A Comparison between Luxury Condos and Penthouses/Mansions in Toronto

Living in a luxurious penthouse, mansion or condo is the dream of every person living in a metro like NYC, LA or Toronto. This dream remains a dream for most of the people as either they don’t have the resources to buy such a property or they don’t know exactly how to go about the process of buying a condo. A prime location can make a condo more exclusive but obviously make it pricier. So investors need to think a lot before making a final decision.

Luxurious condos are synonymous with an envious lifestyle. It is part of a status symbol that you can ooze with a Ferrari in your garage or a gold-plated Rolex in your wrist. Luxurious property you can get just like city place condos is what is considered the benchmark for many investors. It is also akin to an entry into the big league for a person so that he can consider himself among the elite in the city. Yes, a luxurious condo can do all this and more so that you can enjoy your new life style to the optimum.

Decision between a Condo and Penthouse/Mansion

Many people, not familiar with a condo, think of it as just another extension of flats as it sounds and looks like it from the outside. But the reality is in stark contrast. There are some luxurious Etobicoke condos or in other areas of the city of Toronto that can put even luxury penthouses and mansions to shame. Such is the standard of the condos nowadays that people look to make certain they get their hands on a newly or spaciously built condo.

One factor that is significantly in the favor of condos is that the price of the condos is normally less than penthouses and considerably lower than a mansion. While you can argue that a mansion is where you get huge bedrooms, ballrooms, spacious lawns and backyard. But when you will consider the price factor, you will automatically incline towards a condo. In some extreme cases, a condo can cost just about one-fourth or one-fifth of the cost and this is where a new investor is lured towards a condo rather than a huge mansion.

Facilities in a Condo

While a condo can’t match a mansion in sheer size and area, there are many ways in which it can give it a tough fight. Huge and spacious rooms can be found in many luxurious condos and in fact a USP here. Bathrooms with luxurious fittings from around the world can add a deft touch to the condo. for example, marble and sanitary fittings from Italy and France are considered top-of-the-line and enhance the overall effect of the condo to the optimum.

Furthermore, if you think that just a penthouse or a huge mansion is what ultra-rich wish for, think again as you would be surprised to know the investment of them in the luxury condos. Just in the Metros like Toronto and Montreal, you will find condos owned by filthy rich businessmen and celebrities alike. That’s the reason why the demand for luxury condos especially in Western Toronto region along with the prestigious Waterfront area is booming. So investing in a luxury condo right now is a very good idea for reaping good profit in the future or to sport a super-rich lifestyle.

Final Word

A condo is considered a long-term investment for any person interested in real-estate as there are many ways in which it can offer good dividend after a certain period. If you want to leave a message for me or have a question in mind, please use the comments section below.

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