August 2016
Smaller condos were never intended, and may never work, for families.
Families require more space for children. No matter how efficient the space in a 600 sq. ft. condo, it remains a confined space many feel is too small for children.
While it is generally recognized that families require larger condo spaces, the reality is that families are less able to pay the cost of purchasing larger suites. Many of these spaces are being used by two income couples without children or roommates who share in the cost.
It turns out that singles sharing a larger space can do so more economically than living on their own.
The city believed that downtown dwellers would remain downtown as they marry and have children if there were larger condominium suites available. It turns out that these spaces are too expensive.
Condo owners, and prospective owners, focus on functionality. Developers have tried to build smaller and more economical three bedroom suites. Cost savings have resulted in poor layouts and small spaces that don’t work. Some bedrooms are barely large enough for a bed and dresser.
Some of these spaces become student accommodation. Others are purchased by singles who rent out the extra rooms to save money.
The cheapest and smallest three bedroom condo suite on realtor.ca lists for almost $500,000 and is less than 800 square feet.
