You may not necessarily be looking for a home or apartment just because you're looking at Calgary real estate. Another type of property that you might consider is a condo because it might better suit your way of life.
What makes condo living in Calgary so great?
The occupant has considerably more time to unwind and concentrate on other things because maintenance and tasks are taken care of for them. Having a condo in downtown Calgary puts you very close to dining options and other necessities, saving you even more time. Additionally, since practically everything is accessible by foot, you won't need to drive as frequently.
But before you make a Calgary condo your home, especially if you've never done so, there are a few things you should understand.
Are Condos in Calgary Right for You?
Although living in a condo and living in the city are fantastic together, not everyone is a good fit. However, a lot of people relocate to Calgary each year and seize excellent bargains on luxurious downtown condos. Do you know whether or not a condo is the best option for you?
Do You Really Understand What a Condo Is?
Condominiums, or condos for short, typically conjure images of posh apartments in skyscrapers. However, contrary to popular belief, a condo is not the same thing as a home. A condo can be a: It is a kind of legal ownership because it can be:
- Townhouses
- Owners of vacant lots will construct on
- Duplex
- Triplex
- Separate house
- a structure that is split between a home and a business.
Co-ownership in condos might be undivided or divided. The majority of buyers choose for divided co-ownership, where they put down 5% on each separate unit.
Variety of Condos
In Calgary, Alberta, there are three different types of condos available:
- New Condo: A new condo is one for which you only have a floorplan, meaning it is either still in the planning phases, under construction, or has just been finished.
- Resale Condos: A condo that is being offered as a resale allows you to tour the unit, building, and grounds.
- Converted Condos: Since it was once a commercial space that was later converted to a residence, the condo has a loft-style design.
Living in a condo is very different from owning a home. It has advantages like a condo board.
The Condo Board: What Is It?
The group responsible for creating the rules for your Calgary condo complex is the condo board. By keeping up with the property's care, they are also in responsible of avoiding problems before they happen.
When you have problems or need repairs done in your unit, you normally call the property manager. If the property manager is unable to handle the problems, such as neighbour disputes, they will seek help from the condo board.
What Fees Am I Required to Pay?
The best place to live in Calgary is a condo, however they all have distinct requirements and costs.
Depending on your circumstances, you can be required to pay occupation fees, sometimes known as phantom rent. Once you move into the unit, something happens. Once you have registered with the condo board, you won't be required to pay any occupancy costs.
You will still need to pay those fees even though you won't need to perform any maintenance. They will include common services and property upkeep. Remember that they will vary depending on the age, size, and amenities and services provided by each building. A condo closer to the city centre could cost more than one outside of it. Maintenance charges may comprise:
- Insurance
- Employee services
- Overall administration of condos
- Broader operations
- A reserve for unanticipated events
Calgary House Finder's professionals can assist you in locating a condo that will make you feel at home. Still not sure if living in a condo is for you? For your convenience, our team has put together some helpful hints for condo property hunting.
We Can Assist You in Getting Ready for Condo Life?
Whether you're looking for a multi-family or single-family condo, Calgary House Finder will locate it for you. Check back frequently since we frequently receive new listings for condominiums for sale. Please get in touch with us if you want to learn more about our Calgary real estate alternatives!