Community Spirit

What many condo buyers and owners do not consider are the "intangibles" of condominium living.

Words of Wisdom. Look outside the box.

If you do you will see that condominiums are much more than just the physical units and buildings.  Condominiums are a lifestyle.   

For condominium buyers, who usually set out to purchase a condominium unit which meets their physical needs such as the location, size and design of unit, other factors often considered include the reputation of the builder, the amenities that will be provided, the extra features which are offered and what the monthly common expenses will be.

Condominium unit owners measure their property values in dollars and cents.  Their concern is how to increase the market value of one´s unit as compared to similar units in other condominium complexes.

What many condo buyers and owners do not consider are the "intangibles" of condominium living.   These include the living and breathing community.   The Community Spirit.  A place where residents have developed a sense of pride in their community. Where cooperation and harmony are promoted.

There is little doubt that establishing a network of residents and building positive relationships among owners will certainly add value to a condominium property.

How does one create this? Many condominiums have newsletters, committees, holiday parties and social events. Some condominiums organize trips and even 10k runs to raise money for charitable causes.  A condominium which works towards building a community will certainly add value to your property, value which is often immeasurable but will be a place where purchasers will want to buy and live.  

Think about this next time you either consider selling or buying a condominium unit.

Denise Lash

Denise Lash is a condominium lawyer   Heenan Blaikie LLP