Ground Floor Condos: What’s The Scoop?
Purchasers tend to have pretty strong views on ground-floor condos. Regardless if it in a two storey low-rise building or a thirty storey skyscraper, ground floor condo units (units with direct access through one or more doors to the outside of the building, but which also have common hallway access) speak to a certain type of buyer.
The main selling features of a ground-floor entry condo include:
1. The look and feel of a townhome, without the price tag. Similarly sized ground-level condo units typically fetch far less on a dollar-per-square-foot basis relative to townhomes.
2. Yard access. While not a hard-and-fast rule, most ground-level condos come with some measure of yard space. Although that yard space is often designated as common property or limited common property, in practice, yard space directly in front of a ground-level condo often functions as a private garden.
However, ground-floor entry condos do come with their drawbacks, as well, namely:
1. Privacy. Being at ground level means that anyone walking past on the street or on common property surrounding the development have a straight shot to peer into your home. Depending on how busy the surrounding area is, having to keep your drapes or blinds closed during the daytime might be necessary to maintain privacy.
2. Security. Given that ground-floor entry condos are at street level, the possibility of theft from such units is typically much greater than for upper level units. Most condo units do not come with a security system at the time of original construction. However, many owners of ground-level condo units choose to make this upgrade to ensure that their space is secure—much as one would expect from the owner of a detached home.
While this article provides a nice synopsis of the key features underlying whether or not ground-floor condo living is a viable option for an average purchaser, there are countless other factors that might play in to one’s decision of whether or not a ground-level condo unit is the right choice for them.
If you have questions about the market or would like to discuss anything mentioned in this article, feel free to send me an email or drop me a line—I’d love to chat. I’m a Vancouver Realtor who is an expert in residential real estate and sell extensively condominiums, townhomes and detached homes.