Being a single parent can be challenging and as a result, many parents consider renting over getting a mortgage on their own. Still, buying new is a smart investment. It allows you to build equity and give your kids a sense of security and a permit place to call home.
As a single parent trying to find a home that meets your needs and budget, one of your first considerations is likely what type of housing will work best for your needs. While a single-family home is the traditional choice, it comes with a great deal of maintenance requirements and it may be over what you're comfortable spending.
Two options that may work best for you and your family are townhomes and apartment condos. Check out the options below, to see if condo living is right for you.
Townhomes offer an excellent, low-maintenance alternative to buying a single-family home. With a townhome, you only share a wall with one or two neighbours while still enjoying plenty of living space and enough bedrooms to give everyone privacy. Townhomes are typically two or three stories tall with an easily maintainable yard which means less exterior upkeep.
Your home will have an attached garage, private balcony and shared amenities for the community. These can range from things like tennis courts and playgrounds, which makes townhomes the perfect compromise between a single-family house and a low-maintenance lifestyle.
There are 2 types of townhome options to choose from: maintenance free or fee simple. A maintenance free townhome offers a low maintenance lifestyle. They have a monthly condo fee that covers your exterior maintenance and repairs including lawn care & snow removal, insurance & condo management services. Single parents often appreciate that these homes come with fewer obligations, as you are not responsible for a large lawn or winter snow removal. A fee simple townhome does not have a monthly condo fee for those who don't mind doing a bit of house maintenance.
Townhomes also tend to be far more affordable than single-family homes, both in terms of maintenance and value per square foot. You will still enjoy a sense of community with neighbours without giving up convenience or space.
StreetSide Edmonton has several townhome communities that offer affordability and value. Altius Secord boasts a boutique collection of townhomes in West Edmonton with spacious floor plans and a street-oriented design. With the design of this development, you don't pay condo fees! These fee simple two-storey townhomes range from 1365-1415 square feet and have optional basement development plans if you require more space.
Altius townhomes are available in Spruce Grove and several Edmonton communities like Tamarack, Crystallina, and Keswick. They offer a variety of floor plan options to fit your lifestyle.
Condominiums are a popular choice throughout Canada. 1 out of every 8 Canadians living in a condo, according to Statistics Canada. They are usually found in apartment buildings which can offer an extra level of security and safety, including controlled access to the building with security fobs. Many single parents appreciate this housing option because they can worry less about living alone with kids or making sure kids get home safely from school on their own.
Apartment condo buildings are usually located within walking distance to nearby schools and shopping, which can make the logistics of getting around with kids much easier. The building itself may also have a range of amenities such as a roof top patio, community garden or a fenced dog park.
As an added benefit to condo ownership, you will not own the land or common space, only the condo. In exchange for monthly condo fees, the outdoor and indoor common areas, including recreation facilities, landscaping, and parking is well maintained for your use. You will never need to worry about shoveling snow off the sidewalks or cutting the grass, giving you more time to spend with your family.
A great apartment condo option is the Crossroads of Rutherford development in South West Edmonton. You get to enjoy park views and quick access to nearby paths, playgrounds and shopping at South Edmonton Common and Currents of Windermere. Crossroads of Rutherford condos are right next door to Monsignour Fee Otterson School with several over schools under construction in the area.
Both condos and townhomes offer affordability and low-maintenance living to help you make the most of your budget, time with the kids and give you freedom from household chores. If you're struggling to choose among your many housing options, it may help to consider how much space you'll need, whether you want the safety of a secured building, how useful building amenities can be to you and your kids, and how much upkeep you want as a responsibility.