A major benefit of purchasing a condo in downtown Vancouver is variation. Residential buildings fill the downtown core and, as a result, building options are almost limitless. You will be able to choose from a wide range of prices, locations, structures, sizes, developers, and architectural features.
7. Building Amenities
Consider how building amenities can benefit your lifestyle! Would you like to swim laps in the morning? Want to work out without a gym membership? Want to sit in the steam room after a long day? These are all possibilities with condo ownership.
6. Enhanced Security
If you travel for work or spend a lot of time away from home, Vancouver condo living might help put you at ease when it comes to protecting your personal property. Many condo buildings in downtown Vancouver are extremely secure, requiring a Key Fob (a building access device) to gain access to the building, elevators, amenities, and parking and common areas. In addition, many buildings will have a 24 hour concierge or security staff member onsite.
For the vast majority of first-time homebuyers in Vancouver, owning a single family home is not a viable option. Condos can enable people of moderate and middle income levels to get into the market and own their first home.
4. Elimination of Maintenance and Upkeep
Let’s face it: Owning a single family home can be a lot of work! Let a management company oversee the maintenance of your home. Condo owners are charged a monthly maintenance fee, which will often cover costs associated with caretaking, gardening, garbage pickup, hot water, management, and maintenance of building amenities (gym, pool, sauna, etc.).
3. Transitional home
Vancouver condos can work as great transitional properties. They can be a great transitional home for young families looking to grow with the market or, alternatively, a great option for ‘empty nesters’ that no longer need a lot of space.
Condo living offers a great sense of community. Condo owners share common interests – largely related to their investment. Get to know your neighbours while using the building amenities or at strata council meetings.
Vancouver is among the most liveable cities in the world and a hotbed for international tourism and industry. Its real estate market, moreover, has seen steady growth over the past two decades. With extremely low vacancy rates, there’s great investment potential for Buyers looking to purchase revenue properties, whether you are looking to do a furnished or unfurnished rental.