By: Perry Baria

What Can Buyers Expect From Low-Rise And High-Rise Condo Living in Downtown Toronto?

Tags: Downtown Toronto, Downtown Condos, High-rise and Low-rise condos, advantages and disadvantages, Amenities, affordability

 

 

If you are one of the many people who’d like to buy a place in Downtown Toronto and enjoy the city life to the fullest, you probably already have an idea about housing options, prices and availability. You’ve probably noticed that high-rise condos dominate the Downtown core offering marvelous and recognizable panoramic views of the Toronto skyline, but how is it actually to live there? Should you be looking for a low-rise condo instead? If you are a busy bee that likes having all in one place, maybe you should go with high-rise, but, if you shy away from lots of people and enjoy the quiet (but not enough to move to the suburbs), give it a shot with low-rise listings. Here is what you need to know about the two housing options.

High-Rise Vs. Low-Rise Condos

The Amenities and Fees
The biggest assets of high-rise condos are beautiful city views and numerous amenities that residents can enjoy on a daily basis. Toronto’s fancy high-rise condos are known for their pools, whirlpools, saunas, gyms, yoga rooms, rooftop patios, children’s play area (if it’s a family building), visitor parking, and even theaters and basketball courts. The newer buildings are completely adjusted to modern-society needs taking into account every detail. Low-rise condos won’t get you the same level of service and they usually come with fewer amenities (maybe a fitness center or lounge). When it comes to fees they tend to be higher in high-rise, but the smaller number of residents and the boutique status can fairly drive up the fees in low-rise as well.            Bonus tip: Ask about condo fee increases and how often they take place to make sure you’ll be able to afford them even if they go up!

Affordability
High-rise condos have become a natural choice for Toronto developers as a response to the increasing demand in the Downtown core and it’s no surprise that they outnumber low-rise. Low-rise condos are almost limited edition which further increases their market value. Even if fancy high-rise condos are bit pricier, low-rise is not lagging far behind as they’re seen as boutique buildings that are more about lifestyle choices.

Noise and Privacy
High-rise condo living means sharing common spaces with many more people than when living in a 3 or 4-floor building. High-rise condo owners are more likely to run into people, face crowded elevators or hear the noise from an adjacent apartment. For example, hearing a baby cry when you just came from a night shift could raise some tension between you and your neighbors. Young parents may also feel discriminated solely because they have a child. Low-rise buildings have fewer units, fewer residents and offer more privacy. They seem to be the perfect fit for empty nesters and downsizers, while families lately have turned to the high-rise market especially family-friendly condos in great locations (close to schools, parks, etc.).

Downtown Toronto has become the main hub for young professionals, families, students and elderlies who favor the urban/condo lifestyle to avoid long commuting times and sitting in traffic, among others. Whether you prefer low or high rise, make sure to read the condo regulations to see if they work for you and consult a real estate professional to find the best option for you.