Pros & Cons of Strata Living:
With the exorbitant rents in Vancouver now it is almost impossible to qualify to purchase a home anywhere in the lower mainland. For most Vancouverites, the dream your parents worked so hard for, has now become almost unattainable to the average young person who wants to live in or at least close to downtown Vancouver. Buying their own home seems almost impossible now. So, more and more people are looking to buy a condominium as their first home purchase option. But with this concept, comes many questions about strata living overall.
The main question is always about the additional fees that come with the purchase. Do you want to take on the extra burden of being responsible for the repairs and maintenance of the building and common areas with everyone else in the strata? Outside the building as well as inside; in the summer there is always the lawns and gardening to maintain and in the winter there is roof maintenance, snow removal, gutter and flooding to worry about. Nowadays, most buildings offer amenities like pools, hot-tubs and gyms, all of these extras need maintaining. On the positive side, in a condo at least you have all the other owners sharing the financial burden with you.
Rules and regulations are another consideration in strata living you have to take into account and believe me there are a lot of them. Just read any rules and bylaws that come with each and every strata building. Noise, allowing pets, garbage, parking, visitors etc etc….. It’s like reading a novel sometimes with all the do’s and don’t’s of each building. Some people like structure and order so for them this side of the coin would be appealing; others not so much!
In this day and age, the comfort of safety can be a strong pull towards purchasing a condominium as well. Everybody looks after each other and that’s a nice feeling. Especially if you travel quite a bit, you can be worry-free and know someone is watching your property while you are away. This is a great alternative living option for seniors who live alone. Strata living can be a strong community to be surrounded by but what happens if you don’t like your neighbour? Well, this is where you have some options. If you have a problem with noise or smoking that breaks the rules or bylaws, you can always rely on the strata council to step in and help with the problem.
More and more home buyers are looking at condominiums as an alternative lifestyle, as an investment or first step to buying a house. Check out all the relevant information first with your local Real Estate agent before making any major decision. You just might decide this would be a great opportunity for you to become a property owner.
As an experienced Vancouver Property Management company, with offices on the North Shore and Vancouver areas, we have access to the top Real Estate agents in the business and would be happy to recommend someone for you to talk to.Is