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Why Young Families In Toronto Are Choosing Condos
For more and more Torontonians, the words “Family Home” no longer conjure up images of a house in the suburbs.
Nowadays, young couples with children are increasingly choosing to live in condo communities closer to the downtown core, instead of dealing with the hassle of house maintenance, mowing and weeding, and long commutes.
The last census in 2011 showed that 32% of Toronto households with children live in Condos, and that figure is expected to go up in the next census.
But why have so many young couples opted to raise their children in condos?
Condo communities offer more
When raising children in a condo, it is important to look beyond the limited space of one’s own condo unit.
That is because the real benefit to the condo lifestyle comes from the extensive amenities and the community that one shares the building with.
In lieu of a backyard, most condos have open grassy spaces and/or playgrounds for children to enjoy.
Some new developments have kid-friendly facilities, like play rooms, libraries, kiddie swimming pools, and video game rooms.
And, with dozens (or maybe even hundreds!) of other households in the same community, children can easily find new friends and playmates, and enjoy activities in a more social setting.
For parents too, it can be easier to organize group events, such as parties or field trips, thanks to living in such close proximity to other parents.
All of these benefits can make Condo living a very attractive proposition for couples with young children.
Plenty to do closer to downtown
For parents who explore beyond the condo community itself, living closer to downtown Toronto offers its own set of benefits.
For one, there is never a dearth of nearby activities to keep children excited! The Harbourfront, Union Station, and Ripley’s Aquarium are all short walks or commutes away, and can offer hours of spontaneous distraction.
There is also no shortage of shopping, dining and entertainment opportunities to keep children happy, be it at Eaton Center or at St. Lawrence Market.
Less strenuous on the bank account
Perhaps the biggest benefit of living in a condo: it’s one of the few remaining affordable options for many young families in Toronto.
With average prices for detached houses hovering close to the $1,000,000 mark, many couples who are looking to buy their first home and start a family are realizing that buying a detached house is not in the realm of feasibility.
Condos, on the other hand, can start from the mid-400’s, and are a much more palatable option for many young middle-class families, especially for first-time home buyers looking to take advantage of government incentives.
Raising a family in a condo is not only possible, but even has many benefits.
If you’re in the market for a new condo to call home, check out our listings for preconstruction condos in Toronto, or drop us a line and we’ll find the perfect new home for you.