Oakville condo makes top 10 list of units with biggest layouts for best price
Published May 21, 2021 at 11:45 am
An Oakville condo recently made Strata.ca‘s top 10 list of units that offer the biggest layouts for the best price.
While the COVID-19 pandemic brought forth many changes in the real estate market, one thing remains certain; prospective homeowners in Halton still place a big importance on spacious units.
Strata.ca’s list was created by aggregating cost-per-square foot (PSF) data to isolate properties that give the most value dollar-for-dollar, strictly based on size.
The list included condos located in Toronto, Mississauga, Hamilton and Halton, with one in Oakville coming in at number six on the top 10 list.
The Oak Hills condo, located at 20 Spears Rd. in Oakville, was $300 per PSF; $250 less expensive than the neighbourhood average.
Strata.ca’s data also indicated that the overall cost PSF for Downtown Oakville was $634.
According to Strata.ca, units in Downtown Oakville range up to 1,750 sq ft and their data shows demand is high while unit availability is average.
Additionally, over the past 12 months, the Oak Hills condo building has appreciated +23 per cent in value.
While spacious units are a priority for some, prospective homeowners should keep potentially high maintenance fees in mind, according to Cliff Liu, a broker at Strata.ca.
“Maintenance fees are usually proportionate to condo size. So the bigger your unit, the more you’ll likely have to pay. So it’s about finding the right balance between monthly affordability and a space that’s large enough to fulfil your needs,” said Liu.
However, Strata.ca realtor, Cyrus Ghazvini, stated that some of his clients are looking for bigger units due to the fact that they offer more options for renovation.
“More square footage means a bigger area to work with. Many homebuyers want that kind of canvas, since it allows them to more easily reconfigure the space. And that’s especially important for those wanting to maximize resale value,” said Ghazvini.
Additionally, Strata.ca also noted that those on a budget looking for a spacious condo may have to sacrifice certain luxuries in order to obtain a larger property.
So, prospective homeowners in Halton looking for a spacious condo will have to weigh the pros and cons to determine whether space takes priority over high maintenance fees or other key factors in their search.
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