When it comes to seeking the right housing opportunity, a majority of people are at a crossroads. From analysing the tendency of urban living to an increase in the popularity of single-person households, the primary focus of people is getting affordable living spaces. The news has it that the new listings of condos have come down drastically. Does that mean that condo owners may be forced to sell their units and rev up the listings?
It’s too early to predict, but if you are already searching for a Kelowna condo for renting or purchasing, a micro condo may present a new opportunity for residential living. Should you invest in a micro condo? Can it be the right option for family living?
What is a Micro Condominium?
As the name suggests, the micro condo is not just a living unit comprising a bedroom. They are small in size and have everything you need for your day-to-day life. From an open floor plan to fine bedrooms, a defined bathroom, and a kitchen area, you may consider it a worthy option for living. But there is no thumb rule for the total space available in micro condos. You need to choose the space based on your needs.
Pros of Buying Micro Condos
- Low Maintenance Cost
When searching for new condo developments in Kelowna in your preferred listings, you need to know that you will analyse the costs first. Whether you are purchasing the condo unit for your living or for renting it out, it is natural for every buyer to stumble upon the prices. From the cost of buying to paying the maintenance and the association fees, the costs are likely to scale higher than you think. One of the reasons you should be investing in a micro condo is that the fees are much lower compared to the average cost of a house or an apartment. The maintenance fees are calculated depending on the total square feet of the property, so you need to pay less and get higher returns for renting the unit.
- Get A Cosy Space
Another reason to invest in a micro condo is the opportunity you get to curl up in a small and cosy place. They are easier to decorate than apartments or single-family homes and naturally going to cost less. Moreover, the entire buying process and the interior decoration of the condominium are not going to pose much difficulty. An added advantage is that you can do up the condo in the shortest time.
If you are wondering whether investing in a micro condo would mean compromising on the décor, you will have plenty of options like a gallery wall with photographs, getting wall décor items, and using different lighting textures. Apart from this, you only have to let go of large-sized furniture. Are you consulting real estate agents for exploring new developments in Kelowna? Research your requirements first before you decide on the size of the condominium to invest in.
- Easier to Rent
Micro condos are easy for renting, and it is pretty easy to understand the reasons. Condos in the downtown area will be cheaper from the perspective of paying rent. Moreover, the micro condominiums are appropriate for single living or those looking for smaller living spaces. For younger people with jobs, spending most of their time outdoors, renting a micro condo would not mean compromising a lot of space for a cheaper rate.
- Less Clutter
Aren’t you familiar with how families need several days to de-clutter single-family homes or large-sized apartments when they need to move? Thanks to the small space of micro condominiums. You will have lesser opportunities for collecting things in the house unnecessarily. When you move to a larger space the next time, you will have plenty of opportunities to buy new décor objects. When searching for the prominent listings of micro condos, you can try exploring the listings of Justin O’Connor Group. They are one of the most reputed in Kelowna offering housing options that are right for different segments of families.
Cons of Micro Condos
If you are someone exploring the profiles of luxury home builders in Kelowna, you might not find the micro condominium a family-friendly option. Unless you are single or planning to rent a home that accommodates one roommate, you may not find it useful. But couples can rent micro condos, although they may not get a greater opportunity of decorating their living space. Finally, party lovers may not find the apartment welcoming, although you can invite a couple of friends for a drink or two.
Overall, micro condominiums are cheaper than large apartments or single-family homes, which means that you are paying less for the investment, but you can choose to live in a downtown area and own an interesting habitat.