Moving couch

by Paul Golini: Chair, BILD



Condo-living perks people up

A survey of Canadian condo dwellers landed on my desk last week, which really made my day as I learned some great new things straight from the urbanites who recently bought or intend to buy a condo. I'll share some of the findings with you.

When asked, condo buyers said that the most important feature in their decision to buy was good building security and low condo fees. Now that's interesting because condo fees can change, but another part of the survey asked if they were prepared for it and nearly one-third of them said they have a buffer built into their budget.

Not surprisingly, energy efficient building features also ranked high, as did interior design. One interesting finding: a balcony is a perk that many condo buyers look for and it turns out, women are more likely than men to make that a deal-breaker.
The results showing the importance of a parking spot and proximity to public transit were pretty even, which tells me the urban condo-dweller needs options. 

Speaking of options, condominium living is just one of the many housing options for new home buyers in the GTA. Just as the industry has been hearing from its customers, condo buyers in TD's survey said condos are a stepping stone into the real estate market, they require less maintenance and offer more amenities.

Almost one-third of condo buyers surveyed said the main reason for their purchase was the investment opportunity. By investing in a condo, the homeowner can build up equity and move up the property ladder into a townhome or a semi- or single-detached home in their neighbourhood of choice.

Paul Golini Jr. is Chair of the Building Industry and Land Development Association (BILD). You can read more from Paul and BILD by visiting the Association's official blogTwitterFacebook and Youtube accounts.