Condos are becoming an increasingly popular choice as house prices remain high in Toronto. With so much selection in this city ranging from older units to luxurious dwellings in the heart of downtown, it's no surprise that condos are the destination of choice for retiring couples, young professionals, and even young families. They are available in a variety of sizes and types.
So, how do condos work?
Basically, owners hold the title to their units and are responsible for the maintenance expenses of the rest of the property, including common areas like the lobby, hallways, pool, gym and parking lots. A fee is charged every month, which covers water, insurance for the building, maintaining common areas, security, and property management services.
A condo apartment is the most common type: a unit in a building. These have a wide-range of sizes and styles. Some are very opulent, with huge interiors while others are more compact and require strategic planning for laying out furniture.
Townhouse ownership works in a similar manner as an apartment. Maintenance fees are directed towards the upkeep of home exteriors, plus driveways and any recreational facilities such as a pool.
Ownership of a co-op is within a corporation, and the buyer gets a certificate for one or more common shares. Co-op sales are often more difficult: buyers are faced with delays because of the board approval process and; larger down payments are the norm. On the plus side, though, owner expenses are often much less than with a condominium.
What if I have a dog and I want to live in a condo?
As the prices of detached homes in Toronto remain steadily high, more home buyers are turning to condominiums as an affordable alternative. Since having a dog is a must for many, accommodating the dog becomes part of the home searching quest.
What you need to know about buying a condo if you own a dog
We would find out if certain condos accept dogs. Condo rules dictate which types of animals are allowed. If dogs are permitted, then there may be restrictions as to size and weight.
- Don’t be confused by the Residential Tenancies Act, section 14 which states that a tenancy agreement cannot prohibit the presence of animals. This applies to renters only. Condo owners must abide by the rules.
- The Toronto area has a large selection of both older and newer dog-friendly condominiums.
Condo life can be a very pleasant and exciting experience, especially for your dog:
- Socialization: Your dog will make many doggie-friends in and around the building. It is healthy and beneficial for your dog to interact with other dogs on a regular basis.
- Neighbour Networking: You also will make new acquaintances with other dog owners, and possibly set up some dog-sitting or dog-walking arrangements as needed.
- Exercise: Regular walks are a great workout for your dog.
- Adventure: There’s nothing that a dog loves more than to go for a walk. Exploring different areas is interesting and exciting!