Pros and Cons when Buying Calgary Condos
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- Опубліковано 25 лип 2024
- We all know that Calgary Condos are a hot topic these days. Whether it's looking for Calgary condos for sale for your first condo, as an investment or for other purposes, here are some real pros and cons to owning, living and buying Calgary condos.
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Chapters:
0:00 Calgary Condos - Pros
3:50 Calgary Condos - Cons
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This video didn't mention townhouse condos at all though, which are a significant portion of the condo sales here in Calgary. By having a townhouse condo, some of these cons are totally n/a. I have a fenced and private backyard, really nice neighbours, no one above or below me, and a real front door where deliveries can be dropped off. Townhomes in general are energy-savers because the shared walls mean lower heating bills.
There are other cons not mentioned -- condos do not increase in value at the same pace as single family homes (or sometimes at all), so as an investment, that's something to consider. And yes, condo fees --- the older a building gets, the higher those fees will get, and there's due diligence in finding a place that is well managed. There is a chance you could be hit with special assessments to take care of big problems that weren't looked after earlier.
Calgary is unusual in that so many of the townhouses are condos --- very difficult to find one that isn't. I did try to find a freehold townhouse because I like townhome living, but in this market it wasn't happening, so I bought a condo. So far so good --- I love having someone else do the landscaping (which is lovely here) and snow shovelling, and the exterior building maintenance. I'm not a home reno person so having these things taken care of frees up my time for other, better things :)
This is true… being in a townhouse or row is a different experience. Both have ‘condo fees’ but a apartment style and townhouse style are different classifications, and all stats and pros and cons here are focused on apartment style. We actually talked in this video about townhouses ua-cam.com/video/smiTXeyvois/v-deo.html
Wow you're amazing
I used to live in a 45 units condo at coquitlam in vancouver.Among the cons you mentioned I hate most is the noise from the nearby neighbours.other cons are really not so important to me. Besides as paying the strata fee, it is deserved to paid for all outside work and hot water and gas fireplace.After leaving canada for the past 20 years, i live in concrete high rise apartment which is comparatively feeling easy.
Two things…
1. It’s important to consider the construction of the build. For example noise can be very minimal in a concrete build opposed to a wood.
2. What are your thoughts of the Nude by Battistella build?
Great points.
#1 - there aren't that many buildings that are concrete construction outside of the downtown core. Many buildings are wood frame. We currently have a 6 storey limit, but coming soon it will be 12... calgaryherald.com/life/homes/condos/mass-timber-towers-up-to-12-storeys-approved-for-alberta
#2 - Are you looking to buy for investment or for your personal living?
What's your thought on Frank Peresta's youtube video on 50% real-estate jump in Calgary the spring of 2023
I haven’t seen it but to say we’ll see a 50% increase this spring is crazy. There are some strong economic factors pushing the values up… but not that much 😂 I hope I’m the one that’s wrong but I would be shocked. That means we would see the average sold price go from roughly $500k to $750k in a matter of months? Nah. Can’t see it.
For me number one Con was Airbnb . All kind of randoms going in and out the building 24/7, garbage shoot getting jammed with pizza boxes at least twice a week. Bottom line make sure Airbnb is not allowed in your building because it will mess up your maintenance fees by a lot
Great tip. There are only certain buildings that allow it but it is important to look into this too.
Try selling a townhouse condo. I bought mine in 2009 for 250k and might be able to sell it for 230k in today's market! I'm kinda screwed
+Steph H if you’d like us to take a look just let us know. Email us at info@chamberlaingroup.ca and we can help.
Along with lack of privacy, is sketchy or crazy neighbors. We have a drunk that owns the 3rd floor unit overlooking the courtyard and our patio. It's not unusual for him to be on his balcony shouting slurs and insults to his neighbors.
And don't get me started on our parkade "neighbor".
Also, some of the condo bylaws can be downright annoying. For example, no mechanical work in the parkade makes a lot of sense at first, but when you cannot even swap your cars' tires/rims in the fall/spring without risking a bylaw infraction (and $ penalty) -- well, that's just downright frustrating.
+Mica W oh man… gotta love the condo crazies 😜
Really??
@@henrymalacho4837 No word of a lie. Not even exaggerated -- not one iota.
Can someone explain what is con and prose
Cons are negatives and Pros are positives. Is that what you mean?
Does credit score is a much need neccesary
Thanks for the comment. Do you mean in terms of being able to buy a condo or home?
@@ChamberlainGroup in terms of buy condo
What should be minimum credit score to purchase a condo
@@hunnyrawat6851 let’s chat. We can get you the info directly. Info@chamberlaingroup.ca or grab a time to ☎️ here 👉 calendly.com/chamberlain-real-estate-group/15-min-call
EV car/truck is coming. I am seeing more and more Tesla and Bolt on the Alberta road. Cash call to make the building power upgrade is the biggest cons to buy a condo in the older buildings.
The Canadian government has set a 2035 deadline for all new manufactured cars and light trucks to be zero-emission vehicles. Therefore, check the building power capacity. If the main power cable is not big enough to supply power for the extra EV charging for every condo in the building. Owners are on hook for cash call to install extra power cable to the building in order for each owner to install their EV charger. I think that it will be difficult to sell an apartment condo without EV charging after 2030. Buyer, in their right mind, will not buy a apartment condo without enough EV Charging capacity.
Alberta does not have the “Right to Charge” laws yet. I think that it will come. You cannot rent your condo without EV charging if Alberta gets a “Right to Charge” law.
There may be creative solution to this problem. IDK. I like to know them. Let's have a discussion.
It's funny you mention this, as I had this exact conversation with a friend over the weekend. I agree that this easily could become a problem... OR... it's a business opportunity to figure out a solution that is a plug and play... lol... (see what I did there)!