Condo fees: what they cover and how to assess them
Understand condo fee inclusions, reserve contributions, fee increases and the questions to ask before buying.
Read the guide ↗The financial side of the building
The unit is one decision. The finances are another.
Understand the full cost of ownership, the corporation’s plan for major work, and the financing questions that belong in your due diligence.
What to examine
Read past the monthly fee.
A sound condo decision connects four numbers: what you pay now, what the corporation spends, what it has saved and what work is coming. The documents make those numbers legible.
- Current budget and fee inclusions
- Reserve study, plan and annual report
- Approved or proposed special levies
- Insurance coverage and deductibles
- Mortgage qualification and full household cash flow
Interactive ownership planner
What would this condo cost each month?
Enter your own figures. This is a cash-flow worksheet, not a mortgage approval calculator. Nothing is saved or sent.
Estimated monthly cost$0Scenario with fee increase and levy spread over 12 months: $0/month
Finance library
Six questions behind every condo purchase.
Each guide links to government or CMHC material for the rules and concepts it discusses.
Condo reserve funds: what buyers should actually read
Use the reserve fund study, plan, balance and meeting minutes together to assess future building costs.
Read the guide ↗Condo special assessments and levies
Understand what a special levy is, how to spot signs of one, and what questions to ask before you buy.
Read the guide ↗Condo insurance: corporation policy vs. unit owner policy
A buyer’s framework for corporation insurance, unit coverage, deductibles and questions after an inspection finding.
Read the guide ↗Qualifying for a condo mortgage in Canada
How condo fees, building information and your full housing budget enter a mortgage conversation.
Read the guide ↗The true monthly cost of owning a condo
Build a complete condo ownership budget beyond the listing price and mortgage payment.
Read the guide ↗A financing conversation
Bring the real condo numbers to the lender.
A pre-approval does not settle every question about a specific unit or corporation. Kristen Young of Merge Mortgage Group is a RealPartners-recommended contact for tailored mortgage guidance.
Meet Kristen on RealPartners ↗Important distinction
CMHC may use 50% of condo fees in debt-service calculations for insured mortgages. You still pay the full fee every month. The planner above uses the full fee for that reason.
Read CMHC’s calculation guidance ↗