Do you know condos? They are also termed as condominium and are the real estate property where units are owned individually but the responsibilities like heating, cooling, etc. are shared. In this piece of content you can get to know some bit more about Burnaby condos and why they are attracting investors towards them.
Burnaby condo is lucrative-
Purchasing a condo can be very lucrative as they provide high resale prices as well as rentals. From the point of investors, the return on investment is really good. But, the resale price, as well as the rental of the condo, is dependent on the locality.
Condos are easy to purchase-
Single-family homes might seem better to people but the Condos have lower purchase prices, and so one can enjoy the advantages of owning a house without paying a very high price. Apart from the lower purchase price, condos can boast of a lower cost of maintenance as well. This happens as the costs of living get shared by several individuals in the same community.
They add amenities to increase value–
If you want to increase the value of your Burnaby condo then add amenities like swimming pool, gym, etc. The best thing about the condos is their maintenance is not the responsibility of a single self as everything works in an association.
They are better located-
Most Condos are located in the heart of the city, and so all the major hospitals and grocery stores are expected to be close by. This is much better than homes in suburbs which demand travelling miles to get to an amenity/facility. Also, the better location provides investors with a better resale value of their properties.
Apart from all the above points condos are secured than single homes and will require almost no spending from the side of an individual. Because most of the things are handled by the associations so a condo is something you can confidently chooseand buy to reside.