Choosing where to live isn’t always easy. Many dream of having a large house with an even bigger yard. Others prefer a small condo in the city. While there is no “one size fits all” approach to buying a home, condo living does offer some noteworthy financial benefits. Here are a few reasons why choosing to search available condos in Dorval could be a smart financial choice.
1. No Yard Maintenance
If you just want to go home and relax after a long day at work, a condo is right for you. Owning a home with a yard requires constant upkeep. From mowing the lawn to raking leaves to shoveling snow, each season has something that you need to do.
These tasks don’t just take time — they also affect your budget. This is especially true if you hire a company to take care of your yard work for you, which can cost several hundred dollars each month. Even if you plan to do everything yourself, you will still need to buy and maintain yard care equipment, as well as extra products like fertilizer and weed killer.
2. Affordable Amenities
Condo facilities generally come with amenities such as swimming pools, exercise centers, and lounges. Access to these facilities is included as part of your rent or association membership. While this may add to your monthly payments, the total expense will likely be much less than if you were to pay for membership at off-site facilities.
Monthly membership fees at gyms, family passes to a local swimming pool, and other similar expenses can add up faster than you’d think! On-site amenities available at condo complexes are more affordable and more easily accessible.
3. Lower Monthly Costs
For most people, a monthly mortgage payment is their largest household expense. Generally speaking, the more square footage a home has and the larger the property, the more expensive it will be.
Because condominiums don’t have a yard and usually have a smaller floor plan than a house, your monthly mortgage payments will be less expensive. By reducing your largest monthly expense, it will be easier to save money for a long planned-for vacation, a new car, or just as an emergency backup account.
Condo living isn’t for everyone. But if you want to live close to work and other amenities without breaking the bank, a condo can serve as a more affordable lifestyle choice. Better still, you won’t have to give up modern floorpans and luxurious amenities! With the right condo, you can truly get the best of both worlds.