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Welcome to picturesque Pickering, Ontario! Located on the north shore of Lake Ontario, Pickering has beautiful scenery, trails, parks, and dining. With its convenient proximity to Toronto, Ontario (the largest city in Canada), Pickering is the first stop on your way along Highway 401 into Durham Region and an ideal city for those who work in the big city but prefer smaller-town or suburban living.
There is no shortage of amenities in Pickering that ensure residents are close to all the necessities. Townhouses (or townhomes) are a prevalent home choice for those looking to buy a home at a more affordable price point with generally less maintenance than freehold semi-detached or detached home.
There are a variety of townhomes both north and south of Highway 401 in the City of Pickering. The two most prevalent types are freehold townhomes and condo-townhomes. These typically come in 2 and 3 bedroom options but sometimes you will find 1 bedroom and 1 bedroom plus den options as well to suit a whole variety of homebuyer needs. Sometimes these townhome units have two full bathrooms, and sometimes they are built with one full bathroom and one-half bathroom (sink and toilet only). Depending on the development, sometimes they come with a grass or interlock backyard, larger terraces, smaller balconies, and rooftop decks, as well.
The central difference between a freehold townhome and a condo-townhome is the homeowner’s responsibility to pay a monthly maintenance fee, as well as what the homeowner is responsible for when it comes to upkeep of their townhome. Freehold townhomes generally do not have a monthly maintenance fee and the homeowner is responsible for any large scale repairs to their property such as replacing the roof or windows on their own for their own separate unit. Condo-townhomes have an established condominium governing board similar to ones found in condo-apartment towers.
The monthly maintenance fees that condo-townhome owners pay covers such things as building insurance, water, and sometimes even other utilities such as hydro and heat. When large scale projects like replacing rooves (and rooftop decks), windows, and the common elements such as landscaping or driveway asphalt replacement, those expenses are typically covered by the condo corporation’s reserve fund that is continually added to through the collection of monthly maintenance fee payments by owners in the townhome complex.
Condo-townhomes are generally more inexpensive to purchase than freehold townhomes. Condo-townhomes are also typically more convenient for homeowners because there are less hands-on maintenance one needs to do. However, due to the maintenance fees that tend to go up a bit every year, condo-townhomes do not increase in value as quickly over time as their freehold counterparts do.
While there are townhome complexes in Pickering dating back to the 1970s, 80s, 90s, and 2000s, builders and real estate developers in the area are continually building brand new townhouses for sale, as well. For those looking for a brand new build, there are plenty of options in a variety of neighborhoods. As the Toronto and GTA population continues to see unprecedented growth, the need for more housing and affordable housing options is also growing. As a result, townhomes have become increasingly desirable, so there are plenty of options on the market.