The demand for larger condos is growing as more families look for their first home. With the cost of housing rising so quickly, many couples with children are still struggling to put together a down payment for a home. As the prices go up, the amount of the down payment can quickly become out of reach. When this occurs, many families look at their condo options in order to take their first step towards owning a bigger home.
Here in Calgary, there is a new development called The Morello in the southeast neighbourhood of Midnapore that answers this need. There are 21 condos available that have floor plans offering 800 ft.² to just about 1,600 ft.². Many of these condos also have 3 bedrooms along with 3 bathrooms.
The majority of the condos that are available, especially in the downtown core, are geared towards singles and couples that don't need a larger unit. It's a lot harder to locate a 3-bedroom spacious condo as you approach downtown Calgary and even on the outskirts the 3-bedroom units can be difficult to find.
If you're in the market for a larger condo unit you can take a look through the listings to see what's available now. You should also browse through the listings in Airdrie, Okotoks and Cochrane to see how much lower the prices are in these towns.
Family-oriented condominiums are likely to become more and more popular as the cost of single-family homes continues to rise. Condos are a great way to get started with home ownership. Many families find that they can upgrade to a town house or a single-family home in 5 years once they have put together enough equity in their condo. As well, during the time they spend in the condominium unit, many parents will see an increase in their income and will be able to afford higher monthly mortgage payments.