It’s almost as if some people have no clue what condo fees are about. Yes you have to keep paying for them. You also have to pay for water and heating forever unless you want to freeze and die of thirst.
Condo fees also cover a number of other items besides heating and water. Security, amenities, elevator maintenance, underground parking and HVAC, landscaping to name a few.
Home owners will either have to pay for those things I’m selves, or do you work them selves. Maybe you want to do the work yourself like I do, but at some point when you get older it gets harder to do. A reason so many condo owners are older. Sometimes you have a job or you’re out of town a lot, again it’s great to have someone else do all the maintenance, shovelling and yardwork etc.
Jcyyca, isn’t your wife a real estate agent? Why don’t you ask her what condo fees are used for, if she’s a half decent agent she can explain it to you.
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Originally Posted by jc_yyc_ca
Those condo fees are quite high for a building like that with no amenities, but speaks to my example about how condo fees are only going to go up. This exactly proves my point that people have to would have to be dumb to buy into an apartment condo.
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Originally Posted by jc_yyc_ca
It's because it's a new building. Look at the condo fees of any building older than the year 2000, I bet there is nothing less than $600/month. That's the equivalent of adding another 150K to your mortgage.
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Originally Posted by suburbia
Thanks Western Spaghetti. I didn't know what it was either and am happy Corndogger asked the question. I just saw on the Realtor.ca link that HOA was X amount monthly and so used the same word without known more details.
That's funny and sad at the same time. Yeah, with that one $140K unit that had $719 HOA per month, they were indeed looking to corndogger any new unsuspecting owner LOL!
Oh, and LOL means Laugh out Loud 
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Originally Posted by SteveP
They should rename HOA to BOCA (Bend Over Condo Owners)
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