Have you ever considered living high above the city? Not only do condominiums provide a bird’s eye view of the world, they also help to build a homeowner’s equity. According to Vivian Risi, from Royal LePage Your Community Realty the condo market is booming and although the competition is fierce, the market is quite diverse and ranges between $350,000 to $750,000.

With so many towers being built and condos being sold, you may wonder who’s buying them.

“As baby boomers retire, many of them are selling their homes and buying a condo,” explains Risi, adding that some baby boomers then decide to buy a second home in a warmer climate. Young couples looking to live in the downtown core and mature lifestyle couples are also moving into condos. “It’s a convenience factor – when both partners work, they don’t have time to deal with the upkeep of a house.”

Condos are also being bought up by investors, especially international investors who see the Canadian market as safe and appealing.

“They buy 10 or 20 units in a condo building and then rent them,” says Risi. “Condos are a great investment opportunity, but not just for big time investors. With interest rates being so low, condos are a wise investment for first-time homebuyers.”

If you’re thinking about buying a condo, Risi encourages homebuyers to come and visit one of Royal LePage Your Community Realty’s condo specialists.

“They specialize in resale of condo units and condo buildings that haven’t been built yet,” Risi says. For some people it may be difficult to buy something that they can’t see, but the condo specialists can show buyers other condos built by the same builders and go through floor plans to help them envision the space.

For more information on buying a condo, visit www.yourcommunityrealty.com.Check out the informative videos from Vivian Risi Your Community Reality at DailyWebTV.com, where you can learn something new every day.