What you should know about car-free condos
Are you in the market for a new place to live? Are you thinking of buying a condo? Are you a bit frustrated with the expensive prices of property?
I know first-hand how expensive a condo can be in Toronto right now. It’s perfectly normal to stress about the costs. I was shocked when I found out that in some places you need to buy a parking spot too – and some go for as much as $50,000 in new developments.
You might be thinking about how you could possibly afford another expense. You’re also likely worried about the parking situation. I have great news for you. There’s a new way to save money. Ditch the car and walk to work when you move into your new condo.
What’s a car-free condo?
The name pretty much says it all. The Toronto Star wrote about one of the first car-free condo buildings in the GTA back in 2009:
“The Toronto-East York community council overruled city staff skeptical about the dearth of parking to allow a plan that provides for only nine car-share rental spots, plus 315 spaces for bicycles.”
Today, car-free condos are more common in the GTA. Deborah Scott, the developer/architect of a car-free condo provided the following comment in this article from Toronto Metro:
“It’s just that when you live downtown, cars can be a problem. Parking is hard to find, and it’s often faster to get around by transit or biking.”
Long story short: car-free condos are new units don’t come with car parking. These projects are typically in the downtown core of a major city. The assumption is that you plan to take public transportation, ride a bike, or walk to work.
Is a car-free condo for you?
For many people living in cities, especially millennials, the car-free lifestyle is desirable. It might even be the right move for you. There are three main factors to consider before you move into a car-free condo:
- Where do you work? Do you work from home, or do you commute an hour to work? You could save plenty of time and money if you find a car-free condo near your employer. You could finally give up that long commute to work with annoying strangers on the subway.
- How will you get around? Do you have a plan for getting around town? I love to walk everywhere. Do you ride a bike? Do you have a bus pass?
- What do you value more? For some, location is everything. Do you care about driving? Would you like to finally ditch the car?
The world is completely changing from how it was when our parents raised us. These days you can get by without a car. Car-free condos can be great for a modern, urban lifestyle. However, a car-free condo won’t work for everyone. Carefully consider what you want from life, what works best for you, and decide whether or not it’s time to ditch your long commute and fully integrate into the urban lifestyle.