By Warren McNeil,

On Monday RE/MAX released a press release about the condo market in Canada. They said that in Toronto 1-3 houses purchased was a condo. They also said that in Kitchener-Waterloo 1 in 5 houses purchased was a condo. So why are people choosing this type of living?

If you are not into doing alot of maintanence, then a condo might be the right fit for you. One of the nice things about condo living is the freedom of not having to worry about any exterior maintanence. If you are not the handy type or you don’t have unlimited cashflow, than the extra insurance you have buying a condo can give you the peace of mind that you might be looking for.

CMHC held their annual housing outlook for 2011 yesterday. Alot of information was discussed. One thing they mentioned was that Kitchener Waterloo is becoming a big city. This means more intensification. Waterloo region is expected to grow to 700,000 people by the year 2031.

In our area right now, high-rise condominiums are the big thing. After the success of buildings such as the Kaufman Lofts  and the Bauer Lofts, more buildings are now being constructed. There are around 10 separate new construction projects in the works right now. Everything from townhouse style condos, downtown high-rise to condos in established residential areas.

If you travel for a living or like to go on vacations for months at a time then condo living offers more peace of mind then detached housing.

Increasing interest for these types of condos and lofts is coming from technology professionals who don’t want the hassles of doing maintanence. Other types of a buyers are parents who are buying investment condos for their children while they go to university. Investors are also looking for affordable rentals. With the higher cost of single detached homes, buyers are now starting to look towards condos as their first home.

In summary, condos are a great option for people who want less maintanence. They fit all kinds of budgets from starter apartment style condos to luxurious townhouses. If you like condo living then you might want to consider living in the Waterloo Region!

Thanks for reading!

Warren & Melanie McNeil | Sales Representatives, Team McNeil RE/MAX Twin City Realty, Brokerage ( 519.579.4110 | 519-498-8118
Connect with us on the following social networks Facebook: www.facebook.com/TeamMcNeilRemax
websites: www.TeamMcNeil.com, www.ClickThatHouse.com, www.KitchenerLofts.com, www.ElmiraRealEstate.ca

By Warren McNeil

Kitchener Waterloo and Cambridge offer a huge selection of condos, lofts or singles. Whether you want to live in a Kaufman loft, a Keats Way condo, a single-family in Doon South or a townhouse in North Waterloo the choices are  endless. But which is the best option?

I have written similar blogs about this topic before but it never seems to get old. I have lots of clients who say to me they would never pay a condo fee. I have other clients who say, they want somewhere that will allow them the freedom to come and go as they please without having to worry about maintenance. Whatever the case is, people have their preference and here are a couple of thoughts to ponder.

One of the cons to condo living is the extra monthly fee you have to pay for maintenance. I had a client say to me recently that they feel that the monthly condo fee is a waste of money. These people lived in a single-family home for 30 years and were used to doing all of their own maintance and upkeep on their house. My goal with them was to explain the benefits of condo living. One benefit I shared with them was that condo living would allow them the flexibility to travel for extended periods of time while leaving the condo unattended. All maintenane and upkeep is taken care of for them. No snow to shovel and no grass to mow.  We have many clients who own condos and lofts who absolutely love that they don’t have to worry about these types of things.

Choosing a condominium over a single-family home is about choosing a lifestyle. If you are used to living in a single-family home then moving into a condominium could be a huge shock to you. But wouldn’t it be great to not have to be responsible for repairs or other maintenance.  What about underground parking or access to a swimming pool? These are all amenities you can expect from living in a condominium.

 Overall, condominiums are a pretty secure investment for buyers over the last ten years. With diligent research on your part, you’ll be able to answer your own “which option is better?” question in the end and feel good about your decision.

Thanks for reading!
Warren & Melanie McNeil | Sales Representatives, Team McNeil
Re/Max Twin City Realty, Brokerage ( 519.579.4110 
8 www.TeamMcneil.com, www.LoftStyle.ca, www.ClickThatHouse.com  
P.S. Looking for a condo or loft, check out our brand new website at www.LoftStyle.ca!

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By Warren McNeil,

If you are on the fence about buying a condo or loft in Kitchener, Waterloo or Cambridge you might want to consider taking advantage of some of the great deals that are currently available. The real estate market in Waterloo Region is really strong and there are lots of upcoming developments in the coming years. Andrin Homes new project in the downtown core just to name one.

If you are looking for a resale condo or loft in Kitchener or Waterloo you might be finding that your search is frustrating you. There are easier ways. If you are looking in the newspapers or other real estate publications you will probably find that when you call the agent the house has already sold. Despite the houses that are selling, there are still many more available. However if you are waiting for them to be advertised in the paper, you could be waiting too long. By the time the property is advertised, it may have already received an offer.

There is lots of choice when it comes to a Kitchener Waterloo condo or loft and I recommend having a realtor setup an automatic search for you. This will not only cut down on the time it takes to find a condo in Kitchener or Waterloo, it will also let you know about the newest listings right away before they even hit the public MLS system. This will give you a jumpstart over other buyers who are still looking on their own without a realtor.

In summary, if you are looking for a condominium in Kitchener, Waterloo or Cambridge and haven’t had any luck finding the right home, then you should let a realtor do the work for you. It will save you time and money and you won’t miss out on a good deal ever again.

For more info see:
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Thanks for reading!

We are a full-time real estate team in Kitchener Waterloo area. We enjoy assisting buyers and sellers with the purchase or sale of condos or lofts in the Kitchener-Waterloo or Cambridge areas. If you would like us to help you with your condo or loft search, please check out our brand-new free search website.

Warren & Melanie McNeil | Sales Representatives, Team McNeil
Re/Max Twin City Realty, Brokerage ( 519.579.4110 
8 www.TeamMcneil.com, www.LoftStyle.ca, www.ClickThatHouse.com  
P.S. Looking for a condo or loft, check out our brand new website at www.LoftStyle.ca!

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1. Things you Need to Know When Buying a Condo in K-W By Warren McNeil Do you have your New Years resolution…
2. Should you Buy a Condominium or a Single-Family Home? By Warren McNeil Kitchener Waterloo and Cambridge offer a huge…

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By Warren McNeil

If you are in the market to buy a house in Kitchener-Waterloo, than you may want to consider buying a loft or condo. There are many condos available that offer a  nice alternative to some of the single detached homes. These condos can sometimes be available for considerabley less money. The only caveat is that you need to watch the condo fee. If the condo fee is too high, it might not be the best value. The other thing you need to watch for is whether heat or property taxes are already included. Once you deduct the cost for heat and property taxes then the monthly fee doesn’t seem so bad. There are a few condos in Kitchener Waterloo area that are quite high but some include special features such as a membership to a fitness centre. If this is not what you are looking for then you are best to keep looking until you find what is right for you.

If you are a snowbird, investor, downsizing, first-time home buyer or someone who is looking for something that doesn’t require any outside maintenance then a condo might be a good fit for you. Here are some tips to ensure that condo living is the right option for you.

1. Maintenance is taken care by condominum corporation. (maintence can  include such things as yard maintance and snow removal)

2. Can be more secure if you buy into an apartment building that has controlled entry. Underground parking is also very handy so that you don’t have to clean the snow off your car in the morning before you go to work.

3. Gives you the freedom to come and go without having to worry about upkeep of the common area. Perfect if you are traveller. No grass to mow or snow to shovel!

4. It is possible to get more house for less money. (keep in mind that you have to add on the condo fee and property taxes.). Do your homework because in some cases the cost can be higher.

5. Condos are very uniform which means that there are heavy restrictions on changing the appearance. (Unless you buy freehold.). This can be a good and bad thing. Good because everybody must conform to the rules and regulations of the condomium corporation. Bad if you want to put up a fence for your dog Fefe and the condo corp won’t allow it. It’s important to decide what you are looking for.

6. Condos or lofts are excellent if you have kids going to University and you want to avoid paying somebody else’s mortgage. Build your own equity! 5 years of equity building could pay for your son or daughter’s tuitiion and then some! Do your homework first so you know what you are getting into. Some people are nervous and don’t want to get into buying investment properties. I can see why people might feel this way especially if you are not familiar with an area or a worried about taking risks. I belieive that if you are financially able to do it, then you should do it.  If you kids have friends that rent, then maybe they can also help pay the rent of your new investment. It’s a win-win situation! We have helped many clients who go to the University of Waterloo, Laurier and Conestoga College who purchased homes and they are very happy that they did.

7. If you are in the market for a home and want modern living, then there is lots of choice here in Kitchener Waterloo and Cambridge. Some really impressive developments are The Kaufman lofts, LeMarche condos (one of my favourites) , Seagrams Lofts, Bauer lofts, Tiger lofts and Mansion Lofts to name a few. These condos have many unique features that will appeal to a broad range of different people and lifestyles.

8. If you have a pet, don’t fret! Several condos or lofts in Kitchener-Waterloo will allow you to have pets. There might be some restrictions but the rules are laid out in the rules and regulations.

9. Some condos come with multiple parking spots as well as extra deeded spots, if not you will need to look into renting extra spots.

10. If you are an investor, you might want to consider filling your portfolio with condos and rent them out. Keep them for several years, build the equity and then sell them. This is a perfect way to invest without spending too much money on multi-family or other types of housing. The nice thing about condos, especially aparment style condos, is that maintenance on the common areas are covered by the condo fee which means there are less expenses. Again it is necessary to crunch the numbers and make sure you know what you’re getting into.

Well that’s all I have to say for now. If you want to find our what condos or lofts are for sale in Kitchener, Waterloo or Cambridge, please check out our new website at www.loftstyle.ca.

Thanks for reading!

Warren & Melanie McNeil | Sales Representatives, Team McNeil
Re/Max Twin City Realty, Brokerage ( 519.579.4110 
8 www.TeamMcneil.com, www.LoftStyle.ca, www.ClickThatHouse.com  

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