Things are looking great for Canada’s real estate market. The numbers keep on growing, and it’s certain that Canada’s economy is one of the safest and the most stable in the world.
Kelowna, the largest city in British Columbia, located in the Okanagan Valley, doesn’t seem to be any different from Canada and its welfare. If you’re considering buying a property here, the only question is “What’s the best option for me?”. If you’re on a tighter budget, there are two main options a real estate agent will suggest: a condominium or a townhome.
Before taking a decision go through the advantages and disadvantages of each type of property with your realtor.
What is the difference between a condo and a townhouse?
The main structural difference between these two types of homes is represented by the number of shared walls. A townhouse doesn’t have any shared unit above or below, only on the sides, while a condo has shared walls on each side. Also, townhomes are at least two stories or even tree. A condominium is usually a single story.
Another significant difference is connected to the ownership rights of the buyer. If you own a condo, you have rights that extend only to the unit walls. With a townhouse, the owner usually has rights to the land as well.
Associations within the community
Both types of properties have strata they belong to, with slight differences. When it comes to a condominium, there is a strata run by the owners from a particular compound. They set out the rules and manage the building and the surroundings’ maintenance.
Townhouses also have strata. As well as in the condo’s case, these organizations take care of maintenance and repairs and do require a monthly fee.
Living in a condo in Kelowna, offers you have the advantage of enjoying some great amenities such as a pool and gym, without paying a big amount of money, such in the case of the detached single-unit houses. The security is reliable, and the maintenance costs are low since they are shared by the community of owners of condos from a particular building. The downside of a condo is the lack of privacy and having to respect some rules.
A townhouse has similar advantages. It combines the positive sides of a house and a condo. You can get the amazing amenities that come with a condo, but you can still have some privacy. All these for low maintenance costs shared with the other residents. Even so, if you consider buying a townhouse, don’t forget to ask your real estate agent about the rules and regulations of the community. There could be some high fees, and it’s important to know if they are affordable or not. Also, you have to find out if you can adapt to living in a place with rules that may or may not be ideal for your lifestyle.
Kelowna has many options for people wanting to live here. It is truly an incredible city with diversified listings for Kelowna condos and townhomes for sale in Kelowna. No matter what your final decision will be, these types of properties are well suited for some people and less for others. Talk to your realtor and consider all the aspects in order to make the best decision and choose the perfect home for you.