In this article we will examine common questions that most first time condo buyers will have.

What are common areas? Common areas are pretty self explanatory. Anything that more than just the owner of an individual suite makes use of is typically considered common. These areas’s fall under the building responsibility to maintain and are a part of condo fees. Depending on the building windows, decks and pipes may be considered common property. Though having windows and pipes included in common property may benefits some owners, be warned that should major repairs take place, such as new windows for the building, a levy may be required to the tune 20,000 or higher.

Condo Fees: Condo fees include the maintenance of the building and common areas as well as a reserve fund (used for large upgrades or repairs, such as new roof, elevators etc.). Most condo fees will also go to pay all or at least a large majority of utilities (heat, water, power). Each building may work differently; however, most condo fees are based on the square footage of the unit.

Condo Levies: Condo levy can strike fear in the hearts of condo owners. A levy is a mandatory charge of x amount of dollars to every owner in a building and is done when major repairs or renovations must take place (or a voted upon) that cost more that the reserve fund can handle.

Know Your Condo Board: It is always a good idea to know your condo representatives as they are responsible for making decisions on behalf of the building that will affect you. Participation on the board is typically welcome and allows you to keep up on the affairs of your building, including future projects, concerns etc.

Be careful when renovating: If you plan on slapping a few coats of plan then don’t worry. If you intend on touching anything behind the walls (like pluming or wires) or removing walls then you must get the go ahead from the board. It is also in your best interest to have a professionals help.

Your Pet: Be aware of the buildings rules surrounding pets. Many condo buildings in Alberta do not allow pets and have been backed legally. Take a look at the buildings policies to be safe.

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