By Warren McNeil
Here is a video I did about a client who didn't initially want to buy a condo because they didn't want to pay condo fees. After they realized that the condo was the better buy they opted to purchase the condo. In this experience there were no single family homes in their price range that even came close to what they could buy in a townhouse. The condition of the townhouse was considerably better. The biggest challenge that I face sometimes is explaining that a condo might be the better option.
As of this blog posting, there are between 10-20 condos in Kitchener Waterloo with condo fees under 200.
Thanks for reading!
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Warren & Melanie McNeil | Sales Representatives, Team McNeil |
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Thanks Warren, interesting perspective.
cheers
Nor
Warren, a great video and I like your take on it.
But with respect, proceed with caution in Florida.
So many Condo Associations are unsold, unfunded, many of the Owners are not paying the Dues, etc.
Fortunately in Florida, we have Statutory "Free Look" Periods, that give a Buyer time to Review the Financial Status etc. of the Condominium Project.
Fred: When we do an offer on a condomium in Ontario, we always make the offer conditional on status certificate. The status certificate contains all the documents regarding the condition of the financial status and the rules and regulations. A lawyer reviews the status certificate and lets the client know about anything that they should be concerned about. Sorry to hear about the condo associations in Florida. We have been very fortunate in Ontario.
Thanks for your comments.
Wayne and Melannie,
The better deal can be a condo at times. And, the fees usually end up maintaining the property better than some homeowners might themselves.
Brian
Good morning Wayne and Melanie,
Sometimes condos are definitely the way to go. The fees usually cover most of the things you are going to end up paying for yourself if you own a home.