Ownership at lower cost then traditional housing (see financing example)
Comfort and security of neighbors in the “same building”.Easy to travel away knowing your place is being watched.
Monthly mortgage goes toward principal reduction, which builds equity.Rent is an expense with no equity potential.For equivalent living space in a self contained house one is likely to find that a mortgage payment plus condo fees are lower in a condo situation because of minimal maintenance.
If there is no mortgage, rent is an expense with no equity preservation.Your money is “invested” with a condo.This does not erode your current cash equity.
Good starter home.
Opportunity for real estate appreciation, which builds equity.Rent does not.
The comfort of home ownership, which has rewards.
Carefree living.Someone else mows your lawns, plows the driveway, clears the walkway of snow and does light gardening and outdoor maintenance.
Quality construction and quality products will be in your new home.This ensures low maintenance costs and this keeps your condo fees lower.It also enhances value.
Lower maintenance costs than traditional home ownership. This is often a huge savings.
Heating cost less than traditional home ownership since there are less exterior walls and you have new modern construction with enhancement ideas from “Energy Builders Inc.”.
Possibly lower property taxes, as you will share the common walls and common roof, common area, etc.This may reduce your home’s assessment value compared to a same sized traditional house on its own lot.
Shared exterior maintenance costs which are covered in the condominium fees.
Lower insurance costs than a traditional house, with the buying power of 6 owners.
Estate planning feature.Currently seniors going to a nursing home may have to use cash towards the monthly nursing home fees.Seniors cannot be forced to sell their principal residence to pay for care.If seniors are renting, their cash savings may be in the bank, which may be subject to fees for nursing care.Condos are home ownership, which protects the estate value as your cash is in real estate, not the bank.(Please confirm this as those rules often change).
Leave your home for an extended period of time and know that the risk to your home is minimal in your absence.
Easy to sell in a market like Antigonish because of the fact that the Town is out of land.This means less supply of housing which results in increased demand on established housing, such as condos, which are close to downtown.
Comfortable size rooms with plenty of storage in closets and the lower level.
Close to the downtown and all the services of small town are easily accessible.
Less outdoor work and more leisure time.
Proven capital appreciation and good resale in the past 20 units built by Antigonish Condominiums Inc., which is expected to occur on these units as well.
