According to an Ipsos Reid poll conducted within the past year for TD Bank, more and more urban Canadian homebuyers are choosing Condominiums as their place of residence. The survey polled prospective homebuyers between 25 and 59 years of age now living in Canada’s major cities -- Toronto, Vancouver, Montreal, Calgary and Ottawa – and found that 35% of those polled in these top cities are likely to consider purchasing a condominium as their primary residence.
With more than a third of all survey respondents willing to consider buying a condominium, the group represents people from all walks of life. First time homebuyers and young professionals are attracted to condominiums, including a growing segment of the home buying public – single, professional females. Older couples who are empty nesters or are approaching retirement and want the flexibility to travel extensively are also prime candidates for the condo market.
When asked their reasons for considering a condominium purchase, the Canadians who were polled gave the following reasons:
1. "condos are easier to maintain" (69%)
2. "affordability" (57%)
3. attracted to the "condo lifestyle" (45%)
Perhaps some of the same reasons appeal to you, either as a homebuyer for your own residence, or for a vacation home or income property. If so, then why not talk to your Coldwell Banker real estate professional to find out more? There’s no obligation to you, and it just may be the most important call you’ll make this year. It could be that, like many other Canadians, you’ll find that the condominium lifestyle is the answer to all your home-buying questions.