10 Questions to Ask Before Buying a Calgary Condo

Buying a condo means buying into a corporation. Before you commit, make sure you can answer these ten questions.

1. How healthy is the reserve fund, and what does the latest reserve fund study recommend?
2. Are any special assessments planned or under discussion?
3. What do the monthly fees include: heat, water, electricity?
4. How have fees changed over the last five years?
5. What do the bylaws say about pets, rentals and short-term rentals?
6. Are there any legal actions involving the corporation?
7. What major repairs have been done recently, and what’s coming up?
8. Is parking titled or assigned? What about storage?
9. What is the insurance deductible, and who pays it?
10. How is the building managed, and how responsive is the board?

I review every one of these for my buyers as part of a condition on the offer. If you’re starting your search, let’s talk.