HOA fees when buying a home or Calgary downtown condos

When buying a property, such as Calgary downtown condos, be aware of all the fees you have associated with the property including the HOA fee.

HOA is the acronym for Home Owners Association. This is a fee charged to each of the home owners in the communcalgary downtown condosity to maintain its public areas. This money is usually for community memberships, or maintenance of a park or lake and is paid by the home owners once per year.

Most HOA fees are found on the title of the property under a restrictive covenant. You may also find that the closer you are to the amenity the higher the HOA is. This is a mandatory fee for the home home owners so make sure that this fee is paid up to date by the seller when buying the property.

I have seen some HOA fees for the common area in a cul-de-sac or where only certain homes that back onto a green space have the HOA fee attached to it.  In most cases it’s a few hundred dollars, regardless check it out to be sure.

If you have any questions about looking at Calgary downtown condos or other real estate issues, please contact me today!

 

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