<<< back to article list

Affordable Housing: condo townhomes

Blog by Doriana Zohil-Morton, Broker of Record/Owner | November 10th, 2019

Advantages of both house and apartment

In the currently high cost housing market, it is becoming in-creasingly harder for buyers especially those with young growing families to find exactly what they want in a home. Prices for detached, semi-detached and even freehold town-homes have climbed significantly in recent years, making them an unaffordable option - therefore forcing buyers towards the most affordable housing type, condos apartments.

Condo apartments offer affordability, but may not have certain features like an extra bedroom or direct access to a back-yard or patio. Buyers can find the solution for this in a condo townhome, which is not significantly more expensive than a condo apartment. Most condo townhomes have at least three bedrooms and many have a small yard or access to a larger common area where kids can play and dogs can be walked.

The average price in September for a condo townhome in the GTA, was $618,241 compared to $595,013 for a condo apartment. While the average price for a detached house was$1,050,421, semi-detached was $833,790 and freehold town-home was $677,387.

Condo townhomes offer many of the same advantages as apartments. They also have condo fees to pay for maintenance of the common areas. You don’t have to worry about landscaping or snow shovelling, and some townhome devel-opments offer amenities such as swimming pools and fitness centres. However, you may find rules about outside decor, such as painting your garage door or building a backyard deck.

That said, condo townhomes offer the living space of a small home with the convenience of condo living at a much lower cost.

REU © Clear Communications