Condo Mania

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It's pretty easy to see when touring around Ottawa the number of condos being built, recently finished or are in the planning stages. Westboro, Wellington West and Hintonburg are all dealing with an explosion of buildings coming online soon, not to mention the downtown sector.

All these areas are prime for redevelopment and intensification, close to work, shopping areas and public transit. Is a condo in your future? Here's some things you need to know.

Is it right for you?

Condo Fees

The biggest concern people have when buying a condo are the associated condo fees. These fees cover general maintenance of the building, cleaning and snow removal amongst other things, as well as putting $$$ away for future use. You need to know not only how much they are on a monthly basis but also how much $$$ is in the coffers for unforseen repairs to the building itself. You own your unit but are a co-owner with everyone else of the rest of the building. Special assessments can be levied against the entire building which forces every owner to pay 1 time fees to pay for major repairs. The more amenities you have within your building, the more expensive it is to maintain and your monthly condo fees will reflect this.

Amenities

Throughout Ottawa there are a number of condos and within them lie a number of different amenities. You have to decide what it is that's important for you and what you're willing to pay for. Do you need an in house gym or do you prefer to head to a local one that's maybe bigger? Roof top patio for barbequing? A view of the river? Tennis courts or a pool? You're never going to get all of these in one condo, you will have to pick what's important to you and what makes the most sense financially as well. Besides, if the condo is in a fantastic location, chances are you will be able to walk to many of these amenities anyways.

Pets

Lastly, you have to think about how it could work if you're an animal lover. Every condo has different rules on what is or is not acceptable within the building. Pet dander as an allergen can cause some people serious issues so you might have carry your pet throughout hallways, elevators and the lobby. Some will restrict the weight of pets too so the thought of carrying your daughters 70 pound Golden Retriever while you dog sit may not be realistic.

One of the pleasures of living in a condo is the lack of maintenance one has to do. Perhaps you've mowed enough lawns, weeded enough gardens, shoveled enough snow and painted enough fences in your lifetime. If you're looking to downsize on the amount of maintenance and upgrade your free time, give me a shout to have a discussion about what condos Ottawa has to offer.

Read 1709 times Last modified on Tuesday, 16 October 2012 16:23