The desire in owning something new has always been there. On the other hand, with the market right now, there are usually great older homes and condos which are renovated with a lot of characters. Here are some of the major differences.
The design and layout
Some of the older condos have bigger layouts compared to the new units that are built today; the bedrooms accommodate more than just the bed and the dresser but the designs of older kitchen are usually smaller and it is separated from the living room. The older designs might need an update or renovation in modernizing today’s concept. You can also see that the balconies are somehow bigger in an older unit.
The choice for the character or the modern exterior will be of personal preferences. The interiors of condos like hallways, lobbies, and other common areas can be easily updated to modern styles.
New condos have an open concept layouts. Overall square footage is usually less leading to small living and bedroom areas. There are places where micro condos are more popular and small units are offered at affordable prices.
If you are looking for new show suites and floor plans, it can be difficult to finalize the outcome size. There are differences between the show suite and final product. The measurements of room are given to measure a room in your home to get an idea to the space you are buying into.
When it comes to the older condos, you can see what you are . The finishing, appliances, the room size, and a lot more. For new condos, you need to be particular in the contract like appliances, floors, and finishing.
There are also redevelopment for the older warehouses or buildings which have been redone to a loft style, and open concept units which have modern looks and character combined.
Location, Amenities, and Lifestyle
All of us give an emphasis to location, amenities, and lifestyle. There are a lot to consider aside from the price alone, and this is a home we are talking about. You need to make sure that this will be a potential home which will meet your desired quality of life.
Older condos usually provide more and larger spaces. Common areas are of great quantities in older buildings like party rooms, fitness rooms, hot tubs, and pools. New buildings have also added a guest suite for the town guests. Newer condos may have updated fitness rooms, bowling alleys, movie theatres and much more. For new condos, the lifestyle is of great importance.
These three factors must play a huge part in your decision. You have to think if you will be close to transit stop or grocery stores. Observe the nature or the culture of the area: younger, senior, quiet, noisy, or a busting looking to live close to others with similar lifestyle.
Investors must look for a unit which is both desirable to tenants and a great business or an investment decision. An investor may want to make sure that the operating costs are covered.