After years of living in a house in the suburbs, it may be time to start thinking about downsizing to a condo. These popular residential developments offer numerous benefits, which will have you seriously considering making the move.

Financial Benefits

There are many economic benefits to downsizing; the main one involves increasing your cash flow. Most individuals who decide to downsize from a large house typically make a profit from the sale, as property prices in Canada tend to appreciate on a year-to-year basis.

Therefore, you can use the profit to pay off your new condo mortgage, invest in your retirement fund, or take an extra vacation each year with your spouse. Most condo units are also relatively affordable compared to large houses in the suburbs, so expect a cash surplus.

Less maintenance

We’ve mentioned it once, and we’ll mention it again; owning a condo requires way less maintenance compared to a house. You’ll never have to clean the pool, cut the grass, or do minor repairs. All of these aspects are covered under your condo fees, which are monthly payments to the condo association. This low-maintenance lifestyle allows you to spend more time doing the things you truly enjoy, instead of being consumed by burdensome tasks.

Location

Real estate agents lament the phrase “location, location, location” because it can truly enhance your living situation and positively impact the price of your property. Many couples seeking to downsize are slowly departing the quiet suburbs for the bustling city, where all the action and adventure awaits.

Active Living

During the cold winter months, nobody wants to leave their home and venture to the gym for a quick 30-minute workout. In many of DevMcGill’s condo projects, you don’t have to leave the comfort of your building to stay active. If we take a look at the Beaumont project – which is currently in development in NDG – it comes with a range of luxurious amenities. This includes a fitness room, a landscaped outdoor terrace, a heated rooftop pool, and a chic lobby area where residents can hang out and socialize.

Safety

Condos also provide unparalleled safety and security, as most of the buildings are equipped with sophisticated security cameras and alarm systems. There’s also a strong sense of safety in the condo community, as many residents feel comfortable knowing their neighbours are close by in case there’s an emergency.

Less clutter

Downsizing to a condo forces homeowners to get rid of unnecessary clutter. This process can be a freeing experience and allows individuals to donate, sell, or place items in storage. On the flip side, it even provides new owners with the opportunity to start fresh and furnish their new home according to the latest interior design trends.

If you’re thinking about downsizing to a condo, discover DevMcGill’s innovative projects across the Montreal area. Explore our website for more information or call 514 288-4737 to speak with a sales representative.