01/13/2022
đ When you own a freehold property, whether it's a detached or semi, you own it outright and you manage your finances, you're responsible for the upkeep and maintenance of your home, you decide how much or little to spend/set aside for future renos/repairs. You're in control of your money.
âWhat happens when you spend too much one year, and the following year you're hit with an unexpected unforeseen major expense? đĽş
đ When you buy into a condominium community, all financial responsibilities/budgeting etc. fall onto the property management company/condo corporation. If they mismanage funds (they're your funds btw, collected through the homeowners' monthly fees), by not budgeting appropriately etc., guess what happens??? Your monthly fees will go đ!!! ââ
Always do your research before buying! đ