Many people are shifting towards detached condos, and the trend is changing. Even though most of the buyers are first time owners, the popularity of detached condominiums is increasing significantly. Especially in Toronto, the sales of such properties is on the rise.
However, do you know what exactly detached homes are? Do you know what they offer and what are the different things to be aware of?
In this guide, you will get to learn about this type of property and the different aspects associated with it. Find out if detached condos should be your next home or not. Also, explore the different perks and cons associated. Should this be your next real-estate investment?
What is a detached condo?
In a single society, there might be different types of housing. These are known as detached condominiums or in simple terms, single-family houses. Detached condos offer everything that a traditional condo society offers.
Most of these communities can be found close to the city, where there are plenty of basic amenities within walking distance. These condo suites do not share walls with another condominium.
They have separate walls, and they stand alone. However, all the benefits and amenities of the condo living can still be found in this type of living.
Do these suites offer privacy?
One of the most crucial aspects before finalizing a house is privacy. Those who are interested in detached condos, they will get the ultimate benefit of privacy as these are separate buildings.[1]
These are single-family homes with all the amenities and benefits of condominium living. Moreover, detached condos are in well-planned societies. In case you are worried about your privacy, you will not find any sort of exterior hindrances that will trouble you or anyone in the family.
Therefore, you will have your privacy. However, this does not mean that detached condos are completely detached. Since these are a part of the master-planned society, they offer a great social life to the residents. Every resident will have access to the common areas, and that is the ultimate advantage of condo living.
You will not have to maintain the exteriors
One of the major benefits of condo living over single-family homes is the elimination of maintenance. You will not be responsible for maintaining the exteriors and the common areas. You will only be required to maintain the interiors and handle the issues that arise on the inside.
The entire common area, along with the amenities, is maintained by the condo association. Even though you will have to pay a maintenance fee, this is much better than having to maintain the exteriors.
What are the characteristics of detached condos?
You must be wondering about the dimensions of detached condos. Well, this varies from community to community. You can find small, two bedrooms, and even large detached condos.
Some of them can be as large as 2400 square feet or even more. You can find cottage styled houses as well as three-bedroom suites.
In fact, detached condos might look similar on the outside in most cases, but the interiors can vary significantly. There might be appliances of different brands, different finishes, and much more. These are more or less like the traditional condominiums. Moreover, they offer a much more affordable option compared to single-family homes.
The benefits of detached condos
Like every type of house, detached homes also have various pros and cons. As mentioned previously, these are much more affordable compared to some other kinds of housing.
Moreover, living in a condo community, you will have various amenities available in and around the development.
There is also the advantage of added security. Families and homeowners find condos to be a safer option. There are more people around you, and even if you need any help, you can easily get to anyone who lives close to you.
Also, you can find some of the best luxury amenities, such as a swimming pool, gym, party room, and much more. You will not have to travel daily to keep yourself fit if the condo community has a fitness center. Similarly, all of these facilities can be really useful on a daily basis.[2]
Most of these communities are located in some of the best neighborhoods in the city. Residents living in detached condominiums will find themselves close to the major attractions of the city. There will be restaurants, education facilities, and various other retail stores and services.
In fact, commute to the rest of the city will also be hassle-free. Detached homes offer a great housing option for residents of all types. Be it a family or working professionals or bachelors, these condominiums offer an ideal option for everyone.
The disadvantages of detached condos
There are a couple of disadvantages attached to investing in this type of real estate property as well. You will have to live as per the same rules as every other resident inside the community. Even though it might be tightly packed living for a few, the perks associated with detached condominiums are much more beneficial.
Make sure that your real estate investment is after considering all the aspects and how the people living with you are comfortable. However, these provide a great option that offers a vibrant and convenient lifestyle for the residents.
Get value for your money
We have already analyzed that detached condos are much more affordable compared to single-family homes. In fact, the resale value of these depends on the way you maintain your suite and also how well the common areas are maintained.
The maintenance fee is also less compared to the price that you will have to pay to do the same. If you are looking to invest in a new real estate property that enhances your lifestyle, this is the way to move forward.
Living in detached condos come with plenty of benefits that you will not find in another housing type. Live in a luxurious manner with all these stunning amenities and perks at your disposal. Like this article? Be sure to come back visit us for more helpful tips and tricks.
References:
1 https://patch.com/new-hampshire/amherst/home-of-the-week-detached-condo-with-plenty-of-privacy
2 https://www.forbes.com/sites/lenakatz/2018/06/25/condo-amenities-that-improve-quality-of-life-from-thoughtful-to-playful/#2ef50fd83365
