Why You Should Consider Condos as Part of Your Home Search

Exploring Calgary Real Estate: A Wise Investment Choice

Regarding the Calgary real estate market, one thing to consider is that condos generally differ from single-family homes in terms of average space and floorplans. However, that size difference is one reason condos can be more affordable, especially in today's real estate landscape. According to a recent report from realtor.com, condo buyers in Calgary paid roughly 7% less for their homes than buyers of other housing types last year. With rising mortgage rates and soaring home prices in Calgary, the relative affordability of a condo could be worth considering, especially with the guidance of the best Calgary realtor, Peter Eki.

Remember, your first home doesn't have to be your forever home. The important thing is to get your foot in the door as a homeowner in the Calgary real estate market. Buying a condo now can springboard you into a bigger home later on, and a trusted Calgary Realtor, can help you navigate this journey. An article from the Urban Institute explains:

"Because condos and co-ops are generally more affordable, they tend to help first-time homebuyers in Calgary step onto the first rung of the homeownership ladder. These buyers often use the equity on their condo to then purchase a larger single-family home."

In other words, owning a condo in Calgary will help you start building wealth in the form of home equity. In time, the equity you build with the guidance of can fuel a future purchase should you decide you want to buy a home with more space or different amenities in the Calgary real estate market.

Calgary Condo Living Provides Several Great Perks Boosting the number of options in your budget during your home search in Calgary is just one reason to consider condos, but there are several other benefits to condo living.

First, they tend to require minimal upkeep and lower maintenance – which can give you more time to do the things you enjoy. A recent article from Bankrate highlights this, saying:

"Condos can be a good option for anyone who wants to keep home maintenance to a minimum . . . if the roof is leaking or the carpet in the lobby needs to be replaced, that's not your responsibility — the condo association handles those duties."

Plus, since many condos in Calgary are located in or near city centers, they offer the added benefit of being near work and leisure. Again, realtor.com explains:

"Buying a condo in Calgary, which is generally less expensive than a single-family home, enables a household to afford to own in the middle of it all, and often means a newer-built home with less maintenance responsibility."

Ultimately, owning and living in a condo in Calgary can be a lifestyle choice that suits your needs and budget. And if that appeals to you, they could give you the added options you need to buy your first home in the thriving Calgary real estate market.

In Conclusion, Adding condominiums to your housing search in Calgary could be a great move, and Peter Eki, the best Calgary realtor, can guide you through the process. If you're ready to search for Calgary real estate investment opportunities, connect with Peter Eki, your trusted Calgary Realtor, today to explore the various options available to you in the vibrant Calgary real estate market.