06/10/2026
Condos are more than the sq.ft. and the price...
Before you buy a condo consider these 6 things.
1️⃣ You’re Buying Into a Corporation — Not Just a Unit
When you buy a condo, you’re buying into a financial structure with a board, a budget and long-term obligations. You don’t control everything anymore — decisions are collective. That shift matters a lot more in retirement than people think.
2️⃣ Condo Fees Don’t Go Down
In all my years in real estate, I’ve never seen condo fees decrease. They cover real expenses — roofs, elevators, windows, insurance, snow removal. The key isn’t “are fees high?” — it’s “are they well-managed and predictable?”
3️⃣ The Reserve Fund Is Everything
Every Ontario condo must complete a reserve fund study every three years. That tells you whether the building is saving properly for big future repairs. A healthy reserve can mean higher fees — and that’s often a good sign.
4️⃣ Special Assessments Can Be Expensive
If the reserve fund falls short, owners pay the difference. I’ve seen small units hit with $40,000 assessments just to replace windows. In retirement, that’s not an inconvenience — that’s a financial event.
5️⃣ You Give Up Full Control
In a house, you decide when to fix the roof or paint the door. In a condo, approvals, budgets and timelines are shared decisions. For some retirees that feels freeing. For others, it feels restrictive — be honest about your personality.
6️⃣ Storage & Layout Matter More Than You Think
Newer condos are efficient — which often means minimal storage. No basement, no attic, no “extra room.” Before you buy, ask: where will your seasonal items, paperwork and luggage actually go?
When considering a condo think of these 6 things.. 💛
Deirdre Dunne
Re/Max Icon Realty Brokerage