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Condo Buying vs Condo Renting: What To Consider When Exploring Whether to Buy or Rent A Condo

Updated: Jul 15

The allure of condo living is often found in its convenience and affordability (compared to the current prices of regular homes in our current real estate market!), and it’s no surprise that this lifestyle is tailored to specific groups such as young professionals, small families, retirees, and (as was my case) newcomers to Canada. Yet, the decision to choose between a condo, apartment, or house, and afterwards between condo buying or condo renting is a multifaceted one that is deeply entwined with your current life situation and long-term aspirations. 


This post thoroughly explores the multi-faceted aspects of condo living, whether through condo renting or buying. I’m also excited to share my personal perspective with you, as it’s ultimately what brought me in as a resident of Condoland… by becoming an actual resident at our family’s first condo in Canada!


My story, like many others, reflects the tailored advantages that condo living offers to diverse individuals and families. More than twenty years ago, my family emigrated from Nigeria and  moved to Canada, struggling to survive and navigate our new lives. We lived in a Condo at Kipling and Rowntree up until halfway through my high school years. The demands in my parents’ lives did not give them the time to care about the regular housekeeping chores that homemakers and stay-at-home parents pride in. As a result, they bought into the idea that condo living allowed them to take their minds off tasks like landscaping, gardening, snow maintenance, general cleaning and upkeep, as well as reparations for which they would not know the right vendors to service them when needed.


Buying a condo unit, as new immigrants, was a powerful move that took time to pay off, but did in ways that eventually took us out of the “hood” and into the suburbs in Mississauga years later. I still remember the conversation my father would have with us when we moved, where he claimed that we, his children, made a promise to him that we would take on the responsibility of housekeeping, landscaping, snow removal, garbage disposal, and more - mind you, to this day, I have no recollection of that conversation or any alleged promise - and I am willing to die on that hill!