What property types should you consider when buying a home? Here are some key factors to understand when making your decision!
Condos reign supreme in many Canadian cities, but what about Halifax? First-time home buyers in large metropolitan cities like Vancouver, Toronto, and Montreal are picking condos. This is in part due to affordability challenges with single-family detached residential homes. Take a look at some of the numbers behind Canada’s condo explosion.
Canadian stats – numbers don’t lie
Did you know that 1/3 of new homes built in Canada between 2011 and 2016 were condos, and that 13 per cent of all Canadian households live in a condo? That’s a lot of people. Is it the Gen-Xers occupying all these? No, it isn’t! The age groups most likely are the millennials and the 65+ crowd.
3 Hot #trends for condos
This season’s fashion trends include sequins, pastels, and ruffles, but what about a condo? Mirco-condos are a trend right now. A micro-condo is typically between 300- to 600-square feet. These compact and efficient living spaces are perfect for millennials! #firsthome. Another trend is luxury condos – these are spacious, high-end, and are perfect for downsizing baby boomers. No more shoveling snow or mowing the lawn too! #mimosasforbreakfast. Condo communities are a hot trend right now. Think cool parks, social spaces, co-working spaces, and yoga studios. #downwarddog. Sound good? We also think so!
Halifax’s average condo cost
Here are some stats from realtygeek.com regarding the average prices of condos in Halifax. Average prices range from $194,512 in the north end all the way up to an average price of $510,642 in the south end. Looking for something somewhere in between? Try Halifax downtown, Bedford, or Dartmouth for average prices in the $305,202 – $378,615 range. Of course, how much it will cost you depends on many things such as square footage, number of bathrooms, finishes, parking options and availability, and others.
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