A poll conducted by TD Canada Trust found that three-quarters of Canadian condo buyers think condos are worth the extra monthly expenses if it means enjoying the benefits of the condo lifestyle.
The TD Canada Trust 2012 Condo Poll surveyed Canadians who recently purchased or intend to purchase a condo and found they’re attracted to condos because they require less maintenance (60%), are more affordable (45%) and offer more amenities (25%) than your typical house.
“Managing your housing expenses is about prioritizing your needs and budgeting accordingly. It’s clear that the convenience of condo living is important to many Canadians, and they are willing to pay the monthly fees that come with owning a condo,” said Farhaneh Haque, Director of Mortgage Advice at TD Canada Trust in a press release.
Here’s a few more choice cuts from the TD poll:
- The poll found 35% of condo buyers would pay up to $200/month in condo fees, 44% would pay up to $400 and 17% would pay up to $800
- Torontonians are willing to pay the highest fees
- A majority of Montreal residents (59%) wouldn’t pay more than $200 in fees
- Good building security and low condo fees are the top features that respondents considered when deciding on a condo
- Women are slightly more likely than men to look for a building with a balcony (92% vs. 87%)
- One-third of condo buyers say the main reason for their condo purchase is that it’s a good investment