You probably grew up with the goal of being a successful adult who has a house of their own in the suburbs, and now that you are an adult, you are most likely already aware that buying a house will actually serve you no purpose, and you are not alone in this regard. A lot of young and emerging adults today are not interested in buying a house, hence leading to the popular headlines about how millennials have killed traditional housing and dealt major blows to the real estate market.
Most adults today are either living in rented apartments or in case they want permanent property ownership, buying a condo instead. In fact, real estate trends have shown a drastic increase in the demand for condos over the last 10-20 years. This growing demand is why there are so many projects like the Brightwater Port Credit Condo project being launched almost every year.
Now, people are moving away from houses because they are just expensive in every regard. Not only is it expensive to buy a house itself, but it also gets more expensive later on as well. Most of us have our jobs near the city, and living in a house in the suburbs means spending hours commuting back and forth every week, and this means buying a car and then spending a lot of money on fuel and maintenance of the said car and so on. This is just a few reasons why people no longer feel the need to buy a house and are instead preferring unconventional options like condos and making them the new norm instead. Condos are seen to be the happy mix between a house and an apartment, and this ends up creating the perfect solution for anyone looking to invest in permanent property ownership.