Are you looking around at condos for sale in Brampton? Then, like most buyers, you must be at sixes and sevens trying to choose between a condo unit in a small building or a large building.
Condos in a smaller building AKA boutique condos are usually found in a mid-rise building. These buildings usually have around 10 to 100 units. These condos have a more intimate and exclusive feel as compared to those in larger buildings.
On the other hand, big condo developments usually house over 1000 units and have more than 15 floors. These buildings offer more amenities and larger common spaces to residents. However, living in such close proximity to residents in a large condo building may not be everyone’s cup of tea.
So, should you go ahead with a condo unit in a smaller building or a larger one? Let’s look at the pros and cons of each housing option to understand better!
Pros and Cons of Buying a Condo Unit in a Smaller Building
Pros -
A Stronger Sense of Community
Since condos for sale in Brampton in smaller buildings have fewer residents, you’re more likely to get to know your neighbours. You may get help with small tasks from your neighbours, and get invited to gatherings or simply have someone to chat with. This can especially be a plus point for those who live alone or are new to the area.
Lower HOA Fees
In a smaller building, there are fewer shared spaces and amenities that need regular upkeep and maintenance. So, no pool means no expensive pool cleaning chemicals or maintenance staff and no gym means no equipment repairs. This translates to lower monthly HOA fees for you, the condo owner.
More Manageable Decision Making
In a smaller condo building, there will be fewer people to convince when proposing a building improvement or changes to condo rules. Reaching a consensus is also often quicker with a smaller group of condo owners. This means getting things done like repairs or upgrades can happen more efficiently and quickly in a condo for sale in Brampton.
Quieter and More Peaceful Living Environment
The fewer residents there are, the less likely you are to be disturbed by loud neighbours playing music, having parties or simply going about their daily routines. Hence, overall, the smaller condo building will have a calmer and more peaceful feel. So, whether you work from home, have trouble sleeping with noise, or simply enjoy a peaceful environment, a smaller condo building is the perfect fit for you.
Ample Parking and Storage Space
In a smaller condo building, you’re less likely to have to fight for a parking space or deal with the hassle of searching for available parking. Also, smaller buildings usually have more dedicated storage space available per unit.
Cons -
Not Many Amenities
Accommodating amenities such as gyms, pools, and community rooms requires a significant amount of square footage. Condos for sale in Brampton in smaller buildings simply may not have the space to build these features.
Financial Impact of a Major Repair Will Be Big
In a smaller condo building, there are fewer residents to share the burden of maintenance costs. As a result, if a major repair is needed, the financial impact on each condo owner can be big.
For instance, let’s suppose a smaller condo building has 10 units and a larger condo building has 50 units. If a major repair costing $100,000 arises, each condo owner in the smaller building would have to pay $10,000 while each condo owner in the larger building would be responsible for only $2,000.
Harder to Maintain a Private Lifestyle
The chance of bumping into neighbours in common areas such as hallways, elevators, or laundry rooms is much higher in a smaller condo building. This can be inconvenient to you if you prefer keeping it to yourself in your day-to-day life.
Pros and Cons of Buying a Condo Unit in a Larger Building
Pros -
More Amenities
Imagine having a host of amenities such as a gym, swimming pool, and rooftop deck all within your building. Condos for sale in Brampton in larger buildings often offer these amenities and more to residents.
Variety of Unit Sizes
Larger condo buildings have condo units of different square footage and price points. This allows you to find a perfect condo unit that fits your budget and lifestyle preferences.
Stronger Reserve Funds
Larger buildings have more condo units meaning the cost of maintaining common areas is spread out among a larger pool of residents. This translates to a larger reserve fund overall.
A strong reserve fund ensures the condo association has enough resources to address repair and maintenance issues. So, these problems can be addressed without needing to ask each owner for additional money through special assessments.
Increased Anonymity and Privacy
Some people value their privacy and prefer not to have any close relationships with their neighbours. A larger building is perfect for these homebuyers as these condos offer a sense of anonymity to residents. They can come and go without feeling any obligation to socialize.
Greater Security
Condos for sale in Brampton in larger buildings often have a layered security approach. They may have controlled access entry systems such as key fobs or keypads, security cameras in common areas and even 24/7 security personnel. This means it’s highly unlikely for an unauthorized individual to enter a larger condo building.
Cons -
Crowded Amenities
Imagine waiting in line to use a treadmill at the gym or fighting for a lounge chair by the pool. In a large building with many residents, popular amenities can get swamped during peak hours such as evenings and weekends. This can make things frustrating for you as you may not be able to use the amenities according to your convenience.
Less Sense of Community
In a smaller condo building, it’s common for you to bump into your neighbour while taking out trash or waiting for the elevator. But larger buildings often have multiple floors and potentially several entrances. This can make it harder for you to build a rapport with neighbours or to develop a sense of belonging or community.
Potential for Noise Issues
In condos for sale in Brampton in larger buildings, you simply have more neighbours. This means there’s a higher chance of someone creating noise in the building, whether it’s loud music, barking dogs, noisy kids, or even just footsteps echoing through thin floors.
Less Control Over Decisions
If you buy a condo unit in a larger building, remember that your individual vote and voice will carry less weight in Homeowners Association (HOA) meetings. This is because, with more residents, it can be harder to get everyone on board with a particular decision.
The Final Verdict - What’s Right for You?
To decide between a condo in a smaller building versus a larger one, you must consider your lifestyle and preferences. A condo for sale in Brampton in a smaller building often offers a more tight-knit community feel with fewer units and potentially lower maintenance costs. These condos are great for those who want to know and interact with their neighbours and prefer a quieter living environment. On the other hand, condos in larger buildings are best for individuals who prefer a host of amenities.
Apart from considering the size of the condo building, prioritise location. Figure out how close the building is to your workplace, kid’s schools and amenities such as shops and parks. Also, weigh factors such as building maintenance, security, and future resale value.