Using appreciation as a measure, condominiums in some areas have been as profitable an investment as single-family homes in the past ten years. And in some markets, condos appreciated even more, according to some experts.
While single-family homes have been the preferred investment for home buyers, changing demographics are helping make condos more popular, especially among single home buyers, empty nesters and first-time buyers in high-priced markets.
Especially promising in the London market are the one floor condos which seem to be sprouting up everywhere. Two car garages and open concept floor plans seem to be the most popular. Many of the buyers are even finishing the lower levels.
When deciding between a single family home and a condo consider condo fees, price per square foot, privacy issues and your lifestyle. Do you still want to garden? Are you away a lot? Is maintenance an issue? Does your budget give you the choice between a newer condo or an older single family home?
Contact us for a confidential consultation to assist you in considering all your options.