What Type of Vancouver Condo Should You Buy?

Given how Vancouver’s real estate market is behaving at present, it is not surprising why a lot more people think it better to buy a condo unit than buy a house of their own. True enough, it is estimated that in 2013, more than a million Canadian households owned at least one condominium, either for living or rental purposes. If you want to follow suit, then you should be aware of the various types of condos you’ll find in Vancouver.

Real Estate Tips: Selling Your Vancouver Condo

In recent months, Vancouver condo sales have been going north, especially for luxury condos. If you’re looking to cash in on your investment, now would be a good time to do so.

Of course, selling a condo in a hot market can be challenging due to the presence of competition. As such, you need to find ways to make your condo stand out. Here are some ideas to consider:

Buy a Property or Save for Retirement?

The biggest financial decision for Gen Y-ers these days is to choose between establishing a retirement savings fund and buying a property. Many people in their 20s or 30s can’t afford to have both, so it’s either one or the other. If you’re one of the majority, you need to start thinking about what really matters to you as a financial goal.

A Condo Unit Close to the Skies or the Ground?

Do you enjoy the majestic view from the top floors of Vancouver’s condos? Do you find condos closer to the ground more convenient for your kids and daily baggage?

There’s no concrete answer as to whether ground or top-floor condo units are better. In the end, they’re just like your average living space, just situated multiple floors away from one another. Upon closer look, however, both ground and top-floor units offer practical advantages you can consider when you’re in the market for a condo unit.

Condo units closer to the ground enjoy the benefit of easy access. If you often carry heavy bags, it won’t take you as long to get home to your ground-floor unit than a top-floor one. In addition, you’re generally safer in a fire because you can reach the ground more quickly and escape the building. Ground-floor units are also good if you have kids; they may get tired even in the elevator ride.

Top-floor units have their own pros. A day in Vancouver can get really noisy, but people living on top-floor units will barely hear the sounds of progress. Add the fact that dust is less likely to settle on top-floor units and you have a clean, low-maintenance unit at your disposal. There are also instances when people living closer to the skies can predict the weather more accurately.

A Look at the Advantages to Living in a Condo

Multiple surveys by different bodies, such as Mercer and the Economist Intelligence Unit, all place the Canadian city of Vancouver as one of the top ten most liveable cities in the world. This has been an honor Vancouver has constantly been receiving over the years.

Due to majestic scenery, a vibrant nightlife, and a reputation as one of Canada's largest industrial centers, Vancouver attracts tourists from all over. Some visitors are so enamored with the city that they decide to move in. With a population of 603,500 in 2011 (and still growing), people migrating to Vancouver have been benefiting from the condominium market.

There are a number of advantages to living in a condominium, especially for single people. In general, condominiums are located in important business hubs; as such, employees can live right around the corner from their office. This can save a person a lot of money that would have been spent on fares. Also, condos are typically located near shopping and entertainment centers. As they say in real estate, “location, location, location”.

Condos are considerably safe due to a 24-hour concierge and security staff. Many high class condominiums offer key card elevators that only provide access to public floors and the floor a person's unit is located.

The responsibility for maintenance is generally limited to a person's unit. Outer maintenance such as lawn mowing or shoveling snow is usually the role of a condo's maintenance staff. As such, people that dislike such work find condominium life pleasant.