A lot of people prefer settling down in a condominium as compared to a conventional housing unit or an apartment. One of the reasons they are the preferred choice for home hunters is due to the tax deductions that come with it as a result of lower mortgage interest. As you are the owner of your condo, you do not fear being evicted from the property at the will of the owner at any given time as in a rented apartment. According to Journal of Real Estate, the prices of condos do not inflate at a very high rate. This makes them a much better, affordable and convenient option for small families that are looking for their first property in locations where real estate prices are constantly on the rise.
Condos similar to Thornhill Condos by Daniels are also the preferred choice for senior citizens who are looking to purchase a retirement home. Due to the shared and community aspects of condominiums, the social life and togetherness of people is a very attractive advantage for older people who do not wish to spend time in isolation.
Another key advantage of living in a condo is the access to shared facilities such as a pool, a game room, a fitness lounge, tennis or basketball court which may not be an option for most people who have to rent out apartments or small housing units. Moreover, condominiums offer little to no maintenance of the exterior structure as opposed to a single housing unit in which you have to bear the cost of all repairs no matter how big or small they are.
Lastly, condos are also considered a great option for families who wish to have a small home away from home in a vacation spot like Hawaii or in Florida. Such families have their permanent homes in the main cities; however they prefer owning a condo to be used while they are vacationing.