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Affordable housing: condo townhomes

Blog by Doriana Zohil, 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. rices for detached, semi-detached and even freehold town-homes have climbed significantly in recent years, making them an unaffordable option - therefore forcing buyers to-wards the most affordable housing type, condos apartments.

Condo apartments offer affordability, but may not have cer-tain 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 mainte-nance 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.

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