When we think of family homes, most people think of a detached house in the suburbs with a picket fence and a big backyard. However, statistics now show that around 13% of families in Toronto have abandoned the idea of the traditional family home in favor of condo-living. No longer are condos only for singles and couples. Developers are catching on to the growing number of condo-families and building larger condos with three or more bedrooms and family-friendly amenities. For some families, condos are seen as a temporary arrangement while the save up for a house, but many have grown to love the condo lifestyle and everything that comes with it. Here’s why.
Condos are more affordable
With prices of renting and buying always increasing, the traditional detached home is just too expensive for many families. The price difference between the average condo and the average detached house is around $700,000, leading many families towards condos. This gives parents more disposable income to spend on their children. When you factor in that many condo buildings include swimming pools, sports courts and other entertainment for kids, condo families are saving even more money. Not to mention that many condo families choose not to own a car as everything they need is within walking distance, saving yet more money.
More family time
Most condo parents find that their commute to work is significantly shorter compared to if they lived in a house in the suburbs. This gives them an extra couple of hours per day with the family, rather than spending that time stuck in traffic while saving money and getting some exercise by walking to work. They also don’t need to spend so much time mowing the lawn, shoveling the drive and maintaining their home, giving them even more family time.
Conveniences are within walking distance
Out of diapers? No need to drive ten minutes to the nearest store; many condos have one on the ground floor of the building, or just a short walk away. Condo parents also love that they can enjoy a walk with their baby in a stroller when they need to go shopping or run errands, rather than bundling them into a car seat. Not only is having everything they need close by extremely convenient but, as mentioned earlier, many condo parents also love saving money by not requiring a car.
As the number of condo families increases, developers have begun to provide family-friendly amenities in condo buildings. Kids can enjoy swimming pools, sports courts and play areas without leaving the building. Many condos even have a communal backyard and day care services. Condo-families feel that the communal areas are an extension of their unit, making up for the lack of space they have compared to a house.
Sense of community
The communal areas allow condo families to meet other families in the same building. Their children make new friends to play with, and the parents meet other parents who become friends, babysitters, and a second pair of eyes on their child as they play. It’s a new kind of family community that you don’t get in single-family housing, and condo families love it.