The biggest problem with traditional houses other than their price is that they are located in the suburbs because of which commuting becomes a problem and an added cost in general. Most millennials are now moving towards other alternatives with many opting to stay in apartments. However, if you no longer want to live on rent and want an actual property that you can lay claim to, a condo can be a great alternative. You can find multiple projects in your area like Avia Mississauga, who are currently taking registrations on their latest condominium project.
However, it is also important that you understand what responsibilities come with being a condo owner as well. First of all, a condo like an apartment, consists of separate units within the same building, so you will not have complete privacy. At the same time, you are also obliged to a number of other responsibilities with the most important one being a member of the homeowners association.
By being a condo owner, you automatically become a member of the homeowners association because of which you have to firstly pay the monthly homeowners association fee which is mandatory and secondly, you will have to show up to the homeowners association meetings as well. So, shared responsibility is something you need to keep in mind and fully accept when it comes to being a condo owner.
As a condo owner, you will be bound by certain rules that will be set by the building owner and the homeowners association. You can challenge some of the rules set by the homeowners association but for that a lot of paperwork and extra support is needed. So, it is better to accept those rules and to only agree to move after accepting those rules entirely.
You can look up more information on upcoming cadmium projects like Avia Mississauga on their official website.