Marnie Bennett: Empty-Nesters Turn to Convenience, Luxury of Condominium Lifestyle

OTTAWA, Canada, Oct. 16, 2012 /PRNewswire/ -- Ottawa, Canada, has experienced what the Ottawa Business Journal deems a "healthy" boost in housing prices during the third quarter of 2012. The article asserts that two-story dwellings, detached bungalows, and standard condominiums have all increased in price during the penultimate quarter of the year. Marnie Bennett, founder of Bennett Property Shop Realty and noted real estate broker, is particularly interested in the 6.1 percent rise in condo prices. Her area of specialty, Bennett plays a major role in the sales of some of Ottawa's most sought-after condominium residences. She agrees with the article that a major catalyst for the surge in popularity that condos have experienced is the desire of empty-nesters to downsize while maintaining a more active lifestyle.

John Rogan, manager of Royal LePage Performance Realty, explains that even an increase in the number of unsold condo units has not impacted the growing prices within the sector: "Despite an increase in inventory, standard condominium prices rose because they are a very popular choice for first-time buyers in the region. Another reason for the increase is that empty-nesters looking to downsize are buying higher-end standard units. This would also impact the average price."

Marnie Bennett believes that condominiums are a wonderful option for empty-nesters and retired couples. She explains that the lifestyle that these residential units offer is often in line with the priorities of such homeowners. "Oftentimes," Bennett states, "empty-nesters and retired homeowners want living spaces that require minimal maintenance. There are, certainly, exceptions, but many buyers in this demographic would rather spend time focusing on hobbies and other interests than on mowing the lawn or repairing the roof. For this reason, condos are a great alternative to single-family homes and even townhomes. They offer the active lifestyle that empty-nesters want, due to their close proximity to a variety of entertainment venues and cultural events, among other things, and they require the most basic of maintenance."

The Canadian housing market has been the subject of speculation regarding its sustainability over the last few months, but Bennett reports that these modest yet strong price increases indicate the health of the market. Bennett and other real estate professionals look forward to seeing how the market continues to expand and how Canada's changing population will impact the industry as a whole.

ABOUT:

Marnie Bennett is the founder of Bennett Property Shop Realty. Also a noted real estate broker, Marnie Bennett specializes in the condominium market in Ottawa, Canada. Through her insight, Marnie Bennett guides her clients through the real estate industry and assists with the buying and selling of a wide range of properties, from starter homes to multimillion dollar estates. Bennett also provides condo and home development marketing strategies and the design of ground-breaking resale tactics.

SOURCE Marnie Bennett