doug
Active Member
Basement leaks can cost a min 10k.
Condos can leak as well, and even if it doesn't affect you, you'll have to pay for the repairs anyway.
Then there is cost of water, garbage disposal/sewer connection, home insurnace - all that is currently covered under condo fees
No necessarily, Home insurance and hydro aren't covered by condo fees. Garbage collection is, but condo owners also pay property tax...so thay pay twice for garbage collection.
Condos have the benefit of concierge receiving your packages if you do a lot of online shopping...
Only condos that have a concierge have this benefit, not all do, and the owners have to pay for it.
You do need to have a little more 'reserve' if owning a house, for those capital projects that can come at once.
You need this in a condo as well, in case they slap a special assessment on you to pay for a leaking basement.