Is your condo fee a deal or a danger? 🏢

The golden rule: $0.75–$0.85/sq ft is reasonable.👉 For a 700 sq ft unit, ~$595/month = fair game.🚩 Over $1/sq ft? That’s pricey—unless the amenities wow you.But watch out:🔻 Super low fees (e.g., $0.50/sq ft in an old building) = red flag. Could mean an underfunded reserve fund → hello, special assessments!🔻 Older buildings, pools, and utilities = higher fees.🔻 Fees ALWAYS rise—no legal cap in ON or BC.Must-do before buying:✅ Review the status certificate with your lawyer.✅ Check reserve fund health & repair history.✅ Stress-test your budget for annual increases.Condo fees aren’t negotiable—but surprises are avoidable. Know what you’re signing up for.DM me to understand more—let’s break down your specific building report. 👇#CondoLiving, #MaintenanceFees, #RealEstateTips, #FirstTimeHomeBuyer, #CondoBuying, #ReserveFund, #SpecialAssessment, #TorontoRealEstate, #PropertyInvesting, #FinancialPlanning, #HomeBuyingTips, #CondoFees, #RealEstateAdvice, #BudgetSmart, #DMme, This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit mandeeptoorrealtor.substack.com