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You Don’t Want A Condo Because You Don’ Want To Pay Condo Fees

By Warren & Melanie McNeil

Real Estate Agent with Re/Max Twin City Realty Inc, Kitchener-Waterloo ON

February 24, 2011 03:43 PM

By Warren McNeil condo fee in Waterloo

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.

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Nor Yeretsian

Envoy Capitol Realty Inc. - Toronto, ON

Envoy Capitol Realty Inc., Brokerage Toronto

Thanks Warren, interesting perspective.

cheers

Nor

Feb 24, 2011 03:45 PM

Fred Griffin Florida Real Estate

Fred Griffin Real Estate - Tallahassee, FL

Licensed Florida Real Estate Broker

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.

Feb 24, 2011 03:53 PM

Liz Lockhart

Riverbend Realty, Cape Girardeau, MO - Cape Girardeau, MO

GRI, Cape Girardeau Real Estate

I just wrote an offer on a condo today. At first, the fees do seem high, but all things considered....

Feb 24, 2011 03:57 PM

Warren & Melanie McNeil

Re/Max Twin City Realty Inc, Kitchener-Waterloo ON - Kitchener, ON

Team McNeil

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.

Feb 24, 2011 04:07 PM

Brian Madigan

RE/MAX West Realty Inc., Brokerage (Toronto) - Toronto, ON

LL.B., Broker

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

Feb 24, 2011 11:47 PM

Malcolm Johnston

Century 21 Lanthorn Real Estate LTD., Trenton, Ontario - Trenton, ON

Trenton Real Estate

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.

Feb 25, 2011 01:07 AM

You Don’t Want A Condo Because You Don’ Want To Pay Condo Fees

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