Condo Living Might Be Your Next Big Move: Pros, Cons, and What to Expect from 2026 Developments

What’s Coming in 2026 and Beyond

Major urban centres like Toronto, Vancouver, Calgary, and Ottawa are seeing a wave of new condo construction with expected completions beyond 2026. These upcoming developments are designed with modern living in mind. Many are being built with energy-efficient systems, integrated smart home technology, stylish amenities such as rooftop gardens and fitness studios, improved security systems, and convenient locations close to public transit, shops, and services. Buyers are especially drawn to the appeal of moving into a brand-new space that requires little to no immediate maintenance or renovation.

Pros of Living in a Condo

One of the biggest advantages of condo living is ease. Maintenance of the building exterior, landscaping, and shared spaces is handled by the condo corporation, not the individual unit owner. New condos also often come with access to features like gyms, shared lounges, co-working areas, and even concierge services, all included in monthly fees. Many buildings have security features like secure entry systems or monitored lobbies, which add a sense of safety. Location is another benefit. Condos are typically situated in walkable, vibrant neighbourhoods with restaurants, parks, and entertainment nearby. For investors, condos in growing Canadian cities can also provide reliable rental income due to ongoing housing demand.

Cons of Living in a Condo

Despite their appeal, condos are not without limitations. Monthly condo fees can be high, depending on the size of the building and the amenities offered, and these fees are required even if you don’t use all the services. Privacy can be a concern due to shared walls and communal areas. In many cases, condo boards have rules covering noise levels, pets, short-term rentals, and changes to the unit’s appearance. Outdoor space tends to be limited. Most units offer only a small balcony or terrace. In addition, resale values may not rise as quickly as those of detached homes. Selling can also take longer if there are multiple similar units available in the same building.

Cost of Living in a Condo

Condo ownership in Canada includes both upfront and ongoing costs. While the purchase price of a condo is often lower than a detached house in the same neighbourhood, the monthly expenses can add up. Typical costs include mortgage payments, condo fees (which can range from $300 to over $1,000 per month depending on the building), property taxes, and utilities. Some condo fees cover heating, water, and maintenance, but internet, hydro, and insurance are usually separate. Condo insurance is generally more affordable than full homeowners insurance, but still necessary. Property taxes vary based on municipal rates and the assessed value of the unit.

Even though condos can be more budget-friendly in Canada’s high-cost cities, it is essential to calculate the total monthly expenses and weigh them against your income and lifestyle needs.

Final Thoughts

The wave of new condominiums coming to market in Canada after 2026 offers an attractive lifestyle for those who prioritize convenience, modern amenities, and reduced upkeep. While condos may not suit those who want more space or outdoor access, they can be a smart housing solution for individuals and couples seeking urban living, lower maintenance, and access to well-designed community spaces.