Time was, condominiums were perceived as places where (gulp) seniors went to retire.
Not so anymore: with prices of single family homes on the rise -- and competition for those homes fierce -- increasing numbers of prospective home buyers are now looking more seriously at what condominium living has to offer.
Chris Pennycook, realtor for Royal LePage Dynamic Real Estate, says condominiums are being considered by buyers -- a wider range than ever -- for one very specific reason.
"Value per square foot can be fantastic, far better than you would get in a house of comparable size," he says. "A good condominium -- like this one -- is a rare find. If possible, you want to find a townhouse condominium that has a good layout -- and one that's been taken care of."
The condominium Pennycook speaks of is unit 24, 341 Westwood Drive, in The Condominiums of Village West. Featuring 1,500 sq. ft. spread over five levels (landing, half basement, living room, dining room/kitchen and bedroom/main bathroom level), the townhouse-style condo is indeed very house-like.
House-like features are abundant, starting with a long (heated ceramic tile) foyer with door to a single attached garage (a huge feature on cold winter days) to the right. A short series of steps then take you down to a half basement that contains the unit's furnace, hot water tank, (in this case) workout area and under-stair storage. So far, so good. The place is already feeling like a home.
A short ascent then takes you into a living room that is anything but condo-like with its 14-foot ceiling complemented by a wall of windows as well as a door to the deck out back. So much for the notion that condominium living is akin to living in a dreary, bunker-like atmosphere.
"This type of design, with the high ceiling and big windows, offers, in my opinion, some of the best value in the city," Pennycook adds. "The townhouse style makes for a very bright interior. The layout here is also excellent, which is another reason why it's a real alternative to a single family home -- there's privacy, and lots of room."
True enough. The condominium's fourth level contains the kitchen at the rear, with the dining room -- which is bordered by a wood and metal bannister -- overlooking the living room. The key here is that both areas offer plenty of space to move. Consequently, having friends and/or family over for dinner wouldn't be a stretch space-wise.
While the condominium was built 46 years ago, it is still very contemporary thanks to several thoughtful design features. For example, the big, L-shaped kitchen is united with the dining room via a cutout between the cupboards and counter top nearest the dining room. Thanks to an oversized kitchen window, light drifts lazily into the dining room to combine with light from the living room.
Adds outgoing owner Chris: "You're not going to get cabin fever here. There are windows all over the place, and they're all big. We've loved it here -- it's been a fabulous place to call home."
Another shortcoming often associated with condominiums is that the bedrooms tend to be often, well, apartment-like in size -- maybe one big one (master bedroom) along with one or two modest bedrooms thrown into the mix for good measure. That's not the case here; not only is room abundant in the master suite, the two secondary bedrooms are also large. All three bedrooms also have tons of storage space, too.
"This unit also has lots of storage space, which a lot of condominiums don't have," Pennycook says. "It also doesn't hurt that the rooms are large, with excellent closet space. Storage won't be an issue here."
Finally, there's another intangible that can convince would-be home buyers to consider looking at a condominium: an overall home-like feel. In this case, several design features dispel the condo-like atmosphere.
"The first thing to look at is the condition of the condominium," he says. "In this case, you'd be hard-pressed to find a 1,500 sq. ft. home in this condition for the price ($219,900). Second, you're getting a bright space with spacious rooms, attached garage -- and a private, fenced yard that backs onto a courtyard. You've not only got plenty of well-defined space, but you can also get outside to enjoy the good weather."
The bottom line regarding giving serious thought to buying a condominium rather than a house?
"If you're willing to look, you can find some well-designed condominiums that have a lot to offer," Pennycook says. "Find the right one, and the square foot per dollar cost is much lower in comparison for what people are paying for homes these days. It's definitely something that's worth considering."
lewys@mts.net
DETAILS
Address: 24-341 Westwood Drive, Westwood
Year Built: 1964
Style: Townhouse condominium
Size: 1,500 sq. ft. with half basement & attached single garage
Lot: Private, fenced patio backing on to courtyard
Bedrooms: 3
Bathrooms: 1 full, 2 half
Condominium Fees: $280
Selling Price: $219,900
Taxes: $2,223.76 (2009)
Realtor: Chris Pennycook or Lori Hopfner, Royal LePage Dynamic Real Estate @ 989-5000
