What if you could enjoy more freedom, less worry, and the conveniences of modern living, without the endless to-do lists associated with a conventional house? That is the advantage of being a condo owner. For many homeowners and investors, condominiums could be their golden opportunities; move-in ready and constructed for today’s busy lifestyle distinguish the building amenities that complete your normal living conditions. To put it simply; you might be casually dreaming of living somewhere that makes you feel like it’s a resort, or you could be actively seeking a financial investment in real estate. If so, it is probably time to start thinking seriously about living in a condominium.
Condo Living and Smart Real Estate Investment
As Canadians, we have all seen how the market has changed dramatically in the last few years. For the Canadian Real Estate Association (CREA), the average home price (in Canada) had reached about $657,145 in 2023. Even more significant is how most of the urban centres, Toronto and Vancouver specifically, had clearly gone well beyond this. On the other hand, there are usually fewer barriers of entry when purchasing condominiums, which has been a large proportion of buyers first-time homeownership, but condominiums are also appreciating due to demand.
Condos appeal to investors because they:
- Require less upkeep, making them easier to rent out.
- Are often in prime downtown or transit-friendly areas.
- Provide amenities, like gyms, lounges, and co-working spaces, that tenants and buyers value.
Specifically, the condo market in Hamilton, Ontario has seen tremendous growth due to the proximity to Toronto, along with demand from both students and young professionals looking to rent. To bring some substantiation data to the discussion, the most recent publications from the Realtors Association of Hamilton, and Burlington, have both confirmed the Hamilton condo market has not only demonstrated expedient growth in price, and sales volume. This is to say condo living can potentially provide lifestyle benefits and can equally be an intelligent wealth building decision.
Top-Tier Amenities That Match the Life You Want
One of the biggest benefits of condo living is access to amenities that are either expensive or not practical for a single-family home. Canada’s Mortgage and Housing Corporation (CMHC) published a survey in 2022 that confirmed buyers value convenience and lifestyle features equally to location.
At Harris Tower, residents enjoy a long list of features that make everyday life feel like a retreat:
- Indoor saltwater pool and sauna for year-round relaxation.
- Fitness room that eliminates the need for a gym membership.
- Library, party room, and billiards room for easy entertainment.
- Workshop and car wash with vacuum—perfect for hobbyists and car lovers.
- Pickleball courts and greenspace that encourage an active lifestyle.
Harris Tower sits among mature trees with views of the escarpment, creating a quiet environment with quick access to Red Hill Valley Parkway, QEW, and Highway 403. With natural beauty, urban conveniences, and modern comforts, the building represents more than a household; it is a lifestyle space intended for professionals, families, and downsizers who seek comfort that does not sacrifice function.
Move-In Ready Homes for a Comfortable Lifestyle
When buying a house, buyers are usually confronting renovations, upgrades to outdated appliances, a long “honey do” list, and in some cases, repairs. Condos are typically bought ready to move in.
This is particularly important for first-time buyers in Ontario. With enumerated closing costs and limited budgets, the ability to “move in” without any additional work helps to lessen the financial and emotional reduction of any additional and unknowns. Most condos were built with modern finishes and energy-efficient appliances, enabling buyers to settle in right away and not worry about additional upgrades or renovations that need to be attended to.
The simplicity of the process reflects the intrinsic promise of the beauty of living in a condo; free from additional and unnecessary hassle and access to comfort.
Why Condos Are Ideal for Downsizers and First-Time Buyers
Condos cater to two major groups in Canada:
- Downsizers: Empty-nesters are commonly looking for a smaller, much less maintenance-required, and sometimes apartment lifestyle. According to Statistics Canada, approximately 7.3 million are 65 years & older (2022), an estimated 1 in 5 Canadians. Many turn to condos to avoid yard work and repairs while still living close to the urban conveniences.
- First-time buyers:Younger Canadians are finding it challenging to move beyond rent. Interest rates went up significantly in 2023, plus the cost of detached homes remains high. Condos can provide a more affordable option to ownership. According to RBC’s 2023 Housing Trends and Affordability Report, condos remain the most affordable option for many young households.
Both groups are on the move in Hamilton. Retirees are enjoying a walkable downtown lifestyle, and millennial first-time buyers are thankful for somewhat affordable home ownership while having access to Toronto via GO Transit.
The Long-Term Value of Condo Ownership
Condos aren’t just a stopgap; they’re a long-term commitment to lifestyle and equity. One of the biggest advantages condo ownership has over renting is that when you rent, your monthly payments go to paying the landlord’s wealth; when you own a condo, you’re building your own wealth. The market value of properties in Hamilton and the surrounding areas has continued to grow (including a major bump during the pandemic) for well over a decade. Infrastructure improvements, population and housing acceleration demands, and continued demand from the Greater Toronto Area will all contribute to the future value of condo ownership.
The Canada Mortgage and Housing Corporation and many housing experts are projecting demand for housing in Ontario will be strong until at least 2030 because of immigration and lagging supply. So condo owners can reasonably expect some level of appreciation over the time they own the unit.
In addition to having financial value, condos provide lifestyle value, which means more time, fewer responsibilities, and instant access to communities that everyday life can enrich; now that’s a double benefit, which makes it one of the best-selling forms of modern housing.
Final Thoughts
Living in a condo offers many benefits to the buyer including affordability, convenience, and lifestyle. Condos are already providing buyers in Hamilton and further afield with not just a home, but also a community and assurance of a future investment. With fundamentals of the market that continue to be favourable, desirable amenities, and the safety of move-in ready, condos will still offer many Canadians a choice of comfort and value.
