A condo also known as a condominium is a residential complex where there are spate units. Each unit is owned by an individual. The demand for condos is increasing over time due to population and economic factors. Here, we will discuss why buying preconstruction in Mississauga is a better option than an apartment.
Condos have fewer restrictions on pets:
While pet owners are allowed to keep their pets in condos, they must follow certain rules and regulations. Some of these are laid out in the HOA’s bylaws. For example, some condos only allow certain breeds of pets. Others have stricter pet policies. A good way to ensure that your pet won’t cause any problems is to register it on a reputable pet-registration website.
As with apartments, a pet-friendly policy is becoming more popular in condos. However, most HOAs restrict or ban pets, so you’ll want to carefully check the rules before signing your lease. In some cases, you’ll be able to appeal the decision, but otherwise, you’ll have no recourse.
They require less maintenance:
For starters, living in a condo is more luxurious than an apartment, and condos often have better amenities than apartments. Many condos offer gated entrances and doorkeepers. These amenities can help reduce the risk of a break-in. Another advantage of condo living is the proximity to other residents. You can get to know your neighbors much easier when you live in a condo.
They are more expensive to buy:
The price of a condo may be a bit higher than the cost of a co-op, but that doesn’t mean that it has fewer benefits. Both types of properties have a doorman, a building superintendent, and sometimes a concierge. These amenities may be low-key or all-encompassing, depending on the type of property. Ownership of a condo includes an apartment as well as a percentage of the building’s common areas. In a co-op, however, the buyer owns shares in a corporation that owns the entire building.
One downside of a condo is that you’re sharing the upkeep of the community. This means that the association dues can increase over time if you’re not paying on time. This can make it difficult to sell your condo if you ever want to move. Plus, not everyone wants to live in a condo – some people don’t like living above someone else.