Ottawa, Canada (PRWEB) October 29, 2012
The Vancouver Sun reports that the number of single Canadians living alone, at 27.6 percent of all households, has increased three-fold over the last five decades. With so many single-person households, it is only natural that the housing priorities, expectations, and needs of today’s market are substantially different than they have been in the past. Marnie Bennett, founder of Bennett Property Shop Realty and noted real estate broker in Ottawa, explains that condominiums are the perfect choice for single homeowners; however, she cautions that buyers must consider several factors before signing the papers on a new property.
In the article, Farhaneh Haque, who is the Director of Mortgage Advice at TD Canada Trust, urges potential buyers to consider how “rooted” they are in the location in which they are interested in buying. Additionally, Bennett notes, it is crucial to consider what kind of a property—and what location—will best fit the buyer’s lifestyle.
“Buying a property on your own is tough, but today’s market makes it a bit simpler,” asserts Marnie Bennett. “As this particular article points out, low mortgage rates have made it easier for young buyers to secure financing. But there is more to think about than the money. Condo living is a great option because it offers a plethora of amenities and other perks. Before putting a down payment on a unit, I would strongly urge buyers to shop around and prioritize the elements of the condo lifestyle that they value. For instance, some buyers who live and work in the same area may want access to public transportation. Others, who are driving themselves to work, may be looking for affordable and well-maintained parking areas.”
But these amenities, whether they come in the form of a personal parking space, enhanced security, or onsite recreational features, may also come with an additional price. For this reason, it is important for buyers to note not only the base mortgage payments associated with a property, but also any fees and other additional costs that the property will require. Bennett adds that buyers should look at not only the building in which they are interested, but also at the surrounding area. For many single buyers, close proximity to restaurants, retailers, nightlife, grocery stores, and more is very important.
Finding an affordable property in which to invest can prove difficult when there are so many different factors to consider; however, Bennett encourages single buyers to explore their options and, if possible, purchase a condominium that will provide them with an enjoyable lifestyle now and a bit of equity in the future.
Marnie Bennett, founder of Bennett Property Shop Realty, is a real estate broker in Ottawa. Through her assistance, her clients receive support and guidance throughout the process of a real estate purchase or sale. Marnie Bennett focuses on condo and home development marketing strategies, as well as the design of cutting edge resale tactics. Marnie Bennett works with a wide range of properties, spanning starter homes to multimillion dollar estates, and is dedicated to providing exceptional professional services while continually developing her expertise.