If you are searching for a condo in Guelph, Deb can help you determine which Guelph neighbourhoods to look at, and what to expect with owning a condo.
Hot Market for Guelph Condo Listings
Many of the recent listings in the Guelph area are specifically for condos. Condos are a perfect option for those who are taking their first leap into the housing market, and for investors looking for a property.
A typical condo in Guelph is more spacious than you think! Many condo developments are townhomes designed as two levels or one-storey apartments with spacious layouts.
Check out some of the latest Guelph condo listings here, and find a neighbourhood you love! Some of the most popular neighbourhoods for condos in Guelph right now are the West End, Westminster Woods, and Kortright West.
What Can You Expect With Owning A Condo?
When you are the owner of a condo, you are looking at space that you may share with your community. Many condos are attached townhouses, which means you might share your yard space and building exteriors. Likewise, if you are looking at condos in an apartment, you will find yourself sharing elevators and common areas.
There is also the possibility of becoming a freehold condominium owner, which means you will have a bit more leeway in external condo cosmetics because you own the plot of land. Although there are no fees on a freehold condo, you will be responsible for exterior repairs such as the roof, windows, doors, and of course, lawn cutting and snow removal.
Sharing Condo Expenses and Condominium Fees
To cover the cost of shared amenities with your fellow condo dwellers, each condo owner will contribute to the Condominium Fees in your development. The Condominium Fees are a reserved fund that is meant for utilities, any emergency repairs, for the upkeep of common elements, and any amenities such as swimming pools and recreational sports areas.
This means, on top of whatever mortgage payments you make on your condo, you will also need to account for Condominium Fees. The fees will vary depending on the development, what it has to offer, and the long-term establishment.
The wonderful thing about condo fees is that it takes away some of the extra headaches (like roofing repairs), or gives you bonus perks (like a swimming pool or snow removal in the winter!) that you may not have if you were living in a detached home.
For more information on what your condo fees are covering, you can talk with condo development owners, and clarify your total costs with a real estate agent before purchasing.