To an older generation of people, the advice to buy a condo instead of buying a house might sound insane. The older generation has always pictured themselves, and everyone else, living life a certain way, which majorly included getting married, buying a house in the suburbs, and then having children. However, that is now not only a non viable option, it is also something a lot of people would not really want to aim towards.

The thing is that since the housing market crash back in 2008, the whole economy has changed and it has become extremely difficult to buy a house. However, buying a condo is still very much possible, and economical. On average a condo will cost from half to one third the price of a house that is the exact same size living space wise. So you would be getting the same amount of living space at a much lower cost. This makes it much easier to afford and pay off without having to acquire a debt that will live with you throughout life.

Other than that, you will also find that a lot of the newer condos, such as the Saint Condos in Toronto, are perfectly suited to a younger generation. Aside from not being as badly affected by a market crash, these condos are also smack in the middle of major cities. With the affinity younger people have for being in larger cities and not an hour or two away from the city, condos end up working perfectly. You are closer to your work place, the places you regularly like to hang out at, and basically closer to anything that you need to be close to such as the police department, the hospital, schools, stores, and such.

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