A condominium is a private unit that’s owned by an individual and is situated within a larger residential complex. Condos are located in desirable areas within cities and usually come with several shared amenities, such as a gym, swimming pool, party room, etc. A homeowner’s association typically manages these common areas and sets forth specific rules and restrictions at the building level, while also charging monthly fees.
Are condos a good investment?
Buying a condo is a smart choice if you’re new to real estate investment. For instance, apartments for sale are less expensive than single family homes and require less maintenance. Granted, they also don’t appreciate in value as much as houses and come with homeowner’s association fees and specific rules and restrictions. Even so, condos can still offer decent returns when rented out. In addition, there’s often increased interest in condos due to their desirable location and amenities, so finding tenants should be easy. Alternatively, if you’re a condo owner residing in your own unit, you can become a real estate investor a few years after purchase. You can refinance your mortgage, extract some equity, rent out the condominium and then use the equity plus the rental earnings to buy your next property.
How many condos for sale are available in Saskatoon, SK?
There are 378 apartments for sale in Saskatoon, SK, with prices ranging from $34,900 to $1,700,000.
How do I search for condos for sale in Saskatoon, SK?
Browsing Saskatoon, SK apartments for sale has never been easier on Point2! Narrow your search by filtering listings based on price, square footage, number of bedrooms and bathrooms, year built, etc. Additionally, sort Saskatoon, SK condos for sale according to price drops in the last six months so you never miss a bargain. Interested in condos for sale near your location? Use the map view to find apartments for sale nearby.
What is the difference between a condo and an apartment?
An apartment is a unit in a building owned entirely by a landlord — a leasing company that handles all the rentals. Conversely, a condo is owned by an individual who either lives in the unit or rents it out. Essentially, you can buy or rent a condominium, whereas you can only rent an apartment. Unlike apartments, condos are newer and more common in larger cities and in more desirable locations. They’re also often associated with luxury living, offering a wider set of amenities and facilities than apartments.
What is the difference between a condo and a townhouse?
A condo is an individual unit within a large residential complex that shares several walls, as well as the floor and/or ceiling, with other condos. In contrast, a townhouse is a vertical structure with multiple levels and only one or two walls in common with adjacent units. Notably, townhomes usually include a larger total living space and offer more privacy. As opposed to condominiums, owning a townhouse means not only owning the interior of the property, but also the land it sits on, so you’ll have a private front and backyard at your disposal. As a result, townhomes tend to be more expensive than condos.
Saskatoon is home to over 240,000 people and is located in the central portion of Saskatchewan along the South Saskatchewan River. The city covers 209.56 square kilometres near the communities of Grasswood, Eagle Ridge, Cathedral Bluffs, and Martensville. Saskatoon is surrounded by prairie grasslands and bodies of water, such as lakes, streams, and marshes.
Multiple highways run near and through the city, providing easy access to nearby communities. The city’s amenities include a university, parks, entertainment options, and a downtown business district.
Saskatoon is an affordable city in which to own a home, with prices ranging from $200,000 to $450,000.
The northern section of Saskatoon features mostly low- to mid-priced single-family homes, as well as some affordable condo and row housing options. Newer-built homes are common along the edges of the city. Saskatoon’s central section has many single-family homes available at a range of prices, with the most expensive options located near the river. Vacant land is abundant here, and there are newer, more expensive condo options as well. The majority of the real estate in the southern section is mid-priced single-family homes on large lots. Condos and row houses can also be found here.
Condo Market
Condos can be found throughout the city and include a mix of newer and older buildings. Recently completed, The Brixton Phase 1 by Maxim Development offers 63 units in a 3-storey building, with prices ranging from around $185,000 to $280,000. Amenities at The Brixton Phase 1 include underground parking, a hotel-style lobby, two party rooms, storage lockers, and large balconies. Another recently completed building, Providence Phase II by Remai Group, is also 3 storeys and has 69 units available for prices ranging from $270,000 to $310,000. Amenities include an exercise room, a guest suite, and a meeting room.
The Banks – Riversdale by Le Fevre and Company Property Agents was also completed in the past couple of years and has amenities such as balconies, ground-level commercial space, courtyards, and underground parking. Prices for units range from around $220,000 to $650,000. Currently under construction is No. 1 River Landing by Urban Capital, which will be a 20-storey building with 125 units priced between $250,000 and $1 million. Building amenities will include a large lobby, a lounge, concierge service, and a fitness room.
Employment
Saskatoon’s main industries include potash, oil, agriculture, and the more recently established digital media industry. Agricultural products include grains and livestock, while mining and extraction businesses, other than those already mentioned, include gas, uranium, gold, diamonds, and coal. There are also many companies that offer technology services and equipment to aid in the oil and gas, mining, and agriculture industries. Some of Saskatoon’s major employers include Cameco, PotashCorp, BHP Billiton (diamonds and specialty products unit), the Canadian Light Source, and the Saskatoon John G. Diefenbaker International Airport. The city’s unemployment rate is around 6%, which is on par with the national rate.
Transportation
Public transportation service in the city is provided by Saskatoon Transit, which services around 25 routes throughout the city with its fleet of close to 190 buses. Numerous highways run in and near Saskatoon and provide fast and easy access to nearby communities, as well as helping the city transport many of the goods mined/extracted in the area. Other transportation options in the city include the Saskatoon John G. Diefenbaker International Airport, Via Rail (passenger train), and Greyhound (long-distance bus).
Schools
Saskatoon’s three main school boards – the Saskatoon Public School Division, the Saskatoon Catholic School Division, and the Conseil des Ecoles Fransaskoises – operate around 80 elementary schools and close to 15 high schools throughout the city. Private school options are also available.
Saskatoon’s post-secondary options include the University of Saskatchewan, St. Thomas More College, the First Nations University of Canada (Saskatoon campus), and Saskatchewan Polytechnic.
Family Life
The Remai Modern is an art museum featuring modern and contemporary works by local and international artists. Pieces include paintings, textiles, photographs, sculptures, mixed media, drawings, and other art forms. The museum has 11 galleries on three floors, as well as lounges, an onsite restaurant, play areas, a theatre, a store, and studios.
Kinsmen Park features the PotashCorp Playland, which has a Ferris wheel, a carousel, a train that visitors can ride, sandboxes, spray parks, climbing areas, greenspace, walking paths, treed areas, and benches. The park has no admission fees and is a popular spot for families in the summer months.