirable nest egg in your retirement years. Or, if you’re just starting out, a condominium is certainly a less expensive way to get into the real estate market.

You Live in a Great Location

Condos are often built in densified areas of a city. That means entertainment, restaurants, and shopping are all close by, and you don’t usually need a car to get to your favourite event. If you’re a professional working in downtown Victoria, the time and money you will save walking to work from your condominium versus commuting from the home in your price range well outside of Victoria is certainly worth considering.

Peace of Mind

A condominium provides the additional security of a two-key system – one for the front door and one for your unit – which makes break and entry less likely. Your neighbours are a kind of built in block watch! It’s hard for a thief to remove large items from your home without being seen by someone.

Live Maintenance Free

Because you are living a maintenance-free lifestyle, you have more time to do what you enjoy doing. All those time-consuming tasks like cutting the lawn, weeding the gardens, and cleaning the gutters don’t exist when you live in a condominium. Instead, you contribute to a monthly fee that takes care of maintenance and repairs. Any large, future costs such as roof repairs or window replacements are usually less expensive in a condominium versus a house because everyone contributes to a contingency fund.

Enjoy More Freedom

When you want to travel, you don’t have to make your plan around house maintenance considerations. Someone else is doing it for you. All you might need to do is ask one of your trustworthy neighbours to water your plants while you’re gone, and you can come and go as you please.

Gain Instant Community

Condominium living offers great opportunities for a vibrant social life in a friendly, close-knit community. You’re going to meet at least one of your neighbours in the halls or by the mailbox every day. If you’re moving to Victoria from another city, being able to access a ready-made community

A condominium lifestyle might be the right choice for you for these and other reasons. If you’re thinking about purchasing a condominium, we would be pleased to guide you through all the factors you need to consider before making your decision and to introduce you to our Triple Crown condominiums in Langford, BC


Todd Mahovlich and Justine Connor

Comments

Popular posts from this blog

Why Investing in a Pre-Sale Condominium is a Good Idea

We are seeing three categories of people purchasing our condominiums right now: young professionals looking for less expensive entrance into the competitive housing market; retirees downsizing from a big family home; and investors who want to buy a unit and rent it out to make a profit over time.
Quite a few real estate investors make a purchase at Triple Crown. That’s because real estate investors are catching on to the advantages of condo pre-sales, especially as the price of single detached dwellings skyrocket and become less financially tenable.
More Time to Save the Down Payment
The advantage of buying a pre-sales or pre-construction condo as a real estate investment is the flexible financial arrangement. If this is your first-time real estate investment, it’s difficult to come up with the required 20 per cent down payment. As of February 2018, the Victoria Real Estate Board (VREB) lists the benchmark price for condominiums in the Greater Victoria area as $463,100. The down pay…

How Quiet is my Condo?

“What about the noise?”
We hear this question time and again. It’s one of the larger concerns our customers have when they are considering a condo purchase.
“I like the idea of the condo lifestyle,” a customer told us. “I’m just not excited about hearing my noisy neighbours on all sides. I like a quiet space.”
We get it. And we feel the same way.
“Did you know there have been recent changes to the National Building Code (NBC) to reduce noise transmission” we asked?
In 2015, the NBC, which is Canada's building code that sets technical provisions for the construction of buildings, was updated to change how builders and architects design for acoustics to ensure you have quieter neighbours.
What is required and how they measure it needs a little explaining.
The measure of how much material can reduce noise transmission is called the Sound Transmission Class (STC). The higher the STC number, the less sound transmitted. The NBC now requires an STC rating of 50. For our technically incl…

Why You Should Choose Condo Living

Living in acondominium is all about lifestyle. It’s a lifestyle that gives you more freedom than a house can, and it’s a lifestyle you can enjoy at any age. Here are five compelling reasons you might not have thought of yet to choose condo living:
You Live in a Great Location
Condos get built in popular areas, and Triple Crown is no exception. Entertainment, restaurants, and shopping are all close by in the vibrant city of Langford. If the great outdoors is more your style, lakes, walking and biking paths and golf courses are all around you. Triple Crown is close to town on the edge of nature.
You Have Peace of Mind and Security
You don’t have to worry about installing alarm systems or video cameras because a two-key system – one for the front door and one for your unit – makes the possibility of robbery slim to none. Your neighbours are a kind of built in block watch! It’s hard for a thief to remove large items from your home without being seen by someone.
You Live Maintenance Free
Becaus…