Condo Fees versus Freehold Expenses- Lets take a closer look...
By Anne Lok, Toronto Modern Real Estate
(Berkshire Hathaway HomeServices Toronto Realty)
VERSUS Do you save more by chosing condo or freehold property? One of the common factors which greatly affect Buyer's decision in choosing to purchase a condo or freehold is the cost of monthly condo maintenance fees. In the Toronto real estate market, first time buyers often consider a small condo unit as their gateway to home ownership due to price affordability. Condo is a method of ownership where you only own the unit, and the common elements are shared amongst owners including the utilities for those areas. Condo fees for each unit is calculated based on per square foot cost. So if you are one person who lives in a larger unit, but never use the amenities, you may be interested to compare living in a freehold. Of course, you have to balance the cost with your lifestyle cho...
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