The Condo and Loft Market in Kitchener Waterloo is Booming

By Warren McNeil,

On Monday RE/MAX released a press release about the condo market in Canada. They said that inKitchener Waterloo Lofts and Condos Toronto 1-3 houses purchased was a condo. They also said that in Kitchener-Waterloo 1 in 5 houses purchased was a condo. So why are people choosing this type of living?

If you are not into doing alot of maintanence, then a condo might be the right fit for you. One of the nice things about condo living is the freedom of not having to worry about any exterior maintanence. If you are not the handy type or you don’t have unlimited cashflow, than the extra insurance you have buying a condo can give you the peace of mind that you might be looking for.

CMHC held their annual housing outlook for 2011 yesterday. Alot of information was discussed. One thing they mentioned was that Kitchener Waterloo is becoming a big city. This means more intensification. Waterloo region is expected to grow to 700,000 people by the year 2031.

condos in kitchenerIn our area right now, high-rise condominiums are the big thing. After the success of buildings such as the Kaufman Lofts and the Bauer Lofts, more buildings are now being constructed. There are around 10 separate new construction projects in the works right now. Everything from townhouse style condos, downtown high-rise to condos in established residential areas.

If you travel for a living or like to go on vacations for months at a time then condo living offers more peace of mind then detached housing.

Increasing interest for these types of condos and lofts is coming from technology professionals who don’t want the hassles of doing maintanence. Other types of a buyers are parents who are buying investment condos for their children while they go to university. Investors are also looking for affordable rentals. With the higher cost of single detached homes, buyers are now starting to look towards condos as their first home.

In summary, condos are a great option for people who want less maintanence. They fit all kinds of budgets from starter apartment style condos to luxurious townhouses. If you like condo living then you might want to consider living in the Waterloo Region!

Thanks for reading!

Warren & Melanie McNeil | Sales Representatives, Team McNeil
RE/MAX Twin City Realty, Brokerage ( 519.579.4110 | 519-498-8118

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Thanks for reading!

Warren & Melanie McNeil | Sales Representatives, Team McNeil
RE/MAX Twin City Realty, Brokerage ( 519.579.4110 | 519-498-8118
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Filed under: Kitchener Waterloo Lofts and Condos — Tags: , , , — wmcneil | Posted: November 3, 2010 @ 3:39 pm

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