Craig Rushton has been a licensed Realtor with Century 21 since 2006. Specializing in Condominium Sales and Marketing in both Calgary, AB and Vancouver, BC. www.RushtonProperties.ca :
The condo lifestyle has changed the way we live and socialize in an urban setting differently for different generations of people. Because of limited space I will focus on the Younger Generation (25-50 years old) but I think the impact of condo culture on the Downsizing Generation (50+) and the potential for a ‘lock and leave’ lifestyle deserves mentioning as well. The popularity of condos can’t be understated. The new project being undertaken by JLL Residential Development Germany is an example of this rise in demand for a condo lifestyle.
The Younger Generation (25-50 years old): This age group is purposely getting away from the ‘Bigger is Better’ mentality. In many cases they grew up watching their parents who owned a big, beautiful house but maybe didn’t have the money to live the lifestyle they had always wanted (family holidays, nights out etc). We also have Entrepreneurs in this age bracket that take one day off a month, the last thing they want to do is spend that day mowing the lawn and looking after a house they don’t get to use and enjoy. That is why more people are opting to get a mortgage on a small condo, not a traditonal house in the suburbs. Visit https://www.sofi.com/home-loans/mortgage-refinance/ if you are hoping to refinance the mortgage you have taken out on your condo.
In my first meeting with a client moving from Ontario, we sat at Starbucks and he told me straight-faced, “I have a wife and a Chihuahua. In Ontario, we had a room in our house we used once a year to wrap presents in. We don’t need a lot of space, we just want something great.” They bought a 775 SqFt condo with an incredible city view in the heart of Downtown. Their family thought they were crazy to live in a home this size, but it perfectly fit their needs.
Condo culture has also moved socializing from inside the home to outside. Instead of hosting a dinner party, friends meet at a restaurant. Instead of watching the hockey game from the couch, people go to a pub to experience the social atmosphere of being at the game without having to buy tickets.
So what do you think?
In what ways has the condo lifestyle changed urban experiences?