What on earth do I mean? Well, it’s usual to look for a home in places that are convenient to work and schools. Most folks take the daily commute into consideration when shopping for a home. Why not take the daily, weekly, and even monthly activities of family members consciously into account, too?

Case Study

I once helped a young, single woman named Wendy to find and buy her first home. She worked for Geico, was rising very nicely in the company and wanted a home of her own and the tax break home ownership affords. She asked my advice about choosing, and we had a conversation in which I mentioned many of the sorts of things I’ve said here. We made a list of what mattered to her. Then we went shopping. We looked at a lot of houses. After we came out of each one, we had a talk about how it measured up to Wendy’s list.

One of the houses we looked at belonged to the young woman who later became my daughter-in-law. It was brick, all on one level, had a fireplace in the living room, and had patio doors from the master bedroom and dining rooms to an enormous deck with a hot tub. It was beautifully decorated in a sort of “pared down Victorian” style. There was a brass bed, some wicker, lots of healthy house plants, and a few Victorian pieces of furniture that were actually old, family pieces. Silver framed family photos were clustered on top of the piano.

After we emerged from the house, Wendy started down the two steps to the car and then froze in place. She had the oddest expression on her face. I asked what was wrong, and she began to look sheepish and confessed, “That house is so pretty and so nicely decorated, I just enjoyed looking at it and didn’t give any thought to how I’d live in it. I just wanted it.”

We went back inside. Wendy still admired what had been done with the house, but decided it wasn’t right for her.

Knowing what’s important to you can save costly mistakes. The process of “trying on” a house helps you evaluate what’s important. I think you’ll find it’s worth the effort.

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Alternatively, with a Freehold, the unit owner would personally be responsible for the lotplus the house. There will be no required maintenance feesthat must be paid. The home owner may decide using their discretion whether there exists a need to make any property repairs. Any maintenance or repairs is paid for by them.

The question that needs answering with Condo vs Freehold, is which one would be most cost effective?2
Economic Issues Concerning Condo Vs Freehold
Recent developments have proved buyers today are more fascinated by the content of the property than the choice of ownership. Condominiums certainly can offer a lot in terms of contentand might cost a little less, based on how many properties are within the complex, because the costs are shared amongst the different unit owners. Just take a glance at some of the amenities offered in this sample condominium listing:
- Lap pool and Spa Lagoon pool
- Splash deck
- Attractive water features for children
- Fitness area for adults
- Barbecue Pavilions
- Tennis courts
- Sky Park
- Gym that is also equipped with a steam room
- Jogging Track and suntan decks
- Spectacular gardens It is very unlikely that you’ll find ammenities and features like these with a Freehold property. There is not much of a price contrast between Condominiums and Freeholds nowadays. Think about it. After youacquire a Freehold, you should also pay an additional 2.5 % in stamp duty to the state. Usually, the Freehold property that you acquire may prove to be on the expensive side, which suggests your stamp duty equates to many months wages.
Another thing to consider with Condo vs Freehold is that you are able to rent your own Freehold property and earn some extra income from it, which is important if you purchased the property as an investment. When purchasing a Condo, you are part of a number of owners who are able to negotiate better terms than Freehold propertyowners would be able to get from the banks.
The decision of selecting a condominium or freehold is an important choice, and it will vary depending on the persons everyday living choices. Some adults who want to clear up more of their time and cash to travel, take vacations, and spend time with their children will be more interested to purchasing a Condo over a Freehold.

Whether your still unclear withthe difference between condos and freeholds, you will find helpful real estate information and tips on our website centred on mississauga condos, such as the ovation condos located at 330 Burnhamthorpe Rd.