“The more the merrier” stands as true for neighbourhood amenities as it does for holiday gifts.

Local area amenities significantly enhance the lifestyle of residents, which in turn positively impacts the investment value of a condo. Proximity to essentials like parks, public transportation, schools, and shopping centers not only offers convenience but also enriches daily living. With good local amenities, the time required for routine tasks like commuting to work or school, and grocery shopping can be reduced. This leaves more free time in residents’ lives to pursue things they enjoy or simply relax, giving a touch of luxury to one’s lifestyle.

Let’s explore the factors that contribute to boosting a condo’s investment value:

Connectivity

In a transit-rich city like Toronto, being situated close to subway stations or transit stops is one of the most sought-after amenities. Proximity to public transit is especially advantageous for working professionals and students, offering them an affordable and convenient commuting option. Furthermore, a location near major highways is a significant bonus, facilitating easy travel and access to various parts of the city. The ease of connectivity to neighbouring cities and regions through highways, GO Hubs, and subway stations makes it even more appealing to a broad range of potential buyers or renters. In fact, as per Financial Post, homes, including condos, located close to public transit increase their value by about 30%.

Education

A condo’s proximity to quality educational institutions boosts its appeal, particularly for families. Access to reputable schools within walking distance or a short drive not only offers convenience but also provides peace of mind regarding children’s education and overall development. This aspect of location can often even become a deciding factor for families when choosing a residence, making it an important aspect in determining the value of a condo.

Shopping & Groceries

The availability of shopping and grocery stores close to a condo adds a significant layer of convenience to residents’ daily lives. It simplifies routine tasks by eliminating or reducing the commute which in turn makes the living experience easier and straightforward. Hence, a variety of shopping choices, such as grocery stores, drugstores, and banks, at one’s doorstep is a desirable quality which helps in amping up its value in a competitive real estate landscape.

Parks & Recreation Areas

One of the most important factors that can boost a condo’s value is its proximity to green spaces and recreational amenities. While condominium communities usually do have common parkettes, they don’t provide you with the option of a big open space like a backyard. This is where green spaces come into play. Green spaces and playgrounds offer a much-needed oasis in urban settings, especially for families. They’re also appealing to people with pets, as it provides an area for them to walk and play freely. Recreational facilities like community centres, gyms, restaurants, and cafés further add value.

Healthcare Facilities

Last but certainly not least, the availability of healthcare facilities in close vicinity to a condo complex is the cherry on top. Easy access to hospitals, clinics, and pharmacies is particularly important for families with children and older residents, offering them convenience and peace of mind in case of medical needs. This accessibility is a key consideration for many when choosing a place to live, as it ensures that health and wellness needs are promptly met. Consequently, condos located near healthcare amenities tend to have a higher appeal and market value.

Whether you’re buying a condo or selling one, be sure to keep all of the above-mentioned factors in mind to secure a deal that’s well worth it. For exclusive updates on our new condominium community in Scarborough, register now!