Here’s a (non-trick) question for you: If something goes terribly wrong in your condo that originated in your unit and affects other units or the entire building, who pays the insurance deductible?
Perhaps the best option for metropolitan-loving professionals who have the resources and desire to buy their very own property – a huge first step, congratulations! – is to buy in the form of yard maintenance-free, pretty-simple-to-care-for condominiums.
Rising residential and condominium home prices have forced some Vancouver residents to consider renting instead of buying, and housing developers have designed some units specifically for young citizens on a budget.
Several Canadian cities have undergone a condo boom in recent years, as lower incomes and rising home prices have fueled high demand for apartments in major cities.