Over the last year, the very definition of what an Edmonton Adult Condo (in Alberta) has changed drastically. Until now, there was no legislative precedent in terms of what could or couldn’t be done when it came to set age restrictions in a condo. The NDP bill is designed to provide “families with children housing options in the new year if proposed changes to Alberta’s human rights legislation are passed”. The proposed bill includes some key aspects that are extremely important to keep in mind if buying an Edmonton condo is something you are considering this year.
Not All Edmonton Condos Will Be Affected
There are some exemptions to this bill. Most importantly, Edmonton condo buildings can set an age restriction of 55+. This is good news for many of our clients who are interested in downsizing and moving into the condo life while benefiting from neighbours in a similar age and life demographic.
The Bill Won’t Change Your Life Anytime Soon
For those condo owners that have bought into “age restricted” buildings such as 18+, these new rules will not come into effect for another 15 years. According to Hugh Willis, spokesman for the Canadian Condominium Institute in northern Alberta, he believes that the “15-year transition is a “common-sense compromise” for owners who will have to decide whether to switch to a seniors-only building or open up to families with children”.
What This Means To You
When buying an Edmonton condo it really comes down to your life over the next 5-7 years. This is typically the amount of time one owns a property so it is important to factor in all potential lifestyle factors. When my husband and I purchased our first home, which is a condo, we too had to make the decision of whether we would be okay with buying a condo that had age restrictions in place. While we didn’t know when we would consider having children, it still was in the back of our minds and I am honestly so happy we decided to purchase in a condo building that would allow us to grow as a family if we chose. We welcomed Harrison into our life 1.5 years ago and are still so happy that we made the choice of living in a condo that would welcome our son.
No one can predict the Edmonton Real Estate Market and if we had been forced to move when I found out we were pregnant with Harrison, it would not have been ideal in our lives both from the market factor but also our preference for the downtown life.
During this time though, I have also had the amazing opportunity to work with many incredible seniors (some of my 80-year-old clients) who are so full of life. For them, it was important to find a place that offered a more low maintenance style living alternative, but also a place where they could connect with like-minded individuals. Ultimately, we found them great properties in 55+ buildings where group outings, holiday gift exchanges, and card games were the norm.
At TruHome, our goal is to get to know YOU our clients and truly understand what is important in your lives. From here, we can match you with the right property.
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