The unit is only one part of a condo purchase. Your decision also buys a share of the building’s finances, maintenance history, insurance exposure, bylaws, governance, and future capital work.
Decision points
- 01
Compare buildings, not only units and finishes.
- 02
Read several years of minutes for patterns and unresolved issues.
- 03
Stress-test both mortgage renewal and special-assessment exposure.
Create a building file
Record the construction era and system, current contingency balance, planned work, insurance deductible, recent claims, fee history, rental and pet bylaws, litigation indicators, and any engineering reports. Keep source dates because a later Form B or meeting can change the risk picture.
Translate risk into a decision
A low strata fee is not automatically better if maintenance is being deferred. Compare the monthly ownership cost and a separate capital-exposure range. Ask a qualified inspector, lawyer or notary, insurer, engineer, or lender to resolve matters inside their professional scope.
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