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Oliver Reprich

Oliver Reprich Muskoka REALTOR

Before you buy a condo.

There are many things that you should consider before buying a condo unit.

The advice of a lawyer, real estate agent or accountant can help you see the full picture and make an informed decision.

Here are some questions that all condo owners should discuss when reviewing the condo declaration, by-laws and rules with their lawyer, real estate agent or accountant (does not include questions related to the agreement of purchase and sale):

  • how are my condo fees determined?
  • do the declaration, by-laws and rules of the condominium suit my lifestyle? (e.g., some condominiums limit the size and number of pets or prohibit certain pets altogether)
  • what are the boundaries of my unit?
  • are the windows and doors part of my unit?
  • is the roof part of my unit in a townhouse complex?
  • are any of the pipes behind the drywall part of my unit? (in most cases, you will be responsible for and required to maintain and repair your own unit)
  • what are my repair and maintenance responsibilities?
  • am I responsible for the maintenance of my heating and cooling equipment?
  • if a pipe leaks behind the wall, is it my responsibility to repair?
  • if I have exclusive use of a yard, deck or fence, am I responsible for maintaining and repairing them?
  • should I consider getting extra insurance?
  • what does the corporation's standard insurance cover? (it is important to understand what you are responsible for and if you would like to get your own insurance coverage)
  • is there enough money in the reserve fund?
  • are there any planned expenditures? (it is important to know the financial health of the corporation to help assess what your condo fees will be)
  • how many rental and/or mixed-use units are there? (remember, condo owners who rent out their units as an investment may not share the same interests as owners who live in the building)
  • is there a shared facilities agreement with another condominium or property? (some condominium properties may share amenities with others)
  • are there commercial units? (this means that residents will need to share the building with stores and businesses)

More common questions related to the topic: Buying Property

Is right now a good time to buy?

Buy first or sell first?

Where can I get my well water tested?

What is title insurance?

Why should I buy a home, instead of renting?

What is a home inspection and should I have one done?

What should I expect from an open house?

What is a "Buyer's Agent"?

What's the best way to decide how much to offer for a house?

What if my offer is rejected?

What is the Land Transfer Tax Rate in Muskoka?

Land Transfer Tax Refund for First-time Homebuyers

I own a parcel of vacant land that I wish to subdivide into parts in order to sell the parts separately. Does the HST apply to these sales? 

The sale of the severed portion of vacant land would not be subject to GST/HST since it is not capital property used primarily (more than 50%) in a business and it is not being sold in the course of a business. However, if the land was subdivided into more than two parts, sales of the severed portions are not exempt unless the portion is sold to a relative (or to a former spouse or common-law partner) for their personal use.

What does it cost as a buyer to use a Sales Representative?

Can my Sales Representative give me information regarding properties from other companies?

Why do I need to sign a Working with a REALTOR® form?

Do you qualify for Land Transfer Tax Refunds for First-Time Homebuyers

When do I get my keys, of the house I purchased?

Do you understand responsibilities of owning a condo?

Monthly common expense fees of Condo Corporation

Reserve fund of a Condo Corporation

Can I withhold my condo fees until urgent repairs are carried out in my unit? 

How Big Should the Room Be To Fit A King Size Bed?

If I have title insurance, why do I need a survey plan?

Ask your own Question.

MLS®, REALTOR®, and the associated logos are trademarks of The Canadian Real Estate Association.

Bracebridge Realty, your trusted local real estate brokerage in the "Heart of Muskoka"

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