In recent years, Ontario has become one of the biggest markets in North America
for luxury homes. Toronto may not seem like it has enough room for a luxury
home, because most people think of luxury homes as sprawling mansions with four
pools, tennis courts, stables, and armies of servants. However, there's
more to luxury than space, as evidenced by the real estate prices in downtown
Toronto. So watch out mansion, there's a new player in the luxury home
market that's taking the world by storm. It's the luxury condo,
and nowhere in Canada can you find more of them than in downtown Toronto.
With more and more developers trying to make their fortunes off of Toronto's
condos, it's not just enough to have a condo anymore if you want to bring
in top dollar. You have to build bigger buildings with better views, better
service, and fancier amenities. Gone are the days of an electric-ring stove
and flowered wallpaper. Today's condos have things like an en-suite wall
mounted boiler for personal control over the hot water, and an entire specially-treated
glass wall from which you can admire your view of Lake Ontario.
The best condo developers don't stop at improvements to the individual
units, either. Like beach homes are known for their access to the beach,
location matters when it comes to condo buildings as well. No one wants to live in a building surrounded by petroleum refineries or in a neighborhood plagued
by gang issues. Condo developers choose their locations carefully to maximize
the beauty of the views, the access to transportation, and how upscale the surrounding
clubs and restaurants are, in order to provide the best possible experience
to their tenants.
Still, owning an apartment in a larger building isn't for everyone. Some
would rather buy suburban real estate because they would have a yard, garden,
garage or driveway. To combat this mentality, condo developers have developed
rooftop gardens for their residents to tend, and balconies where they can sit
outside and take the air like they would on a backyard deck. Driveways have
been replaced by underground parking structures with reserved spaces for each
tenant and extra ones for their visitors. Garages are largely unnecessary when
you don't have to do your own shoveling or yard work, but almost all condos
provide storage space.
To further distinguish their condo lifestyle from what you can expect living
in an ordinary house, condo developers have also outfitted
their buildings with the most luxurious possible amenities. Buildings often
sport their own swimming pools and weight rooms so that their residents don't
have to bother joining a gym. It's also not uncommon to see full-out in-building
theaters in place of TV rooms. Some offer laundry service, while others are
outfitted with entire spas complete with on-staff massage therapists and cosmetologists.
Some buildings even go so far as to have retail shopping on the premises, plus
underground paths or pedways that connect home with work.