Question from a Client: I am just debating whether I should get a one bedroom or two condo, does it really make that much of a difference for resale? What are your thoughts? Also, since you have more experience then I do with condos, what is the sound proofing like? What types of things can I expect to hear?

Answer: It’s really up to you and your needs which makes the difference for buying a one or two bedroom. If you can afford the two bedrooms, I would recommend purchasing this as there is just more options for resale. However, if you are on a tight budget and only need a one bedroom, then this will at least get you in to the market. I have done some research on condos over the last 6 months and have compared it to the activity in the last 30 days. As you can see the average price difference from a 1 bedroom to a 2 bedroom unit is approximately $50,000 and the days on market are practically identical, which indicates that the demand is fairly similar. However if you look at the absorption rate, which is the amount of time it will take to sell all active properties at the current rate of sales over the last 30 days, a 2 bedroom will likely sell faster than a 1 bedroom. Oddly enough a 3 bedroom or more unit will take significantly longer to sell which I would think is due to the price tag that is typically attached.

As for the noise levels, it can vary per complex of coarse but typically the newer buildings have much better building codes which limit the noise from your neighbour. I live in a condo that is on the main floor and I rarely hear my neighbours to the side of me, however I do hear the person upstairs more commonly. I never hear people talking, but I do sometimes hear muffled music however walking/stomping and slamming of doors is the most common noise. I would say that the best way to avoid noise would be to purchase a top floor unit, however this is not a guarantee that you won’t hear your neighbours.