Over the years, condominiums have become the new home choice of people of all ages and walks of life. And why not? Decades ago, empty nesters and retirees discovered the benefits of selling their large lowrise homes and opting for a more carefree lifestyle. They were (and still are) happy to leave behind outdoor maintenance and total reliance on a vehicle to take them to run errands, access recreational venues and other activities. With amenities right in their building, convenience was a daily nicety. And with today’s condos situated close to local amenities such as shopping, entertainment venues, restaurants and the like, an outing is usually just a quick stroll, bus or subway ride away.
We are seeing price convergence with High Rise Condos and Low Rise Townhouses. The High Rise units were always less expensive than Townhouses, but that is changing as High Rise building price appreciation rates are outperforming same in Low Rise Townhouse. Who would have thought!