Real Estate Blog & Resources

Strata fees always get the attention of Buyers because they add to the monthly costs of owning a strata property & in the calculation of how you qualify for a mortgage.

When Buyers say "oh good, the monthlies are low", I know they don't fully understand the impact.  Low fees mean a greater chance of levies in the future as the contingency fund can't support any major expenditures.

If monthly fees are very high, we want to know why too.  

What is the right amount?  Strata fees have gone up in the last few years due to increased costs of insurance & maintenance.  On average, they are going up 8.7%/year per Condo Clear Services

Reading the Depreciation Report, Financials,  & Annual General Meeting minutes will give you more insight into the reasons for the amounts charged each month.

"Do you need a garage with this $13million home?"

Everything else was a go-it ticked a lot of boxes for my Buyers but...even though street parking is the norm in this part of town, it's not for everybody.  It's especially difficult if you're used to living in a condo where parking is part of the package & is expected.  There isn't anywhere else to park!

So what is the real question?  What's reasonable to expect from a home based on price?  What are you willing to trade off to get all the other home features that you want?  What concerns might you have about buying a home with an obvious drawback for other future buyers?

Of course they do but not for the reason you may think.  In real estate, there are a few holidays that impact sales.  We're experiencing one right now.

Historically the first week or even 2 of July are slower as people use that extra day to tag onto their vacation time.  it's also the beginning of summer for kids who are out of school so a good time for families to take their summer vacation.

Don't worry, it picks up again but this part of the year is always a little quieter.