Many people have the objective of investing in real estate because it does not only provide long-term stability but also the possibility of passive income. An appealing offer in a world where financial stability is of the utmost importance is the possibility of transforming your property into a rental that...

Are you considering upgrading your condo in Toronto to increase your rental potential or find a more ideal tenant? Whether it’s a fresh coat of paint, a more involved renovation, or smart home upgrades, enhancing your condo not only improves your living space but also increases the overall property’s value. This article...

The real estate market, especially in Toronto, continues to change and with change comes opportunity. In 2024, condo investors face a unique set of challenges and opportunities, especially with potentially fluctuating bank and interest rates. This comprehensive guide aims to navigate the intricate landscape of Toronto's condo market, providing valuable...

Are you thinking of purchasing a rental condo in the Toronto area? There are many things to consider when it comes to becoming a rental property owner. You have to consider things like resale value, any renovations you’ll need to make, comparables, what amenities exist, and what the rental market looks...

As Canada's largest city, Toronto has consistently demonstrated a vibrant real estate market, especially when it comes to condo suites and even condo rentals.With the economic markets changing, interest rates fluctuating, immigration into Ontario increasing and the demand for urban living back in full swing, condo management practices have evolved...

If you're a condo owner in Toronto or considering buying a high-rise unit for the use of passive income, there's one thing that shouldn't be an afterthought: Condo Insurance in Toronto.  While city life, amenties, convenient living and stunning skyline are often the selling points, a robust insurance policy for Toronto...

The exciting city of Toronto is known for its skyscrapers, lively and diverse neighborhoods, and a Canadian hub for culture, opportunity and business. One thing the cityscape is peppered with is condominiums—those shiny high-rises that offer a slice of the urban lifestyle.  However, owning or managing a condo in Toronto is...

Toronto's urban sprawl tells a story about how we used to live: detached house, full yard, and space as paramount.  But with micro condos—condos of 500 square feet or less—making up 11% of the new condos coming onstream in the GTA this year, the shift from car culture to transit-friendly, neighbourhood-centred, community culture is in full swing, as Toronto buyers and renters are embrace the advantages of a clean, compact lifestyle.

Here are four ways choosing condo-sized living can change your day-to-day routines—for the better.

 1) Say goodbye to high heating and utility bills.

Most condo corporations don't meter out heating, water, and hydro costs on top of your monthly rent: They combine those costs, along with your share of any major capital repairs, into a fixed monthly charge called condo fees, which are set by the condo board.  The budgeting benefits are part of what's attracted buyers and renters of all ages to condominium living.  The next big cold snap won't wreck your budget once the heating bill comes in, and fluctuating hydro rates are absorbed and evened out over the year.

On top of that, your share of your building's condo fees is allocated based on the square footage of your unit—anywhere from 50 cents to a dollar per square foot, depending on the age of the building, how many amenities it contains, and how many units are there to share the load.  So a smaller unit means a lighter load when it comes to condo fees—and your entire utilities and heating bill, letting condo owners keep their costs down and condo renters, more often than not, see their entire utilities bill included as part of their monthly rent.

The Toronto real estate market is a dynamic one, especially with an increased number of people opting to invest in condominiums when semi-detached and detached housing becoming increasingly more expensive. Whether you're an investor or a tenant of the Toronto housing scene, understanding the nuances of the market can be...