Should I live in an apartment or a condo upon retirement?

  • 2 years ago

Condos are real-estate complexes composed of a set of individual apartment units, and common areas (swimming pool, garden, private security, etc.). Inhabitants maintain ownership of their respective units or rent them. In addition, residents can take advantage of common areas and facilities in exchange for payment of monthly fees or a slightly more elevated monthly rent.

There is an increasing amount of condo buildings in Montreal. These homes are popular and are highly appreciated by retirees and seniors.

A condo is a term that refers to an apartment reserved for those who want to own it. However, there are also condos for rent in Montreal, which can be either standard or high-quality; the latter is often distinguished with luxurious interiors and amenities offered. At Le Parc Apartments, you can enjoy the freedom, lifestyle and flexibility of renting, while enjoying such high-end amenities.

Less responsibility, more freedom!

This way of life is very appealing as it greatly simplifies the lives of the residents. Apartment-rental life represents a certain freedom, leaving more time for leisure, with less time spent paying bills, attending condo meetings, paying for cash calls, liability, and managing paperwork. Ultimately, there is less attachment to the physical property itself, and more freedom. Simply lock up your apartment and head out, without concerning yourself with maintenance, as well as undesirable and costly repairs. This is not the case when it comes to condo or home ownership, which requires regular indoor and outdoor maintenance.

A house is too big

Upon retirement, the home often becomes too big and represents a lot of work. Children left the family nest and parents spent several years maintaining the house and the land. A person’s energy levels tend to decrease as we age, and the desire for escape and freedom is felt. Many seniors, retirees or semi-retirees then decide to sell their respective homes, to go live in apartments or condos. Thus, they can enjoy a life with fewer responsibilities, without the burden of maintenance, in a comfortable and safe condo or apartment for rent in Montreal.

Comfort and safety

The majority of apartments and condo buildings are relatively safe and comfortable. They are often equipped with surveillance cameras, and access is controlled. Depending on the buildings, several amenities may be available, such as a swimming pool, gym, indoor parking, elevator, garbage chute, as well as landscaping, snow removal, etc. In addition, condo buildings and luxury apartments in Montreal are often well located near services such as grocery stores, pharmacies, shops, banks, etc.

Budget

In retirement, needs change and it is common for homeowners to realize that their property has become too large.  A condo or an apartment for rent in Montreal then becomes an interesting option to consider, since it offers all the necessary amenities, but in a small and practical space.

Health & Safety

Your health can greatly affect your choice of home since some models will offer a much safer lifestyle. By choosing Le Parc Apartments, you are saying goodbye to the stairs, since an elevator system is available to move you around the building.  Several safety mechanisms have also been installed, such as intercoms, alarms, fire systems and sprinklers.   You will thus enjoy a better quality of life away from the stress and daily concerns relating to home ownership.

For Retirees

Seniors, retirees and independent people wishing to live among people who are also retired and independent, can opt for a retirement residence offering amenities similar to condos, in addition to varied activities that are adapted to this clientele (outings, group activities, themed evenings, etc.)

Ultimately, choosing to rent an apartment or a condo, will significantly improve your quality of life upon retirement, and will spare you the hassle of owning your home.

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