I would never buy a condo!

I would never buy a condo!  How many times have I heard a client say this to me when we first start seeing some homes together?   Yet take a look at all the cranes in Toronto, and also closer to home, you start noticing that we are building up, and not out.  The demand from buyers is there, and given that our hands are tied in bureaucracy, we are seeing more and more condos filling our sight lines. But you know what?  It's a great sign of our strong economy, and it also happens to be a great option for many people who simply don't have the time, energy or money to invest in a freehold home.  Condo construction represents a huge boon to our economy.  The list of services employed in the construction of a condominium is as surprising as it is staggering: HVAC, Plumbing, Electrical, Cable, Concierge, Security, Elevator, Designer, Contractors, Engineers, Lawyers, Pool Specialists, Cleaning Staff, Painters, Flooring, Mat Service, Window, Roof, Landscaping, Energy Auditors, and on and on.  Not to mention dental offices, restaurants, coffee shops, fitness clubs, grocery stores, all businesses that can be found in condominiums.  Buying a condominium actually contributes so much more than just a roof over our heads, it's a massive boon to our own economy. Of course a lot of these industries and businesses participate in the construction of freehold dwellings, thereby contributing to our economy in similar ways.  The usual objection to buying a condominium is almost always centered on the perceived notion that one gets nothing in return for the fees paid, and that they only ever go up. Feel free to use the Globe And Mail handy calculator to determine for your situation whether this statement is true or not, but there is no denying the financial return we all get from people buying more and more condos.  So be sure to thank someone who just bought a condo! :-)

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