Found 2 blog entries tagged as condo building.

Family-focused condos

It used to be that the sign of a growing family was a detached house in the suburbs, where children can run in the backyard and go on adventures with neighbourhood kids. However, family-focused condos are giving many parents another option for a home that meets their needs.

Large cities around the world have been building residences that are suitable for families, and Canada is beginning to follow. Modern condo buildings are larger and packed with amenities, perfect for the families that are now calling them “home.” As the children grow, urban centres offer endless opportunities for work and school, convenience and entertainment right outside your door. And once the kits move out, there’s no need to downsize because the…

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Condos are often attractive to buyers, not only because they can be in a more favourable price range than single family homes, they can provide easier access to amenities and a low-maintenance lifestyle. 

However, these benefits don’t come without a cost. In addition to your mortgage, you’ll need to plan for the maintenance fees, also known as condo fees. This article will look at what condo fees are, when they can be reassessed, and what they mean for your mortgage, specifically related to an apartment-style condominium building.

What are condo fees?

To put it simply, condo fees are monthly contributions made by unit owners to a condo corporation (the organization that runs the condo building). This money is then pooled together and goes…

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