StoryLine By CondoNow
When searching for a home, you will often see properties described as either freehold or condominium ownership. While both allow you to own real estate, the responsibilities, monthly costs, and level of control can be very different. Understanding these differences can help you choose a home that fits your budget, lifestyle, and long-term plans. …
July, 2026
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28 July
What Happens If a Condo Corporation Runs Out of Money?
A condo corporation is responsible for paying the community’s operating expenses and maintaining its shared property. This can include elevators, roofs, parking garages, hallways, landscaping, security systems and other common elements. But what happens when the corporation does not have enough money to cover its bills or complete a major repair? In most cases, the financial responsibility eventually falls on the …
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28 July
Can Condo Fees Increase Every Year?
Yes, condo fees can increase every year. In Ontario, there is no fixed annual limit on how much a condominium corporation can raise its common expense fees. Condo fees are based on the corporation’s annual budget and the amount required to operate, maintain and repair the property. If the cost of running the condominium increases, owners may see …
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28 July
Why Walkability Matters When Buying a Condo
When buying a condo, it is easy to focus on the unit itself: the layout, finishes, view, amenities and monthly fees. However, the area immediately surrounding the building can have just as much influence on your daily life and the condo’s long-term appeal. A walkable neighbourhood allows residents to reach everyday destinations safely and conveniently without relying on a …
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28 July
How Much Does It Cost to Own a Condo in Toronto?
The purchase price is only one part of the cost of owning a condo in Toronto. Your true monthly housing expense may include a mortgage payment, condo fees, property taxes, insurance, utilities, parking and occasional repairs. Before buying, it is important to calculate these expenses together rather than focusing only on the listing price. Mortgage Payments For most …
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28 July
Renting vs. Buying a Condo in Toronto: Which Option Is Right for You?
Deciding whether to rent or buy a condo in Toronto is about more than comparing a monthly rent payment with a mortgage. Your savings, income, lifestyle, future plans and comfort with the responsibilities of ownership should all play a role. Renting and buying can both be smart choices—the better option depends on your individual situation. Why …
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16 July
Time to Buy? Maybe…Time to Start Looking? Absolutely!
The biggest mistake buyers make isn’t buying at the wrong time. It’s waiting until everyone else decides it’s the right time. By then, competition has increased, inventory has shrunk, prices have climbed, and negotiating power has shifted back toward sellers. The truth is, no one—not economists, Realtors, or mortgage experts—can predict exactly where the market …
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7 July
The Best Time of Year to Buy a Condo in Toronto
Timing can play an important role when buying a condo in Toronto. While great opportunities can appear at any time, market trends throughout the year often influence pricing, inventory levels, and negotiation power. Understanding these seasonal patterns can help buyers make smarter decisions and potentially secure a better deal. Winter: The Best Time for Negotiation Many …
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7 July
Questions to Ask Condo Property Managers Before Buying
Buying a condo involves more than evaluating the unit itself. While buyers often focus on the floor plan, finishes, amenities, and location, one of the most important factors affecting your ownership experience is the management of the building. A well-managed condominium can help protect property values, maintain common areas, control costs, and ensure the building remains financially healthy. …
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7 July
What Condo Insurance Buyers Need to Know in Toronto
Buying a condo in Toronto comes with many advantages, from lower maintenance responsibilities to access to amenities and prime urban locations. However, one area that often surprises first-time buyers is condo insurance. Many assume that because the condominium corporation has insurance for the building, they don’t need their own coverage. In reality, condo insurance is an important part …