The Fall of Traditional Housing

If you look back at real estate trends from twenty years ago, you will find that almost every single person was striving to buy a house in the suburb. A house with a white picket fence was considered to be the standard for success and was considered as proof that one was a successful adult. Houses were advertised as the perfect environment for having and raising a family, however, with times, and circumstances like the housing crisis, houses no longer have any importance in most adult minds today.

We can blame this factor on the economy and the aftereffects of the housing crisis, but we also need to acknowledge the fact that most millennials today do not see the point in owning a house, if anything, they find it more inconvenient. Current real estate trends actually show an exponential rise in the number of people buying condos instead. Condos, like houses, can be bought, so you can have permanent property ownership over a condo. This increasing demand for condos has resulted in a rise in the number of condominium projects being built annually. The Thornhill Condos is just one example of current ongoing condominium projects happening in your area.

Condos are more expensive than apartment rent, but at the same time, they are a lot less expensive than buying a house, so condos fall into the middle ground in terms of price point, and their affordability factors into their appeal. Of course, there are a number of other advantages and perks that come with owning a condo, but the pricing happens to be a good reason why people gravitate towards them. Plus, their increasing demand also shows a possible likelihood of their prices appreciating in the future, so if you are looking to invest, then buying a condo can be potentially beneficial for you.