While home prices in Calgary continue to skyrocket, condo demand in the city seems to be outpacing other property types, and some buildings are more expensive than others.
When choosing a condo, you don’t want to make the mistake of ignoring the cost of condo fees when calculating whether or not it’s in your budget.
The latest analysis from the digital real estate platform Wahi found which condo buildings in Calgary have the highest fees, and it might help you in your search for that dream unit.
Wahi
The analysis found condo fees all about $1,000 ranging from $1,168 to $2,140 for units ranging in price from $1,975,000 to $300,000.
While a number of the buildings listed have units with median sold prices higher than the benchmark price in the city ($350,700), more expensive units don’t necessarily equal the highest fees.
“For homebuyers who are considering buying a condo, maintenance fees are an important factor to consider when figuring out their budgets,” says Wahi CEO Benjy Katchen.
“At the top end of the market, maintenance fees can add from $2,000 to north of $4,000 to monthly expenses.”
A variety of factors contribute to overall condo fees, including the size of a unit and encompass building insurance, maintenance of common elements, amenities and some utilities.
Older buildings are also more likely to have higher condo fees because of more frequent repairs, and as an added plus, they sometimes have larger units.
If this article has you reconsidering your choices and wondering which units have condo fees that won’t break the bank, we have a list of the most affordable ones here.