As more and more people opt to move out of their houses and move in to condos, and as more and more people choose to buy condos as their first properties rather than houses, we will try and understand why people are going down this path and what the benefits of living in a condo actually are.
A surprising number of older people, particularly people in the 45 and above age bracket, are moving out of their houses and in to condos and luxury condominiums, like the CG Tower condos, and they seem to be happy with this decision. When looking at why people who are older and generally thought to be better adjusted and settled in their lives end up moving out of houses that they had invested in, to go live in a condo instead, we came to two main conclusions. First of all, the amount of work and effort that is needed to keep up a house can become too much for people and they would much rather live in a condo, where the only real effort in house keeping is to take care of the insides of the living space. Secondly, the fact that the economy world wide is quite bad for most middle to upper middle class people people means that they are looking to cut out unnecessary large expenses. And as the saying goes, with a bigger house there are bigger costs.
Moving in to a condo feels like a way to keep people from consistently spending a lot of money and also a lot of effort and time on things like house maintenance and property costs. Condos cost a lot less than a house would and they come with a maintenance team to help keep everything in shape, so they appeal to older people too.