Article provided by: The Uplands
The real estate landscape of Canada has experienced fluctuations that match the needs of the people and their economic status. Currently, Canada cities are growing upwards and not outwards. This case is because people have already bought land they tend to use for development, and now prefer to maximize it with story buildings.
The demand for residential homes is becoming higher with the influx of foreigners every year. This is especially evident near subway stops and busy industrial areas. It is a better option to purchase a home outside the working life of the city, in an area like Courtice and Oshawa.
Buying a home outside the realm of the city gives you the flexibility between a condominium and a home. It is critical to take advantage of the professional input of real estate experts if you want to be on the safe side of the ever-changing real estate trends.
Condominiums have been a dominant phase of Canada’s real estate business. The inventory of new construction is approximately 120,000 units each year. They have surpassed single-family homes and rentals by tens of thousands. Surveys attribute these numbers to the following factors:
- Growing urbanization
- Increasing population
- Reduction in the community of baby boomers
- Increased affordability of condominiums
- Reduced purchasing price of condos
The reduced costs of condos encourage a sharp increase in renting. This case is because young people do not have a lot of commitment to mortgage payments, as was evident with baby boomers.
The affordability of houses like townhouses has been leveling off in the last couple of years. A survey suggests that these changes have been more rampant in the first quarter of 2019. The gap between condos, single-family homes, townhouses, and semi-detached homes has reduced to historical values.
Some new homes for sale in Oshawa cost a lot less than condos in the bigger cities. The RBC Economic Research states that this setup has driven the reduced construction of condos in the last quarter and the first quarter of 2019.
Why choose new homes for sale in Oshawa?
The typical homebuyer wants privacy and space. They also wish to enough leeway and money in customization and maintenance. This setup would have people sacrifice a short commute to work for a forty-minute drive from a comfortable house.
- The downside of living in condos within the buzz of the city is that you will not have control over the expense of the house.
- The deformation will be quicker because you also lack control of other people within the building.
- You cannot change aspects of the home to fit your desired look or function.
- Condominiums are becoming significantly pricier to maintain. Research reveals that the fee will be at a ridiculous high in the next one or two decades.
- You have a good chance of making a reasonable benefit by selling a home in a growing area out of town, than selling or renting a condominium in the heart of the subway neighborhood.
My Uplands has a gem of a properties that beat a range of condominium options in the city. Take advantage of our reasonable starting prices and secure your finances and lifestyle.