Victoria BC as the Sunshine State has over the years become one of the greatest vacation locations in the World. A few years ago, when the prices escalated, the land became expensive and the developers decided to get the best and the highest of their investment land. And the best way to do this was to construct and develop the very eminent ‘Victoria Condos’.
Condos in Victoria are generally quite large and some of them are as large as good size houses. The developers were able to get a greater volume of condos to the acre and this is quite overriding in built-up urban areas where the land is expensive and scarce and the position and the return is the primary requirement.
Victoria is the prime location for condos and there is no better location than overseeing the picturesque beach administering the North Pacific or the Gulf of Alaska. Imagine the view over the sea during the Sunrise and the Sunset. Also, another great location for your Condo in British Columbia is close to Vancouver where the tourist traffic is huge and the rental demand is good. The Condo group offers some super well-built condos where you can get 2/3/4/5 bed condos in Victoria, so size is definitely not a problem.
To hark back to our friends, the developers who learnt that the development of condos would get them a better return on investment at good locations. They persistently kept on building condos in the booming years well after it became obvious that the market was soaking with both. the condos and the houses. This was not just in Victoria but also in numerous other cities like Vancouver, Alberta, Brampton and many others. Then set in the economic crisis and the market slowed to a stop, over the last two years.
A question that often comes across is what are the favorable and unfavorable factors of buying a condo instead of a house or a villa? We believe that some people just prefer a condo over a house/ villa for their own personal reasons. Yet, there are some serious issues to be considered when comparing a condo and a house, a few of which are:
- Property Tax on a condo is likely to be lower than a house or a villa as it is one of a block of a building and will be valued for tax as a unit of the building.
- Maintenance of a condo will be lower than a house/ villa again for the same reason that a condo is a unit of a building and all other condos will be making equal contributions to the maintenance costs than an independent house where all the charges are supposed to be paid individually.
- Management is a lot cheaper for a condo than a house as the house will have external maintenance such a lawn and pool to maintain and manage. Divergent to this, condos are compact and management is easy and timely as the maintenance crews will have a number of condos within that location and travel will not be difficult so cost and time will be minimum.
- Rental is usually the same for both but condos have an overhand to houses as they are generally close to beaches and tourist attractions. This is so that the condos rent well and at some locations, run on night by night basis like hotels.
- Locations, as stated above, the condos are developed in prime locations of high interest to offer a youthful and popular surrounds.
Condos in Victoria BC, in conclusion are very well located and built qualitatively. There are variety of sizes and plans and owing to the current market and the economy, we at the condo group are offering condos at very reasonable prices at the high profile locations. Please feel free to contact us for any questions you may have.