In recent months, we have noticed a surge of inquiries regarding homeowners who wish to sell their condo fast and either upgrade to a detached property or transition to a rental. Since condos are a unique category of homes on their own, we thought we would write this 3-part blog series about condos. We’ll go over the pros and cons about owning a condo, factors to take note of when you sell your condo, and selecting your next home (whether it is another condo or a larger house). We will first start with an overview of condos and discuss about their perks and disadvantages.
Condos is short for condominiums. They are units in a building that can be bought and sold individually. In several cities across Southwestern Ontario especially near the downtown core, condos are abundant because of the higher population density. While condos are often identified as high-rise buildings, they are also available in low-rise buildings of 3 to 4 storeys or as a condo townhouse too.