Viva Urban Condos

As each year passes on the calendar condos are becoming a larger share of the total Toronto real estate market. The board can regulate everything from the size and number of pets you’re allowed to the number, the color of your townhouse exterior, and the ages of the people living in your unit. Finance mails Condo Tax Benefits Letters to boards and managing agents outlining each unit’s tax savings for Condo property tax abatements in December of each year.

Finally, since most condos in a community look the same, if there are empty units in your building, those will likely sell first. The greatest difference between a condo and an apartment cost-wise is the way you pay rent, utilities, and additional fees. Most condos attempt to copy apartments, offering similar features that are ordinarily seen in apartments.Condo

Some condos require potential buyers to interview with the association board. In these the trusty is responsible for each and every important activity including the legal activities of the zone of selected condominiums. Homebuyer advocates are wary of buildings in which a large percentage of the units have been rented out by their owners.

A condo conversion is an apartment building that has been converted. Both condos and townhouses are what is known as “Common Interest Communities”. Most waterfront condos come equipped with balconies, too, so waterfront entertaining, or just enjoying a fresh water breeze can become a lifestyle reality.

They also hold many more residents, so they will be busier and less private than low rise condos would be. Keep in mind also that the relative amount of patio space to the number of units will be greatly reduced from a low rise’s. The Brooklyn building with the most sales was the Greenpoint, at 21 India Street, with 63 units sold at a median price of $1,535,456, making it the only building outside of Manhattan where the median price surpassed $1 million.