Choosing between a condo and a freehold home is often the first big decision buyers make. Neither is better in every case. It depends on your budget, lifestyle and how much upkeep you want to take on.
Why buyers choose condos
- Less exterior maintenance: snow clearing, landscaping and building repairs are usually handled by the condo corporation.
- Amenities such as fitness rooms, party rooms or concierge services in some buildings.
- Often a lower purchase price for a central location.
Why buyers choose freehold
- You own the land and control decisions about your property.
- No monthly condo fees, though you pay for all maintenance yourself.
- More space and private outdoor areas, especially for families and pet owners.
What to check before buying a condo
In Ontario, a condo purchase should include a review of the status certificate. This package from the condo corporation covers the building’s finances, the reserve fund, any special assessments, rules, and any legal issues. Have your lawyer review it, ideally as a condition of your offer.
- Monthly fees: what they include (heat, water, parking, locker) and how they have changed over time.
- Reserve fund: whether it is healthy enough for upcoming repairs.
- Rules: pets, rentals, renovations and parking.
Curious about specific buildings? Browse my condo building profiles or ask me about a building you have in mind.