1. You Will Be Responsible For Home Maintenance, Snow Clearing & Yard Work
Perhaps the main reason that potential home buyers balk at condo fees is that they don’t really understand what they are paying for. What does your fee buy? Apart from putting some money into a slush fund for longer term maintenance or unforeseen circumstances, condo fees pay for essential home owner services including: insurance, snow clearing, gardening and in many cases onsite management. And the most attractive part is that as a condo owner, you are sharing these costs with other owners, so your risk and expense is usually lower than if you were paying for all of the costs by yourself.
2. No Need to Save Extra
If you are not paying condo fees, you had better be a saver. Too many home buyers overlook the true costs of ownership. New roofs, driveways, siding or even natural disasters like a flood for example can really hurt if you are having to pay the entire cost yourself. You may also need to invest your time and money into snow clearing and garden work etc.
3. You Are Paying for Freedom
Perhaps one of the key reasons why condo ownership is a growing housing segment here in metro Edmonton. Around 5% more condos sold in Edmonton during the last year, than just 3 years ago* is because of the freedom that condo ownership provides. If you are often working out of town, or if, like many baby boomers, you like to travel, purchasing a condo could be just the ticket. Others are looking after your home for you, whilst you are away.
Can we help you? We can assist you in purchasing ANY home or condo in the metro Edmonton market. For more information contact our broker owner Stuart Neal. He can be reached at 780-760-2014 ext 3.
Posted by Ambergate Realty Advisors on
Leave A Comment