Downtown Calgary has a variety of great buying options when it comes to a condo or a house. A condominium offers modern and flexible amenities while simultaneously coming with a monthly fee and new restrictions. Comparatively, houses bring privacy and space. There are a few pros and cons of both property types. In this blog, we carefully examine the purchasing conclusion of both. If you are condo hunting or finding homes for sale in Downtown Calgary, knowing the pros and cons can help you find the ideal fit for your lifestyle.
Buying a House in Downtown Calgary
Single-family, semi-detached, and detached homes remain a priority for urban neighborhoods. Houses offer a lifestyle that is tough to replicate and comes with several benefits.
Pros of Buying a House
1. Spacious, Flexible, and Private
No doubt, houses come with more room than condominiums. Whether you are considering outdoor space or indoor, houses rank top among other properties. With a house, you’ll have a private yard, larger storage, and fewer shared & thin walls. That’s another thing; condos often come with thin walls, which restrict your private moments. For families looking at homes for sale in Downtown Calgary, freedom and privacy often take the stage as key decision-making factors.
2. Perfect for Families and Long-Term Living
Detached homes are generally more flexible to repair, expand, or customize. These advantages make them more attractive than a condo for most families. Other than this, these types of homes support living for long-term plans such as working from home, starting a business, raising a family, or investing in multigenerational living.
3. Outdoor and Ample Storage Space
Lots of things are not possible with a condo, such as having a basement or backyard. But when it comes to a house, you can get access to a private backyard, a garage, and a spacious basement. These facilities are rare in condo living. Functional space and storage needs are often prime driving factors for families towards Calgary Downtown houses for sale over compact condos.
Cons of Buying a House
1. Expensive and High Maintenance Costs
It’s no surprise; houses usually come with a higher upfront price tag. Additionally, they require repairs or renovation before one can move in, such as roof repair, lawn care, deep cleaning, painting, and kitchen storage addition– all these can add up to costs swiftly.
2. Limited Supply in Downtown Core
Most houses for sale in Downtown Calgary are townhomes or condos, so if you are looking to buy a detached house, neighborhoods such as Mission, Beltline, or Kensington are your best bet. Single-family homes are tougher to find due to urban density and zoning. In short, you’ll experience that buying a house is much more challenging than a condo.
3. Commute Challenges
Houses in dense areas may have less walkability compared to established condo buildings that are normally in the city core. While some Downtown Calgary homes deliver private parking, others may not, making street parking a necessity. This can affect an individual’s commute times and hinder daily convenience.
Buying a Condo in Downtown Calgary
A condo is a great option for those who want to enjoy the convenience of city living without the mundane life of traditional ownership. Whether you are an investor or downsizing, downtown condos offer value in the middle of Calgary’s vibrant urban core.
Pros of Buying a Condo
1. Minimal Maintenance
One of the biggest advantages of purchasing a condo is the hassle-free lifestyle. You do not have to worry about regular maintenance such as exterior repairs or snow removal because they are all managed by the condo board. This quality makes condos a smart alternative to traditional homes in Downtown Calgary.
2. Premium Amenities
The second most important thing to consider while buying a condo is access to amenities. Nowadays, many condo buildings come with necessary amenities such as a gym, secure car parking, a swimming pool, etc. All of these facilities are shared among inhabitants and offer an elevated living experience. You’ll find numerous condos for sale in Downtown Calgary, Alberta, that provide all these comforts.
3. Best Suited for Urban Lifestyle
If you want to live in a space that’s closer to your work, nightlife, and public transport, choose condos, as they are, especially befitting singles, professionals, and couples. Living in a condo means you can go for a walk or cycle anytime you wish, anywhere in the city, which is far more desirable than a community in a residential neighborhood.
Cons of Buying a Condo
1. Monthly Fees
Condo owners are required to pay a monthly fee that covers amenities, building maintenance, and management. While you get to experience a convenient lifestyle, fees can make your housing costs expensive. Before you plan to settle for a condo, keep this important factor in mind when comparing properties in Downtown Calgary.
2. Space Constraints
In comparison to other properties, condos generally offer less square footage. If you are searching for a house that’s spacious, then going for a condo might not be a good decision. Most growing families require space, as they have children and need storage or a private backyard. All of these may not be possible with a condominium. Buyers looking for a comfortable living might be more open to detached or semi-detached homes for sale in Downtown Calgary instead.
3. Frequent Restrictions
Condo living comes with a list of preset rules and regulations. These might include prior renovation approval, hourly noise limits, or pet restrictions. While these rules are potent as they promote disciplined and fair treatment for every resident, they can pose a limit to your freedom.
Read Also: Top Tips for Buying Houses for Sale in Calgary | Expert Guide
Final Thoughts: House vs. Condo—Which One to Buy?
Buying a house or a condominium is also determined by your priorities. For example, a person wishing to grow his family should buy a house; on the other hand, if you are establishing a business, a condo can be an excellent alternative. However, the final decision is yours; we can help you navigate the process and make your home-buying journey smoother.
At Alberta Property Group, we help every buyer navigate the real estate market and make informed selections. So, whether you want to buy a fancy condo or a cozy yet comfortable house, we can certainly help.
Let us assist you in discovering the ultimate property in Downtown Calgary- get in touch with our team to get started today!
Frequently Asked Questions (FAQs)
Q1. Which property type is most desirable in Calgary’s Downtown?
Detached homes and semi-detached homes are most desirable in Downtown Calgary.
Q2. What is the average price of a condo in Downtown Calgary?
The average price of a condo in Downtown Calgary is approximately $433,000. However, these rates are changing continuously due to several factors, such as changing real estate demand, new constructions, and others.
Q3. Is an apartment the same as a condo in Downtown Calgary?
While both refer to multi-residential buildings, condos are individually owned, while on the other hand, apartments are generally rented. If you are interested in apartments for sale in Downtown Calgary, you can contact us for a private visit and affordable options.
Q4. What is the current market price of a house in Downtown Calgary?
The average price of a Downtown Calgary listing is between $489,000 and $2.1 million. The average price per square foot ranges between $550 and $554.
