We are all very familiar with the joke-turned-internet-meme on how millennials are not able to buy houses because of avocados. Funny as it is, keeping that aside, if you look up trends you will also find that a lot of people, millennials included, are actually voluntarily not buying houses even when they can afford them. In fact, a lot of them are choosing to stay in apartments. If not apartments, they are moving into condos. If you look around you, you will notice that there are more and more condo projects being built annually and that is because of their demand. Zen King West Condo is another condominium project underway, in fact you can book a tour and visit them now. We will be trying to extract why this change of preferred living trend has changed.
- The most obvious reason is to save money and this is done a number of ways. Condos are admittedly less expensive than houses, so people end up saving money by opting for condos. Plus, the amount of fuel or fare that is spent commuting from the suburbs to the city can means upto hundreds of dollars annually. So, by living in condos that are closer to the city, they are able to save fuel and fare money commuting.
- Convenience is another strong factor taken into consideration. Everything is so much closer and within reach in the city rather than the suburbs. So, by living in or near to the city, it is so much easier and quicker to get things done.
- Houses require a lot of maintenance and upkeep, something the coming generations do not have time for given their routines.
- Condos are able to house smaller families and the coming generations have been opting for smaller families, so condos are able to meet all of their needs.