Meet the Condo Buyer
Like a condo, a condo buyer comes in many different forms. Single professionals between the ages of 24-35 make up the largest percentage of condo dwellers in Canada. This demographic finds it more affordable and convenient to live in a condo unit rather than purchase a freestanding home. The condo represents a lifestyle choice, offering the independence of property ownership, without the expense and responsibility of a home purchase.
As condos become more popular, young families and ‘empty nesters’ are choosing them as well. Particularly in cities such as Toronto and Vancouver, where housing prices are soaring, a condo offers a great opportunity to either gain a foothold in the real estate market or downsize and reap the benefits of hot property prices. Because of this, the condo is becoming more than simply a box with a bedroom. Condos now boast spacious living areas, second bedrooms, dens and family friendly amenities. Condo living also offers an opportunity to live within walking distance of shops, restaurants, entertainment and work—at a fraction of the cost of a house within a city. By Marissa Ponikowski
