What is the difference between a high-rise and low-rise condo? In Canada, the answer usually boils down to building height, number of units, and the type of lifestyle you’re looking for. Both options come with unique perks and considerations, and understanding the differences can help you make the right choice for your budget and circumstances.
In this article, we’ll compare high-rise and low-rise condos, highlight the key differences between each, discuss condo insurance, and give you the knowledge you need to stay informed in your journey to finding your perfect condo.
What is the difference between a high-rise and low-rise condo?
The most notable difference between a high-rise condo and a low-rise condo is the height of the building and the number of floors. A high-rise condo, as the name suggests, will have more floors and units than a low-rise condo. This means more residents, and often more amenities as well.
Both types of condos are multi-unit residential buildings with shared spaces that are maintained through condo fees, with each unit contributing to these costs. However, size, location, and insurance costs can vary between the two.
What is considered a high-rise condo in Canada?
In Canada, a high-rise condo can generally be described as any residential building with more than four to six storeys, though high-rises in urban areas can have 10, 20, and even 50 or more floors. Oftentimes, large high-rise condos come with shared facilities such as gyms, pools, lounges, and rooftop spaces.
- Number of floors: 5+ floors, often over 10 in major cities
- Number of units: Large quantity of units, typically hundreds in a single building
- Location: Mostly found in city centres and downtown areas
- Amenities: Pools, gyms, concierge services, underground parking, rooftop terraces
- Elevators: Required due to building height, sometimes with multiple elevators per building
Advantages of high-rise condos
- Access to amenities like gyms, pools, or rooftop terraces
- The higher the floor, the better the view
- Often in walkable, transit-friendly neighbourhoods
- Security with front desk or concierge services
- Many offer underground parking
Disadvantages of high-rise condos
- Longer waits for elevators, especially during peak hours
- Potentially higher condo fees due to amenities and maintenance
- More residents can sometimes lead to reduced privacy
- Evacuation in an emergency may be more complicated, depending on how high your unit is located
What is considered a low-rise condo in Canada?
A low-rise condo can be defined as a building with four storeys or fewer. These buildings may resemble townhomes or smaller apartment-style complexes. They have fewer units and often minimal shared amenities, given the size of the building is typically more compact.
- Number of floors: 1-4 floors
- Number of units: Likely fewer than 50 units
- Location: Found in suburban or residential neighbourhoods and smaller towns
- Amenities: Modest amenities such as a shared courtyard or small gym
- Elevators: Some may have an elevator, while others may only have stairs
Advantages of low-rise condos
- Potentially more privacy since there are fewer neighbours
- Often less expensive than high-rise units
- Easier access to your unit with fewer stairs or elevator delays
- May often include outdoor spaces like balconies, patios, or gardens
- Nurtures a residential, community-oriented atmosphere
Disadvantages of low-rise condos
- Fewer amenities and shared services
- May be further from transit hubs or city centres
- Older buildings might lack modern upgrades or safety features
- Resale value can vary depending on location and market demand
- Limited building security
Does the size of a condo building affect the price of insurance?
Yes, the size of a condo building can influence how much you pay for condo insurance. Larger buildings—like high-rises with hundreds of units—generally carry more risk. This is because more residents mean more potential for incidents, and additional shared amenities and complex infrastructure can increase the chances of costly damage.
Because of this increased risk, owners in large condo buildings may be required to carry more personal liability coverage. For example, while $1 million in liability coverage is usually the minimum, high-rise buildings often require $2 million or more. Fortunately, this added protection usually comes at a relatively low cost, with only a modest increase in your insurance premium.
Keep in mind that building size is just one of the many factors insurance providers use to calculate a condo insurance quote. Your premium will also depend on:
- Location of the building
- Age of the building
- Construction materials
- Safety features (sprinklers, fire alarms, security systems)
- Proximity to a fire hydrant and station
- Unit renovations and improvements
- Personal insurance history and claims record
- Coverage limits
- Deductibles
High-rise vs. low-rise condos: Which is better?
When it comes to purchasing property, the “right” answer is often the one that fits your needs best. Choosing between a high-rise or low-rise condo comes down to your lifestyle, budget, and preferences.
If you want to prioritize city living, premium amenities, and great views, then a high-rise condo might be a better fit. Consider a low-rise condo if you prefer a quiet environment, fewer neighbours, and easy access to your home. Before taking the leap to buy, make sure to factor in the location, building features, condo fees, and insurance requirements. A little research goes a long way in making you feel confident about your decision.
