August 03, 2014
Simply put, the general case is a house. Done properly a larger house goes higher in value, can be rented for more and doesn't have condo fees associated. Although the condo mangement board is non-profit, they are still very expensive for what they offer.
Now, having said that, there are exceptions. It would be impossible to find a house in downtown Toronto. Yet, downtown Toronto will offer you the better rental investments for your money. Therefore, if you are going to buy a condo for investment purposes, your best bet is in downtown Toronto. If you really want to rent out your property, your best bet is also in downtown Toronto.
A condo also offers less worries because everything is taken care of. This lifestyle is actually catching on as more people are preferring this lifestyle. At least, the single, young adults do and given the trend, the percentage of singles are growing with each year.
I recenty purcahsed a house and the maintenance has become a nuisance. Mowing the lawn, and shovelling the snow appears to be a lot easier than it really is. I made the mistake of buying a corner lot - double the sidewalk and bigger lawn!
My next house will definitely be a small lawn, small side walk house, but not a condo with those overpriced monthly condo fees.
If you have any questions or concerns about these articles, post below :)