Have you ever considered living in Toronto or Mississauga condos? On winter days when I’m shoveling snow outside in the freezing cold, I definitely do. But it’s just not the shoveling that sometimes makes me want to live in a condo. When you live in a condo, it’s almost like being a tenant since you fewer issues (e.g. repairs, maintenance) to worry about.

Here are 10 reasons why I would choose to live in a condo.

1. More Affordable

If I was in the market for a home today, I’d probably buy a condo. With today’s higher home prices and the mortgage stress test, condos in Toronto offer a (somewhat) affordable way for first-time homebuyers to get into the real estate market and start building equity.

2. Mortgage-Free Sooner

Since condos are typically more affordable than houses, spending less on a condo means you’ll have a smaller mortgage. If your desire is to reach financial freedom sooner, a smaller mortgage certainly helps. If you’re into real estate investing, the sooner you pay down your mortgage, the sooner you can start investing in other properties.

3. No Yardwork

There are many things that I enjoy about homeownership. Yardwork isn’t one of them. With a condo you don’t have to lift a finger. The snow is shoveled and the lawn is mowed for you. It’s less one thing to worry about in your already busy life.

4. Less Repairs and Maintenance

Homeownership has a lot of joys, but home repairs aren’t one of them. Depending on the age of the house, you might have to fork over substantial money for a new roof and windows. With a condo, you usually won’t need to worry about those things. Your condo fees typically cover those things. Speaking of condo fees…

5. Fewer Monthly Costs

With a house there can be a lot of ongoing expenses that add up quickly. Water, heat, hydro and the list keeps going and keeps adding up. With a condo, these costly are typically lumped into one monthly condo fee (note that sometimes hydro is paid separately). This makes budgeting a lot easier since you’ll know what your condo fees will be for the next year.

6. Amenities

Since you’re sharing the costs with other condo owners, you’re able to enjoy amenities you might not be able to afford in your home on your own, such as a swimming pool, parking garage and gym.

7. Urban Living

Toronto condos tend to be where the action is. You may be able to live in a place you otherwise couldn’t afford if you lived in a house. Good luck affording a house in downtown Toronto, but a condo, you can probably swing that.

8. Appreciation

Due to the lack of affordability for detached houses, condos in Mississauga have been a hot segment of the real estate market in recent years. If you’re planning to move up in the market to a townhouse or detached house, a condo can be a good stepping stone to help get there.

9. Security

Condos Toronto tend you offer you added security compared to living in a house. With a house, you can always add a security system, but it’s only as secure as the alarm system you install. With a condo, you can have the added security of being located above the ground floor, not to mention you might have a security guard who keeps an eye on the property at no extra cost (it’s usually covered by your condo fees).

10. Lifestyle

Living in a condo all comes down to lifestyle. If you have a lifestyle suited to condo living, it can be a great place to live. If you truly want to find out what it feels like living in each particular condo, check the largest Canadian platform for condo reviews.

Sean Cooper is the bestselling author of the book, Burn Your Mortgage: The Simple, Powerful Path to Financial Freedom for Canadians, available now on Amazon and at Chapters, Indigo and major bookstores, and as an Audiobook on Amazon, Audible and iTunes.